Adoption of AI PAREA Continues to Grow, 43 States on Board

The incorporation of the Appraisal Institute's Practical Applications of Real Estate Appraisal, known as AI PAREA, into state laws and regulations is gaining momentum. Forty-three states indicate they are willing to accept it fully, partially or by reference as an alternative for residential appraiser licensing experience requirements; 37 states indicate they will accept it to satisfy 100% of experience requirements.

Additionally, the laws in five states fully incorporate the Real Property Appraiser Qualification Criteria by reference, and because RPAQC includes AI PAREA, it should be fully accepted in those states.

Kansas has indicated acceptance of AI PAREA, but only to satisfy 50% of the experience requirements. Officials based their level of acceptance on a previous RPAQC allowance wherein only 50% of a trainee’s valuation work used for experience credit can be performed without a typical client or be obtained via a practicum program. The allowance has been changed to 100%, but that does not yet change how the state will accept PAREA.

The Appraisal Institute continues to work with state regulators to ensure universal acceptance of AI PAREA when it becomes available later this year. See all AI PAREA-related statutes and regulations.