Modify Licensing Real Est. Appraisers
If enacted, S690 will significantly modify the regulatory framework surrounding real estate appraiser licensing in North Carolina. The introduction of the PAREA program will facilitate a more diverse range of training methods, promoting flexibility and potentially increasing the number of qualified appraisers entering the profession. This alteration aims to address workforce shortages in the real estate appraisal field by making the licensing process more inclusive and less dependent on traditional mentoring relationships, which can be limiting for some applicants.
Senate Bill 690, titled 'Modify Licensing Real Estate Appraisers', is designed to amend the existing North Carolina Appraisers Act to modernize the licensure process for real estate appraisers. The bill introduces the concept of an 'Approved Practical Applications of Real Estate Appraisal' (PAREA) program, which offers an alternative pathway to meet appraisal experience requirements through technology-based training and mentorship, in addition to the traditional supervisor and trainee pathway. This change is intended to enhance accessibility for aspiring real estate appraisers by accommodating various educational backgrounds and experiences.
The overall sentiment toward S690 appears to be supportive within the legislative discussions, particularly among stakeholders who advocate for modernization and inclusivity in vocational training. Proponents argue that the bill will empower a broader demographic of applicants, reflecting changes in education and career pathways in the real estate sector. However, there may be concerns from traditionalists who favor the established supervisory framework, fearing that the new system may compromise the quality of appraisal training.
A notable point of contention surrounding S690 involves the balance between innovation in training methods and maintaining the integrity of appraisal standards. While many support the PAREA program as a progressive step, there are fears that the reliance on technology-based training might not provide the same level of on-the-ground experience that conventional pathways afford. The bill's implementation will also depend on the North Carolina Appraisal Board's ability to effectively regulate and oversee the new educational programs, ensuring they meet the required standards for licensure.