Appraisal Institute's PAREA receives approval from the Appraiser Qualifications Board

[J Grant]

Looking back on it, the two-year-plus trainee period with a mentor when we went out on field inspections with them was not so much about learning to measure or photograph, though of course they showed us how to do it, it was on the job training for comparing and recognizing different quality houses, repairs, and all the diverse neighborhoods and market areas.

If PAREA graduates have no or little field experience they will face challenges - reading the help posts here, asking for help , even from experienced appraisers, most of them address what to do after an inspection and then find the house is different than advertised, has issues, repair or enclosed rooms, some of it below grade etc etc.

An appraiser is an integration of field experience and data. Just the data and report writing makes an analysts, not an appraiser in anything but name only

And this will get worse with hybrids and desktops depriving the next generation of appraisers of even more field experience.

 

[BRCJR]

Looking back on it, the two-year-plus trainee period with a mentor when we went out on field inspections with them was not so much about learning to measure or photograph, though of course they showed us how to do it, it was on the job training for comparing and recognizing different quality houses, repairs, and all the diverse neighborhoods and market areas.

If PAREA graduates have no or little field experience they will face challenges - reading the help posts here, asking for help , even from experienced appraisers, most of them address what to do after an inspection and then find the house is different than advertised, has issues, repair or enclosed rooms, some of it below grade etc etc.

An appraiser is an integration of field experience and data. Just the data and report writing makes an analysts, not an appraiser in anything but name only

And this will get worse with hybrids and desktops depriving the next generation of appraisers of even more field experience.

I think PAREA will have individuals thinking they are more competent than they really are. I guess a poorly trained Trainee in the current system could have the same assumption about themselves.

I wonder if there will be a parallel between PAREA grads and state board complaints being filed.

 

[Elliott]

At the FHFA conference on Appraisal Bias, the panel really, really wanted to know how much a PAREA certificate would cost, and after pressing and pressing, somebody said $5000, which they thought was too much.

 

[NC Appraising]

I think PAREA will have individuals thinking they are more competent than they really are. I guess a poorly trained Trainee in the current system could have the same assumption about themselves.

I wonder if there will be a parallel between PAREA grads and state board complaints being filed.

I think they will. When they come in low and screw up in some other manner, the agents will find out how much experience they have and will eat them alive. How can one defend themselves with no real-world experience?

What about the E&O companies?

How much more is the liability for a so-called certified appraiser that just passed all of their tests and has only been appraising for 2 weeks? I would not insure them or at least charge a heck of a premium.

Same for the lender when it comes to buy backs. Hopefully, smart lenders will have a 3-5 year minimum, and lenders will make the AMCs stick to that rule.

 

[Tiffany Gibbons]

How do they get the practical experience of measuring a house? I don't mean a square box or a rectangle, I mean an actual house that has curves and angles, and really long straight lines.

I learned the most on measuring with the appraiser in our office who did all the giant houses, he would measure the house and I would go the opposite way and measure, same with upstairs, freaky angles, etc. We'd get back, each sketch what we each had measured in Apex and compare. I learned really quick to double check before I left to make sure I hadn't mixed up 6 and 9 feet, 12 vs 21, and so on. Not everyone would have that kind of patience, I know I don't.

 

[Andee]

I learned the most on measuring with the appraiser in our office who did all the giant houses, he would measure the house and I would go the opposite way and measure, same with upstairs, freaky angles, etc. We'd get back, each sketch what we each had measured in Apex and compare. I learned really quick to double check before I left to make sure I hadn't mixed up 6 and 9 feet, 12 vs 21, and so on. Not everyone would have that kind of patience, I know I don't.

The guy I trained under was surprised that I understood and knew how to measure a property. Late hubby was a Superintendent for a general contractor for years, I learned a lot just from him. Needless to say, I got all the big houses while I was training and he gave the 2 other guys the little stuff that you could get through really easy. It was very frustrating for me, even though the fee was bigger, they took longer to write up, sometimes you just need a no brainer and I saw very few of them. But in the long run it was good for me because most of what is around me are really big houses.

 

[Andee]

At the FHFA conference on Appraisal Bias, the panel really, really wanted to know how much a PAREA certificate would cost, and after pressing and pressing, somebody said $5000, which they thought was too much.

That's just great, instead of finding someone to train under with a fee split and actual field experience, with the good, the bad, and the ugly, you get to pay for your experience and most likely learn nothing that you need to know in the real world. That's a ridiculous cost, it's almost like buying your fake degree.

 

[shrubberyvaluation]

Wonder if one can take out a PAREA "student" loan?

If they check the right boxes.

 

[NC Appraising]

That's just great, instead of finding someone to train under with a fee split and actual field experience, with the good, the bad, and the ugly, you get to pay for your experience and most likely learn nothing that you need to know in the real world. That's a ridiculous cost, it's almost like buying your fake degree.

I got to thinking...which is scary....

But a four year degree for a particular field is >25k 60k average.

So 5-10k for a new trade not that bad. I had to do my first 50 for free. 3 months no pay equaled out to 5k.

 

[CGinMN]

Are the AMCs that are developing PAREA going to provide the program for free, then lock down their employees in non-competes?