in-20250115-IR-876240631FNA: The Indiana Real Estate Commission (commission) is soliciting public comment on adding rules at 876 IAC 3-3-9.1 concerning the Practical Applications of Real Estate Appraisal program administered by the Indiana real estate appraiser licensure and certification board (board). The commission seeks comment on the affected citations listed and any other provisions of Title 876 that may be affected by this rulemaking.

Notice of First Public Comment Period LSA Document #24-631 Sec. 9.1. (a) This section establishes requirements for accepting completion of a PAREA as an alternative method to satisfy the experience requirements for Indiana certified residential appraiser and general appraiser licenses issued by the Indiana real estate appraiser licensure and certification board (board). (b) For purposes of this section, "Practical Applications of Real Estate Appraisal" or "PAREA" means programs approved by the Appraiser Qualifications Board of the Appraisal Foundation that use simulated experience training and serve as an alternative to the traditional supervisor/trainee experience model of obtaining the required experience for each license. (c) Notwithstanding section 9 and sections 10 through 13.1 of this rule, an applicant for an Indiana certified residential or general appraiser license may submit documentation to the board demonstrating successful completion of a PAREA program in its entirety, and shall be given credit toward the experience hour requirements for each license as follows: (d) No credit for partial hours accrued in a PAREA program shall be awarded to an applicant if the applicant fails to complete the certified residential PAREA program. (e) Before beginning a certified residential PAREA program, an applicant shall have completed all the educational requirements for the Indiana licensed trainee appraiser license as prescribed in section 3.1 of this rule. (f) An applicant seeking to satisfy all, or part of, the experience required for an Indiana certified residential or general appraiser license is not required to obtain an Indiana licensed trainee appraiser license or pass the Indiana licensed trainee appraiser examination. (g) The board may request documentation from an applicant in the form of reports or file memoranda for any appraisal, or portion of an appraisal, completed by the applicant as part of the certified residential PAREA program.