Appraisal Institute of Canada
Why Become an Appraiser
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.
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.
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.
Employers are willing to invest in students to help them become accredited appraisers.
- 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.
“There are no limitations to growing and the only obstacles we have are the ones we set for ourselves.”
“One of the things I like most about the appraisal profession is the wide array of interesting projects in which you can be involved.”
“AIC has afforded me a rewarded career and it engages its Members to attain success through its high standards of professionalism.”
“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.”
“Getting to meet people at the AIC Conference allowed me to feel connected to the appraisal world.”
“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.”
“The pursuit of knowledge fires the desire for continued education and profession in the appraisal profession.”
“Working with lenders, brokers, and municipal leaders, among others, I feel like we are working together to build a vibrant community.”
“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.”
“I find the balance between fieldwork and office work to be satisfying and a contributing factor to the growth of my marketplace knowledge.”
“I hope to continue broadening my appraisal experience and focusing on investment properties as a specialty.”
Watch these videos of AIC Designated Members and learn more about this exciting career.
Value of an AIC Designation