South Dakota Proposes Rules for PAREA and an Experience Training Program
The South Dakota Department of Labor and Regulation on Sept. 20 proposed new rules regarding virtual education, the Practical Applications of Real Estate Appraisal, known as PAREA, and a new Experience Training Program.
Under the proposed rules, aspiring appraisers may utilize both Appraisal Qualifications Board-approved PAREA programs and the ETP as alternative methods for completing the experience requirements necessary to obtain appraiser credentials.
The ETP is a new program authorized by the South Dakota legislature in 2021 that allows aspiring appraisers to obtain the requisite qualifying education and experience hours under the supervision of one or more trainers who are engaged by the DLR. The ETP is intended to address the shortage of certified appraisers in the state willing to take on trainees.