Requires State Real Estate Appraiser Board to adopt alternative program to acquire experiential requirements for prospective real estate appraisers attempting to qualify for licensure or certification.

This bill requires New Jersey's State Real Estate Appraiser Board to adopt the Appraisal Foundation's Practical Applications of Real Estate Appraisal (PAREA) program as an alternative option for meeting hands-on experience requirements. Currently, aspiring appraisers must find a licensed supervisor to oversee their training, which can be difficult with no formal matching process. The PAREA program allows prospective appraisers to fulfill all experience requirements through virtual simulations combining appraisal theory with mentorship, eliminating the need to secure a supervisor. This change directly affects individuals seeking real estate appraiser licensure or certification in New Jersey.