PAREA program

[Joyce Potts]

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?

Do the mentors get paid?

After I heard the AI ~$1Mil to graduate ~seven (7) people--I thought, why not give ten certified appraisers $100K over the course of two years to mentor and facilitate ten trainees up through the certification process. Makes far more sense to me. But then that opens up the questions as to the ten people selected to mentor and the criticisms that invites.

 

[Fernando]

Is it me but after 10 years of appraising, I still had some issues.
Now after 30 years of experience, I'm finally comfortable as an appraiser.

 

[Non Sequitur]

Ballpark salary?

First things first, you have to be designated and an Appraisal Institute insider to land the gig. Second, none of the actual figures have been released, even to AI board members. The secret is guarded more closely than the Vatican's Archives. FWIW rumors had it at less than $2k per student, but since most fell out of the program I'm sure that had to be renegotiated.

 

[alebrewer]

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.

That's not a bad thing...

 

[George Hatch]

Acting in the role of the appraiser includes more than the mechanics of research, analysis, opinions and conclusions on the one property. There's more to the role than correctly completing a 1004. Specifically WRT the individual's personal conduct and interactions with others including but not limited to their clients and other users.

For example, appraisers sometimes get criticized - and accused of unethical misconduct - for not being cuddly with brokers or property owners.

 

[LANoble]

I'm a trainee appraiser going for the certified license, and I'm getting ready to apply for the PAREA program, in which one can complete their trainee hours virtually. I'm trying to find out what type of software package(s) will be needed, or whether that would be included in the program as well.

Did anyone complete their practical hours thru the PAREA? Any feedback would be greatly appreciated.

If 1/10th of 1% of the money spent on the PAREA program were used toward educating states on licensing laws and Administrative Procedures there would not need to be an alternative program. If leadership had not misled policymakers and given themselves more authority than Congress, we would not need an alternative program. We would not need the alternate program if individuals had not weaponized USPAP to eliminate competition. If individuals didn't need to cover all of this up - PAREA would never have seen the light of day.

It should be telling to ANYONE that if you CAN'T GET your HOURS through the normal course of business there is a problem.

I am gracefully trying to tell the OP to proceed with caution. The appraiser licensing model is BROKEN for the moment and there is no oversight, just anticompetitive "rules" made up by competitors. The creators of the escapades are experts at giving the appearance of something magnificent. Be vigilant in your research.

There is also a comment period opened at the ASC. Let Congress know what you think about your appraiser licensing experience.

Federal Register :: Request Access

Congress needs to hear from aspiring licensees like you. Good luck!

 

[J Grant]

The reason residential appraisers sponsoring trainees came to a near halt is that AMCs were given a large share of the work, and their fees are too measly for a res license to share with a trainee. Now with PAREA and hybrids, and Data collectors etc, the entities are performing pretzel tricks to make up for it, rather than correct the real problem, which is the AMC fee split legal per the HUD needs to be eliminated let the elder compensate teh AMC from their own funds. Pay full borrower appraisal fee go to the appraisers, whether a lender used AMC not

This leads to the other reason few want to train a trainee for a lousy future in a low-pay field with horrid working conditions - no amount of PAREA can fix that,