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 option for meeting experiential requirements. Currently, aspiring appraisers must find a licensed supervisor to gain required experience, which is often difficult. Under this bill, applicants could fulfill up to 100% of their experience requirement through virtual real-world simulations combined with mentor supervision via the PAREA program. It directly affects prospective real estate appraisers seeking licensure or certification in New Jersey.