Makes amendments to GS Chapter 93E, Article 1 (Real Estate Appraiser) to provide for two licensing pathways for residential real estate appraisers, the traditional supervisor and trainee pathway, and the Practical Applications of Real Estate Appraisal (PAREA) program established by the Appraiser Qualifications Board.

Amends GS 93E-1-4 to add definitions relevant for the new pathways, including the Appraiser Qualifications Board and PAREA.

Adds new subsections (a1)-(a4) to GS 93E-1-6, outlining the traditional supervisor-trainee pathway and the PAREA pathway for becoming a licensed residential real estate appraiser, a certified residential real estate appraiser, and the requirements applicable to PAREA pathway reports required for certification. Specifies that nothing in the new language limits or modifies the authority to grant licensure or certification through traditional supervised experience requirements.

Amends GS 93E-1-9 to specify that out-of-state applicants may only satisfy the requirements of the chapter by meeting substantially similar education, experience, and examination requirements. Explicitly prohibits reciprocity agreements or allowances based solely on licensure or certification in another state.

Authorizes the North Carolina Appraisal Board to adopt rules to implement the act.

Effective and applicable to applications for licensure or certification on or after October 1, 2025.