West Los Angeles College (WLAC) is set to launch an innovative real estate appraiser education program this fall, supported by a $100,000 grant from Wells Fargo. The new initiative offers a unique, classroom-based pathway to licensure, aiming to make the profession more accessible to a diverse range of students.
Key Takeaways
- West Los Angeles College received a $100,000 grant from Wells Fargo to establish a new real estate appraiser program.
- The program is approved by California's Bureau of Real Estate Appraisers (BREA) and provides an alternative to the traditional one-on-one apprenticeship model.
- It aims to address talent shortages and improve diversity within the appraisal industry by removing common barriers to entry.
- The U.S. Department of Labor projects 4% job growth for appraisers through 2034, with typical salaries in Los Angeles ranging from $76,000 to $104,000 annually.
A New Pathway to Licensure
West Los Angeles College has introduced a first-of-its-kind program designed to train the next generation of real estate appraisers. Funded by a significant contribution from Wells Fargo, this initiative provides a structured educational alternative for individuals seeking to enter the field.
Historically, becoming a licensed appraiser required securing a supervisory relationship with an established professional, a process that often proved to be a significant barrier. This apprenticeship model could be difficult to navigate, limiting the pool of new talent entering the industry.
Breaking from Tradition
The new WLAC program is among the first in California to offer a competency-based curriculum approved by the Bureau of Real Estate Appraisers (BREA). This model allows students to gain the necessary skills and experience within a classroom setting, supplemented with direct exposure to real-world appraisal assignments.
Students will have the opportunity to engage with licensed appraisers and work on practical projects, ensuring they are well-prepared for the demands of the profession upon completion. According to the college, some students may also be eligible to receive course credit for prior learning, further streamlining their path to licensure.
The Traditional Apprenticeship Model
The conventional route to becoming a real estate appraiser involves finding a certified appraiser to act as a mentor and supervisor for a period of practical training. This one-on-one model has been criticized for being insular and creating bottlenecks that discourage many potential candidates from pursuing the career, particularly those without existing industry connections.
Addressing Industry Needs and Promoting Equity
The real estate appraisal profession has long faced challenges in attracting and retaining a diverse workforce. The reliance on personal connections to find mentorship has inadvertently created obstacles for many qualified individuals. WLAC's program is specifically designed to dismantle these barriers.
“We are deeply grateful to Wells Fargo for their investment in our students and in the future of the appraisal profession,” said Dr. Carmen Dones, Dean at WLAC. “This grant helps us create a more inclusive and equitable pathway into an industry that is vital to fair housing, lending, and economic opportunity.”
By providing a formal educational structure, the college aims to open doors for students from all backgrounds, fostering a more inclusive industry that better reflects the communities it serves. This initiative is seen as a critical step toward ensuring fairness and objectivity in property valuation, which underpins the housing and lending markets.
Career Outlook for Appraisers
The demand for qualified property appraisers and assessors remains steady. According to the U.S. Department of Labor, employment in the field is projected to grow 4 percent from 2024 to 2034. This growth rate is on par with the average for all occupations. Data from Salary.com indicates that real estate appraisers in the Los Angeles area typically earn between $76,000 and $104,000 per year.
Program Leadership and Information
The new program will be led by Professor Chantal Grayson, an experienced real estate professional with a diverse background. As a long-time real estate broker and author, Professor Grayson brings a wealth of practical knowledge to the classroom.
Meet the Lead Instructor
Professor Grayson's expertise extends beyond real estate. She is also a co-founder of the award-winning internet radio station GH3 Radio, demonstrating a unique blend of business acumen and entrepreneurial spirit. Her real-world experience is expected to provide students with valuable insights into the industry's practical and business aspects, both in-person and online.
How to Learn More
For those interested in learning more about this groundbreaking program, West Los Angeles College will be hosting free informational sessions via Zoom. These sessions are scheduled for:
- October 13
- November 11
Additional details and registration information can be found on the college's official website at WLAC.edu/Westweek. The program is set to begin accepting students this fall, marking a significant development in professional education for the California real estate market.
