PAREA program

[J Grant]

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.

Only two graduates - next year, perhaps they will graduate a grand total of 10?.

People will not enter or remain in this field as long as (for a res license ) the opportunities and pay are so limited - the TAF is well aware of the AMC predation and act like it does not matter, and they must be aware by now that the Fannie and Freddie decisions to expand waiver use, which contracts appraisal use, decreases the work volume substantially. The reality is that there are limited sources of alternative volume compared to lending, so any potential entrant into the field will sooner or later come up against these realities.

A rare few who specialize, or are the only appraiser in a remote area, or get an appraisal manager job with a company that rewards loyalty might be the exceptions. County assessor jobs are an option,

Good luck PAREA grads,- my advice is next obtain a st Gen / commerical license afterward because that is the path to a better career in appraising. AI will affect all appraisers as it will everybody, IMO we can partner with it if things develop further in application,

 

[J Grant]

I want to add that a number of us here offer advice in the appraisal topic section, and also will answer PM emails wrt to appraisal problems. So , PAREA grads, ask away!

I do it and (I suspect others do for the same reason ) - even though I warn newbies about the difficulties of making a living, the field will need at least some appraises on the res side and hopefll educated intelligent ones who love the process. One runs into real-world challenges in field assignments when applying what one is taught hits the reality of the many weird things that happen out in the market. Even seasoned appraisers ask their peers for help and opinions from time to time.

 

[Joyce Potts]

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

I was an RM, SRA and AI-RRS between 1984 to 2022.

 

[Non Sequitur]

in the next six months.

Last I heard 9 completed PAREA, and 2 passed their state test. But it's anyone's guess, the Appraisal Institute has more secrets than the Vatican. Which reminds me, have they announced when the Conclave will be held for the new CEO?

 

[J Grant]

Last I heard 9 completed PAREA, and 2 passed their state test. But it's anyone's guess, the Appraisal Institute has more secrets than the Vatican. Which reminds me, have they announced when the Conclave will be held for the new CEO?

It's a sad drip of a number and proof that they can spin it all they want, but people have internet access these days and can search the numerous boards and sites where appraisers tell the truth and disclose how horrible the business has become.

Kudos to the few brave souls who complete PAREA. I hope they can make a living and find working conditions tolerable. If not, they will be join those warning others about the profession. as a viable career with a res license only. Some still make a halfway decent living from the res end but things always feels precarious,

The amount of scrutiny aimed at the shrinking number of appraisers and the remaining assignments being mainly problem child orders makes what was a good fee barely compensate for it.

 

[TerryRohrer]

The only numbers we hear are from AI. But more than a year before their first graduate, the Missouri camp had four, and are likely cranking out more than the AI. I suspect RSDS has an in-house program similar to, or under the same authority, and are cranking them out. Truefootage probably is too.

 

[Non Sequitur]

I suspect RSDS has an in-house program similar to, or under the same authority, and are cranking them out.

Not sure about the others, but yes to RSDS.

 

[J Grant]

Not sure about the others, but yes to RSDS.

View attachment 95047

The two graduates did not look very diverse.

I feel sorry if a minority candidate gets lured in under misleading promises wrt the career choice in this program.

 

[Dublin ohio]

Not sure about the others, but yes to RSDS.

View attachment 95047

RSDS claims 84 trainee "graduates" from their in house program not related to practicum. If they keep cutting deals with lenders like they have. They will become one of the largest appraisal "mills" . They claim over 250 appraisers in 70 cities and more to come.

 

[TerryRohrer]

Between them and Bond, maybe 90% of future appraisers will be trained "in" Missouri and will be getting reciprocal licenses throughout the rest of the US. While living in India.