Vol 66 | Book 3 \/ Tome 3 | 2022<\/p>\n
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9<\/p>\n
The Official Publication of the
\nAppraisal Institute of Canada \/
\nPublication officielle de l\u2019Institut
\nCanadien des \u00c9valuateurs<\/p>\n
EVALUATING YOUR MOST
\nVALUABLE ASSET: YOU!
\nL\u2019\u00e9valuation de votre
\nactif le plus pr\u00e9cieux<\/p>\n
2022 AIC NATIONAL
\nCONFERENCE RECAP
\nBilan du Congr\u00e8s national
\n2022 de l\u2019ICE<\/p>\n
KEITH LANCASTLE:
\nIT HAS BEEN A PRIVILEGE
\nAND A PLEASURE
\nKeith Lancastle :
\nCe fut pour moi un
\nprivil\u00e8ge et un plaisir <\/p>\n
HOW WE ADAPT TO
\nOur future will be shaped by <\/p>\n
CHANGE
\nLA MANI\u00c8RE DONT NOUS
\nNOUS ADAPTERONS AU<\/p>\n
Notre avenir sera fa\u00e7onn\u00e9 par <\/p>\n
CHANGEMENT<\/p>\n
Immobili\u00e8re au Canada<\/p>\n
Canadian Property<\/p>\n
mailto:canada.valuation@avisonyoung.com<\/p>\n
\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
\ufffd\ufffd\ufffd\ufffd
\n\ufffd\t\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd \ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
For more information, please contact:<\/p>\n
Dave Black
\nAACI, P. App., MRICS
\nExecutive Vice President & National Practice Lead
\nJLL Valuation Advisory
\nDave.Black@am.jll.com
\njll.ca\/value<\/p>\n
\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
mailto:Dave.Black@am.jll.com
\nhttp:\/\/jll.ca\/value<\/p>\n
Be the expert
\nColliers is seeking motivated appraisers to join our
\nValuation and Advisory Services team.<\/p>\n
Colliers recently introduced new market leading report
\nwriting software which upon its introduction increased
\naverage report production speeds by upwards of 30%.
\nColliers AACI designated appraisers in Canada had an
\naverage net compensation in 2020 in excess of $200,000.
\nReach out today to learn how to leverage Colliers brand,
\ntechnology and resources to take your career to the next
\nlevel.<\/p>\n
Contact Lisa McAteer at LLiissaa.MMccAAtteeeerr@@ccoolllliieerrss..ccoomm to
\nlearn more about joining Valuation & Advisory Services
\nat Colliers International.<\/p>\n
colliers.com<\/p>\n
mailto:Lisa.McAteer@colliers.com
\nhttp:\/\/colliers.com<\/p>\n
The articles printed in
\nthis issue represent
\nauthors\u2019 opinions only
\nand are not necessarily
\nendorsed by the
\nAppraisal Institute
\nof Canada. Copyright
\n2022 by the Appraisal
\nInstitute of Canada.
\nAll rights reserved.
\nReproduction in whole
\nor in part without
\nwritten permission
\nis strictly prohibited.
\nSubscription, $40.00 per
\nyear. Printed in Canada. <\/p>\n
Les articles imprim\u00e9s dans
\nce num\u00e9ro ne rep\u00e9sentent
\nque l\u2019opinion de leur auteur
\nrespectif, mais ne sont pas
\nn\u00e9ces\u2013sairement endoss\u00e9s
\npar l\u2019Institut Canadien des
\n\u00c9valuateurs. Tous droits
\nreserv\u00e9s 2022 par l\u2019Institut
\nCanadien des \u00c9valuateurs.
\nLa reproduction totale ou
\npartielle sous quelque
\nform que se soit sans
\nauthorisation \u00e9crite est
\nabsolument interdite.
\nAbonnement $40.00 par
\nann\u00e9e. Imprim\u00e9 au Canada.<\/p>\n
* The Appraisal Institute of
\nCanada reserves the right
\nto reject advertising that it
\ndeems to be inappropriate.<\/p>\n
** The publisher and the
\nAppraisal Institute of Canada
\ncannot be held liable for
\nany material used or claims
\nmade in advertising included
\nin this publication.Indexed
\nin the Canadian Business
\nIndex and available on-line
\nin the Canadian Business &
\nCurrent Affairs database.
\nISSN 0827-2697<\/p>\n
Publication Mails Agreement
\n#40008249<\/p>\n
Return undeliverable
\nCanadian addresses to:
\nAppraisal Institute of Canada
\n403-200 Catherine St.,
\nOttawa, ON K2P 2K9. <\/p>\n
Director \u2013 Communications:
\nPaul H\u00e9bert, Ottawa<\/p>\n
Manager, Communications:
\nHaddy John, Ottawa<\/p>\n
Publication management,
\ndesign and production by:
\nDirection, conception et
\nproduction par :<\/p>\n
3rd Floor \u2013 2020 Portage
\nAvenue, Winnipeg,
\nMB R3J 0K4
\nPhone: 866-985-9780
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\nE-mail: info@kelman.ca
\nWeb: www.kelman.ca<\/p>\n
Managing Editor:
\nCraig Kelman<\/p>\n
Design\/Layout:
\nJackie Magat<\/p>\n
Marketing Manager:
\nKris Fillion<\/p>\n
Advertising Co-ordinator:
\nStefanie Hagidiakow<\/p>\n
7 Executive Corner
\nOur future will be shaped by how we adapt to change<\/p>\n
30 Advocacy
\nAIC appearance before Standing Committee on
\nHuman Resources, Skills and Social Development and
\nthe Status of Persons with Disabilities Committee<\/p>\n
35 Legal Matters
\nLandlord\u2019s Covenant of \u2018Quiet Enjoyment\u2019 v. Landlord\u2019s
\nCovenant to Repair<\/p>\n
41 News
\n\u2022 2022 AIC National Conference Recap
\n\u2022 The AIC welcomes new CEO, Tami Hynes
\n\u2022 Important Dates
\n\u2022 In Memoriam
\n\u2022 2023 AIC calendars<\/p>\n
60 Designations, Candidates, Students<\/p>\n
10 Le coin de l\u2019\u00e9xecutif
\nNotre avenir sera fa\u00e7onn\u00e9 par la mani\u00e8re dont nous
\nnous adapterons au changement<\/p>\n
32 D\u00e9fense des int\u00e9r\u00eats
\nComparution de l\u2019ICE devant le Comit\u00e9 permanent des ressources
\nhumaines, du d\u00e9veloppement des comp\u00e9tences et du d\u00e9veloppement
\nsocial et le Comit\u00e9 de la condition des personnes handicap\u00e9es <\/p>\n
38 Questions juridiques
\nLa convention de jouissance paisible du propri\u00e9taire
\ncontre la convention de r\u00e9paration du propri\u00e9taire <\/p>\n
49 Nouvelles
\n\u2022 Bilan du Congr\u00e8s national 2022 de l\u2019ICEE
\n\u2022 L\u2019ICE accueille sa nouvelle Chef de la direction, Tami Hynes
\n\u2022 Dates importantes
\n\u2022 En m\u00e9moire
\n\u2022 Calendriers 2023 DE L\u2019ICE<\/p>\n
60 D\u00e9signations, stagiaires, \u00e9tudiants<\/p>\n
COLUMNS CHRONIQUES<\/p>\n
Our future will be shaped
\nby how we adapt to change<\/p>\n
Notre avenir sera fa\u00e7onn\u00e9 par
\nla mani\u00e8re dont nous nous
\nadapterons au changement<\/p>\n
7<\/p>\n
Evaluating your most
\nvaluable asset: YOU!
\nL\u2019\u00e9valuation de votre actif
\nle plus pr\u00e9cieux<\/p>\n
Keith Lancastle:
\nIt has been a privilege and a pleasure
\nKeith Lancastle :
\nCe fut pour moi un privil\u00e8ge et un plaisir <\/p>\n
19<\/p>\n
14Be the expert
\nColliers is seeking motivated appraisers to join our
\nValuation and Advisory Services team.<\/p>\n
Colliers recently introduced new market leading report
\nwriting software which upon its introduction increased
\naverage report production speeds by upwards of 30%.
\nColliers AACI designated appraisers in Canada had an
\naverage net compensation in 2020 in excess of $200,000.
\nReach out today to learn how to leverage Colliers brand,
\ntechnology and resources to take your career to the next
\nlevel.<\/p>\n
Contact Lisa McAteer at LLiissaa.MMccAAtteeeerr@@ccoolllliieerrss..ccoomm to
\nlearn more about joining Valuation & Advisory Services
\nat Colliers International.<\/p>\n
colliers.com<\/p>\n
mailto:info@kelman.ca
\nhttp:\/\/www.kelman.ca<\/p>\n
http:\/\/www.cdcinc.ca<\/p>\n
Our future will be shaped by
\nhow we adapt to change<\/p>\n
BY SUZANNE DE JONG, AACI, P.APP <\/p>\n
President, Appraisal Institute of Canada<\/p>\n
EXECUTIVE CORNER<\/p>\n
It is often said that the only constant in life is change. While this expression is well known to all, I would point out that not all change is created
\nequal. Regardless of its nature, speed,
\nor magnitude, change is ALWAYS
\naccompanied by opportunity. Even rapid
\nand profound change that creates a crisis
\npresents opportunity. <\/p>\n
While we all know that we should
\nembrace change and find the opportunities
\nthat lie within it, it is human nature to not
\nonly resist change, but also to prefer that
\nthe change be initiated and driven \u2018by us\u2019
\nrather than \u2018forced upon us.\u2019 We can plan
\nfor anticipated change, but sudden and
\nunexpected change forces us into a purely
\nreactionary posture \u2013 and a much less
\ncomfortable position. <\/p>\n
From an AIC Member\u2019s perspective,
\nit is critical to note that sometimes we
\nhave very little control over many of the
\nchanges we encounter \u2013 we can control
\nonly our response to them. Throughout the
\nongoing COVID pandemic (now 2.5 years
\nas I write this), AIC Members have proven
\nthat they are very adept at responding
\nand adapting to this type of externally
\ndriven change. Collectively as individual
\nMembers and as an organization, we
\nrapidly developed and implemented new <\/p>\n
ways of doing our work. We all found
\nways to adapt, and even thrive, during the
\npandemic. Adaptability, resilience, and
\nflexibility in the face of change are largely
\na function of mindset and perspective. <\/p>\n
This brings us to another type of
\nchange; that which can be anticipated.
\nBeginning in 2020, AIC undertook an
\nexercise to identify the trends and forces
\naffecting its Members and the organization
\nand worked to identify the opportunities
\nthat those forces will present. And most
\nimportantly, upon its conclusion in June
\nof 2022, the Shaping our Future project
\nyielded a comprehensive series of
\nrecommendations aimed at ensuring the
\ncontinued success and effectiveness of
\nAIC Members and the organization that
\nserves them. Those 22 recommendations
\nare grouped into three areas: 1) the
\nprofession, 2) Membership, and 3) the
\norganization. I strongly encourage you
\nto read the full set of recommendations
\nand all the supporting documentation at
\nshapingourfuture.ca. <\/p>\n
As AIC develops its new Strategic
\nPlan over the coming months, we will
\nbe setting clear objectives and metrics
\nthat address not only the Task Force
\nrecommendations, but also the
\nongoing work of the organization.<\/p>\n
Return to CONTENTS 7Volume 66 | Book 3 \/ Tome 3 | 2022<\/p>\n
http:\/\/shapingourfuture.ca<\/p>\n
EXECUTIVE CORNER<\/p>\n
Regardless of its nature, speed, or magnitude, change is ALWAYS
\naccompanied by opportunity.<\/p>\n
Succession<\/p>\n
2021 age demographics in Canada
\nindicate that almost 40% of our population
\nis over the age of 50, while those aged
\n25-34 represent 36% of the population.
\nAIC estimates that its Members in the
\ncohort of 50 years and over is even larger
\nthan this \u2013 perhaps approaching 60%.
\nThis means that we may be facing an
\nexodus of Members, experience, and
\nknowledge over the coming decade or so.<\/p>\n
To mitigate the effects of this
\n\u2018demographic bubble,\u2019 AIC must
\ncontinue to enhance its focus not
\nonly on recruitment, but also on the
\nengagement and input of Candidates and
\nnewly-designated Members. This will be
\naccomplished in two ways: 1) through
\nincreased recruiting initiatives, including
\nadvertising and promotion, outreach
\nand partnership with post-secondary
\ninstitutions, strengthening the Candidate
\ndevelopment process, etc., and 2) by
\nincreasing the involvement, engagement
\nand input of both Candidates and newly-
\ndesignated Members. <\/p>\n
These individuals quite literally are the
\nfuture. We need their active participation
\nat all levels of the organization, from
\ncommittee work to governance, to ensure
\nthat our profession and organization
\ncontinue to meet the needs of an
\nevolving marketplace, and ensure that
\nour organization remains relevant and
\nresponsive. Diversity of perspectives and
\ndiversity in service offerings is key to our
\ncollective success. Equally important is
\ndiversity in race, national or ethnic origin,
\nreligion, age, sex, sexual orientation,
\nmarital status, family status, disability, etc.
\nSee more on Equity, Diversity, and
\nInclusion below. <\/p>\n
Technology<\/p>\n
Technology is routinely referred to as
\nbeing disruptive. Disruption implies
\ndiscomfort, and while new technology
\nmay well cause us discomfort, that same
\ntechnology, be it artificial intelligence (AI),
\nAVMs, Block Chain, or others, presents
\nhuge opportunities for everyone, including
\nvaluation professionals and the Institute. <\/p>\n
Up until now, a great deal of your time
\nand effort in providing opinions of value
\nhas consisted of the collection and analysis
\nof data. The true value proposition of
\nthe appraiser lies in the ability to apply
\njudgement to that data to determine its
\nvalidity and relevance. <\/p>\n
The opportunity becomes clear:
\nappraisers can leverage AI and other
\ntechnologies to complete some of the
\nmore routine aspects of their work so they
\ncan focus on applying their specialized
\nexpertise and judgement. The disruption
\nof technology in valuation provides us
\nwith an opportunity to do more of what
\nwe specialize in and less of what almost
\nanyone can do, thereby increasing our
\nvalue proposition, efficiency, and output. <\/p>\n
Organizational efficiency<\/p>\n
In an organizational context, however,
\nefficiency and effectiveness are hard to
\ndefine. The effectiveness of an organization
\ndepends on its mission and goals, internal
\nefficiency, strategic positioning, and many
\nmore factors.<\/p>\n
In the case of AIC, we have an extremely
\ncomplex organizational and governance
\nstructure that includes: a national body,
\nprovincial affiliates (both with their own
\ngovernance, committees, and dues
\nstructures), and chapters. Furthermore,
\nsome key responsibilities and tasks are <\/p>\n
divided among those organizations
\n(i.e., Candidate registration at the provincial
\nlevel, and all remaining Candidate
\ninteractions at the national level). <\/p>\n
While AIC is responsible for public
\nprotection in its role as the regulator of
\nour profession, AIC is also a Membership
\norganization. Our Members pay
\nsubstantial annual dues at multiple levels
\n(national, provincial, chapter) and should
\nexpect maximum value for their money.
\nMaximizing Membership benefit return for
\ntheir dues requires that not only each one
\nof these organizations function effectively
\non an individual basis, but also, and
\nperhaps most importantly, that all those
\norganizations work together as efficiently
\nand effectively as possible. <\/p>\n
One of the Board\u2019s top priorities
\nin the coming year will be to conduct
\nan in-depth assessment of all
\ncomponents of the entire organization\u2019s
\nefficiency, effectiveness, and division
\nof responsibilities, and implement any
\nchanges required for improvement
\nand optimization.<\/p>\n
Equity, Diversity, and Inclusion (EDI)<\/p>\n
The organization is at a pivotal moment
\nin its EDI journey. We now have a wealth
\nof research and framing around EDI
\nissues within the Institute, thanks in
\nlarge part to our President\u2019s Council on
\nEquity, Diversity and Inclusion and the
\nwork it has undertaken over this past
\nyear. While we are embarking on writing
\na new Strategic Plan to guide us over the
\ncoming years, who we want to be and
\nthe future we want to live in will, in large
\npart, be defined by this document. It goes
\nwithout saying that EDI needs to be at the
\nforefront of this conversation.<\/p>\n
Canadian Property Valuation | \u00c9valuation Immobili\u00e8re au Canada 8 Return to CONTENTS<\/p>\n
We, both as an organization, and as individual Members, have the flexibility,
\ncreativity, and resiliency to respond to rapid and unanticipated change.<\/p>\n
EXECUTIVE CORNER<\/p>\n
While we know our Membership is
\nincreasingly diverse, we know that this
\ndiversity is not always fully reflected within
\nour committees, Board and other decision-
\nmaking bodies. This is a disadvantage for
\nany organization as it can keep some of the
\n\u2018best and brightest\u2019 from fully engaging in
\nthe work. Very few people would argue with
\nthe common sense and human decency
\naspects of the foregoing. Paying attention
\nto and actively working to achieve EDI is
\n\u2018the right thing to do\u2019 for countless reasons,
\nincluding many business case components
\nto working towards EDI. <\/p>\n
Valuation professionals should also
\nconsider the fact that they serve an
\nincreasingly diverse client base. Client
\nperception of a service provider is greatly
\nincreased if that client can recognize some
\nof their own values and attributes in the
\nprovider. We need to mirror the makeup of
\nthe population we serve. <\/p>\n
It is not only the right thing to do, but it
\nalso makes sound business sense.<\/p>\n
Diversification of service offerings<\/p>\n
Public perception and awareness of
\nAIC member services are still largely
\nlimited to point-in-time appraisal, and
\nwhile this will constitute a substantial of
\nour work for the foreseeable future, the
\nuse of technology in our point-in-time
\npractices will also free up time and create
\nopportunities for Members to undertake
\nother types of work. From consulting, to
\nReserve Fund Studies, machinery and
\nequipment, and the multitude of other
\ntypes of work that your body of knowledge
\nand Canadian Uniform Standards of
\nProfessional Appraisal Practice (CUSPAP)
\nallow you to do, the question is not \u201cshould
\nI take on other types of work?\u201d but rather
\n\u201cwhich other types of work will I take on?\u201d <\/p>\n
For many years now, AIC has worked
\nto promote our Members\u2019 full suite <\/p>\n
of offerings through marketing and
\nadvertising activities and the delivery
\nof CPD courses and webinars that help
\nMembers undertake non-traditional
\nassignments. The new Strategic Plan will
\nbuild upon those efforts so that Members
\ncan increase diversification in their work.<\/p>\n
Our collective response and adaptation
\nto the COVID pandemic have proven
\nthat we, both as an organization, and as
\nindividual Members, have the flexibility,
\ncreativity, and resiliency to respond to
\nrapid and unanticipated change. The new
\nStrategic Plan will provide the organization
\nwith a roadmap that will take us all to a <\/p>\n
point where we are even better prepared to
\nrespond to, and even anticipate, changes
\nand ensure that we maintain the world-
\nclass reputation of our profession and
\norganization as we continue to deliver the
\nhigh level of performance that our clients
\nand all stakeholders have come to expect.
\nNow that we are equipped with extensive
\ninput from the Membership and other
\nresearch from the Shaping our Future Task
\nForce, I look forward to working with the
\nBoard and staff to develop our new Strategic
\nPlan. Stay tuned for updates as our work
\non that front progresses throughout the fall
\nand into the new year. <\/p>\n
Volume 66 | Book 3 \/ Tome 3 | 2022 9Return to CONTENTS<\/p>\n