AN ACT to modify the licensing procedures of the north carolina appraisers act.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  G.S. 93E‑1‑4 is amended by adding the following new subdivisions to read:

(5a)    Appraiser Qualifications Board means the board established by the Appraisal Foundation to set nationwide minimum education, experience, and examination standards for real estate appraiser licensure and certification.

(5b)      Approved PAREA program means a course or program developed by a third‑party provider that has been approved by the Appraiser Qualifications Board and the Appraisal Board, which meets the standards for Practical Applications of Real Estate Appraisal and satisfies the experience requirements for real estate appraiser licensure or certification as required by this Chapter.

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(9a)      Practical Applications of Real Estate Appraisal means the program framework established by the Appraiser Qualifications Board, providing an alternative to the traditional supervisor and trainee method for satisfying real estate appraisal experience requirements through technology‑based training, case studies, and supervision by qualified mentors.

SECTION 1.(b)  G.S. 93E‑1‑6 is amended by adding a new subsection to read:

(a1)    An applicant for licensure as a residential real estate appraiser may satisfy the requirements of subdivision (6) of subsection (a) of this section by completing either of the following pathways:

(1)        Traditional Supervisor and Trainee Pathway. – Complete the supervised experience requirements established by the Appraiser Qualifications Board and adopted by the Appraisal Board.

(2)        PAREA Pathway. – Successfully graduate from an approved Practical Applications of Real Estate Appraisal program and pass the State licensing examination.

SECTION 2.  The North Carolina Appraisal Board may adopt rules to implement the provisions of this act.

SECTION 3.  This act becomes effective October 1, 2025, and applies to applications for licensure on or after that date.