Clear Capital will Develop Practical Applications of Real Estate Appraisal (PAREA) Program with Focus on Creating a More Racially Diverse Appraiser Population
RENO, Nev. — October 18, 2021 —
Clear Capital, a national real estate valuation technology company, today announced it has signed a Memorandum of Understanding (MOU) with the National Society of Real Estate Appraisers (NSREA), a non-profit appraiser membership association, to partner on ways to accelerate diversity in the appraisal profession.
The main vehicle for achieving this goal is a Practical Applications of Real Estate Appraisal (PAREA) program, which is an alternative to the traditional supervisor/trainee model, allowing participants to satisfy the experience component required to obtain an appraiser license. Clear Capital intends to develop a PAREA program for public use, pending AQB approval. In conjunction, NSREA plans to leverage its resources, established networks and membership to actively promote and recruit prospective appraisers of diverse backgrounds for the program.
As part of the MOU, Clear Capital and NSREA agree to:
- Work together to increase awareness of the appraisal profession and participate in high school and/or college career fairs, when and where possible.
- Strategize for scholarship funding for both veteran and minority class participants recruited into the PAREA program. NSREA can provide Qualifying Education offerings to new entrants, including offerings at Historically Black Colleges and Universities (HBCUs) across the country.
- Collaborate to identify ways to connect Clear Capital PAREA Program participants with internships or other immediate job opportunities after obtaining an appraiser license.
- Identify opportunities to educate the valuation community on valuation discrimination and evaluate how to influence stakeholders evaluating property appraisal and valuation equity.
“We believe strongly in finding both scholarship and employment opportunities for Black Appraisers to help set them on the path to building multi-generational wealth,” said Robbie Wilson, NSREA president. “We believe that, in conjunction with Clear Capital, we’ll be able to elevate awareness of the appraiser profession through this new PAREA Program, and ultimately provide opportunities for veterans and minorities wishing to become appraisers without having to worry about the financial obligations that typically come along with obtaining a license”
“Our stated mission is to build confidence in real estate decisions to strengthen communities and improve lives, and we realize that increasing diversity in the appraisal profession is a vital component to that mission,” said Kenon Chen, Clear Capital’s Executive Vice President of Corporate Strategy.
“While there are varying viewpoints on the topic of appraisal bias and discrimination, virtually everyone agrees that the appraiser profession needs greater diversity, and attracting diverse candidates to join the appraiser community needs to happen as soon as possible to ensure we move our industry forward,” said John Brenan, Clear Capital’s Chief Appraiser. “PAREA is the key. Together with NSREA, we’re further investing in minority communities to help promote education and job opportunities in the appraisal profession. We look forward to being able to offer employment opportunities to new appraisers either through our sister company Clario Appraisal Network, Inc., or through our approved appraiser panel once our proposed PAREA Program is approved.”
About Clear Capital:
Clear Capital is a national real estate valuation technology company with a simple purpose: build confidence in real estate decisions to strengthen communities and improve lives. Our goal is to provide customers with a complete understanding of every U.S. property through our field valuation services and analytics tools, and improve their workflows with our platform technologies. Our commitment to excellence – wherever it leads, whatever it takes® – is embodied by more than 1,400 team members across four brands ( Clear Capital, Clario, CubiCasa, and REO Network ) and has remained steadfast since our first order in 2001.
About National Society of Real Estate Appraisers (NSREA):
The National Society of Real Estate Appraisers, Inc., (NSREA), was organized in the State of California in 1956 as an affiliate of the National Association of Real Estate Brokers, Inc. The mission of NSREA is to provide exceptional services for its members in the core areas of education, designation, training/mentoring, communication, recertification and business development.
Caliber Corporate Advisers for Clear Capital