PAREA: Darn the torpedoes / 3 Sheets to the Wind

[Highlander416]

Couple of thoughts: once someone has their credential, they're not a 'PAREA' appraiser - they're just an appraiser - no different than you or me (depending on credential level of course). (2) If the reason for not allowing PAREA appraisers into the profession is to limit the number of appraisers, that is, in effect, collusion to set prices. I'm generally not in favor of actions that serve to keep prices for a good or service artificially high.

My point is that a PAREA graduate may not be in any better shape than a trainee that never finds a mentor. The only difference is the amount of time, effort and money they put in to find that out. It is like a human resources department for a business hiring for a position that was already elliminated by the company. The office is now a supply closet.

 

[Non Sequitur]

My point is that a PAREA graduate may not be in any better shape than a trainee that never finds a mentor.

The PAREA grad will be certified, and they don't need a mentor before, during, or after. Their certification will be as valid as any other.

 

[shrubberyvaluation]

Couple of thoughts: once someone has their credential, they're not a 'PAREA' appraiser - they're just an appraiser - no different than you or me (depending on credential level of course). (2) If the reason for not allowing PAREA appraisers into the profession is to limit the number of appraisers, that is, in effect, collusion to set prices. I'm generally not in favor of actions that serve to keep prices for a good or service artificially high.

Couple of thoughts. 1. If some people think there are not enough surgeons would you think a PAREA type alternative would be a good option? 2. Lowering experience requirements is not the only option to increase appraisers in the profession. If there is a lean towards hybrids why not instead let trainees do it for their mentor who knows what information they need rather than some random person. So clients will be ok with a certified appraiser who has never done an appraisal report with an interior inspection.

 

[shrubberyvaluation]

The PAREA grad will be certified, and they don't need a mentor before, during, or after. Their certification will be as valid as any other.

They may need a mentor if they actually want to do a credible appraisal.

 

[Sadie]

The PAREA grad will be certified, and they don't need a mentor before, during, or after. Their certification will be as valid as any other.

Regardless of how an appraiser is licensed, for many lenders an additional 3 years of experience is required in order to be placed on a panel, even if a lender approved appraiser is willing to countersign the appraisal. So, about 5-6 years before an appraiser can be making a living and the supervisory appraiser can recoup expenses. I blame HVCC.

 

[alebrewer]

My point is that a PAREA graduate may not be in any better shape than a trainee that never finds a mentor. The only difference is the amount of time, effort and money they put in to find that out. It is like a human resources department for a business hiring for a position that was already elliminated by the company. The office is now a supply closet.

That remains to be seen... my guess is that PAREA graduates will be better equipped than someone who is trained by Billy Bob. At this point, though, who knows. As to your point about it not working out - if we all had that mentality, we'd never try anything new....

 

[alebrewer]

Couple of thoughts. 1. If some people think there are not enough surgeons would you think a PAREA type alternative would be a good option? 2. Lowering experience requirements is not the only option to increase appraisers in the profession. If there is a lean towards hybrids why not instead let trainees do it for their mentor who knows what information they need rather than some random person. So clients will be ok with a certified appraiser who has never done an appraisal report with an interior inspection.

Couple of thoughts: (1) we're not doing brain surgery, so I kind of think that's a poor analogy. (2) I didn't realize the experience requirements were lowered? Just that they were obtained via an alternate route, no? As to your point about allowing trainees to do inspections - I've always advocated for that. Blame the mortgage lenders for that mess...

 

[shrubberyvaluation]

Couple of thoughts: (1) we're not doing brain surgery, so I kind of think that's a poor analogy. (2) I didn't realize the experience requirements were lowered? Just that they were obtained via an alternate route, no? As to your point about allowing trainees to do inspections - I've always advocated for that. Blame the mortgage lenders for that mess...

We are not doing brain surgery but its an appraisal on what is the most expensive purchase someone will make or close to it. It might not be the best analogy but if you were lending 6+ figures what would you prefer?

Maybe I got it mixed up with PAVE who is advocating lower requirements.

 

[Highlander416]

The PAREA grad will be certified, and they don't need a mentor before, during, or after. Their certification will be as valid as any other.

No point in arguing. We will see how it all works out.

 

[Highlander416]

That remains to be seen... my guess is that PAREA graduates will be better equipped than someone who is trained by Billy Bob. At this point, though, who knows. As to your point about it not working out - if we all had that mentality, we'd never try anything new....

I would say the same of a student considering a college degree program with low placement after graduation.