PAREA program

[Elliott]

There is no mystery why Cindy Chance was fired.

Mary Cummins said:


“Could you please provide details regarding your departure as CEO of the Appraisal Institute?”

From what I understand the Board called a secret meeting last night at which they voted to terminate me without cause. People have been saying this would happen since the Q3 board meeting. I heard about them planning to fire me through leaks and innuendo, not from the Board itself or any of the officers. I'm very proud of my work and my focus has always been the welfare of the members and the appraisal profession.

“Is it true that the board voted to terminate your position at an executive session earlier this month?”

I assume the vote happened at last night’s secret meeting, not the one on September 3rd, because I got the notice by email last night. There have been a number of special, secret meetings and there was no performance review in any legal or practical sense that I could see.

“Were there any disputes between you and the AI board? If so, what were they?”

You’d have to ask them. I’m on the record as recommending governance overhaul, but I wouldn’t call that a dispute- that was a recommendation based on my fiduciary responsibility to the organization. I was executing successfully and communicating transparently to the Board and the membership regarding my progress on our board approved goals.

“Are you considering legal action?”

I'm not one to back down in the face of injustice. Appraisers have a responsibility for the public trust - and that’s important to consider in bringing any and all issues to light.

 

[Joyce Potts]

Mary Cummins said:


“Could you please provide details regarding your departure as CEO of the Appraisal Institute?”

From what I understand the Board called a secret meeting last night at which they voted to terminate me without cause. People have been saying this would happen since the Q3 board meeting. I heard about them planning to fire me through leaks and innuendo, not from the Board itself or any of the officers. I'm very proud of my work and my focus has always been the welfare of the members and the appraisal profession.

“Is it true that the board voted to terminate your position at an executive session earlier this month?”

I assume the vote happened at last night’s secret meeting, not the one on September 3rd, because I got the notice by email last night. There have been a number of special, secret meetings and there was no performance review in any legal or practical sense that I could see.

“Were there any disputes between you and the AI board? If so, what were they?”

You’d have to ask them. I’m on the record as recommending governance overhaul, but I wouldn’t call that a dispute- that was a recommendation based on my fiduciary responsibility to the organization. I was executing successfully and communicating transparently to the Board and the membership regarding my progress on our board approved goals.

“Are you considering legal action?”

I'm not one to back down in the face of injustice. Appraisers have a responsibility for the public trust - and that’s important to consider in bringing any and all issues to light.

Let's see if there's any future legal action. Anyone taking bets?

 

[Non Sequitur]

This is about the only first hand information I could find online and it's a year old. Seems there's more secrecy around the PAREA program than the firing of Dr. Chance,

"I began PAREA this week and got to meet my mentor. He is top notch in the field and experience of 40+ yrs as a licensed residential appraiser. The software is all provided in the cost to take PAREA ($4k) and it sure is a lot cheaper than paying for college credits. It’s a “necessary evil” in some sense for me because I come from Real Estate background and have been a Real Estate Broker for 12 yrs. Having to do the course work and practice assignments definitely have been challenging but they are meant to be. I am growing and being molded into the future of appraiser professionals - one’s who do not solely rely on lending institutes for all of their business. I will be well rounded upon completion of these assignments on AI PAREA. And my mentor says the first class began in July 2023 so no one has graduated yet. It is intended to take 18 months to complete in full."

And I'll add, from conversations I've had with a few involved you will need better than average excel skills. Below is a link to a handout from the AI. Good luck.

https://www.appraisalinstitute.org/...ss-with-AI-parea-for-licensed-residential.pdf

 

[Zoe]

If you want information on the PAREA program, contact Jennifer Marshall. She will be more than glad to fully answer any questions you may have. If you're unable to find her contact information, contact me at Orlando Appraiser @ aol . com (no spaces) and I'll connect you two.

Are you still SRA or did you drop your designation? I thought you were and SRA at one time.

 

[Btrentt]

This is about the only first hand information I could find online and it's a year old. Seems there's more secrecy around the PAREA program than the firing of Dr. Chance,

"I began PAREA this week and got to meet my mentor. He is top notch in the field and experience of 40+ yrs as a licensed residential appraiser. The software is all provided in the cost to take PAREA ($4k) and it sure is a lot cheaper than paying for college credits. It’s a “necessary evil” in some sense for me because I come from Real Estate background and have been a Real Estate Broker for 12 yrs. Having to do the course work and practice assignments definitely have been challenging but they are meant to be. I am growing and being molded into the future of appraiser professionals - one’s who do not solely rely on lending institutes for all of their business. I will be well rounded upon completion of these assignments on AI PAREA. And my mentor says the first class began in July 2023 so no one has graduated yet. It is intended to take 18 months to complete in full."

And I'll add, from conversations I've had with a few involved you will need better than average excel skills. Below is a link to a handout from the AI. Good luck.

https://www.appraisalinstitute.org/...ss-with-AI-parea-for-licensed-residential.pdf

Can it be completed any sooner than 18 months?

 

[Dublin ohio]

"I began PAREA this week and got to meet my mentor. He is top notch in the field and experience of 40+ yrs as a licensed residential appraiser.

So if taking PAREA you "mentor" only has to be licensed? Not that I doubt the licensed appraiser is capable.

 

[Non Sequitur]

Can it be completed any sooner than 18 months?

From what little has been leaked, 12-18 months is the pace. But the fall out rate is ridiculous, again from what has leaked around 90% haven’t completed the course.

I see you’re in MS, a better bet is Melissa Bond and MPAT. I’m not a a fan but to her credit she has graduated more students than the Appraisal Institute’s PAREA. But you will have to apply, and if you don’t fit the mold of who she thinks is a good fit to be an appraiser then you’re out of luck. Not much different than finding a mentor, although they don’t want to admit it.

Either way a bit of advice, and remember I’m not trying to sell you a class. Certified residential appraisers are dropping like flies, even through the absolute crazy busy pandemic time period. And neither program will get you to certified, and what they won’t tell you is licensed will severely limit your ability to land the work that Ms. Bond and the Appraisal Institute say they are training you for. So you will probably be someone’s de facto trainee for many years until you become certified, so don’t buy the dream they are selling, you have years of hard work and low pay ahead of you. Go into this with your eyes open and make the best decision for you and your family. Good luck.

 

[Terrel L. Shields]

And my mentor says the first class began in July 2023 so no one has graduated yet. It is intended to take 18 months to complete in full."

Seem as 18 months is elapsing, we should start seeing some grads and their work soon, right?

 

[Non Sequitur]

Seem as 18 months is elapsing, we should start seeing some grads and their work soon, right?

View attachment 95032

Define soon.

Anyway, here’s a YouTube link of TAF parading the first two around. I really feel for them and don’t believe they are being told the truth.

A slide in Fannie’s traveling road show illustrates close to a 20% drop in unique licenses completing appraisals for them in the prior 8 years, including the crazy busy pandemic period. Anyone who tries to sugar coat those numbers isn’t being honest, it’s a flat out blood bath right now in this business. And from what I see in my market, many who are still around are part time. But those selling the classes are encouraging their students to stay away from social media so the noobs only hear from the so called mentors who tell them how boots on the ground appraisers didn’t want to train them because we don’t want competition.

 

[Terrel L. Shields]

Define soon.

in the next six months.