The Appraisal Institute (AI) is seeking new faces and encourages recent graduates and aspiring appraisers to consider a career in the valuation profession, AI announced on its website.
“The valuation profession is amazing and rewarding to be part of for many reasons,” Appraisal Institute President Jody Bishop said. “Our organization is working diligently to expand opportunities for aspiring appraisers and help them on their path to success.”
AI has several existing programs concentrating on attracting new entrants to the profession, including the Appraiser Diversity Initiative with Fannie Mae, Freddie Mac and the National Urban League, along with the Minorities and Women Course Scholarship Program from the Appraisal Institute Education and Relief Foundation.
The Appraisal Institute Education and Relief Foundation (AIERF) has committed $150,000 over three years to the Appraiser Diversity Initiative. The scholarships cover the three entry level courses required of appraisers and winners are matched with advisers who help them through the education and credentialing process. The AIERF also offers scholarships for existing valuation professionals.
Additionally, The Appraisal Foundation’s Board of Trustees awarded the Pathway to Success Grant to AI for the development of a Practical Applications of Real Estate Appraisal (PAREA) program in collaboration with its partners. The competitive grant application was reviewed, scored and recommended for approval by a team representing foundation trustees, sponsoring organizations and the Appraiser Qualifications Board.
“PAREA is an alternative pathway for aspiring appraisers to gain their required experience hours to become a certified appraiser,” AI said. “Historically, the only option for an appraiser to complete their experience hours was through a supervisor/trainee model that requires the aspiring appraiser to find their own supervisor. PAREA is currently accepted in more than 30 states, and that number is set to increase as more states adopt this alternative pathway.”
“There are numerous benefits to a career in real estate valuation, including flexible schedules, interesting assignments and a solid earning potential,” Bishop said. “Appraisers play a crucial role in the real estate industry by generating credible, reliable opinions of value, as well as consulting and reviewing assignments for their clients. Appraisers offer risk mitigation to help ensure the safety and security of the lending system in reports prepared for financing purposes. Additionally, there are numerous opportunities to offer similar services for litigation, estate planning, portfolio analysis and complicated and unique property types.”