Why Become an Appraiser | Appraisal Institute of Canada

Designated Members 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.

FIND OUT MORE! REGISTER FOR AIC 101: INTRODUCTION TO THE APPRAISAL PROFESSION

READ: Testimonials from AIC Members

WATCH: Members discussing their exciting careers

Top 10 Reasons to Become an AIC-Designated Appraiser

Become an AIC-designated real estate 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.

1

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 $79,000.
Average net income for fee-appraisers after deductions is $75,000.
Average salary for non-fee appraisers is $86,000.
According to Statistics Canada, in 2010, the average Canadian working full-time (30 or more hours per week) made an average of $56,275.

2

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

Over half (60%) of fee appraisers earn a gross income before business deductions of more than $90,000.
50% of fee appraisers earn a net income of $75,000.
11% of fee appraisers earn more than $250,000.
There is a direct link between income and hours worked.

3

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.

4

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)

5

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

78% of appraisers currently are men.

6

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

7

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.

8

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.

9

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.

10

Students with an AIC designation will increase their chances of employment.

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.

Testimonials:

Selina Enayat

"There are no limitations to growing and the only obstacles we have are the ones we set for ourselves."

Brian Brewer

"One of the things I like most about the appraisal profession is the wide array of interesting projects in which you can be involved."

Jill Zwick

"AIC has afforded me a rewarded career and it engages its Members to attain success through its high standards of professionalism."

David Dawood

"The good thing about being an appraiser is that there really is no expiration date. I have told my colleagues that I hope to be doing this into my 80s."

Josiane Leduc

"Getting to meet people at the AIC Conference allowed me to feel connected to the appraisal world."

Nicholas Rivard

"You have to be passionate about real estate in order to pursue a career as an appraiser."

Samantha Lawrek

"It is important to be able to have discussions with other appraisers and real estate professionals in order to gain outside perspective and keep you sharp."

James Hardy

"The pursuit of knowledge fires the desire for continued education and profession in the appraisal profession."

Christina Dhesi

" Working with lenders, brokers, and municipal leaders, among others, I feel like we are working together to build a vibrant community."

Blake Upham

"I am surrounded by an abundance of professionals with a wealth of experience, who are more than willing to share their time, expertise and knowledge."