Vol 69 | Book 2 \/ Tome 2 | 2025<\/p>\n
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The Official Publication of the
\nAppraisal Institute of Canada \/
\nPublication officielle de l\u2019Institut
\ncanadien des \u00e9valuateurs<\/p>\n
EMERGING TRENDS IN
\nREAL ESTATE VALUATION
\nTendances \u00e9mergentes dans
\nl\u00b4\u00e9valuation immobili\u00e8re<\/p>\n
MASS IMPACT: INFLUENCES,
\nTRANSITIONS, AND
\nCANDIDATE OPPORTUNITIES
\nIN MASS APPRAISAL
\nImpact de masse : influences,
\ntransitions et opportunit\u00e9s pour les
\nstagiaires en \u00e9valuation de masse<\/p>\n
VALUE RECONCILIATIONS: THE
\nBEATING HEART OF APPRAISAL
\nRapprochements de valeurs :
\nle c\u0153ur de l\u2019\u00e9valuation<\/p>\n
EXTRAORDINARY OR NOT?
\nUNRAVELLING THE USE
\nOF SPECIAL EXCLUSIONS
\nAND LIMITATIONS IN
\nAPPRAISAL REPORTS
\nExtraordinaires ou non ?
\nD\u00e9mystifier l\u2019utilisation des
\nexclusions et limitations sp\u00e9ciales
\ndans les rapports d\u2019\u00e9valuation<\/p>\n
NAVIGATING THE AACI
\nAPPLIED EXPERIENCE EXAM:
\nA FIELD-TESTED APPROACH
\nNaviguer \u00e0 travers l\u2019examen
\nd\u2019exp\u00e9rience pratique pour AACI :
\nune approche \u00e9prouv\u00e9e sur
\nle terrain<\/p>\n
Quantifier l\u2019impact
\ndes risques climatiques et
\ndes facteurs de durabilit\u00e9 <\/p>\n
Quantifying
\nthe impact of <\/p>\n
climate risks and
\nsustainability <\/p>\n
factors <\/p>\n
Recruiting
\ntop talent<\/p>\n
Contact us to learn
\nmore about
\njoining the team.<\/p>\n
Matthew McWatters P. App., AACI
\nPrincipal, Managing Director &
\nCanadian Leader, Valuation,
\nAdvisory & Property Tax Services
\nmatthew.mcwatters@avisonyoung.comavisonyoung.ca\/valuations<\/p>\n
The Avison Young Valuation and
\nAdvisory Services Team is growing
\nand we are looking for individuals,
\nteams and companies across Canada
\nseeking an opportunity to grow with us.<\/p>\n
Competitive
\ncompensation
\npackage<\/p>\n
Leverage
\ntechnology to
\nservice clients<\/p>\n
High performance,
\npeople-first
\nculture<\/p>\n
mailto:matthew.mcwatters@avisonyoung.com
\nhttps:\/\/avisonyoung.ca\/valuations<\/p>\n
Recruiting
\ntop talent<\/p>\n
Contact us to learn
\nmore about
\njoining the team.<\/p>\n
Matthew McWatters P. App., AACI
\nPrincipal, Managing Director &
\nCanadian Leader, Valuation,
\nAdvisory & Property Tax Services
\nmatthew.mcwatters@avisonyoung.comavisonyoung.ca\/valuations<\/p>\n
The Avison Young Valuation and
\nAdvisory Services Team is growing
\nand we are looking for individuals,
\nteams and companies across Canada
\nseeking an opportunity to grow with us.<\/p>\n
Competitive
\ncompensation
\npackage<\/p>\n
Leverage
\ntechnology to
\nservice clients<\/p>\n
High performance,
\npeople-first
\nculture<\/p>\n
www.cdcinc.ca<\/p>\n
NATIONAL COVERAGE LOCAL
\nEXPERTISE EXCELLENT SERVICE
\n1 (866) 479-7922<\/p>\n
WE ARE CURRENTLY HIRING
\nDESIGNATED
\nPROFESSIONALS<\/p>\n
Technology-Driven Valuations<\/p>\n
Diverse Expertise, Nationwide Reach<\/p>\n
Accurate, Reliable, Professional<\/p>\n
Elevate Your
\nProperty’s Potential
\nwith CDC Inc. <\/p>\n
ORDER AN APPRAISAL AT CDCINC.CA<\/p>\n
Growing to Serve You Better<\/p>\n
http:\/\/www.cdcinc.ca
\nhttp:\/\/www.cdcinc.ca<\/p>\n
Experts choose experts<\/p>\n
collierscanada.com <\/p>\n
Interested in working in an entrepreneurial environment with the opportunity to grow your appraisal
\npractice supported by the Colliers brand? Reach out today to take your career to the next level. <\/p>\n
Contact Jenna.Davidson@colliers.com to learn about joining the Colliers Valuation & Advisory Services team.<\/p>\n
Colliers is seeking
\nmotivated appraisers to
\njoin our Valuation and
\nAdvisory Services team.<\/p>\n
Flexibility in where
\nand when you work;
\ntake advantage of our
\nmonth-abroad option <\/p>\n
Enterprising
\nculture with <\/p>\n
growth mindset <\/p>\n
Global platform
\nand leading <\/p>\n
expertise <\/p>\n
Why Colliers <\/p>\n
mailto:Jenna.Davidson@colliers.com
\nhttps:\/\/collierscanada.com<\/p>\n
The articles printed in this issue
\nrepresent authors\u2019 opinions
\nonly and are not necessarily
\nendorsed by the Appraisal
\nInstitute of Canada. Copyright
\n2025 by the Appraisal
\nInstitute of Canada. All\u00a0rights
\nreserved. Reproduction in
\nwhole or in part without
\nwritten permission
\nis strictly prohibited.
\nSubscription,\u202f$40.00 per year.
\nPrinted\u00a0in Canada. <\/p>\n
Les articles imprim\u00e9s dans
\nce num\u00e9ro ne rep\u00e9sentent
\nque l\u2019opinion de leur auteur <\/p>\n
respectif, mais ne sont pas
\nn\u00e9cessairement endoss\u00e9s
\npar l\u2019Institut canadien des
\n\u00e9valuateurs. Tous droits
\nreserv\u00e9s 2025 par l\u2019Institut
\ncanadien des \u00e9valuateurs. La
\nreproduction totale ou partielle
\nsous quelque forme que se
\nsoit sans authorisation \u00e9crite
\nest absolument interdite.
\nAbonnement\u202f40,00 $ par ann\u00e9e.
\nImprim\u00e9 au Canada.<\/p>\n
* The Appraisal Institute of
\nCanada reserves the right to
\nreject advertising that it deems
\nto\u00a0be\u00a0inappropriate.<\/p>\n
** The publisher and the
\nAppraisal Institute of Canada
\ncannot be held liable for any
\nmaterial used or claims made
\nin advertising included in this
\npublication.Indexed in the
\nCanadian Business. Index
\nand available on-line in the
\nCanadian Business & Current
\nAffairs\u00a0database.
\nISSN 0827-2697<\/p>\n
Publication Mails Agreement
\n#40008249
\nReturn undeliverable
\nCanadian items to:
\nAppraisal Institute of Canada
\n403-200 Catherine St.,
\nOttawa, ON K2P 2K9. <\/p>\n
Director, Public Affairs
\nand Communications:
\nSophie Lamontagne<\/p>\n
Manager, Public Affairs:
\nBrandyn Hayes<\/p>\n
Publication management,
\ndesign and production by:
\nDirection, conception et
\nproduction par\u00a0:<\/p>\n
3rd Floor \u2013 2020 Portage
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\nWeb: www.kelman.ca<\/p>\n
Managing Editor:
\nCraig Kelman<\/p>\n
Design\/Layout:
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Marketing Manager:
\nKris Fillion<\/p>\n
Advertising Co-ordinator:
\nSabrina Simmonds<\/p>\n
COLUMNS CHRONIQUES<\/p>\n
ARTICLES<\/p>\n
6\t From the desk of the CEO
\nEnsuring that Members are recognized and rewarded<\/p>\n
10\t Executive Corner
\nPresident Dowle focuses on helping Members meet today\u2019s
\nchallenges<\/p>\n
68\t Legal Matters
\nCase Comment: Cowichan Tribes v. Canada (Attorney General)<\/p>\n
76\t Education
\nWhat\u2019s new at UBC? First Principles and First Nations: Reframing
\nCanada\u2019s Real Estate through an Indigenous Lens<\/p>\n
81\t News
\n\u2022\t2025 AIC National Conference recap
\n\u2022\tParliament Hill Day 2025: Amplifying the Voices of Appraisers in <\/p>\n
Ottawa
\n\u2022\t2026 calendar features amazing AIC photo contest images
\n\u2022\t Important Dates
\n\u2022\t In Memoriam<\/p>\n
96\t Designations, Candidates, students<\/p>\n
8\t Du bureau de la pr\u00e9sidente-directrice g\u00e9n\u00e9rale
\nVeiller \u00e0 ce que les membres soient reconnus et r\u00e9compens\u00e9s <\/p>\n
14\t Le coin de l\u2019\u00e9xecutif
\nLa pr\u00e9sident Dowle axe ses efforts \u00e0 aider les membres \u00e0
\nrelever les d\u00e9fis actuels<\/p>\n
72\t Questions juridiques
\nCommentaire sur l\u2019affaire Cowichan Tribes c. Canada (Procureur g\u00e9n\u00e9ral)<\/p>\n
78\t Formation
\nQuoi de neuf \u00e0 l\u2019UBC ? Les premiers principes et les Premi\u00e8res Nations :
\nrepenser l\u2019immobilier canadien dans une optique autochtone <\/p>\n
81\t Nouvelles
\n\u2022\tR\u00e9sum\u00e9 du Congr\u00e8s national de l\u2019ICE 2025
\n\u2022\tJourn\u00e9e sur la Colline du Parlement 2025 : <\/p>\n
amplifier la voix des \u00e9valuateurs \u00e0 Ottawa
\n\u2022\tLe calendrier 2026 pr\u00e9sente les images splendides du concours <\/p>\n
de photo de l\u2019ICE
\n\u2022\tDates importantes
\n\u2022\tEn m\u00e9moire<\/p>\n
96\t D\u00e9signations, stagiaires, \u00e9tudiants<\/p>\n
\t19\t How to quantify the impact of climate risks
\nand sustainability factors in commercial
\nreal estate valuations<\/p>\n
\t23\t Comment quantifier l\u2019impact des risques
\nclimatiques et des facteurs de durabilit\u00e9 dans les
\n\u00e9valuations immobili\u00e8res commerciales<\/p>\n
\t28\t Emerging trends in real estate valuation
\n\t32\t Tendances \u00e9mergentes dans l\u00b4\u00e9valuation immobili\u00e8re<\/p>\n
\t36\t Mass impact: influences, transitions,
\nand Candidate opportunities in mass appraisal<\/p>\n
\t38\t Impact de masse : influences, transitions
\net opportunit\u00e9s pour les stagiaires en \u00e9valuation
\nde masse<\/p>\n
\t40\t Value reconciliations: the beating heart of appraisal
\n\t45\t Rapprochements de valeurs : le c\u0153ur de l\u2019\u00e9valuation<\/p>\n
\t50\t Extraordinary or not? Unravelling the use of special
\nexclusions and limitations in appraisal reports<\/p>\n
\t57\t Extraordinaires ou non ? D\u00e9mystifier l\u2019utilisation
\ndes exclusions et limitations sp\u00e9ciales dans les
\nrapports d\u2019\u00e9valuation<\/p>\n
\t64\t Navigating the AACI Applied Experience Exam:
\na field-tested approach<\/p>\n
\t66\t Naviguer \u00e0 travers l\u2019examen d\u2019exp\u00e9rience pratique
\npour AACI : une approche \u00e9prouv\u00e9e sur le terrain<\/p>\n
19<\/p>\n
36<\/p>\n
28<\/p>\n
64<\/p>\n
mailto:info@kelman.ca
\nhttp:\/\/www.kelman.ca<\/p>\n
The need for professional,
\nindependent, and expert appraisers
\nhas never been greater.<\/p>\n
Ensuring that
\nMembers are
\nrecognized and
\nrewarded
\nDONNA DEWAR, MBA, PMP
\nAIC CEO<\/p>\n
FROM THE DESK OF THE CEO<\/p>\n
C anada\u2019s housing system is facing unprecedented
\npressures. Household debt now exceeds $3 trillion,
\nwith mortgages accounting for nearly two-thirds.1
\nAt the same time, housing affordability challenges <\/p>\n
and rising economic pressures are straining household budgets,
\nwith nearly 60% of borrowers set to face higher mortgage
\npayments by 2026.2<\/p>\n
In this environment, the need for professional, independent,
\nand expert appraisers has never been greater. The Appraisal
\nInstitute of Canada (AIC)’s advocacy efforts are focused squarely
\non ensuring that appraisers remain central to Canada\u2019s housing
\nsystem \u2013 protecting both consumers and the profession. Our task
\nnow is to ensure governments, regulators, and the public continue
\nto recognize and rely on the expertise of our Members.<\/p>\n
AIC\u2019s annual Parliament Hill Day remains one of the most
\neffective ways we carry this message directly to decision-makers
\nand deliver value for Members. Building on last year\u2019s momentum,
\nAIC delegates advanced two key recommendations this year that
\nreinforce how Professional Appraisers underpin confidence in
\nCanada\u2019s real estate market and financial systems.<\/p>\n
First, we called for the creation of a permanent Stakeholder
\nAdvisory Committee within the Office of the Superintendent of
\nFinancial Institutions (OSFI). While OSFI regulates more than
\n400 federally regulated institutions and 1,200 pension plans, it
\ncurrently lacks a structured mechanism for external stakeholder input. <\/p>\n
Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada 6 Return to CONTENTS<\/p>\n
By meeting with decision-makers, engaging with stakeholders and
\nregulatory bodies, and sharing the unique value of independent,
\nprofessional appraisal, we are ensuring our profession remains visible,
\nrespected, and indispensable.<\/p>\n
The AIC will continue to build on our momentum, protect the public, and
\nensure that Members are recognized and rewarded for the vital role they
\nplay in Canada\u2019s housing system.<\/p>\n
FROM THE DESK OF THE CEO<\/p>\n
Establishing such a committee would align Canada with
\ninternational best practices, providing a formal venue to address
\nsystemic risks such as mortgage stress testing, Automated
\nValuation Model (AVM) oversight, mortgage fraud, and other
\nemerging financial vulnerabilities.<\/p>\n
Public opinion strongly supports this recommendation. A recent
\nAIC-commissioned poll of 2,100 Canadians found that four in five
\nsupport the establishment of such a committee, and 74% want
\nregulators to oversee AVMs.<\/p>\n
Second, we called for targeted amendments to the Bank Act
\nas part of its overdue review. These changes would formally
\nrecognize the role of Professional Appraisers in mortgage lending
\nand embed oversight of AVMs, ensuring they are independently
\ntested, benchmarked, and held accountable. Canadians agree:
\n90% believe appraisers deliver the most reliable valuations, while
\nonly 14% trust AVMs more than appraisers.<\/p>\n
These advocacy priorities are not abstract. They are practical,
\nevidence-based, and grounded in public support. Every appraisal
\nconducted by a Professional Appraiser safeguards consumers,
\nstrengthens lender decision-making, and reinforces stability in
\nCanada\u2019s housing system. By advocating for these reforms, AIC
\nis ensuring that professional judgment cannot be replaced by
\nunchecked automation or sidelined by outdated legislation.<\/p>\n
AIC\u2019s advocacy priorities and planning will keep Member voices
\nfront and centre. This plan will be practical, forward-looking, and
\nresponsive to what you have told us matters most: strong advocacy
\nthat keeps Professional Appraisers at the centre of housing policy
\nand financial regulation, fair compensation for the expertise and
\nprofessionalism you bring to every assignment, and professional
\ndevelopment that equips appraisers with the skills and tools
\nneeded to thrive in a rapidly changing environment.<\/p>\n
With housing policy and financial regulation under intense
\nscrutiny, governments are seeking credible partners who can <\/p>\n
provide solutions. Professional Appraisers are exactly that.
\nBy leaning into this moment, AIC can secure a future where we are
\nnot just participants, but leaders in shaping Canada\u2019s real estate
\nand financial ecosystem.<\/p>\n
Canadians overwhelmingly trust Professional Appraisers,
\nand that trust remains one of our greatest strengths. Together,
\nwe must amplify it. By meeting with decision-makers, engaging
\nwith stakeholders and regulatory bodies, and sharing the unique
\nvalue of independent, professional appraisal, we are ensuring our
\nprofession remains visible, respected, and indispensable.<\/p>\n
Your voice matters. By sharing your expertise on professional
\nplatforms, engaging with local industry groups, educating clients
\nabout the value of independent appraisals, or simply speaking up
\nin everyday conversations about housing and financial stability,
\nyou help raise the profile of Professional Appraisers. Member-
\nled advocacy \u2013 rooted in credibility, professionalism, and lived
\nexperience \u2013 multiplies the impact of our collective efforts and
\nensures that decision-makers hear directly from those at the centre
\nof Canada\u2019s real estate market. <\/p>\n
There are challenges before us \u2013 housing affordability,
\nregulatory reform, and technological disruption among them.
\nBut they are also opportunities to demonstrate that professional
\njudgment, grounded in independence and integrity, is more
\nessential than ever.<\/p>\n
The AIC will continue to build on our momentum, protect the
\npublic, and ensure that Members are recognized and rewarded for
\nthe vital role they play in Canada\u2019s housing system. <\/p>\n
End Notes
\n1\t https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250612\/<\/p>\n
dq250612a-eng.htm
\n2\t https:\/\/www.bankofcanada.ca\/2025\/05\/financial-stability-<\/p>\n
report-2025\/ <\/p>\n
Volume 69 | Book 2 \/ Tome 2 | 2025 7Return to CONTENTS<\/p>\n
https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250612\/dq250612a-eng.htm
\nhttps:\/\/www.bankofcanada.ca\/2025\/05\/financial-stability-report-2025\/<\/p>\n
Veiller \u00e0 ce que les
\nmembres soient
\nreconnus et
\nr\u00e9compens\u00e9s
\nDONNA DEWAR, MBA, PMP
\nLA PR\u00c9SIDENTE-DIRECTRICE G\u00c9N\u00c9RALE<\/p>\n
DU BUREAU DE LA PR\u00c9SIDENTE-DIRECTRICE G\u00c9N\u00c9RALE<\/p>\n
Le besoin d\u2019\u00e9valuateurs professionnels,
\nind\u00e9pendants et experts n\u2019a jamais \u00e9t\u00e9
\naussi grand.<\/p>\n
L e syst\u00e8me immobilier canadien est confront\u00e9 \u00e0 des pressions
\nsans pr\u00e9c\u00e9dent. La dette des m\u00e9nages d\u00e9passe d\u00e9sormais
\nles 3 000 milliards de dollars, dont pr\u00e8s des deux tiers sont
\ndes pr\u00eats hypoth\u00e9caires.1 Du coup, les difficult\u00e9s d\u2019acc\u00e8s \u00e0 la <\/p>\n
propri\u00e9t\u00e9 et les pressions \u00e9conomiques croissantes p\u00e8sent sur le budget
\ndes m\u00e9nages, pr\u00e8s de 60 % des emprunteurs devant faire face \u00e0 une
\naugmentation de leurs mensualit\u00e9s hypoth\u00e9caires d\u2019ici 2026.2<\/p>\n
Dans ce contexte, le besoin d\u2019\u00e9valuateurs professionnels, ind\u00e9pendants
\net experts n\u2019a jamais \u00e9t\u00e9 aussi grand. Les efforts de d\u00e9fense des int\u00e9r\u00eats de
\nl\u2019Institut canadien des \u00e9valuateurs (ICE) visent clairement \u00e0 garantir que les
\n\u00e9valuateurs restent au c\u0153ur du syst\u00e8me immobilier canadien, prot\u00e9geant \u00e0 la
\nfois les consommateurs et la profession. Notre t\u00e2che consiste d\u00e9sormais \u00e0 faire
\nen sorte que les gouvernements, les organismes de r\u00e9glementation et le public
\ncontinuent de reconna\u00eetre et de s\u2019appuyer sur l\u2019expertise de nos membres. <\/p>\n
La journ\u00e9e annuelle de l\u2019ICE sur la Colline reste l\u2019un des moyens les plus
\nefficaces de transmettre ce message directement aux d\u00e9cideurs et d\u2019apporter
\nde la valeur ajout\u00e9e \u00e0 nos membres. Poursuivant l\u2019\u00e9lan donn\u00e9 l\u2019an dernier, les
\nd\u00e9l\u00e9gu\u00e9s de l\u2019ICE ont pr\u00e9sent\u00e9 cette ann\u00e9e deux recommandations cl\u00e9s qui
\nrenforcent le r\u00f4le des \u00e9valuateurs professionnels dans la confiance accord\u00e9e
\nau march\u00e9 immobilier et aux syst\u00e8mes financiers canadiens. <\/p>\n
Tout d\u2019abord, nous avons demand\u00e9 la cr\u00e9ation d\u2019un comit\u00e9 consultatif
\npermanent des parties prenantes au sein du Bureau du surintendant des
\ninstitutions financi\u00e8res (BSIF). Bien que le BSIF r\u00e9glemente plus de
\n400 institutions sous r\u00e9glementation f\u00e9d\u00e9rale et 1 200 r\u00e9gimes de retraite,
\nil ne dispose actuellement d\u2019aucun m\u00e9canisme structur\u00e9 pour recueillir
\nles commentaires des parties prenantes externes. La cr\u00e9ation d\u2019un tel
\ncomit\u00e9 permettrait au Canada de s\u2019aligner sur les meilleures pratiques
\ninternationales et offrirait un cadre officiel pour traiter les risques
\nsyst\u00e9miques tels que les tests de r\u00e9sistance hypoth\u00e9caire, la surveillance <\/p>\n
Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada 8 Return to CONTENTS<\/p>\n
DU BUREAU DE LA PR\u00c9SIDENTE-DIRECTRICE G\u00c9N\u00c9RALE<\/p>\n
En rencontrant les d\u00e9cideurs, en dialoguant avec les parties prenantes et
\nles organismes de r\u00e9glementation, et en partageant la valeur unique de
\nl\u2019\u00e9valuation ind\u00e9pendante et professionnelle, nous veillons \u00e0 ce que notre
\nprofession demeure visible, respect\u00e9e et indispensable.<\/p>\n
L\u2019ICE continuera \u00e0 tirer parti de notre \u00e9lan, \u00e0 prot\u00e9ger le public et \u00e0 veiller \u00e0
\nce que les membres soient reconnus et r\u00e9compens\u00e9s pour le r\u00f4le essentiel
\nqu\u2019ils jouent dans le syst\u00e8me immobilier canadien.<\/p>\n
des mod\u00e8les d\u2019\u00e9valuation automatis\u00e9s (MEA), la fraude hypoth\u00e9caire
\net d\u2019autres vuln\u00e9rabilit\u00e9s financi\u00e8res \u00e9mergentes. <\/p>\n
L\u2019opinion publique soutient fortement cette recommandation. Un
\nr\u00e9cent sondage command\u00e9 par l\u2019ICE aupr\u00e8s de 2 100 Canadiens a r\u00e9v\u00e9l\u00e9
\nque quatre personnes sur cinq sont favorables \u00e0 la cr\u00e9ation d\u2019un tel
\ncomit\u00e9 et que 74 % souhaitent que les r\u00e9gulateurs supervisent les MEA.<\/p>\n
Deuxi\u00e8mement, nous avons demand\u00e9 des modifications cibl\u00e9es
\n\u00e0 la Loi sur les banques dans le cadre de sa r\u00e9vision attendue depuis
\nlongtemps. Ces modifications reconna\u00eetraient officiellement le
\nr\u00f4le des \u00e9valuateurs professionnels dans le domaine des pr\u00eats
\nhypoth\u00e9caires et int\u00e9greraient la surveillance des MEA, garantissant
\nainsi qu\u2019ils soient test\u00e9s de mani\u00e8re ind\u00e9pendante, compar\u00e9s \u00e0 des
\nr\u00e9f\u00e9rences et tenus responsables. Les Canadiens sont d\u2019accord :
\n90 % d\u2019entre eux estiment que les \u00e9valuateurs fournissent les
\n\u00e9valuations les plus fiables, tandis que seulement 14 % font
\ndavantage confiance aux MEA qu\u2019aux \u00e9valuateurs. <\/p>\n
Ces priorit\u00e9s en mati\u00e8re de d\u00e9fense des int\u00e9r\u00eats ne sont pas
\nabstraites. Elles sont pratiques, fond\u00e9es sur des preuves et soutenues
\npar l\u2019opinion publique. Chaque \u00e9valuation effectu\u00e9e par un \u00e9valuateur
\nprofessionnel prot\u00e8ge les consommateurs, renforce la prise de
\nd\u00e9cision des pr\u00eateurs et consolide la stabilit\u00e9 du syst\u00e8me immobilier
\ncanadien. En plaidant en faveur de ces r\u00e9formes, l\u2019ICE veille \u00e0 ce
\nque le jugement professionnel ne puisse \u00eatre remplac\u00e9 par une
\nautomatisation incontr\u00f4l\u00e9e ou mis de c\u00f4t\u00e9 par une l\u00e9gislation obsol\u00e8te. <\/p>\n
Les priorit\u00e9s et la planification de l\u2019ICE en mati\u00e8re de d\u00e9fense des
\nint\u00e9r\u00eats permettront de mettre en \u00e9vidence les voix des membres.
\nCe plan sera pratique, tourn\u00e9 vers l\u2019avenir et r\u00e9pondra \u00e0 ce qui,
\nselon vous, est le plus important : une d\u00e9fense forte des int\u00e9r\u00eats qui
\nmaintient les \u00e9valuateurs professionnels au centre de la politique
\ndu logement et de la r\u00e9glementation financi\u00e8re, une r\u00e9mun\u00e9ration
\n\u00e9quitable pour l\u2019expertise et le professionnalisme que vous apportez
\n\u00e0 chaque contrat de service, et un d\u00e9veloppement professionnel qui
\ndote les \u00e9valuateurs des comp\u00e9tences et des outils n\u00e9cessaires pour
\nprosp\u00e9rer dans un environnement en rapide \u00e9volution. <\/p>\n
La politique du logement et la r\u00e9glementation financi\u00e8re faisant
\nl\u2019objet d\u2019une surveillance \u00e9troite, les gouvernements recherchent des
\npartenaires cr\u00e9dibles capables d\u2019apporter des solutions. Les \u00e9valuateurs <\/p>\n
professionnels sont exactement cela. En tirant parti de cette situation,
\nl\u2019ICE peut assurer un avenir o\u00f9 nous ne serons pas seulement des
\nparticipants, mais des leaders dans l\u2019\u00e9laboration de l\u2019\u00e9cosyst\u00e8me
\nimmobilier et financier du Canada. <\/p>\n
Les Canadiens font largement confiance aux \u00e9valuateurs
\nprofessionnels, et cette confiance reste l\u2019une de nos plus grandes
\nforces. Ensemble, nous devons la cultiver. En rencontrant les
\nd\u00e9cideurs, en dialoguant avec les parties prenantes et les organismes
\nde r\u00e9glementation, et en partageant la valeur unique de l\u2019\u00e9valuation
\nind\u00e9pendante et professionnelle, nous veillons \u00e0 ce que notre
\nprofession reste visible, respect\u00e9e et indispensable. <\/p>\n
Votre voix compte. En partageant votre expertise sur des
\nplateformes professionnelles, en dialoguant avec des groupes
\nindustriels locaux, en sensibilisant vos clients \u00e0 la valeur des
\n\u00e9valuations ind\u00e9pendantes, ou simplement en vous exprimant dans vos
\nconversations quotidiennes sur le logement et la stabilit\u00e9 financi\u00e8re,
\nvous contribuez \u00e0 rehausser le profil des \u00e9valuateurs professionnels.
\nLa d\u00e9fense des int\u00e9r\u00eats men\u00e9e par les membres \u2013 fond\u00e9e sur la
\ncr\u00e9dibilit\u00e9, le professionnalisme et l\u2019exp\u00e9rience v\u00e9cue \u2013 multiplie
\nl\u2019impact de nos efforts collectifs et garantit que les d\u00e9cideurs entendent
\ndirectement ceux qui sont au c\u0153ur du march\u00e9 immobilier canadien. <\/p>\n
Des d\u00e9fis nous attendent, notamment l\u2019accessibilit\u00e9 au logement,
\nla r\u00e9forme r\u00e9glementaire et les bouleversements technologiques.
\nMais ils constituent \u00e9galement des occasions de d\u00e9montrer que le
\njugement professionnel, fond\u00e9 sur l\u2019ind\u00e9pendance et l\u2019int\u00e9grit\u00e9, est
\nplus essentiel que jamais. <\/p>\n
L\u2019ICE continuera \u00e0 tirer parti de notre \u00e9lan, \u00e0 prot\u00e9ger le public et \u00e0
\nveiller \u00e0 ce que les membres soient reconnus et r\u00e9compens\u00e9s pour le
\nr\u00f4le essentiel qu\u2019ils jouent dans le syst\u00e8me immobilier canadien. <\/p>\n
Notes de fin
\n1\t https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250612\/<\/p>\n
dq250612a-fra.htm
\n2\t https:\/\/www.banqueducanada.ca\/2025\/05\/rapport-sur-la- <\/p>\n
stabilite-financiere-2025\/?theme_mode=light&_gl=1*1bswsmg*_
\nga*MTkzMzkwNTc0MC4xNzYwMDM1NjY0*_ga_D0WRRH3RZH*czE
\n3NjAwMzU2NjMkbzEkZzEkdDE3NjAwMzU2OTQkajI5JGwwJGgw <\/p>\n
Volume 69 | Book 2 \/ Tome 2 | 2025 9Return to CONTENTS<\/p>\n
https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250612\/dq250612a-fra.htm
\nhttps:\/\/www.banqueducanada.ca\/2025\/05\/rapport-sur-la-stabilite-financiere-2025\/?theme_mode=light&_gl=1*1bswsmg*_ga*MTkzMzkwNTc0MC4xNzYwMDM1NjY0*_ga_D0WRRH3RZH*czE3NjAwMzU2NjMkbzEkZzEkdDE3NjAwMzU2OTQkajI5JGwwJGgw<\/p>\n
EXECUTIVE CORNER<\/p>\n
The AIC has given me a career,
\nallowed me to provide for my
\nfamily, and given me lifelong
\nfriendships. I believe in giving
\nback to an organization that
\nhas been so good to me.<\/p>\n
AIC President
\nTerry Dowle, P. App., AACI
\nfocuses on helping Members
\nmeet today\u2019s challenges<\/p>\n
Q. You have over 30 years of real estate valuation
\nexperience. Can you elaborate on the career path
\nthat led to your current position? <\/p>\n
I definitely \u2018fell\u2019 into this profession. In 1985, I graduated
\nhigh school and a friend was taking the Real Estate
\nAppraisal Program at Langara College in Vancouver.
\nI decided to go along. Here we are 37 years later and I am
\nfortunate enough to be representing the Members of the
\nAppraisal Institute of Canada (AIC) as President. <\/p>\n
Return to CONTENTS10 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada <\/p>\n
EXECUTIVE CORNER<\/p>\n
Q. What would you say have been
\nyour career highlights?
\nOver the years, I have had many <\/p>\n
highlights, from interesting assignments
\nand travel to engaging with unique and
\nwonderful people. My personal highlights
\nmost often relate to some of the more
\nunique experiences. For example, as
\nVancouver Chapter Chair, I had the chance
\nto engage with a lot of very active and
\nknowledgeable Members. In 2020, as
\nPresident of the AIC-BC Board, I had to
\nnavigate the challenges our Members were
\nfacing related to the global pandemic. Now,
\nas National President, I am afforded the
\nopportunity to see the bigger picture and
\nhow Members from across the country have
\nsimilar needs and desires, while facing the
\nsame difficulties as our businesses evolve.<\/p>\n
It has been and continues to be a
\nwonderful journey.<\/p>\n
Q. You are currently involved in an
\ninteresting array of business
\nventures based out of Burnaby, BC. <\/p>\n
You are Vice-President of Niemi LaPorte
\n& Dowle Appraisals; President of Niemi
\nLaPorte & Dowle Whistler Appraisal Group;
\na founding partner in NLD Consulting (a firm
\ncompleting depreciation reports and reserve
\nstudies in BC, Saskatchewan and Manitoba);
\nand you manage the Peace Region
\nunder Nearhood Commercial Appraisals, <\/p>\n
a division of Niemi, LaPorte & Dowle. Can
\nyou tell us about this network of business
\ninterests and your specific areas of practice
\nand responsibilities?
\nOur business has evolved a great deal over
\nthe years. Originally, we were a residential
\nand commercial appraisal company,
\nfocused on point-in-time appraisals.
\nOver the years, we have seen the need to
\nexpand our repertoire into other areas of
\nconsulting and valuation. We first looked
\nto expand into geographical areas where
\nwe had local expertise and where there
\nwas a lack of representation. While this
\nwas successful, we recognized that there
\nare many other areas of consulting and
\nvaluation that our Members can impact. We
\nhave become a go-to firm for depreciation
\nreports and reserve fund studies, and are
\nextending our expertise through Business
\nto Business (B2B) opportunities with other
\nindependent appraisal members across
\nthe country. We are very excited about the
\nfuture of these opportunities, both for my
\npartners and for AIC Members. <\/p>\n
Q. After earning your P. App., AACI
\ndesignation in November 1995,
\nyou began volunteering with the <\/p>\n
AIC in 2001. You have been a Chapter Chair
\nand a Past President of AIC-BC, and you
\nhave served on a wide variety of committees
\nand Board positions with AIC National. You
\nobviously made a decision at some point in
\nyour career to become engaged in volunteer
\nactivities. How would you sum up your
\nexperiences as a volunteer and what it has
\nmeant to you personally and professionally?
\nBeing a volunteer has opened many doors
\nfor me both personally and professionally.
\nThe contacts that you make in any volunteer
\nrole significantly enhance your experience
\nand knowledge. As a volunteer, you get a
\nbetter understanding of the community you
\nserve. You also have the ability to help that
\ncommunity and to build a stronger future.
\nI am energized by the interactions with my
\ncolleagues and allied organizations, as well
\nas the new opportunities that continually
\npresent themselves. Although the
\ncommitment can seem daunting at times, <\/p>\n
Our Members are facing a variety of challenges
\nin a rapidly changing world, and we are working
\ndiligently to find solutions to those challenges.<\/p>\n
Volume 69 | Book 2 \/ Tome 2 | 2025 11Return to CONTENTS<\/p>\n
EXECUTIVE CORNER<\/p>\n
the reward of working with passionate
\npeople toward a better future is extremely
\nfulfilling. The AIC has given me a career,
\nallowed me to provide for my family, and
\ngiven me lifelong friendships. I believe in
\ngiving back to an organization that has been
\nso good to me.<\/p>\n
Q. As AIC\u2019s new President,
\nwhat do you see as your main
\nareas of focus? <\/p>\n
I believe that our Members are the
\nkey stakeholders in our organization.
\nEverything that the AIC, the staff and the
\nvolunteers do is for the betterment of
\nthe Members. Our Members are facing a
\nvariety of challenges in a rapidly changing
\nworld, and we are working diligently to find
\nsolutions to those challenges. <\/p>\n
AIC Members are extremely well
\nrecognized in the world of valuation
\nspaces. Our place in the global valuation
\ncommunity creates value for our Members
\nand, in turn, offers us more business
\nopportunities. We will continue to build
\nstrong relationships with The European
\nGroup of Valuers\u2019 Associations (TEGOVA),
\nthe International Association of Assessing
\nOfficers (IA AO), the International
\nValuation Standards Council (IVSC), the
\nAmerican Society of Appraisers (ASA),
\nthe Appraisal Institute (AI) and other
\nlike-minded organizations. <\/p>\n
On another front, the AIC is continuing
\nits outreach to lenders, delving into
\nArtificial Intelligence and how it impacts our
\nfee Members, addressing the changes in
\nour governance and policies, and reaching
\nout to provincial affiliates to build stronger
\nrelationships and a greater understanding
\nof local issues.\u00a0With the increased presence
\nof LLMs (large language models) and <\/p>\n
Artificial Intelligence, we are working to
\nfind a pathway to enhance our Members\u2019
\nservices involving these technologies.
\nThe AIC is moving forward into a new and
\nexciting era. Our Members are struggling
\nwith challenges of the changing market,
\nnew disruptors, and continuing and <\/p>\n
With the increased presence of LLMs and
\nArtificial Intelligence, we are working to find a
\npathway to enhance our Members\u2019 services
\ninvolving these technologies.<\/p>\n
New Candidates are the lifeblood of the
\nAIC and we want to ensure their journey is
\npositive and successful.<\/p>\n
advancing education. We want to engage
\nwith them to gather feedback on their
\nconcerns and needs. To this end, we are
\ncounting on our provincial affiliate leaders
\nto continue engaging with Members and
\nto provide additional coordinated initiatives
\nto assist them. <\/p>\n
Finally, a number of AIC committees
\nhave been putting in a great deal of
\nwork to streamline the education and
\npathway to designation. We have been
\nlistening to Member feedback on things
\nsuch as education, work product review,
\nApplied Experience Program (AEP)
\nExams, and international pathways. New
\nCandidates are the lifeblood of the AIC and <\/p>\n
Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada 12 Return to CONTENTS<\/p>\n
EXECUTIVE CORNER<\/p>\n
I want to build bridges and create an organization that provides a great
\nexperience for all Members, regardless of where they practice or in what asset
\nclass they specialize. Our goal is to have an appraiser be the first person
\nthought of when someone is involved in a real estate transaction or decision.<\/p>\n
we want to ensure their journey is positive
\nand successful.<\/p>\n
Q. What do you see as the biggest
\nchallenges in the year ahead for
\nyou as an individual, the AIC and <\/p>\n
appraisers in general, and the real property
\nindustry overall?
\nFor me personally, it will be balancing the
\nneeds of the AIC, the Members, the affiliate
\nassociations and allied organizations.
\nFor the AIC, it will be continuing to
\nbuild transparent and meaningful
\ncommunication between our Members and
\nour affiliate associations. For appraisers
\nin general, it will be gaining access to
\nreliable and affordable data. Appraisers
\nneed good quality data in order to complete
\ntheir assignments. Data has become more
\ndifficult and expensive to obtain. And for the
\nreal property industry, the challenge will
\nbe dealing with Artificial Intelligence and
\nthe impact it has on the traditional methods
\nof valuation.<\/p>\n
Q. A year from now, when you
\nreflect back on your term as
\nPresident, what do you hope will <\/p>\n
have been the Institute\u2019s most significant
\naccomplishments in that time period?
\nThere are so many things to accomplish.
\nI would hope to have advanced the
\nprofession for all Members. I want to
\nbuild bridges and create an organization
\nthat provides a great experience for
\nall Members, regardless of where
\nthey practice or in what asset class
\nthey specialize. Our goal is to have an
\nappraiser be the first person thought of
\nwhen someone is involved in a real estate
\ntransaction or decision. <\/p>\n
Q. What advice would you give to
\nnew Members entering the
\nprofession and to existing <\/p>\n
Members going forward?
\nMake it a priority to build relationships
\nwith people in the industry and to do it
\nearly in their career. We are all part of the
\nsame \u2018club.\u2019 Connect with your peers and
\nget involved with the organization. These
\nactivities will bring you more satisfaction
\nand open opportunities for your career. <\/p>\n
Q. With the demands on your time
\nfrom a business and volunteer
\nperspective, how do you spend your <\/p>\n
personal time?
\nI try to spend quality time with my wife
\nand daughter. They are both busy, but we
\nalways find time for a dinner together.
\nMy wife and I like to go hiking, so we do that
\nas often as we can. On Sundays, I get to
\ncoach my daughter\u2019s adult women\u2019s soccer
\nteam, an activity that I enjoy very much. <\/p>\n
Suite 101, 24 Inglewood Drive, St. Albert, AB T8N 6K4<\/p>\n
Please send resumes to: info@crvg.com
\nAACI & Candidates<\/p>\n
Tel: (780) 424-8856 \u2022 Fax: (587) 290-2267<\/p>\n
Volume 69 | Book 2 \/ Tome 2 | 2025 13Return to CONTENTS<\/p>\n
mailto:info@crvg.com<\/p>\n