Appraisal Now Apr 11, 2025

PAREA Gains Momentum: New State Approval, Grads & Scholarships

Appraisal Now with commercial and residential property

In this issue:

State Expansion: Alabama is the 39th state to approve PAREA, pushing toward nationwide adoption.
Graduate Success: 21 new participants in March; 100% exam pass rate among graduates.
PAREA Support & Impact: 32 scholarships awarded; 175 participants, 28 graduates, 17 now licensed.

Insights

PAREA Momentum Builds: New Graduates, State Approvals, and Expanded Support

The Appraisal Institute’s PAREA program continues to make strong progress and shape the future of the appraisal profession.

Alabama Joins as 39th PAREA-Approved State

Alabama has officially approved PAREA, becoming the 39th state to recognize the program. This approval opens new doors for aspiring appraisers in the Southeast and brings us closer to nationwide adoption.

PAREA Participation Continues to Grow

The program gained 21 new participants in March. Earlier this week, the Appraisal Institute invited 12 more individuals to register, bringing even more future appraisers into the field.

Celebrating New Graduates

Last week, we celebrated three new PAREA graduates! So far, 100% of PAREA graduates who have taken the licensing exam have passed on their first attempt, underscoring the strength and success of the program.

Scholarships Support New Entrants

The Appraiser Development Initiative awarded 32 Pathways to Success scholarships, funded by The Appraisal Foundation last week, and will begin enrolling the first round of recipients this month. These scholarships help break down financial barriers and create a more inclusive pipeline for the profession.

PAREA Participation Snapshot

175 registered PAREA participants
- 28 graduates
  - 17 AI PAREA graduates passed their exam on the first try and now hold a Licensed Residential credential.
  - 12 participants are working on final assignments.
  - 135 participants are progressing through practice assignments.

PAREA continues to deliver meaningful results—more approvals, more participants, and more success stories. As we welcome new states, expand access, and support more appraisers through graduation and licensure, we remain focused on building a stronger appraisal profession.

Stay tuned for more milestones as PAREA continues to grow.

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Advocacy Updates

Chairman Mike Flood to Address AI’s Legislative Day on May 14

The Appraisal Institute is proud to announce that US Rep. Mike Flood (R-NE) will address attendees during AI’s first-ever Legislative Day, taking place May 14-15 in Washington, D.C.

Rep. Flood serves as chairman of the House Financial Services Subcommittee on Housing and Insurance, which has oversight of key appraisal policy issues. His participation underscores the importance of Legislative Day as a platform for appraisers to advocate on behalf of the profession at the highest levels of government.

Legislative Day will bring together AI members from across the country to engage with lawmakers and advance solutions that support credible, independent appraisal practice. Rep. Flood’s remarks will provide valuable insights into the congressional outlook on real estate valuation and the role of appraisers in today’s real estate and housing markets.

Attendees will also receive advocacy training and meet with their elected officials on Capitol Hill to discuss the industry’s top priorities.

Don’t miss this opportunity to hear directly from one of Congress’s most influential voices on appraisal policy.

ASB Seeks Input on Generative AI and Appraisal Standards

On April 23, the Appraisal Standards Board will host a public webinar to solicit feedback on a new concept paper titled “Generative AI and Appraisal Standards.” This paper explores the implications of generative artificial intelligence (AI) tools for the appraisal profession and seeks input on whether existing standards adequately address emerging technologies or whether new guidance is needed.

As generative AI becomes more accessible and its potential applications in real estate valuation increase, the ASB is taking a proactive step by calling for stakeholder insights. This discussion could help shape the future of the Uniform Standards of Professional Appraisal Practice (USPAP) as the profession navigates AI-related opportunities and risks.

Appraisers, educators, regulators, and other industry stakeholders are encouraged to review the concept paper and participate in the April 23 session to ensure their perspectives are represented in this early stage of policy exploration.

Real Estate Horizons

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Until next week,
Team Appraisal Institute

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