PAREA: Darn the torpedoes / 3 Sheets to the Wind

[alebrewer]

Yes I did, your SRA demo wasn't completed in a vacuum, every licensed SRA has mentored live assignment experience before certification.

You didn't tell me what the difference was/is between a practice assignment and a 'live' assignment. What you told me was that the SRA demo wasn't done in a vacuum, and that those performing SRA demo's had performed live assignments prior. That doesn't explain the practical difference between a live assignment and a practice assignment. Seems to me they're 'functionally' the same set of tasks. Problem identification, data gathering, analysis, reporting...

 

[alebrewer]

Because I've read what is now law in my state, and I'm in contact with someone who is developing a course.

But I understand your doubts, here's a video of the father of PAREA demonstrating what he envisions (and take note-not a single mention of an actual live assignment):

So is your point that, if you've only done VR measuring, you're not equipped to do 'real' measuring?

 

[glenn walker]

If State Boards had done a better job I doubt PAREA would even be around. Our State Boards Director is not even a Appraiser and was a Social Activist before getting appointed. PAREA could do no worse than this . As far as Louisiana from what I have followed over the years that Board is flat out wacko-who wasted their members money fighting FTC -Wanting to eliminate AMC's out of their State and involved in other money losing causes. So what good would they be to a new appraiser ?

 

[Lindseyw]

Your SRA is not a state certification. And the demo wasn't completed in a vacuum, you likely had years of real-world experience before you completed it (not to mention a mentor, which again is not required with PAREA). PAREA noobs will not have any real-world experience before they "earn" a state certification and are let loose on the public, I just don't agree with anyone who thinks that's a good idea

I think PAREA could help partially, just because it is hard to get into the industry. But I totally agree the program standards are horrible! I recommended to our state appraisal board when they were requesting comments for the PAREA program and I suggested at least 50% experience should be hands on and with a local appraiser AND WAY MORE REPORTS!! But…..they approved the PAREA program as is and it’s 100% a terrible idea. Upon heavy research of the program, I found out Big money is behind it all…surprise, surprise. Check out the presentation presented by Clear Capital and Class Valuations to FHFA last year:

https://www.fhfa.gov/Videos/Documents/Appraisal-Public-Listening-Session-Presentations_2112021.pdf

 

[alebrewer]

I suggested at least 50% experience should be hands on and with a local appraiser AND WAY MORE REPORTS!!

Do you have a solution for where these folks get said 50% experience with a local appraiser - when there are no local appraisers willing to take on trainees?

 

[glenn walker]

Do you have a solution for where these folks get said 50% experience with a local appraiser - when there are no local appraisers willing to take on trainees?

This is the problem I have not known any appraisers willing to take on new trainees in quite a few years. The state Boards have made it more and more difficult as have lenders . The Money Center Banks and Large Agencies know the system is broken and now will have to join forces and support new ways to get people trained. I never had any real mentors when I started out. One of them went with me to the first two inspections and after that I was on my own. All that saved me is I had been a Realtor for a few years and I had some idea about homes and comparables but my first three years I was winging it.

 

[alebrewer]

This is the problem I have not known any appraisers willing to take on new trainees in quite a few years. The state Boards have made it more and more difficult as have lenders . The Money Center Banks and Large Agencies know the system is broken and now will have to join forces and support new ways to get people trained. I never had any real mentors when I started out. One of them went with me to the first two inspections and after that I was on my own. All that saved me is I had been a Realtor for a few years and I had some idea about homes and comparables but my first three years I was winging it.

Good friend at the ATA (Association of Texas Appraisers) publishes a list of folks searching for supervisory appraisers - of course, there aren't ever any takers.

 

[Lindseyw]

Do you have a solution for where these folks get said 50% experience with a local appraiser - when there are no local appraisers willing to take on trainees?

I wish I did, but 3 reports isn’t enough. Trust me, I know how difficult it is to get an appraiser to train you. 3 years ago, I quit working for my general sup after 6 months because she pulled some shady moves. I called almost every single appraiser in two counties just to be told no (though I had hours of experience, my trainee license and all my pre-req classes completed) and second to the last appraiser said he would take me on. I was panicking but it worked out.

States should at least setup a mentoring program with licensed appraisers within the same state after the trainee takes all the required courses. Having a trainee with some type of intermediate knowledge should make it easier for a willing appraiser to mentor a newbie.

Won’t matter anyway, the AMCs are gonna scoop the newbies up as staff appraisers and turn them into button pushers and relying on proprietary AVM models for support.

 

[glenn walker]

Good friend at the ATA (Association of Texas Appraisers) publishes a list of folks searching for supervisory appraisers - of course, there aren't ever any takers.

Very Sad A Hard Time For Many New People. I try not to discourage new people or ones that want to get into this but I honestly have no answers for them. We created a real Clutter-F system that appears to be beyond repair.

 

[alebrewer]

States should at least setup a mentoring program with licensed appraisers within the same state after the trainee takes all the required courses. Having a trainee with some type of intermediate knowledge should make it easier for a willing appraiser to mentor a newbie.

Any ideas on how those credentialed appraisers would be compensated for being mentors?