Why Become a Professional Appraiser

Professional Appraisers (P.App.) of the Appraisal Institute of Canada are those who have completed AIC’s rigorous curriculum, experience and examination requirements to earn one of the following designations:

Accredited Appraiser Canadian Institute (AACI™):

The AACI designation is granted to individuals who have completed the AACI program of studies and fulfilled all the professional requirements of the Appraisal Institute of Canada. AACI Members are qualified to offer valuation and consulting services and expertise for all types of real property.

Canadian Residential Appraiser (CRA™):

The CRA designation is granted to individuals who have completed the CRA program of studies and fulfilled all the professional requirements of the Appraisal Institute of Canada. CRA Members are qualified to offer valuation and consulting services and expertise for individual, undeveloped residential dwelling sites and dwellings containing not more than four self-contained family housing units.

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Top 10 Reasons to Become an AIC Professional Appraiser

Become an AIC Professional Appraiser and embark on a career that is personally and professionally rewarding, pays well and gives you the flexibility of working on your own or as part of a wide diversity of organizations involved in real estate—banks, insurance companies, governments, consulting and valuation firms and more.

The salary of a designated appraiser is considerably higher than that of the average Canadian.

The average net income of AIC active members, both fee and non-fee, is $90,000 (2018)
According to Statistics Canada, in 2018, the average Canadian working full-time (30 or more hours per week) made an average of $61,400.

Becoming a fee appraiser increases your opportunity to earn a higher salary.

11% of fee appraisers earn more than $140,000.

Obtaining an AACI designation could mean a six-figure income.

The average gross income of our AACI-designated members is $102,000.
The average net income of AACI-designated members during their first five years as an appraiser is just over $52,000.

Many employers—within private and public sectors—hire designated appraisers.

Real estate consulting
Valuation firms
Insurance/lenders/asset managers
Small appraisal firms
Federal government/agency
Provincial government/agency
Municipal government/agency
Appraisal Management Companies (AMCs)

There is growing opportunity for women within the field of appraisal services.

78% of appraisers currently are men.

The appraisal profession requires analytical competencies.

Over 85% of employers indicate that they are looking for analysis and critical thinking in new appraisers.
Other skills and areas of practice include greater analytical abilities such as statistical modeling, database analysis and development of property tax assessment knowledge.
Development of property tax assessment skills including mass appraisals
Ability to understand and interpret legislation
Additional database analytics and other IT skills

There is significant demand for appraisal services within large employers.

Larger employers will have a much higher rate of turnover due to retirements of almost half (47%) of their Designated Appraisers over the next 5 years.
Most large employers (81%) will be seeking new employees with appraisal expertise in the next 1-5 years.
Over 1,110 new designated appraisers will be required over the next 5 years.

To meet employer demand, the AIC will need to designate over 220 appraisers per year—a substantial increase over current numbers.

Examples of large employers that require appraisal experts include:

Corporate entities, such as Altus, Colliers, Sun Life Insurance, TD Bank and RBC
Public employers, such as each municipality and provincial assessment agencies like BC Assessment or MPAC
Mortgage guarantors, such as CMHC and Genworth
Utility companies, such as Hydro One and Manitoba Hydro
Federal government employers, such as PSPC and CCRA

Smaller employers are primarily specialized real estate appraisal firms.

Most large employers will pay for AIC accreditation and education to enhance their employees’ appraisal skills.

68% will pay membership fees.
74% will pay for AIC candidate courses.
61% will pay for Continuing Professional Development courses and other continuing education courses.

Employers are willing to invest in students to help them become accredited appraisers.

Over 60% of employers (68% of large employers, 61% of small employers) hire students with the intention of having them designated.
Over one third also said they will have openings for co-op students over the next 1-5 years.

Students with an AIC certification will increase their chances of getting a job.

81% of large employers said they are “very likely” to hire appraisers with an AACI designation; 50% indicated that they are “very likely” to hire appraisers with a CRA designation and 54% indicated that they are “very likely” to hire an AIC Candidate.
61% of employers, both large and small, place the highest importance on those students already pursuing the AIC designation, compared to 25% who indicated a Bachelor of Commerce was all that was important.