On December 22, 2021, NAR's Real Estate Valuation Committee and the leadership of the NAR Fair Housing Policy Committee attended a hearing session with the Biden Administration's Inter-agency Task Force on Real Estate Valuation and Valuation Justice (PAVE). The PAVE Task Force was founded in June 2021 to combat discrimination in the valuation and home purchase process and comprises managers and employees from 15 federal agencies.
NAR members heard from Task Force representatives and provided feedback on issues related to the review of the valuation process, diversity in the valuation industry, including evaluator training and liaison, and valuation policy, guidelines and regulations. The PAVE Task Force is expected to publish a report on its results in February 2022. NAR staff emphasized the value of working continuously with REALTORS® and industry experts, particularly appraisers, while the task force evaluates and develops recommendations regarding the current property appraisal framework.
Cross-agency Task Force for Real Estate Valuation and Valuation Equity (PAVE)
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