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 Qualifications Board's "Practical Applications of Real Estate Appraisal" (PAREA) program as an alternative way for prospective appraisers to gain required experience. Currently, applicants must find a licensed appraiser to supervise their on-the-job training, which is often difficult with no formal support system. Under the bill, the PAREA program would allow applicants to fulfill all experience requirements through virtual simulations of real-world appraisal work, guided by mentors. This change directly affects individuals seeking real estate appraiser licenses or certifications in New Jersey.