The Appraisal Institute (AI) recently announced the official launch of its Certified Residential Practical Applications of Real Estate Appraisal (PAREA) program, according to a release.

This milestone marks a defining moment in the evolution of appraisal education and training coming as AI PAREA graduates who have taken the state licensing and certification examinations to date maintain a 100 percent first-time pass rate.

“I passed the exam on my first try with no refresher and was thrilled!” Leigha Howell, who completed the AI PAREA Licensed Residential program and went on to earn her Certified Residential credential in South Carolina, said. “While the exam leaned heavily on qualifying education topics, PAREA truly prepared me for real-world appraisal work. Concepts like highest and best use carry a whole new meaning now. In my opinion, PAREA is the new standard for appraisal.”

Aspiring residential appraisers can meet the experience requirements for licensure and certification in the complete, AQB-compliant PAREA program.

Every AI PAREA graduate who has taken an exam to date has passed their state licensing or certification exam on the first attempt.

Additionally, 84 active participants are currently enrolled in AI PAREA’s Licensed Residential track, including 168 participants working through practice assignments, 53 individuals have successfully completed the program, while 31 AI PAREA graduates have earned the Licensed Residential credential with one graduate achieving the Certified Residential credential through AI PAREA.