Typically, appraisers are engaged by a diverse range of clients to provide a professional opinion or consultative valuation services on the quality, value, or utility of a specific property. Appraisals may be required for just about any type of property, including single-family homes, apartment buildings and condominiums, office buildings, shopping centers, hotels, industrial sites, and farms, whenever real estate is sold, mortgaged, taxed, insured, or developed.
The reasons for performing a real property appraisal are varied. Clients typically seek out a professional appraiser for an opinion on:
- current value of property being bought or sold
- future value of property being built
- value for mortgage or lending purposes
- value to assist in investment decisions
- value to measure property tax assessments and other taxes
- value of an impaired property
- value of property to determine compensation where property is to be expropriated
- value of property involved in litigation
- value of private property acquired by governments for public use
- value of property as it affects pending business mergers or dissolution
In addition, there is an increasing demand for feasibility studies and consultative services offered by valuation professionals. In recent years, the real estate industry has experienced significant and ongoing changes. Today’s professional real property appraisers are highly qualified and better able to serve the expanding needs of the marketplace with a wide range of value-added real property advisory, and consulting services. For example, arbitration, expert testimony, cost-benefit studies, asset/portfolio management, due diligence, business valuation, property management and tax assessment appeals are among the value added services now offered by AIC members, serving an increasingly broad base of public and private sector clients.
Below is a collection of advertisements which have been developed, designed and inserted in various publications for the Appraisal Institute of Canada - Ontario. These have been created to assist both the Institute and its provincial partners to meet the Institute's media plan objectives.
Listen to these radio ads to learn more about what AIC members can offer:
To listen to ads: right click, save target as, save, then open
Ad Number 1: List Too High
Ad Number 2: It's Your Dream Home
Ad Number 3: I want the boat and the condo
Ad Number 4: This commercial property
What qualifications do appraisers need?
Real property appraisers need to be able to make prudent judgments and independent decisions. They must be skilled in gathering and evaluating facts, and must understand how to access the variety of data sources that are needed for comparisons and analysis. Technical competence in reading survey drawings and blueprints and identifying construction features and materials is applied in many situations. Mathematical skills are a strong asset for both the technical aspects of inspections and the analysis of markets; strong written and verbal communication skills are also necessary for producing clear, concise reports and for dealing with clients on a daily basis. Critical thinking and analytical skills are essential for individuals involved in formulating opinions who work in consulting and advisory capacities.
Where do valuation professionals work?
Careers are available in:
- private practice
- national corporations
- all levels of government
- banks and other lending institutions
- real estate companies
- development companies
Last updated January 20, 2010