There are a lot of career paths for you to choose from. So why choose a career as an accredited appraiser?
Think about this: there are over 13 million properties in Canada. Their values range up to hundreds of millions of dollars. With that much money involved, expert advice is required constantly. Who gives that advice? The accredited real estate consultant.
What salary can I expect to earn?
The salary you can expect to earn will depend on a variety of factors, such as location, employer, and the type of work you choose to participate in.
Where can an appraiser get a job?
private practice
national corporations
all levels of government
lending institutions
real estate companies
development companies
Is the BCAAIC government funded?
No, the BC Association of the Appraisal Institute of Canad is a Non-Profit Organization; it is funded by membership dues.
How long will it take to become an AACI, P.App or CRA?
The length of time required to attain designation will depend on how long it takes you to complete all eduational requirements. On average it will take approximately 3-4 years to becoma a CRA and approximately 5-7 eyars to become an AACI, P.App.
What are the job prospects?
Demographic studies show that approximately 30% of our members are expected to retire within the next ten years. The Assocaition anticipates that within approximately five years, there will be more appraisal positions than there are individuals qualified to fill them.
Career Opportunites may be viewed by visiting the members section of this site and clicking on Job Postings and at www.aicanada.ca by clicking on Careers then Career Opportunities.
Continuing Professional Development (CPD)
What are the requiremetns for the Continuing Professional Development Program?
Please view the CPD program guidelines at: http://www.appraisal.bc.ca/publications/index.php/listings?c=27 or in the members section at: www.aicanada.ca
How do I post my CPD credits on-line?
You must visit the National website at www.aicanada.ca, enter the Members section by entering your username and password , and then click on "CPD Credits" under the "Member Profile" heading. Follow the on-line instructions.
Education
Is UBC the only place to get the AIC courses?
UBC is the broker of the AIC courses. Education providers who wish to offer the AIC courses, must contact UBC - Real Estate Division. On UBC's website you will find an equivalency matrix for BC. This will provide you with information on equivalencies granted by UBC for some AIC courses offered by other institutions.
I already have a business degree; do I have to take all the courses listed?
There is a Post Graduate Certificate in Real Property Valuation (PGCV) available whereby admission guidelines allow for direct admission for any Business/commerce degree holders who have successfully completed a 4-year degree from an accredited university in Canada.
AIC established the 6 course requirements, which are 330, 331, 442, 452 plus two electives chosen from 300, 401, 443, 444, or 470. The certificate is offered through UBC. Please contact UBC- Real Estate Division for more information or to determine if you qualify. For more information, contact UBC at 604-822-8444 or toll free at 1-888-776-7733.
I have a non-business degree; how does that fit?
Non-business graduates will be evaluated on an individual basis.
Please visit http://www.sauder.ubc.ca/re_creditprogram/programs/aic/pgcv_admin.cfm or contact UBC to determine if you qualify. For more information, contact UBC at 604-822-8444 or toll free at 1-888-776-7733.
What are the education requirements?
Educational requirements can be found on the National Website at: http://www.aicanada.ca/e/careers_designation.cfm
Hiring an Appraiser
What does an Appraiser do?
An appraiser provides you with an impartial estimate of opinion of value of real estate. The appraisal is usually a written document setting forth an opinion of value for an adequately researched property as of a specific date and supported by the presentation and analysis of relevant data.
An accredited appraiser provides support, advice and valuations on real property. An accredited appraiser is a trained professional who observes, researches and analyzes the real estate market, taking into account the myriad of contributing factors that affect value. They are interested in facts, and will thoroughly investigate the property being researched. In order to do the job to the best of their ability, they keep abreast of current market trends, the general value of real estate in the area, taxes and special assessments.
It is a vital role in the world of real estate, a role that's become even more important in today's ever more value-conscious society.
Designated members provide a wide range of services, including the following:
* Arbitration
* Absorption Studies
* Market Analysis
* Expropriation Appraisals
* Counseling and Consulting
* Highest & Best Use Analysis
* Estimated Market Value
* Expert Witness Testimony
* Litigation Support
* Cost-Benefit Studies
* Feasibility Studies
* Management Advice
* Market Rent & Trend Studies
* Operating Expense Analyses
* Tax Assessment Review & Advice
* Zoning & Land Use Testimony
* Appraisals
Why should I get an appraisal?
Investing in real property, either buying or selling, can be one of the largest financial decisions you will make in your life. An appraisal offers an unbiased, informed opinion of the market value of the property you are interested in.
Services: Professional opinions on real property valuation are provided on:
* Feasibility studies and consulting services
* Future value of property being developed
* Mortgage security purposes
* Property tax assessments
* Capital gains and income tax purposes
* Estate and litigation matters
* Compensation due to expropriation situations.
* Current value of a property being bought or sold
When hiring an appraiser, what types of questions should I ask?
You may find the following questions helpful in your search for a suitable appraiser:
· What professional designations do you have and from what organizations?
· How long have you been in practice?
· What level of experience do you have in this particular market and with this type of property?
· Are you familiar with property in this neighborhood?
· What types of clients have you had (homeowners, estates, lenders, relocation companies)?
Why should I hire a member of appraisal institute of canada?
Members who hold the AIC designations of AACI, P.App or CRA have met rigorous educational & experience requirements. They adhere to strict standards of professional appraisal practice and ethics. All members are required to participate in continuing education programs making them the preferred choice for high quality appraisal services.
How much will an appraisal cost?
The appraiser will suggest an appropriate fee based on the anticipated work involved in the project. The fee will depend on the complexity of the assignment, the appraisers expertise, knowledge and reputation. The cost of an appraisal is relatively small in relation to the overall cost of your investment.
Member Services
What does the Provincial Association do and what does the National office do?
In 2002, the Appraisal Institute of Canada completed another significant re-structuring exercise. They have also researched and now adopted a report that outlines the national and provincial roles and responsibilities.
Provincial Responsibilities:
Public inquiries as to how to become a member of the Institute
Members Recruitment
Applications for Candidacy
Applied Experience Program Applications
Designation Examination(s)
Member Reinstatement
Member Retirement
Member Resignations
Continuing Professional Development program inquiries
Professional Development Seminars; Standards Seminar (2 day)
Media Contacts (local/provincial reporters)
Promotion of the profession (provincial presentations, advertising, etc)
National Responsibilities:
Membership fee services (dues, receipts)
Professional Liability Insurance Program (outsourced)
Professional standards including advise on interpreting the Standards
Professional practice (inquiries, complaints)
Distance learning Standards Seminar
National communications and media relations issues
National Conferences
Please contact your provincial association if you need clarification about whether the issue you are concerned about is a national or provincial responsibility.
On Membership
Are Membership dues pro-rated?
The National and Provincial dues are not pro-rated. However, if you join in the last three months of the invoice period, the BC portion of membership dues is reduced to 1/4. First year candidates are granted a reduction in National dues. You will also be required to pay the ful amount of the annual fees for the ensuing year.
How quickly will my membership be activated?
Your membership will be effective on the date money and documentation is received in our office. The Membership year runs from October 1 to September 30.
When will my insurance be effective?
Providing you pay your insurance invoice within 30 days of receiving it, you will be covered as of the membership join date provided by BCAAIC.
The Appraisal Institute and BCAAIC
What is an AACI, CRA, P.App?
AACI (Accredited Appraiser Canadian Institute) designates fully accredited membership in the Institute and may be used by the holder in connection with the appraisal of a wide range of property types.
CRA (Canadian Residential Appraiser) designates members qualified in the appraisal of individual, udeveloped residential sites and/or dwelling sup to four self-contained family housing units.
P.App (Professional Appraiser) may only be used by an accredited member and must immediately follow the AACI designation.
British Columbia Association
of the Appraisal Institute of Canada: 845 -
1200 West 73rd Avenue Vancouver, B.C. V6P 6G5Tel:
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There are a lot of career paths for you to choose from. So why choose a career as an accredited appraiser?
