PAREA FAQs

The Appraisal Institute Practical Applications of Real Estate Appraisal (AI PAREA) is an alternative to the traditional supervisor and trainee requirement for experience for the Licensed Residential Real Property Appraiser (LR) and Certified Residential Real Property Appraiser (CR) credentials. It’s an online program providing simulations that show participants how to apply appraisal theory and methodology to real-world examples, with mentoring and guidance from appraisers who hold the most recognized designations in the profession and have a combined 150 years of experience.

With the help of an assigned mentor, you will appraise properties in a simulated environment, applying what you learned from your qualifying or pre-licensing education to real-life situations. You’ll meet regularly with your assigned mentor for support and guidance as you work through 10 practice assignments and other immersive activities.

You’ll finish the program by completing three graded USPAP-compliant appraisal reports on your own.  

Ready to get started? The first step is to complete your Readiness Checklist.

One of the benefits of AI PAREA is that you can complete the program modules at your own pace, with required mentor check-ins. We anticipate most participants will finish the program within 18 months, including 12 months for the practice assignments and immersive activities, and six months for the three final assignments. 

1. Education Hours: Before enrolling in AI PAREA, complete a readiness checklist to make sure you meet the minimum education requirements set by the Appraisal Qualifications Board (AQB). Our team will help you verify your qualifying education credits to ensure you’re eligible.  
2. Experience: AI PAREA fulfills the AQB experience requirement in many states. Check if it fulfills the requirement in your state! 
3. Examination: Once you meet the education and experience requirements, all that’s left is to pass the appropriate National Uniform Licensing and Certification Examination to become either a Licensed Residential Real Property Appraiser (LR) or Certified Residential Real Property Appraiser (CR). We have resources to help you prepare, including our practice exam course.

Check if your state accepts AI PAREA.

If your state does not accept AI PAREA:

The Appraisal Qualifications Board specifies that as a PAREA provider, AI must ensure our program is accepted in the state in which you plan to be credentialed before we can accept you into our program.

Before starting a PAREA program, you should check with your state regulatory board or authority to make sure the PAREA program experience will be accepted and determine if there are any additional requirements in your state. For example, some states may require additional state-specific education and/or that qualifying education be completed less than five years before applying for a license.

Until your state accepts PAREA, you will not be eligible to enroll. 

Reciprocity as an Alternative

Some states that do not accept PAREA will issue licensed residential and certified residential credentials if those credentials were earned in other states (this is called “reciprocity”). If you live in a state that doesn’t accept PAREA as an experience alternative, you may be able to obtain credentials in a different state from which reciprocity is accepted. 

Be sure to verify with your state regulatory board or authority before enrolling in PAREA.

You can register for AI PAREA when your Readiness Checklist has been verified.

No, but if you join AI as a Practicing Affiliate, you’ll get a discounted rate for the program, along with many other timely benefits. So why not join? Learn more about joining AI. 

AI PAREA for AI Professionals: $3,995

• 12 payments of $332.92 with monthly installment plan
• 4 payments of $998.75 with quarterly installment plan

AI PAREA for Non-Members: $4,425

• 12 payments of $368.75 with monthly installment plan
• 4 payments of $1,106.25 with quarterly installment plan

AI Professionals save $430 off the program fee.
Join AI to receive the AI Professional Rate

Our team is here to ensure that financial constraints don’t prevent you from achieving your goals.

Monthly or quarterly payment plans are also available. And remember: Practicing Affiliates receive a discounted rate for the program. Join AI.

You also may qualify for a scholarship! Learn more about the AIERF PAREA Scholarship.

There are multiple scholarships opportunities that can apply to AI PAREA. 

• The Appraisal Institute Education Relief Fund (AIERF) offers a PAREA Scholarship. Learn more.
• The Appraisal Foundation is developing scholarships for PAREA.

Yes, all appropriate qualifying education needs to be completed before you can enroll. Here are the requirements for the Licensed Residential and Certified Residential tracks:

Licensed Residential (150 hours total of QE courses or approved university equivalents):

• Basic Appraisal Principles (30 hours)
• Basic Appraisal Procedures (30 hours)
• 15-Hour National USPAP Course (15 hours)
• Residential Market Analysis and Highest & Best Use (15 hours)
• Residential Site Valuation and Cost Approach (15 hours)
• Residential Sales Comparison and Income Approaches (30 hours)
• Residential Report Writing and Case Studies (15 hours)

The Appraisal Institute also offers online education packages to fulfill these requirements.

Certified Residential (200 hours total of QE courses or approved university equivalents):

The required hours are the same as Licensed Residential (LR) above, but with three additional course requirements:

• Real Estate Finance, Statistics, and Valuation Modeling (15 hours)
• Advanced Residential Applications and Case Studies
• Appraisal Subject Matter Electives (20 hours)

To enroll in the Certified Residential track, you must also already have:

• A valid Licensed Residential (LR) credential; or
• Successful completion of a PAREA program for Licensed Residential (LR) 

No. You are eligible to enroll in AI PAREA regardless of your qualifying education provider.

AI provides best-in-class education! Consider fulfilling your qualifying education prerequisite with us

No. Qualifying education completions, regardless of when they were completed, will meet the program requirements for enrolling in AI PAREA.

However, qualifying education must be less than five years old for licensing purposes in most states.

Don’t worry! We’ll assign you an experienced mentor to assist you throughout the program.

Though AI PAREA does not specifically include in-person interaction, by participating in the program, you get access to various in-person events through local AI chapters around the country, connecting you with a vast network of appraisers with tremendous knowledge and experience. 

Your assigned mentor is there to help guide you to the next step in your career, as well as complete the AI PAREA program. Use your regular meetings to lean on their support and expertise in achieving your goals. As a program participant, you’ll also have access to AI's vast network of local chapters, which is an invaluable springboard for career growth. 

AI PAREA practice assignments use properties throughout the country. You’ll complete assignments from multiple geographic areas. As a program participant, you also gain access to AI Chapter events, connecting you with local appraisers with knowledge of local markets and properties. 

Yes, but any hours you complete as a trainee cannot be applied to AI PAREA. Unlike the traditional experience model, which is based on the accumulation of hours, AI PAREA is proficiency-based. 

If you’ve already started the program but can’t finish it, you can cancel out within 10 days and receive a 100% refund of the entire registration fee with no cancellation fee. 

After 10 days, the refund amount is based on the amount of material completed in the program, minus a $150 cancellation fee. AI PAREA program assignments that have not been completed can be refunded 100%. Program assignments that have been completed will not be refunded.

If you cancel your program and then decide to enroll again later, you will need to pay a new full registration fee and start the program over from the beginning.

To cancel your program, contact AI: send a message online or 312-335-4493. 

Your mentor will be there to support and help you work through the program to complete it within the 18-month timeline. 

Though we believe this timeline is sufficient, we understand that unforeseen circumstances can occur. 

An extension may be possible for unusual situations and must be requested before the expiration of the 18-month access window. Please contact AI PAREA or call 312-335-4493 with any questions. 

Your qualifying education has prepared you with the knowledge to succeed in the AI PAREA program. However, it is possible that AI PAREA may determine, in its discretion, after reasonable program support, that your participation in the program will not be successful at this time. Examples include, but are not limited to not incorporating mentor feedback into assignments, repeated unsuccessful assignment submissions, additional prerequisite knowledge needed, long periods of inactivity, exceeding the Maximum Mentor Support, not meeting the Minimum Progress Requirements, etc. AI PAREA will communicate its concerns and options with you and, if appropriate, you will be provided with a refund in accordance with the program’s refund policy.

Yes! You can resubmit each of the three final assignments twice. 

Yes. The AI PAREA program was designed to be completed within an 18-month period and with Minimum Progress Requirements throughout this period. This includes 12 months allotted for the Practice Assignments, Immersive Activities, and Knowledge Center components; and 6 months for the three Final Assignments. This equates to completing approximately one Practice Assignment per month.

The Minimum Progress Requirements are:

• Participants must complete the Practice Assignments designated as “Level 1” within six months of enrolling.
• Participants must complete remaining Practice Assignments within 12 months of enrolling.
• Participants must complete the three Final Assignments within 6 months of beginning the first Final Assignment.

Participants who do not meet the Minimum Progress Requirements above will be terminated from the program at the discretion of AI.

Your Mentor is available to offer you reasonable assistance and support throughout your participation in the AI PAREA program. Maximum Mentor Support equates to:

• No more than 4.5 hours of Mentor assistance per each Practice Assignment, including Mentor preparation and follow-up for assignment submission reviews and comments, email correspondence, and meetings.
• Your Mentor will usually review and offer comments for no more than three (3) submissions of a particular upload (i.e., an upload is a specific part of an appraisal report for a Practice Assignment that is submitted for Mentor review).
• All Mentor comments should be addressed before a subsequent upload is submitted for further Mentor review. Uploads that only address some, but not all, comments may be returned by your Mentor until all comments are addressed.

All AI participants must agree to the following terms and conditions when enrolling in the AI PAREA program.

I understand and agree to the following:

I have reviewed the AI PAREA Frequently Asked Questions and am aware of the following:

• Total cost of the program
• Minimum technological requirements
• Cancellation and refund policy
• Contact information for inquiries, customer service and complaints
• Minimum Progress Requirements
• Maximum Mentor Support

I certify that I am the person identified under Badge/Roster Information and that I will personally complete each assigned component of AI PAREA, and will not copy another AI PAREA Participant's submission and present it as my own. Each registration for AI PAREA is for a single user only and no other users.

I understand that I am not allowed to share my login credentials, password, or Badge/Roster Information to anyone else. I also understand and agree that I am responsible for maintaining the confidentiality of my login credentials, password, or Badge/Roster Information.

I understand and agree that if I misrepresent my identity, arrange for someone else to represent themselves as me at any time during the program, or share my login credentials, password, or Badge/Roster Information to anyone else, I will be immediately removed from the program and I will not be entitled to any refund.

I will notify the Appraisal Institute of any known or suspected unauthorized use of my account, or any known or suspected breach of security, including loss, theft, or unauthorized disclosure of my login credentials, password, or Badge/Roster Information.

I understand that AI PAREA includes Minimum Progress Requirements, and I agree to adhere to the following Minimum Progress Requirements:

• Participants must complete the Practice Assignments designated as “Level 1” within six months of enrolling.
• Participants must complete all remaining Practice Assignments within 12 months of enrolling.
• Participants must complete the three Final Assignments within 6 months of beginning the first Final Assignment.

Participants who do not meet the Minimum Progress Requirements above will be terminated from the program at the discretion of AI.

I understand AI PAREA includes Maximum Mentor Support, and that the Minimum Progress Requirements should be adhered to with the Maximum Mentor Support identified below:

• No more than 4.5 hours of Mentor assistance per Practice Assignment, including Mentor preparation and follow-up for assignment submission reviews and comments, email/Inbox correspondence, and Teams meetings. I understand that my Mentor may refuse to provide additional assistance (beyond required reviews) after the 4.5 hours have been reached for a particular Practice Assignment.
• At my Mentor’s discretion, my Mentor will review and offer comments for no more than three (3) submissions of a particular upload (i.e., an upload is a specific part of an appraisal report for a Practice Assignment that is submitted for Mentor review).
• All Mentor comments on an upload should be addressed before a subsequent upload is submitted for further Mentor review. Uploads that only address some, but not all, comments may be rejected for review by my Mentor until all comments are addressed.

I understand that if I do not satisfactorily complete assignments in accordance with the above Minimum Progress Requirements and Maximum Mentor Support, my participation in AI PAREA may be terminated at AI’s discretion and I will be issued a refund in accordance with the AI PAREA refund policy.

I further understand that if I am a Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation.

Further, I understand and agree with the following:

The contents of AI PAREA are intended for my personal, noncommercial use. All materials published on AI PAREA (including, but not limited to case studies, photographs, images, illustrations, audio clips and video clips, also known as the "Content") are protected by copyright and owned or controlled by the Appraisal Institute or the party credited as the provider of the Content. I shall abide by all additional copyright notices, information, or restrictions contained in any Content accessed through AI PAREA.

Without the express prior written approval of the Appraisal Institute, I may not reproduce, share, duplicate, distribute, copy, sell, resell, exploit, or otherwise publish any Content of AI PAREA with anyone.

I may not access parts of AI PAREA to which I am not authorized by the Appraisal Institute.

I understand that if I am unable to complete AI PAREA or meet the requirements for appraiser certification or licensure, I will not hold the Appraisal Institute or its directors, officers, employees, agents or representatives responsible in any manner.

These terms and conditions are subject to change at any time, with or without notice.

No. AI PAREA fulfills the AQB experience requirement. It is not an education offering.

No. AI PAREA assignments and activities can’t be applied toward designation requirements.  

The Appraiser Diversity Initiative (ADI) is the premier nationwide program designed to attract new entrants to the real estate appraisal field while fostering diversity in the profession. ADI’s core partners include Appraisal Institute, Fannie Mae, Freddie Mac, and the National Urban League. 

The ADI program provides opportunities to aspiring appraisers and exposes new appraisers to the AI Body of Knowledge and the profession’s best education.

Learn more about the Appraiser Diversity Initiative. 

Participants successfully completing an AI PAREA program will receive the following experience credit:

For participants completing the Licensed Residential AI PAREA program:

• Licensed Residential classification: up to 100% of the required experience hours.
• Certified Residential classification: up to 67% of the required experience hours.
• Certified General classification: up to 33% of the total required experience, none of which is eligible towards the required non-residential hours.

For participants completing the Certified Residential AI PAREA program:

• Licensed Residential classification: up to 100% of the required experience hours.
• Certified Residential classification: up to 100% of the required experience hours.
• Certified General classification: up to 50% of the total required experience, none of which is eligible towards the required non-residential hours.

To enroll in the Certified Residential AI PAREA program, you must already have:

• A valid Licensed Residential (LR) credential; or
• Successful completion of a PAREA program for Licensed Residential (LR). By completing the Licensed Residential AI PAREA program, you also receive 67% of the required experience toward the Certified Residential credential.

Participants who complete a PAREA program for the LR credential earn 67% experience credit for the CR credential. It’s up to each state to decide if the remaining 33% can be earned through the traditional supervisor-trainee experience model to fully satisfy the CR experience requirement. 

Some states will require the completion of CR PAREA if LR PAREA was previously completed. Those states will not allow a combination of LR PAREA + 33% traditional experience to satisfy the CR experience requirement. 

You should check with your state regulatory board or authority to determine their requirements. 

For the best experience, here are minimum hardware requirements:

Windows:  

• Processor: Intel i3 (5th Gen) 
• RAM: 8 GB 
• Graphics: Onboard Intel Graphics 
• Platform: Windows 10 / 11 

Mac:  

• MacBook Air (2018) Processor: Intel i5 
• RAM: 8 GB 
• Graphics: Onboard Intel Graphics 
• Note: The appraisal form software included with AI PAREA enrollment is for PC Windows only.  It will run on a Mac using a Windows emulator such as Parallels Desktop. 

Minimum Bandwidth Requirement: 

• 25 Mbps for download 
• 3 Mbps for upload  

You’ll be given access to appraisal form software and a subscription to a Multiple Listing Service (MLS) as part of the AI PAREA program. 

Program materials will be provided in Microsoft Excel (XLSx), Microsoft Word (DOCx), Adobe Reader (PDF), graphics (JPG/PNG), audio (MP3/WAV), and video (MP4) formats. You will be required to have the appropriate software capable of accessing and viewing the program material files.

Any other materials needed to complete the program will be electronically available during the program. 

Yes, your progress through the practice assignments is tracked locally on your computer. This means you must start and finish AI PAREA on the same computer. If you switch computers or browsers during the program, or clear your browsing history/cache, you may have to click through to repeat some previous material.

Yes, but we recommend you use a personal computer. Although you can access AI PAREA on your mobile device through any mobile browser, you will be viewing and completing various assignments using appraisal forms and spreadsheets that are much better suited to a computer.  

Please send a message online or call (312) 335-4493 if you have any questions or comments about the AI PAREA program.