Certified General License and PAREA

[Gtary]

Has anyone tried the PAREA program through the Appraisal Institute? I've already gotten my certification, and am trying to push for a Certified General PAREA program, as I can't find anyone that will take me on. This makes sense, nobody wants to train their competition. What are your thoughts on this??

 

[Non Sequitur]

Has anyone tried the PAREA program through the Appraisal Institute? I've already gotten my certification, and am trying to push for a Certified General PAREA program, as I can't find anyone that will take me on. This makes sense, nobody wants to train their competition. What are your thoughts on this??

The first exposure draft included a general path, that was killed in record time. The AI will not help, MAIs rule that roost and will never agree to a PAREA path to CG. The best advice is to network, and don't give up. Good luck.

 

[Gtary]

Can you clarify what you mean by "MAIs"?

 

[Non Sequitur]

 

[Non Sequitur]

Can you clarify what you mean by "MAIs"?

https://www.appraisalinstitute.org/why-join/pursue-a-designation/MAI-designation

 

[Surf Cat]

What are your thoughts on this??

There are no shortcuts in The Game of Life.

 

[KHS445]

Can you clarify what you mean by "MAIs"?

I don’t know how a CR does not know what MAI means when mentioned in the context of The Appraisal Institute.

 

[Ricky LaFleur]

If the competency requirements were actually followed by appraisers, I'd say PAREA could at least have the potential to be a legitimate start. But... I've rarely met an appraiser who isn't already a self-proclaimed expert in all property types and scenarios.

 

[Terrel L. Shields]

his makes sense, nobody wants to train their competition.

It is more than that. The compensation for appraisals is so low, taking on a trainee takes an enormous bite out of the net income of the mentor. This is a real problem. We got $300 for an appraisal in 1992. Today that same appraisal might just be no more than that very figure to maybe $500. Then we look at something like a C store or Poultry farm. Got $1,800 in 1994? Probably gonna get as little as $1,500 to, on a good day, $4,000 today.

Now the average price of a house has risen some 400% since licensing started. By that metric alone we should be getting $1,200 for the average home and $7,000 for a C store or Poultry farm appraisal.

Never mind that we have FNMA turning in appraisers right and left for mindless piffle. Never mind the AMCs absconds with a third of the fees. Never mind you get gouged for "technology fees". Never mind USPAP is required every 2 years not every five and you buy pointless flapdoodle to fund the lavish lifestyle of TAF bureaucrats and ever more complicated "solutions" for appraisers to apply. Never mind liability is 100% on the mentor, not the trainee. Never mind the reviewers are often ill trained themselves and ask the stupidest question and demand the stupidest justifications for adjustments that are either self-evident or necessarily judgment calls. Never mind you still are not respected by neither lenders, AMCs, Realtors, nor borrowers.

 

[George Hatch]

I oppose PAREA for 1-4s because (IMO) the experience factor includes more than just the mechanics of solving an appraisal problem and filling out a form. The IRL experience will include other facets of acting in the role of the appraiser. Personal conduct and bearing, interacting with others including conflict resolution, responding to IRL feedback loops, spotting and reacting to changes in the market trends, etc. The book doesn't cover everything.

I broke into the business working as an SFR appraiser prior to taking the income cap courses and accruing the additional experience requirements for my CG. So unlike some CGs, I have done both.

In my career
It took me about a year to figure out how to appraise SFRs in general and how to actually work the appraisal process; and then I put another 3 years of 100% 1-4 appraising before transitioning into the non-res work. With that exposure and a total of 4yrs of SFR experience as a foundation it took me another 2-3 years after that to attain the equivalent entry level proficiency with the non-residential properties I was appraising. I solicited input from my peers for FAR more years on the various non-res assignments than I ever did when learning SFRs. I didn't stop soliciting feedback from my peers on these non-residential properties until I was probably 12+ years into appraising.

At 1 year of experience I could be trusted to not screw up an appraisal on a typical home, but I was still adding SFR competency for years after that. At 3yrs of experience on the non-res side (7yrs total) I could be trusted to not screw up most common non-res property types, but I was still running into new-to-me appraisal situations on a regular basis. I never did try to do *everything*. If a high rise Class A office building or a mall or a golf course or a major hotel or whatnot comes along then I'm making referrals because I never did have any interest in getting away from Main Street.

I don't know if PAREA can be tweaked to cover the broad spectrum of different property types besides just the 1-4s that fit into the GSE pipelines, but if it can be done that coverage would take a participant far longer to complete than what the residential version would take.

YMMV. I think reasonable people will disagree with each other on this issue.