{"id":29989,"date":"2016-04-06T10:23:10","date_gmt":"2016-04-06T14:23:10","guid":{"rendered":"https:\/\/www.aicanada.ca\/fr\/cpv-issue\/2016-volume-60-livre-1\/"},"modified":"2016-04-06T10:24:10","modified_gmt":"2016-04-06T06:24:10","slug":"2016-volume-60-livre-1","status":"publish","type":"issue","link":"https:\/\/www.aicanada.ca\/fr\/cpv-issue\/2016-volume-60-livre-1\/","title":{"rendered":"2016 \u2013 Volume 60 \u2013 Tome 1"},"content":{"rendered":"<p>T H E  O F F I C I A L  P U B L I C A T I O N  O F  T H E  A P P R A I S A L  I N S T I T U T E  O F  C A N A D A<br \/>\nP U B L I C A T I O N  O F F I C I E L L E  D E  L\u2019 I N S T I T U T  C A N A D I E N  D E S  \u00c9 V A L U A T E U R S<\/p>\n<p>PM<br \/>\n #<\/p>\n<p>40<br \/>\n00<\/p>\n<p>82<br \/>\n49<\/p>\n<p> R<br \/>\net<\/p>\n<p>ur<br \/>\nn <\/p>\n<p>un<br \/>\nde<\/p>\n<p>liv<br \/>\ner<\/p>\n<p>ab<br \/>\nle<\/p>\n<p> C<br \/>\nan<\/p>\n<p>ad<br \/>\nia<\/p>\n<p>n<br \/>\nAd<\/p>\n<p>dr<br \/>\nes<\/p>\n<p>se<br \/>\ns <\/p>\n<p>to<br \/>\n:  <\/p>\n<p>Ap<br \/>\npr<\/p>\n<p>ai<br \/>\nsa<\/p>\n<p>l I<br \/>\nns<\/p>\n<p>tit<br \/>\nut<\/p>\n<p>e<br \/>\nof<\/p>\n<p> C<br \/>\nan<\/p>\n<p>ad<br \/>\na,<\/p>\n<p> 4<br \/>\n03<\/p>\n<p>-2<br \/>\n00<\/p>\n<p> C<br \/>\nat<\/p>\n<p>he<br \/>\nrin<\/p>\n<p>e<br \/>\nSt<\/p>\n<p>.,<br \/>\nO<\/p>\n<p>tt<br \/>\naw<\/p>\n<p>a,<br \/>\n O<\/p>\n<p>N<br \/>\nK2<\/p>\n<p>P<br \/>\n2K<\/p>\n<p>9.<br \/>\n E<\/p>\n<p>m<br \/>\nai<\/p>\n<p>l:<br \/>\nin<\/p>\n<p>fo<br \/>\n@<\/p>\n<p>ai<br \/>\nca<\/p>\n<p>na<br \/>\nda<\/p>\n<p>.c<br \/>\na<\/p>\n<p>USING CUSPAP TO BUILD A<br \/>\nWAR-TORN AFGHANISTAN ECONOMY  <\/p>\n<p>Reb\u00e2tir l\u2019\u00e9conomie afghane<br \/>\n\u00e0 l\u2019aide des NUPPEC<\/p>\n<p>BEST PRACTICES<br \/>\n\u2013 EXAMPLES FROM THE FIELD <\/p>\n<p>Pratiques exemplaires<br \/>\n\u2013 exemples sur le terrain<\/p>\n<p>VALUING<br \/>\nSOLAR ENERGY <\/p>\n<p>\u00c9valuer l\u2019\u00e9nergie solaire<\/p>\n<p>VOL 60 | BOOK 1 \/ TOME 1 | 2016<\/p>\n<p>INJURIOUS AFFECTION<\/p>\n<p>L&rsquo;EFFET<br \/>\nPR\u00c9JUDICIABLE<\/p>\n<p>and HVTL corridors<\/p>\n<p>et corridors de LTHT<\/p>\n<p>mailto:info@aicanada.ca<\/p>\n<p>IndustrIal<\/p>\n<p>Commercial<br \/>\nInvestment<\/p>\n<p>A<br \/>\nss<\/p>\n<p>e<br \/>\nss<\/p>\n<p>m<br \/>\ne<br \/>\nn<br \/>\nt <\/p>\n<p>a<br \/>\np<\/p>\n<p>p<br \/>\ne<br \/>\na<br \/>\nl<\/p>\n<p>Appraisals<\/p>\n<p>D<br \/>\nIv<\/p>\n<p>o<br \/>\nr<\/p>\n<p>c<br \/>\ne<\/p>\n<p>S<br \/>\nin<\/p>\n<p>g<br \/>\nle<\/p>\n<p>-F<br \/>\na<br \/>\nm<\/p>\n<p>ily<\/p>\n<p>A<br \/>\ng<\/p>\n<p>ric<br \/>\nu<\/p>\n<p>ltu<br \/>\nra<\/p>\n<p>l<\/p>\n<p>V<br \/>\na<br \/>\nl<br \/>\nu<br \/>\na<br \/>\nt<br \/>\nIo<\/p>\n<p>n<\/p>\n<p>F<br \/>\no<\/p>\n<p>re<br \/>\nc<br \/>\nlo<\/p>\n<p>su<br \/>\nre<\/p>\n<p>M<br \/>\nu<\/p>\n<p>lt<br \/>\ni-<\/p>\n<p>F<br \/>\na<br \/>\nm<\/p>\n<p>ily<\/p>\n<p>coMpetItIve<\/p>\n<p>r<br \/>\ne<br \/>\nn<br \/>\no<\/p>\n<p>v<br \/>\na<br \/>\nti<\/p>\n<p>o<br \/>\nn<\/p>\n<p>Lease<br \/>\nArbitration<\/p>\n<p>r<br \/>\ne<\/p>\n<p>S<br \/>\nID<\/p>\n<p>e<br \/>\nn<\/p>\n<p>t<br \/>\nIA<\/p>\n<p>L<\/p>\n<p>Q<br \/>\nu<br \/>\na<br \/>\nl<br \/>\nIt<br \/>\ny<\/p>\n<p>estate<\/p>\n<p>Delivering leading edge appraisal strategies<\/p>\n<p>C<br \/>\no<br \/>\nn<br \/>\nsu<\/p>\n<p>ltin<br \/>\ng<\/p>\n<p>real property<br \/>\nExpropriation<\/p>\n<p>CDC INC. is a national full service appraisal firm<br \/>\nT:  1.866.479.7922 <\/p>\n<p>F:  1.877.429.7972 <\/p>\n<p>E:  info@cdcinc.ca<\/p>\n<p>W:  www.cdcinc.ca<\/p>\n<p>REAL PROPERTY APPRAISALS<\/p>\n<p>@cdcincproperty<\/p>\n<p>facebook.com\/cdcconsulting<\/p>\n<p>Are your clients in<br \/>\nthe market for a<br \/>\nmortgage? Thinking<br \/>\nof renovating?<\/p>\n<p>A Mortgage<br \/>\nBroker can help!<br \/>\nEnsure your clients receive<br \/>\nexpert advice and unparalleled<br \/>\nchoice by directing them to:<br \/>\nMortgageProsCan.ca\/findabroker<\/p>\n<p>mailto:info@cdcinc.ca<br \/>\nhttp:\/\/www.cdcinc.ca<br \/>\n<a class=\"twitter-timeline\" data-width=\"500\" data-height=\"750\" data-dnt=\"true\" href=\"https:\/\/twitter.com\/cdcincproperty?ref_src=twsrc%5Etfw\">Tweets by cdcincproperty<\/a><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nhttps:\/\/www.facebook.com\/cdcconsulting\/<\/p>\n<p>Are your clients in<br \/>\nthe market for a<br \/>\nmortgage? Thinking<br \/>\nof renovating?<\/p>\n<p>A Mortgage<br \/>\nBroker can help!<br \/>\nEnsure your clients receive<br \/>\nexpert advice and unparalleled<br \/>\nchoice by directing them to:<br \/>\nMortgageProsCan.ca\/findabroker<\/p>\n<p>http:\/\/mortgageproscan.ca\/findabroker<\/p>\n<p>Accelerating success.<\/p>\n<p>At Colliers, jump into your specialization. Colliers International<br \/>\nis committed to paving a quick path to success for our<br \/>\nemployees. With access to hundreds of free courses through<br \/>\nColliers University and ongoing career mentorship, our staff<br \/>\nis not only encouraged to excel, they are given the tools to do<br \/>\nso. Our commitment to service excellence, coupled with our<br \/>\nunparalleled market intelligence continues to differentiate us as<br \/>\nthe firm of choice in global valuation and advisory services.<\/p>\n<p>JUMP INTO<br \/>\nYOUR CAREER<\/p>\n<p>collierscanada.com\/careers<\/p>\n<p>MAKE YOUR LEAP Professionals Wanted<\/p>\n<p>INVESTISSEZ DANS<br \/>\nVOTRE CARRI\u00c8RE<\/p>\n<p>collierscanada.com\/careers<\/p>\n<p>Chez Colliers, d\u00e9veloppez votre sp\u00e9cialisation. Colliers International<br \/>\ns\u2019engage \u00e0  assurer le succ\u00e8s de ses employ\u00e9s. Avec un acc\u00e8s<br \/>\ngratuit \u00e0 des centaines de cours aupr\u00e8s de l\u2019universit\u00e9 Colliers<br \/>\nainsi qu\u2019\u00e0 son programme de mentorat; notre personnel est non<br \/>\nseulement encourag\u00e9 \u00e0 exceller, mais nous leur fournissons tous<br \/>\nles outils n\u00e9cessaire pour le faire. Notre engagement envers<br \/>\nl\u2019excellence du service, additionn\u00e9 \u00e0 notre connaissance in\u00e9gal\u00e9e<br \/>\ndu march\u00e9, permet \u00e0 Colliers de se diff\u00e9rencier comme \u00e9tant<br \/>\nla firme de choix en l\u2019\u00e9valuation et services consultatifs.<\/p>\n<p>FAIRE LE SAUT Professionals demand\u00e9s<\/p>\n<p>http:\/\/collierscanada.com\/careers<br \/>\nhttp:\/\/collierscanada.com\/careers<\/p>\n<p>08 Executive Corner<br \/>\nEXCITING YEAR AHEAD<\/p>\n<p>34 The Future is Bright<br \/>\nCHRISTINA DHESI: STAYING THE<br \/>\nCOURSE TO REACH HER GOALS<\/p>\n<p>40 Legal Matters<br \/>\nAPPRAISER\u2019S REQUIREMENT OF<br \/>\n\u2018GOOD FAITH\u2019 PART 2 &#8211;<br \/>\nNON-CONTRACTUAL \u2018GOOD FAITH\u2019<\/p>\n<p>44 Professional Practice Matters<br \/>\nBEST PRACTICES \u2013 EXAMPLES<br \/>\nFROM THE FIELD<\/p>\n<p>50 Marketing &#038; Communications<br \/>\nNEW AIC ADVERTISING CAMPAIGN<\/p>\n<p>53 CRA Diversification<br \/>\nSTEVE OTTO: ASSESSMENT<br \/>\nAPPEALS<\/p>\n<p>60 NEWS<\/p>\n<p>62 DESIGNATIONS, CANDIDATES,<br \/>\nSTUDENTS<\/p>\n<p>10 Le coin de l\u2019ex\u00e9cutif<br \/>\nUNE EXCELLENTE ANN\u00c9E ENTRE EN SC\u00c8NE<\/p>\n<p>37 L\u2019avenir s\u2019annonce bien<br \/>\nCHRISTINA DHESI : GARDER LE CAP POUR<br \/>\nATTEINDRE SES BUTS<\/p>\n<p>42 Questions jurdiques<br \/>\nEXIGENCE DE \u00ab BONNE FOI \u00bb DE<br \/>\nL\u2019\u00c9VALUATEUR PARTIE 2 &#8211; \u00ab BONNE FOI \u00bb<br \/>\nNON CONTRACTUELLE<\/p>\n<p>47 Parlons pratique professionnelle<br \/>\nPRATIQUES EXEMPLAIRES \u2013 EXEMPLES<br \/>\nSUR LE TERRAIN<\/p>\n<p>51 Marketing et Communications<br \/>\nNOUVELLE CAMPAGNE DE PUBLICIT\u00c9 DE L\u2019ICE<\/p>\n<p>54 Diversification des fonctions de CRA<br \/>\nSTEVE OTTO : APPELS EN MATI\u00c8RE<br \/>\nD\u2019\u00c9VALUATION FONCI\u00c8RE<\/p>\n<p>60  NOUVELLES<\/p>\n<p>62 D\u00c9SIGNATIONS, STAGIAIRES,<br \/>\n\u00c9TUDIANTS<\/p>\n<p>COLUMNS \/ CHRONIQUES<\/p>\n<p>FEATURES \/ EN VEDETTE<br \/>\nVOL 60 |  BOOK 1 \/  TOME 1  |  2016<\/p>\n<p>Publication Mails Agreement #40008249.<br \/>\nReturn undeliverable Canadian addresses to: Appraisal Institute of Canada,<br \/>\n403-200 Catherine St., Ottawa, ON K2P 2K9. Email: info@aicanada.ca<\/p>\n<p>The articles printed in this issue represent authors\u2019 opinions only<br \/>\nand are not necessarily endorsed by the APPRAISAL INSTITUTE<br \/>\nOF CANADA. Copyright 2016 by the APPRAISAL INSTITUTE OF<br \/>\nCANADA. All rights reserved. Reproduction in whole or in part<br \/>\nwithout written permission is strictly prohibited. Subscription, $40.00<br \/>\nper year. Printed in Canada. Les articles imprim\u00e9s dans ce num\u00e9ro<br \/>\nne rep\u00e9sentent que l\u2019opinion de leur auteur respectif, mais ne sont<br \/>\npas n\u00e9ces\u2013sairement endoss\u00e9s par L\u2019INSTITUT CANADIEN DES<br \/>\n\u00c9VALUATEURS. Tous droits reserv\u00e9s 2016 par L\u2019INSTITUT CANADIEN<br \/>\nDES \u00c9VALUATEURS. La reproduction totale ou partielle sous quelque<br \/>\nform que se soit sans authorisation \u00e9crite est absolument interdite.<br \/>\nAbonnement $40.00 par ann\u00e9e. Imprim\u00e9 au Canada.<\/p>\n<p>* The Appraisal Institute of Canada reserves the right to reject<br \/>\nadvertising that it deems to be inappropriate.<br \/>\n** The publisher and the Appraisal Institute of Canada cannot be<br \/>\nheld liable for any material used or claims made in advertising<br \/>\nincluded in this publication.Indexed in the Canadian Business<br \/>\nIndex and available on-line in the Canadian Business &#038; Current<br \/>\nAffairs database.<br \/>\nISSN 0827-2697<\/p>\n<p>Publication management, design and production by:<br \/>\nDirection, conception et production par :<\/p>\n<p>3rd Floor \u2013 2020 Portage Avenue, Winnipeg, MB R3J 0K4<br \/>\nPhone: 866-985-9780 \u2022 Fax: 866-985-9799<br \/>\nE-mail: info@kelman.ca \u2022 Web: www.kelman.ca<\/p>\n<p>Managing Editor: Craig Kelman<br \/>\nDesign\/Layout:  Gayl Punzalan \/ Jackie Magat<br \/>\nMarketing Manager: Kris Fillion<br \/>\nAdvertising Co-ordinator: Stefanie Hagidiakow<\/p>\n<p>Director &#8211; Marketing and Communications: Sheila Roy, Ottawa<br \/>\nCommunications Officer: Mary-Jane Erickson, Ottawa<\/p>\n<p>VALUING SOLAR ENERGY<br \/>\n\u00c9VALUER L\u2019\u00c9NERGIE<br \/>\nSOLAIRE<\/p>\n<p>BEST PRACTICES \u2013<br \/>\nEXAMPLES FROM THE FIELD<br \/>\nPRATIQUES EXEMPLAIRES \u2013<br \/>\nEXEMPLES SUR LE TERRAIN<\/p>\n<p>USING CUSPAP TO BUILD A<br \/>\nWAR-TORN AFGHANISTAN<br \/>\nECONOMY<br \/>\nREB\u00c2TIR L\u2019\u00c9CONOMIE AFGHANE<br \/>\n\u00c0 L\u2019AIDE DES NUPPEC<\/p>\n<p>INJURIOUS AFFECTION AND<br \/>\nHVTL CORRIDORS<br \/>\nL&rsquo;EFFET PR\u00c9JUDICIABLE<br \/>\nET CORRIDORS DE LTHT<\/p>\n<p>12 4428<\/p>\n<p>CONTENTS<br \/>\nTABLE DES MATI\u00c8RES<\/p>\n<p>20<\/p>\n<p>Volume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 5<\/p>\n<p>mailto:info@aicanada.ca<br \/>\nmailto:info@kelman.ca<br \/>\nhttp:\/\/www.kelman.ca<\/p>\n<p>Are you planning on attending the 2016 AIC Annual Conference<br \/>\nin Winnipeg?<\/p>\n<p>The Planning Committee is eagerly preparing and looking forward to<br \/>\nwelcoming you. <\/p>\n<p>This year\u2019s Keynote speaker is gold medal Olympian, Jon Montgomery. And<br \/>\nreturning this year is our plenary session featuring valuation experts who will share<br \/>\ntheir insights on national market forecasts and trends. <\/p>\n<p>Interested in residential appraisal?<\/p>\n<p>Various sessions are offered each day of the conference, including the<br \/>\nresidential housing forecast, diversification options for CRAs, residential<br \/>\nconstruction and much more!  <\/p>\n<p>Focusing on non-residential appraisal?<\/p>\n<p>There will be sessions on farm land trends, commercial lease analysis,<br \/>\ndiscussions on machinery and equipment, the retail landscape in Canada and<br \/>\nmany more interesting topics. <\/p>\n<p>Are you a Candidate Member?<\/p>\n<p>For Candidates, there will be panel discussions with seasoned professionals<br \/>\nand plenty of opportunities to ask questions on best practices and tips to help<br \/>\nobtain your designation.<\/p>\n<p>Join us in Winnipeg, where you can network with appraisal professionals<br \/>\nnationwide in breathtaking venues, enjoy engaging education sessions and take in<br \/>\nthe interesting architecture of the Winnipeg region. <\/p>\n<p>As a conference delegate, you will earn 15 discretionary CPD credits.<br \/>\nThat is almost all the credits you need to meet your two-year CPD cycle<br \/>\nrequirements.<\/p>\n<p>Not available for the entire conference? We also have daily registration options to<br \/>\nbest suit your needs. <\/p>\n<p>REGISTER TODAY! EARLY BIRD RATE AVAILABLE UNTIL APRIL 19, 2016<br \/>\nhttp:\/\/www.aicanada.ca\/aic-2016\/<\/p>\n<p>2016 Annual General Meeting<br \/>\nFriday, June 10, 2016 \u2013 3:00 p.m. CDT<br \/>\nFort Garry Hotel, Winnipeg, Manitoba<\/p>\n<p>AGENDA<\/p>\n<p>1. Call to Order<\/p>\n<p>2. Chair\u2019s Opening Remarks<\/p>\n<p>3. Introduction of Past Presidents and Guests<\/p>\n<p>4. Introduction of 2015 \u2013 2016 Board of Directors<\/p>\n<p>5. Introduction of Parliamentarian, Sergeant at Arms<br \/>\nand Scrutineers<\/p>\n<p>6. Moment of Silence in Honour of Deceased Members<\/p>\n<p>7. Confirmation of Quorum and Proxy\/Electronic Voting<\/p>\n<p>8. Approval of Agenda<\/p>\n<p>9. Approval of the Minutes of the 2015 Annual General<br \/>\nMeeting<\/p>\n<p>10. President\u2019s Report<\/p>\n<p>11. CEO\u2019s Report<\/p>\n<p>12. Presentation and Receipt of Audited Statements<br \/>\nfor the Year Ending December 31, 2015<\/p>\n<p>13. Appointment of Public Accountant for Year Ending<br \/>\nDecember 31, 2016<\/p>\n<p>14. Election of the Board of Directors of the Appraisal<br \/>\nInstitute of Canada<\/p>\n<p>15. New Business<\/p>\n<p>16. Adjournment    <\/p>\n<p>Canadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 20166 Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>http:\/\/www.aicanada.ca\/aic-2016\/<\/p>\n<p>Pr\u00e9voyez-vous assister \u00e0 la Conf\u00e9rence annuelle 2016 de l\u2019ICE \u00e0 Winnipeg?<\/p>\n<p>Le Comit\u00e9 de planification a entrepris les pr\u00e9paratifs et a bien h\u00e2te de vous accueillir.  <\/p>\n<p>Cette ann\u00e9e, le conf\u00e9rencier invit\u00e9 est l\u2019Olympien, m\u00e9daill\u00e9 d\u2019or, Jon Montgomery.  Ensuite, nous<br \/>\naurons encore une fois cette ann\u00e9e notre s\u00e9ance pl\u00e9ni\u00e8re mettant en vedette des experts de<br \/>\nl\u2019\u00e9valuation qui partageront leurs id\u00e9es quant aux pr\u00e9visions et tendances sur le march\u00e9 national.  <\/p>\n<p>Cette ann\u00e9e, le conf\u00e9rencier invit\u00e9 est l\u2019Olympien, m\u00e9daill\u00e9 d\u2019or, Jon Montgomery.  Ensuite, nous<br \/>\naurons encore une fois cette ann\u00e9e notre s\u00e9ance pl\u00e9ni\u00e8re mettant en vedette des experts de<br \/>\nl\u2019\u00e9valuation qui partageront leurs id\u00e9es quant aux pr\u00e9visions et tendances sur le march\u00e9 national.  <\/p>\n<p>Vous vous int\u00e9ressez \u00e0 l\u2019\u00e9valuation r\u00e9sidentielle?<\/p>\n<p>Une vari\u00e9t\u00e9 de sessions auront lieu tous les jours de la conf\u00e9rence, y compris sur les<br \/>\npr\u00e9visions du march\u00e9 de l\u2019habitation r\u00e9sidentielle, les options de diversification pour les<br \/>\nCRA, la construction r\u00e9sidentielle et plus encore!  <\/p>\n<p>Vous concentrez sur l\u2019\u00e9valuation non r\u00e9sidentielle?<\/p>\n<p>Des sessions porteront sur les tendances entourant les terres agricoles, l\u2019analyse des baux<br \/>\ncommerciaux, des discussions sur la machinerie et l\u2019\u00e9quipement, le secteur du d\u00e9tail au<br \/>\nCanada et de nombreux autres sujets int\u00e9ressants.  <\/p>\n<p>\u00cates-vous membre stagiaire?<\/p>\n<p>Pour les stagiaires, nous offrons des panels de discussion avec des professionnels bien<br \/>\navis\u00e9s et de nombreuses occasions pour poser des questions sur les pratiques exemplaires<br \/>\net obtenir des conseils sur la fa\u00e7on d\u2019obtenir votre titre. <\/p>\n<p>Soyez des n\u00f4tres \u00e0 Winnipeg o\u00f9 vous pourrez r\u00e9seauter avec des professionnels de l\u2019\u00e9valuation<br \/>\nde partout au pays, tout en appr\u00e9ciant des paysages \u00e0 en couper le souffle. Vous aurez aussi<br \/>\nl\u2019occasion de participer \u00e0 des sessions \u00e9ducatives de premier choix et de visiter les structures<br \/>\narchitecturales int\u00e9ressantes de la r\u00e9gion de Winnipeg.  <\/p>\n<p>Comme d\u00e9l\u00e9gu\u00e9 \u00e0 la conf\u00e9rence, vous obtiendrez 15 cr\u00e9dits discr\u00e9tionnaires de PPC. C\u2019est<br \/>\npratiquement le nombre de cr\u00e9dits dont vous avez besoin pour satisfaire les exigences de votre<br \/>\ncycle de PPC de deux ans!<\/p>\n<p>Vous ne pouvez assister \u00e0 toute la conf\u00e9rence? Nous offrons \u00e9galement une inscription<br \/>\nquotidienne pour r\u00e9pondre \u00e0 vos besoins! <\/p>\n<p>INSCRIVEZ-VOUS AUJOURD\u2019HUI! LE TARIF PR\u00c9-INSCRIPTION EST DISPONIBLE<br \/>\nJUSQU\u2019AU 19 AVRIL 2016.<\/p>\n<p>https:\/\/www.aicanada.ca\/fr\/aic-2016\/<\/p>\n<p>Assembl\u00e9e g\u00e9n\u00e9rale annuelle 2016<br \/>\nVendredi le 10 juin 2016 \u2013 15 h  <\/p>\n<p>(heure avanc\u00e9e du centre)<br \/>\nH\u00f4tel Fort Garry, Winnipeg (Manitoba)<\/p>\n<p>ORDRE DU JOUR<\/p>\n<p>1. Rappel \u00e0 l\u2019ordre<\/p>\n<p>2. Remarques d\u2019ouverture du pr\u00e9sident<\/p>\n<p>3. Pr\u00e9sentation des anciens pr\u00e9sidents et invit\u00e9s<\/p>\n<p>4. Pr\u00e9sentation des membres du Conseil<br \/>\nd\u2019administration 2015 \u2013 2016<\/p>\n<p>5. Pr\u00e9sentation du parlementaire, du sergent<br \/>\nd\u2019armes et des scrutateurs<\/p>\n<p>6. Moment de silence en hommage<br \/>\naux membres d\u00e9c\u00e9d\u00e9s<\/p>\n<p>7. Confirmation du quorum et des votes par<br \/>\nprocuration\/voie \u00e9lectronique<\/p>\n<p>8. Approbation de l\u2019ordre du jour<\/p>\n<p>9. Approbation du proc\u00e8s-verbal<br \/>\nde l\u2019Assembl\u00e9e g\u00e9n\u00e9rale annuelle 2015 <\/p>\n<p>10. Rapport du pr\u00e9sident<\/p>\n<p>11. Rapport du chef de la direction<\/p>\n<p>12. Pr\u00e9sentation et r\u00e9ception des \u00e9tats financiers<br \/>\nv\u00e9rifi\u00e9s pour l\u2019exercice prenant fin le<br \/>\n31 d\u00e9cembre 2015<\/p>\n<p>13. Nomination des experts-comptables pour<br \/>\nl\u2019exercice prenant fin le 31 d\u00e9cembre 2016<\/p>\n<p>14. \u00c9lection des membres du Conseil<br \/>\nd\u2019administration de l\u2019Institut canadien des<br \/>\n\u00e9valuateurs<\/p>\n<p>15. Nouveaux sujets <\/p>\n<p>16. Lev\u00e9e de la s\u00e9ance    <\/p>\n<p>Volume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 7Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>https:\/\/www.aicanada.ca\/fr\/aic-2016\/<\/p>\n<p>EXECUTIVE CORNER<\/p>\n<p>REMARKABLE 2015 SETS STAGE FOR<br \/>\nEXCITING YEAR AHEAD<\/p>\n<p>D A N I E L  D O U C E T ,  A A C I ,  P . A P P ,  P R E S I D E N T<\/p>\n<p>K E I T H  L A N C A S T L E ,  M B A ,  C A E ,  C H I E F  E X E C U T I V E  O F F I C E R<\/p>\n<p>T he past year has been another remarkable year for the Appraisal Institute of Canada (AIC). Our growth, our partnerships, our<br \/>\nexposure and our profile have taken us in<br \/>\nnew and exciting directions.<\/p>\n<p>Since appraisers tend to prefer<br \/>\nnumbers rather than anecdotes, here are<br \/>\na few metrics that will tell the story of<br \/>\nAIC\u2019s growth. <\/p>\n<p>\u2022 There was a 3.1% increase of active<br \/>\nmembership, a 9% increase in<br \/>\nCandidate Members, and a 16%<br \/>\nincrease in Student Members.<\/p>\n<p>\u2022 There was an increase of 12.6% in<br \/>\nstudents registered with the AIC<br \/>\nProgram of Studies through UBC<br \/>\nsince 2014 (1,120 vs 995).<\/p>\n<p>\u2022 There were 697 participants in the<br \/>\nAIC 101: Introduction to the Appraisal<br \/>\nProfession webinar  (a pre-requisite<br \/>\nfor Candidate Membership). <\/p>\n<p>\u2022 There were 354,830 visitors to<br \/>\nwww.AICanada.ca, a 14% increase<br \/>\nfrom 2014.<\/p>\n<p>\u2022 There were 100,962 visits to Find an<br \/>\nAppraiser, a 16% increase from 2014.<\/p>\n<p>\u2022 14,840,020 impressions were made<br \/>\nwith online and print advertisements<br \/>\nand more than 696,046,268<br \/>\nimpressions were made through<br \/>\nearned media relations activity.<\/p>\n<p>\u2022 There was increased chatter on social<br \/>\nmedia including a 51% increase in<br \/>\nfollowers on Twitter; a 23% increase<br \/>\nin likes on Facebook; and a 10%<br \/>\nincrease in members joining our<br \/>\nLinkedIn group.<\/p>\n<p>All of those numbers add up to a very<br \/>\nsuccessful year. Furthermore, when we<br \/>\nlook at the Strategic Plan, there were<br \/>\nseveral major accomplishments within<br \/>\neach of our key results areas.<\/p>\n<p>First, beneath the Advocacy on Behalf<br \/>\nof the Membership pillar, the Advocacy<br \/>\nSub-Committee was launched in<br \/>\n2015. This new committee consists of<br \/>\na representative from each provincial<br \/>\naffiliate working in collaboration with<br \/>\nnational representatives to identify and<br \/>\naddress key policy issues across the<br \/>\ncountry. Since its inception, there have<br \/>\nbeen national meetings with major banks<br \/>\nand appraisal management companies to<br \/>\ndiscuss appraisal fees and turn-around<br \/>\ntimes, as well as provincial meetings<br \/>\nwith real estate boards, provincial<br \/>\ngovernments and land registry offices to<br \/>\ndiscuss access to data. The national office<br \/>\nhas also been active in contacting the<br \/>\nnew members of parliament and meeting<br \/>\nwith political advisors and bureaucrats<br \/>\nregarding housing and financial<br \/>\neconomic policies.K EI T H L A NC A S T L E<\/p>\n<p>DA NIEL DOUCE T<\/p>\n<p>\u201cOUR GROWTH, OUR PARTNERSHIPS,<br \/>\nOUR EXPOSURE AND OUR PROFILE HAVE TAKEN US <\/p>\n<p>IN NEW AND EXCITING DIRECTIONS.\u201d<\/p>\n<p>Canadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 20168 Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>http:\/\/www.AICanada.ca<\/p>\n<p>EXECUTIVE CORNER<\/p>\n<p>Second, within the Diversification<br \/>\nof the Appraisal Professional\u2019s Value<br \/>\nProposition pillar, AIC has taken several<br \/>\nsteps to provide new opportunities for<br \/>\nour members to diversify their practices.<br \/>\nIt has included a new set of standards<br \/>\nwithin the new Canadian Uniform<br \/>\nStandards of Professional Appraisal<br \/>\nPractice (CUSPAP) 2016 to facilitate<br \/>\nour members\u2019 ability to value machinery<br \/>\nand equipment; and it has created a new<br \/>\ncourse within the CRA accreditation<br \/>\n\u2013 BUSI352 \u2013 which provides more<br \/>\nguidance to CRAs to do appraisal review,<br \/>\nlitigation, expropriation, and much<br \/>\nmore. AIC has also been actively meeting<br \/>\nwith like-minded valuation associations<br \/>\nsuch as the Appraisal Institute, The<br \/>\nEuropean Group of Valuers\u2019 Associations<br \/>\n(TEGOVA), the International Association<br \/>\nof Assessing Officers (IAAO), L\u2019Ordre<br \/>\ndes \u00e9valuateurs\u00a0agr\u00e9\u00e9s du Qu\u00e9bec, and<br \/>\nthe International Valuation Standards<br \/>\nCouncil (IVSC) to ensure national<br \/>\nand international opportunities for<br \/>\nour members to be recognized as the<br \/>\n\u2018Professionals of Choice.\u2019 AIC also<br \/>\nfocused on educating members about the<br \/>\nopportunities to diversify their practices<br \/>\nthrough various CPD webinars, the 2015<br \/>\nAIC conference program, and articles<br \/>\nwithin the Canadian Property Valuation<br \/>\n(CPV ) magazine. <\/p>\n<p>Next, within the Recognition of AIC<br \/>\nMembers as Professionals of Choice pillar,<br \/>\nmillions of impressions were earned<br \/>\nthrough advertising, social media and<br \/>\nmedia relations activity that continue<br \/>\nto position AIC members as \u2018Canada\u2019s<br \/>\nreal estate appraisers of choice.\u2019 New ads<br \/>\nwere designed to target our key clients<br \/>\nincluding mortgage brokers, Realtors\u00ae,<br \/>\nlawyers, financial advisors, condominium<br \/>\nowners and government. All of these<br \/>\nadvertisements are focusing on driving<br \/>\ntraffic to the AIC website, which continues<br \/>\nto experience significant growth, especially <\/p>\n<p>the Find an Appraiser online search tool.<br \/>\nAIC has also promoted our members at<br \/>\nvarious events, including the 2015 CAAMP<br \/>\nFraud Summit and national conference, the<br \/>\nToronto Real Estate Forum, and the Credit<br \/>\nUnion Professionals Association.<\/p>\n<p>Finally, within the Vibrant and<br \/>\nEngaged Membership pillar, AIC<br \/>\nis constantly striving to provide<br \/>\nbetter service to its members. It has<br \/>\nimplemented a Candidate Handbook<br \/>\nto guide new Candidates through the<br \/>\ndesignation process; it hosts convenient<br \/>\nwebinars for both professional practice<br \/>\nseminars and continuous professional<br \/>\nlearning opportunities; and it has<br \/>\nupdated all 10 affiliation agreements with<br \/>\nthe provinces to ensure seamless and <\/p>\n<p>world class service to its members. A French<br \/>\nProgram of Studies was implemented in<br \/>\npartnership with Universit\u00e9 Laval, and a<br \/>\nnew award program \u2013 the Top Appraiser<br \/>\nUnder 40 Award \u2013 was also created to<br \/>\nengage younger members in the profession.<\/p>\n<p>Overall, AIC continues to push the<br \/>\nenvelope to ensure that its members receive<br \/>\nmore opportunities to succeed as it strives<br \/>\nto address the issues that are challenging<br \/>\nour members. Over the past year, our spirit<br \/>\nof collaboration, our strong belief in our<br \/>\nprofessional standards and designation<br \/>\nprocess, and our ability to be nimble has<br \/>\nenabled us to act strategically on behalf of<br \/>\nour membership. And, we are confident<br \/>\nthat 2016 will continue to expand these<br \/>\nboundaries to new horizons. <\/p>\n<p> \u201cAIC CONTINUES TO PUSH THE ENVELOPE TO ENSURE<br \/>\nTHAT ITS MEMBERS RECEIVE MORE OPPORTUNITIES  TO SUCCEED.\u201d<\/p>\n<p>Suite 101, 24 Inglewood Drive, St. Albert, AB T8N 6K4<\/p>\n<p>Jeremy Wasmuth, AACI, P. App., B. Comm<\/p>\n<p>Tel: (780) 424-8856  \u2022  Fax: (587) 290-2267<br \/>\nEmail: jwasmuth@crvg.com<\/p>\n<p>Email: jeremy.wasmuth@crvg.com<\/p>\n<p>John F. Wasmuth, AACI, P. App., P. Ag.<\/p>\n<p>Volume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 9Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>mailto:jwasmuth@crvg.com<br \/>\nmailto:jeremy.wasmuth@crvg.com<\/p>\n<p>LA REMARQUABLE ANN\u00c9E 2015<br \/>\nA PR\u00c9PAR\u00c9 L\u2019ENTR\u00c9E EN SC\u00c8NE <\/p>\n<p>D\u2019UNE EXCELLENTE ANN\u00c9E<br \/>\nD A N I E L  D O U C E T ,  A A C I ,  P . A P P ,  P R \u00c9 S I D E N T<\/p>\n<p>K E I T H  L A N C A S T L E ,  M B A ,  C A E ,  C H E F  D E  L A  D I R E C T I O N<\/p>\n<p>LE COIN DE L\u2019EX\u00c9CUTIF<\/p>\n<p>DA NIEL DOUCE T<\/p>\n<p>K EI T H L A NC A S T L E<\/p>\n<p>L \u2019an dernier a \u00e9t\u00e9 une autre ann\u00e9e remarquable pour l\u2019Institut canadien des \u00e9valuateurs (ICE).  Notre croissance, nos<br \/>\npartenariats, notre visibilit\u00e9 et notre profil<br \/>\nnous ont ouvert de nouveaux horizons.<\/p>\n<p>\u00c9tant donn\u00e9 que les \u00e9valuateurs<br \/>\nsemblent pr\u00e9f\u00e9rer les chiffres aux<br \/>\nanecdotes, voici quelques donn\u00e9es qui<br \/>\ndonneront un aper\u00e7u de la croissance<br \/>\nqu\u2019a connue l\u2019ICE. <\/p>\n<p>\u2022 Il y a eu une augmentation de 3,1 %<br \/>\ndes effectifs de membres actifs, une<br \/>\naugmentation de 9 % des membres<br \/>\nstagiaires et une augmentation de<br \/>\n16 % des membres \u00e9tudiants.<\/p>\n<p>\u2022 Il y a eu une augmentation de<br \/>\n12,6 % du nombre d\u2019\u00e9tudiants<br \/>\ninscrits au programme d\u2019\u00e9tudes de<br \/>\nl\u2019ICE dispens\u00e9 par UBC depuis 2014<br \/>\n(1 120 contre 995).<\/p>\n<p>\u2022 Un total de 697 participants ont suivi<br \/>\nle webinaire ICE 101 : Introduction<br \/>\n\u00e0 la profession d\u2019 \u00e9valuateur (cours<br \/>\nobligatoire \u00e0 l\u2019obtention du statut de<br \/>\nmembre stagiaire). <\/p>\n<p>\u2022 Il y a eu 354 830 visiteurs au www.<br \/>\nAICanada.ca, soit une augmentation<br \/>\nde 14 % par rapport \u00e0 2014.<\/p>\n<p>\u2022 Il y a eu 100 962 visites \u00e0 Trouver un<br \/>\n\u00e9valuateur, soit une augmentation de<br \/>\n16 % par rapport \u00e0 2014.<\/p>\n<p>\u2022 Il y a eu 14 840 020 impressions<br \/>\npar annonces en ligne et imprim\u00e9es<br \/>\net il y a eu plus de 696 046 268<br \/>\nimpressions par activit\u00e9 de relations<br \/>\nm\u00e9diatiques gagn\u00e9es.<\/p>\n<p>\u2022 Il y a eu une augmentation du<br \/>\nclavardage sur les m\u00e9dias sociaux, y<br \/>\ncompris une augmentation de 51 %<br \/>\nde \u00ab suiveurs \u00bb sur Twitter, de 23 %<br \/>\nde \u00ab j\u2019aime \u00bb sur Facebook et de<br \/>\n10 % de membres se joignant \u00e0 notre<br \/>\ngroupe LinkedIn.<\/p>\n<p>Tous ces chiffres donnent un excellent<br \/>\nbilan pour l\u2019ann\u00e9e. De plus, en ce qui a<br \/>\ntrait \u00e0 notre Plan strat\u00e9gique, nous avons<br \/>\nachev\u00e9 plusieurs grandes r\u00e9alisations<br \/>\ndans chacun de nos domaines de<br \/>\nr\u00e9sultats cl\u00e9s.<\/p>\n<p>Premi\u00e8rement, en ce qui concerne<br \/>\nle pilier de D\u00e9fense et promotion au<br \/>\nnom des membres, le Sous-comit\u00e9 de<br \/>\nla d\u00e9fense des droits a \u00e9t\u00e9 mis sur<br \/>\npied en 2015. Ce nouveau comit\u00e9<br \/>\nconsiste en un repr\u00e9sentant de chaque<br \/>\naffili\u00e9e provinciale travaillant avec les<br \/>\nrepr\u00e9sentants nationaux \u00e0 identifier et<br \/>\naborder les enjeux de politique cl\u00e9s<br \/>\nau pays. <\/p>\n<p>Depuis sa cr\u00e9ation, plusieurs<br \/>\nrencontres nationales ont eu lieu<br \/>\navec les principales banques et les<br \/>\nsoci\u00e9t\u00e9s de gestion d\u2019\u00e9valuation afin de <\/p>\n<p>\u00ab NOTRE CROISSANCE, NOS PARTENARIATS,<br \/>\nNOTRE VISIBILIT\u00c9 ET NOTRE PROFIL NOUS ONT  <\/p>\n<p>OUVERT DE NOUVEAUX HORIZONS. \u00bb<\/p>\n<p>Canadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201610 Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>http:\/\/www.AICanada.ca<br \/>\nhttp:\/\/www.AICanada.ca<\/p>\n<p>LE COIN DE L\u2019EX\u00c9CUTIF<\/p>\n<p>discuter des honoraires d\u2019\u00e9valuation<br \/>\net des d\u00e9lais de production, ainsi<br \/>\nque des rencontres provinciales<br \/>\navec les conseils de l\u2019immobilier, les<br \/>\ngouvernements provinciaux et les<br \/>\nbureaux d\u2019enregistrement afin de discuter<br \/>\nde l\u2019accessibilit\u00e9 des donn\u00e9es. Le bureau<br \/>\nnational a aussi approch\u00e9 les nouveaux<br \/>\nd\u00e9put\u00e9s et rencontr\u00e9 les conseillers<br \/>\npolitiques et les bureaucrates au sujet des<br \/>\npolitiques en mati\u00e8re de logement et<br \/>\nde financement.<\/p>\n<p>Deuxi\u00e8mement, au chapitre du pilier<br \/>\nDiversification de la proposition de valeur<br \/>\ndes \u00e9valuateurs professionnels, l\u2019ICE a<br \/>\nadopt\u00e9 plusieurs mesures visant \u00e0 fournir<br \/>\n\u00e0 nos membres de nouvelles occasions de<br \/>\ndiversifier leur pratique. Ainsi, un nouvel<br \/>\nensemble de normes a \u00e9t\u00e9 ins\u00e9r\u00e9 dans les<br \/>\nnouvelles Normes uniformes de pratique<br \/>\nprofessionnelle en mati\u00e8re d\u2019 \u00e9valuation au<br \/>\nCanada (NUPEC) 2016 afin de faciliter<br \/>\n\u00e0 nos membres la possibilit\u00e9 d\u2019\u00e9valuer<br \/>\nla machinerie et l\u2019\u00e9quipement; l\u2019ICE a<br \/>\naussi cr\u00e9\u00e9 un nouveau cours menant \u00e0<br \/>\nl\u2019accr\u00e9ditation des CRA \u2013 BUSI352 \u2013<br \/>\nqui donne plus de d\u00e9tails aux CRA en<br \/>\nmati\u00e8re d\u2019examens d\u2019\u00e9valuation, litiges,<br \/>\nexpropriations et plus encore. <\/p>\n<p>L\u2019ICE a aussi tenu des rencontres avec<br \/>\ndes associations d\u2019\u00e9valuation compatibles<br \/>\ntelles l\u2019Appraisal Institute, le Groupe<br \/>\neurop\u00e9en des associations d\u2019\u00e9valuateurs<br \/>\n(TEGOVA), l\u2019International Association<br \/>\nof Assessing Officers (IAAO), l\u2019Ordre<br \/>\ndes \u00e9valuateurs\u00a0agr\u00e9\u00e9s du Qu\u00e9bec, et<br \/>\nl\u2019International Valuation Standards <\/p>\n<p>Council (IVSC) pour donner \u00e0 nos<br \/>\nmembres les occasions nationales et<br \/>\ninternationales de se faire reconna\u00eetre<br \/>\ncomme professionnels de choix. <\/p>\n<p>L\u2019ICE a aussi fait des efforts concert\u00e9s<br \/>\npour \u00e9duquer ses membres au sujet des<br \/>\noccasions de diversifier leur pratique<br \/>\nau moyen de s\u00e9minaires de PPC, du<br \/>\nprogramme du congr\u00e8s de 2015 et<br \/>\nd\u2019articles dans la revue \u00c9valuation<br \/>\nimmobili\u00e8re au Canada (EIC). <\/p>\n<p>Ensuite, en ce qui touche le pilier<br \/>\nReconnaissance des membres de l\u2019ICE<br \/>\ncomme professionnels de choix, des<br \/>\nmillions d\u2019impressions ont \u00e9t\u00e9 gagn\u00e9es<br \/>\npar annonces, m\u00e9dias sociaux, relations<br \/>\navec les m\u00e9dias qui continuent de<br \/>\nplacer les membres de l\u2019ICE parmi<br \/>\nles professionnels de choix en mati\u00e8re<br \/>\nd\u2019\u00e9valuation immobili\u00e8re au Canada.<br \/>\nDe nouvelles annonces ont \u00e9t\u00e9 con\u00e7ues<br \/>\ndans le but de cibler nos clients cl\u00e9s,<br \/>\ny compris les courtiers en hypoth\u00e8ques,<br \/>\ncourtiers en immeubles, avocats,<br \/>\nconseillers financiers, propri\u00e9taires de<br \/>\ncondominium et gouvernements. <\/p>\n<p>Toutes ces annonces visent \u00e0<br \/>\norienter le trafic vers le site Web de<br \/>\nl\u2019ICE, qui continue de conna\u00eetre une<br \/>\nforte croissance, notamment l\u2019outil de<br \/>\nrecherche en ligne Trouver un \u00e9valuateur.<br \/>\nL\u2019ICE a aussi fait la promotion de ses<br \/>\nmembres \u00e0 divers \u00e9v\u00e9nements, y compris<br \/>\nle CAAMP Fraud Summit et Congr\u00e8s<br \/>\nnational de 2015, le Toronto Real<br \/>\nEstate Forum et la Credit Union<br \/>\nProfessionals Association.<\/p>\n<p>Enfin, au pilier des membres<br \/>\ndynamiques et impliqu\u00e9s, l\u2019ICE s\u2019est efforc\u00e9<br \/>\nconstamment de fournir un meilleur<br \/>\nservice \u00e0 ses membres. Il a produit un<br \/>\nGuide du stagiaire afin de guider les<br \/>\nnouveaux stagiaires dans le processus<br \/>\nd\u2019obtention d\u2019une d\u00e9signation; il tient<br \/>\ndes webinaires accessibles tant pour les<br \/>\ns\u00e9minaires de pratique professionnelle que<br \/>\npour les occasions de perfectionnement<br \/>\nprofessionnel continu; et il a mis \u00e0 jour les<br \/>\n10 accords d\u2019affiliation avec les  provinces<br \/>\nafin d\u2019assurer un service sans couture et de<br \/>\npremier ordre \u00e0 ses membres. <\/p>\n<p>Un programme d\u2019\u00e9tudes en fran\u00e7ais<br \/>\na \u00e9t\u00e9 mis en \u0153uvre en partenariat<br \/>\navec l\u2019Universit\u00e9 Laval et un nouveau<br \/>\nprogramme de prix \u2013 le Prix d\u2019\u00e9valuateur<br \/>\npar excellence de moins de 40 ans \u2013 a<br \/>\naussi \u00e9t\u00e9 cr\u00e9\u00e9 pour engager les membres<br \/>\nplus jeunes dans la profession.<\/p>\n<p>Dans l\u2019ensemble, l\u2019ICE continue<br \/>\nde faire avancer le dossier cherchant \u00e0<br \/>\nmultiplier les occasions de ses membres<br \/>\n\u00e0 r\u00e9ussir en s\u2019effor\u00e7ant d\u2019aborder et de<br \/>\nr\u00e9soudre les obstacles qui se dressent<br \/>\ndevant nos membres. Au cours de<br \/>\nla derni\u00e8re ann\u00e9e, notre esprit de<br \/>\ncollaboration, notre ferme conviction<br \/>\ndans la justesse de nos normes<br \/>\nprofessionnelles et de notre processus<br \/>\nde d\u00e9signation et notre capacit\u00e9<br \/>\nd\u2019\u00eatre agiles nous ont permis d\u2019agir<br \/>\nstrat\u00e9giquement au nom de nos membres.<br \/>\nNous sommes confiants que 2016<br \/>\ncontinuera de repousser les limites de nos<br \/>\nnouveaux horizons. <\/p>\n<p>\u00ab DES MILLIONS D\u2019IMPRESSIONS ONT \u00c9T\u00c9 GAGN\u00c9ES PAR ANNONCES,<br \/>\nM\u00c9DIAS SOCIAUX, RELATIONS AVEC LES M\u00c9DIAS QUI CONTINUENT DE PLACER  <\/p>\n<p>LES MEMBRES DE L\u2019ICE PARMI LES PROFESSIONNELS DE CHOIX EN MATI\u00c8RE<br \/>\nD\u2019\u00c9VALUATION IMMOBILI\u00c8RE AU CANADA. \u00bb<\/p>\n<p>\u00ab L\u2019ICE CONTINUE  DE FAIRE AVANCER LE DOSSIER CHERCHANT \u00c0 MULTIPLIER LES<br \/>\nOCCASIONS DE SES MEMBRES \u00c0 R\u00c9USSIR. \u00bb<\/p>\n<p>Volume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 11Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>Introduction<br \/>\nIn 2007, Altus Group undertook a study<br \/>\nof injurious affection (loss in value to<br \/>\nthe remainder of property after takings<br \/>\nby expropriation) related to the Bruce<br \/>\nto Milton 500-kV transmission line<br \/>\nreinforcement in Ontario. That study<br \/>\nconcluded that there was only nominal<br \/>\nproperty value loss to properties. In<br \/>\n2011, Altus again undertook a study<br \/>\nto confirm, revise, or deny the original<br \/>\nhypothesis of injurious affection. A team<br \/>\nof four appraisers and two staff analysts<br \/>\nwas involved in the wide-ranging study,<br \/>\nwhich involved more than 70 properties<br \/>\non four electricity transmission corridors <\/p>\n<p>in Ontario. The results of this study were<br \/>\ntested in a series of arbitration hearings in<br \/>\n2013 with considerable success.<\/p>\n<p>Negative or positive? A review of<br \/>\nthe literature and case law<br \/>\nThe potential for negative impact<br \/>\non property value by high voltage<br \/>\ntransmission lines (HVTL) has been<br \/>\ndebated by real estate appraisers,<br \/>\nenvironmental engineers and lawyers,<br \/>\nand is frequently the subject of legal<br \/>\naction before the courts and judicial<br \/>\ntribunals. Concurrent to our analysis of<br \/>\nactual properties, we conducted a review<br \/>\nof the literature, specifically on the terms <\/p>\n<p>\u2018paired sales analysis\u2019 and \u2018multiple<br \/>\nregression analysis.\u2019 <\/p>\n<p>Paired sales analysis is defined as the<br \/>\ntechnique of selecting data for property<br \/>\nsales affected by the presence of HVTL,<br \/>\nas well as sales of similar properties not<br \/>\naffected, and measuring the variance in<br \/>\nselling prices between the paired data.<br \/>\nThe goal is to find the effect on value of<br \/>\none particular attribute. We found little<br \/>\npublished material that used paired sales<br \/>\nanalysis to determine any impairment<br \/>\nof property value attributable to the<br \/>\npresence of HVTL.<\/p>\n<p>Multiple regression analysis, in<br \/>\nwhich a number of property sales are <\/p>\n<p>By Daniel Doucet, AACI, P.App; Norris Wilson, BA, AACI, P.App;<br \/>\nPaul D. Bender, MRICS, ASA, AACI, P.App<\/p>\n<p>INJURIOUS AFFECTION<br \/>\nand HVTL corridors:<br \/>\na study of quantification of value loss<br \/>\nrelated to expropriation<\/p>\n<p>Canadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201612 Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>studied against sales in a \u2018control\u2019 area<br \/>\nand analyzed and tested against specific<br \/>\nvariables for statistical significance, is<br \/>\ncriticized by some as unhelpful due to<br \/>\nthe heterogeneous nature of real estate.<\/p>\n<p>Our review revealed the opinions<br \/>\nthat, because so many factors affect<br \/>\nproperty value, the influence of HVTL<br \/>\nmay play only a minor role. Accordingly,<br \/>\nresults from both statistical and<br \/>\nmathematical analysis are inconsistent.<br \/>\nSeveral important issues surfaced in the<br \/>\nliterature including the nature of the<br \/>\npath of the HVTL through a property<br \/>\nresulting in severance damages; the size<br \/>\nof the affected properties which could <\/p>\n<p>mean closer proximity to the lines;<br \/>\nvisual impairment due to presence of the<br \/>\ncorridor and associated infrastructure;<br \/>\nand, conversely, the view that the<br \/>\nwide open space created by the HVTL<br \/>\ncorridor could positively affect property<br \/>\nvalue (though this was likely only to<br \/>\noccur for urban or suburban properties).<\/p>\n<p>The results from analysis of the market<br \/>\nremain contested by various researchers<br \/>\nand authors, but there is agreement that<br \/>\nthe specific path of an HVTL corridor,<br \/>\nits proximity to improvements and<br \/>\neffect on view, are important concepts in<br \/>\ndetermining the overall effect of HVTL on<br \/>\nproperty value.<\/p>\n<p>We also conducted a review of land<br \/>\ncompensation reports, to determine the<br \/>\ndegree of success landowners have had in<br \/>\nclaiming compensation for property value<br \/>\nloss attributable to HVTL. Owners had<br \/>\nsome success claiming for a negative effect<br \/>\non homes and farming operations, but<br \/>\nless so on vacant and unimproved land.<br \/>\nHVTL infrastructure can have a negative<br \/>\nimpact on farm operations, but there is no<br \/>\nevidence to support a claim that an HVTL<br \/>\ncan render a farm business uneconomic;<br \/>\nany loss of value on the remaining lands is<br \/>\nnominal at less than 5%.<\/p>\n<p>It is important to discuss the<br \/>\nperception that electromagnetic fields <\/p>\n<p>Volume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 13Click HERE to return to<br \/>\nTABLE OF CONTENTS<\/p>\n<p>(EMFs) may have an effect on human<br \/>\nand animal health, as a factor in<br \/>\nperceptions of value. Health Canada<br \/>\nhas studied this issue and determined<br \/>\nthat there is no conclusive evidence<br \/>\nof harm resulting from exposure to<br \/>\nEMF, including in locations outside<br \/>\nthe boundaries of power line corridors.<br \/>\nRegardless, the fear of health effects can<br \/>\nhave an effect on the behaviour of market<br \/>\nparticipants and remains one of a set of<br \/>\nfactors that may impact property values.<\/p>\n<p>Stakeholder interviews were another<br \/>\npart of our review. We conducted<br \/>\ninterviews with real estate professionals<br \/>\n\u2014 eight brokers and five appraisers.<br \/>\nTheir opinion was that mid or diagonal<br \/>\nline crossings had a greater effect<br \/>\non value than other types, and that<br \/>\nproximity was an important factor for<br \/>\nrural residential properties. Impact<br \/>\nwas estimated at 10-20% by the<br \/>\nbrokers, who also said that marketing<br \/>\ntime for an affected property could<br \/>\nbe twice normal. Appraisers said they<br \/>\ntypically adjust downward by 3-5 % for<br \/>\nresidential properties adjacent to HVTL<br \/>\ninfrastructure. Perception of property<br \/>\nvalue loss appears to be qualitative<br \/>\nwithout direct market support.<\/p>\n<p>A study of 10 years of data<br \/>\nIn order to thoroughly study the<br \/>\nrelationship between HVTL and property<br \/>\nvalue, we determined that the paired sales<br \/>\nanalysis approach was appropriate. We<br \/>\nidentified property sales occurring within<br \/>\nthe previous 10 years, where the properties<br \/>\nwere traversed by or abutting a high<br \/>\nvoltage transmission line. We adjusted for<br \/>\ndifferences such as date of sale, the nature<br \/>\nand age of any improvements, quality and<br \/>\ncharacteristics of the land (e.g., wooded<br \/>\nversus arable), and the parcel size. This<br \/>\nprocess served to improve the comparability<br \/>\nof properties not near the HVTL to the<br \/>\nsubject properties, so that the remaining<br \/>\ndifferences in value could clearly be<br \/>\nattributed to the effect of the power line.<\/p>\n<p>Four transmission lines in Ontario<br \/>\nwere studied: Bruce to Milton;<br \/>\nDarlington to Lennox; Lennox to<br \/>\nOttawa; and South Georgian Bay. In all,<br \/>\n77 sales of properties near the lines were<br \/>\nidentified. Transaction data was obtained<br \/>\nfrom GeoWarehouse\u00ae and information<br \/>\non property class and improvements was<br \/>\nfrom the Municipal Property Assessment<br \/>\nCorporation (MPAC). No transactions<br \/>\ninvolved the expropriating authority.<\/p>\n<p>For each \u2018on line\u2019 (i.e., on the<br \/>\ntransmission line) sale, a search was<br \/>\ncompleted in the township using MPAC<br \/>\npropertyline\u2122 for sales of similar type,<br \/>\nusing a date range of about 18 months<br \/>\nbefore and after date of sale of the<br \/>\nsubject. This search was also refined to<br \/>\nplus or minus $200,000 of the subject<br \/>\nsale price. The sales identified were<br \/>\nfurther researched on GeoWarehouse<br \/>\nto confirm details and names of the<br \/>\nparties; each was plotted on maps<br \/>\ndepicting soil type and zoning, where<br \/>\nappropriate. MPAC property reports<br \/>\nprovided details on the type, size and age<br \/>\nof improvements.<\/p>\n<p>Only the properties sold that possessed<br \/>\nattributes similar to the subjects were<br \/>\nanalyzed; between one and six pairings<br \/>\nwere analyzed for a total of 210 properties<br \/>\noff the transmission line corridors.<\/p>\n<p>Results by line<br \/>\nThe results differed slightly for each<br \/>\ntransmission corridor: for Bruce to<br \/>\nMilton, impact on property value<br \/>\ndropped rapidly with distance and was<br \/>\nin the range of 0 to 5 % at 1,000 feet;<br \/>\nDarlington to Lennox was similar with<br \/>\nnominal impact defined as (<5%) at about \n1,500 feet; Lennox to Ottawa and South \nGeorgian Bay demonstrated a similar \npattern, but the results were based on \nfewer data points.\n\nFor situations of multiple lines, data \nshowed the same inverse relationship \nbetween property value loss and distance, \nwhich was particularly significant as \n\nThe specific path of an HVTL corridor, its proximity to \nimprovements and effect on view, are important concepts in \ndetermining the overall effect of HVTL on property value. \n\nmost of the properties studied were \naffected by two crossings, side by side. \nThe value impact is not different from \nsingle line crossings: this suggests that \nimpacts may not be cumulative. All the \nlines studied were built in the 1980s, \nwhich also suggests that time is a factor \nin the market perception of value.\n\nImpacts by property type\nRural residential \u2013 pairings for \nthis property type demonstrated \nthe greatest negative impact. The \nproperties are smaller (less than 20 \nacres), so improvements are closer \nto the transmission lines. Variances \nwere attributed to screening, tower \nlocation, and actual distance from the \nline. On the positive side (for urban, \nsuburban properties), the lines provide a \ngreen space.\n\nVacant land \u2013 three categories were \nanalyzed: agricultural; potential house \nsites; and \u2018Whitebelt\u2019 land (future \nresidential development). Results showed \nthat in urban\/suburban areas, vacant \nindustrial lands (Bruce to Milton line) \nwere least affected by HVTL. Land \ndevelopers interviewed did not see a \ntransmission line as an impediment to \nvalue when the holding period was long, \nsuch as 15 to 20 years.\n\nIn rural areas, the analysis showed \nthat vacant agricultural land was the \nleast affected by HVTL, while vacant \npotential rural residential land and \nrural residential properties were the \nmost vulnerable, due to short separation \ndistances. Whitebelt land seemed not to \nbe affected.\n\nImpact by crossing type\nFive crossing types exist: side or edge \nclipping; diagonal; mid; rear; and side. \nFor our study, only diagonal and rear \ncrossings presented enough subjects for a \nuseful sample. Our hypothesis was that \na diagonal crossing would have more \nimpact on value than a rear crossing.\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201614 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nThe analysis confirmed that the \nimpact of a rear crossing becomes \nnominal at a lesser distance (1,100 feet) \nthan for a diagonal crossing (2,000 feet). \nAt 500 feet, the diagonal line can result \nin a value loss, which is 30 % higher \nthan for a rear crossing. Data was limited \nfor other crossing types, but it appears \nthe mid crossings have less impact than \ndiagonal, while side, edge and clipping \ncrossings are similar to rear crossings in \nvalue impact.\n\nConclusions\nFollowing a detailed analysis, the \nconclusion is that there is a close \nrelationship between separation and \ninjurious affection. The impact is mainly \non properties with improvements, and \nthe value loss is averaged down in larger \nland holdings. There was seen to be only \nnominal injurious affection or loss of \nvalue on acreage properties, vacant or \nimproved, as a result of the proposed \nsecond 500kV transmission line.\n\nIn addition, we concluded that: \ndifferent types of crossings of the \n\nHVTL corridor can impact the utility \nof a property, to different degrees; \nHVTL placement can affect efficiency \nof farming operations where lines \nrun across farmed areas; the market \nhas a negative view on HVTLs in \nclose proximity to improvements for \nrural residential and hobby farms; \nand transmission lines can be a visual \nintrusion on a property diminishing \n\nthe owner\u2019s enjoyment of the property. \nHowever, in the case of residential \nproperties in urban or suburban areas, \nthe green space of the lines can be seen as \na positive factor on value.\n\nBased on the data analyzed, we \nconclude that injurious affection ranges \nbetween a high of 25% for properties \nrelatively close to the transmission \nlines, to a nominal range averaging \n3.47% at a distance ranging from \n1,000 to 2,000 feet, and 3.1% for \nproperties at a distance of 2,000 feet  \nor more.\n\nAs for the approach for valuation for \ninjurious affection from HVTL, it is \nevident that a case-by-case evaluation is \nrequired to ascertain the specific impact of \nHVTL on value. The results of statistical \nanalysis are inconclusive; therefore, \na broadly based property analysis is \nmore useful than simply applying a \nmathematically derived factor.\n\nThe authors are all Senior Directors in the \nResearch, Valuation and Advisory division \nof Altus Group. www.altusgroup.com  \n\nKey variables in HVTL \ninjurious affection\n\nSeparation distance\nProperty type\nCrossing type\n\nLocation\nPhysical features (e.g., size, \n\ntopography, presence of \nscreening)\n\nAltus Group\n\nThe Personal refers to The Personal Insurance Company.  Certain conditions, limitations and \nexclusions may apply. Savings and discounts are subject to eligibility conditions, may vary \nby jurisdiction and may not apply to all optional coverages. The terms and conditions of the \ncoverages described are set out in the insurance policy, which always prevails. Auto Insurance \nis not available in Manitoba, Saskatchewan and British Columbia due to government-run plans. \n\nLa Personnelle d\u00e9signe La Personnelle, compagnie d\u2019assurances. Certaines conditions, exclusions \net limitations peuvent s\u2019appliquer. Les \u00e9conomies et les rabais sont sous r\u00e9serve des conditions \nd\u2019admissibilit\u00e9, peuvent varier selon la province ou le territoire et peuvent ne pas s\u2019appliquer \u00e0 toutes \nles protections optionnelles. Les clauses et modalit\u00e9s relatives aux protections d\u00e9crites sont pr\u00e9cis\u00e9es \nau contrat d\u2019assurance, lequel pr\u00e9vaut en tout temps. L\u2019assurance auto n\u2019est pas offerte au Manitoba, \nen Saskatchewan ni en Colombie-Britannique, o\u00f9 il existe des r\u00e9gimes d\u2019assurance gouvernementaux.\n\nThe right fit. La bonne combinaison.\n\n1-888-476-8737\nthepersonal.com\/aicanada\n\nGet a quote and compare\n\n1 888 476-8737\nlapersonnelle.com\/aicanada\n\nDemandez une soumission et comparez\n\nThe Personal   \nAppraisal Institute  \nof Canada     \nthe right fit for your \nhome and auto \ninsurance needs\n\nLa Personnelle   \nInstitut canadien  \ndes \u00e9valuateurs  \nla bonne combinaison \npour vos besoins en \nassurances auto et \nhabitation\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 15Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.altusgroup.com\nhttp:\/\/thepersonal.com\/aicanada\nhttp:\/\/lapersonnelle.com\/aicanada\n\n\nIntroduction\nEn 2007, le groupe Altus a entrepris une \n\u00e9tude des effets pr\u00e9judiciables (perte de \nvaleur du reste d\u2019une propri\u00e9t\u00e9 apr\u00e8s son \nd\u00e9coupage par expropriation) relatifs \u00e0 \nla ligne de transmission de renforcement \nde 500 kV entre Bruce et Milton, en \nOntario. Cette \u00e9tude a conclu que les \npropri\u00e9t\u00e9s concern\u00e9es n\u2019avaient subi \nqu\u2019une perte de valeur nominale. En \n2011, Altus entreprit encore une fois \nune \u00e9tude pour confirmer, modifier ou \nr\u00e9futer l\u2019hypoth\u00e8se originale en mati\u00e8re \nd'effet pr\u00e9judiciable. Une \u00e9quipe de quatre \n\u00e9valuateurs et de deux analystes membres \ndu personnel fut constitu\u00e9e pour mener \n\nune vaste \u00e9tude  portant sur plus de 70 \npropri\u00e9t\u00e9s le long de quatre corridors de \ntransmission d\u2019\u00e9lectricit\u00e9 en Ontario. \nLes r\u00e9sultats de cette \u00e9tude furent mis \n\u00e0 l\u2019\u00e9preuve dans le cadre d\u2019une s\u00e9rie \nd\u2019audiences d\u2019arbitrage en 2013 et ont \nconnu un succ\u00e8s consid\u00e9rable.\n\nBilan n\u00e9gatif ou positif?  \nUne revue de la litt\u00e9rature et  \nde la jurisprudence \nLa possibilit\u00e9 de l\u2019incidence n\u00e9gative sur \nla valeur d\u2019une propri\u00e9t\u00e9 que peuvent \navoir des lignes de transmission de \nhaute tension (LTHT) a fait l\u2019objet d\u2019un \nd\u00e9bat chez les \u00e9valuateurs immobiliers, \n\nles ing\u00e9nieurs en  environnement et les \navocats et fait souvent l\u2019objet de poursuites \nen cour et devant les tribunaux. \nParall\u00e8lement \u00e0 notre analyse de \npropri\u00e9t\u00e9s concr\u00e8tes, nous avons proc\u00e9d\u00e9 \n\u00e0 une revue de la litt\u00e9rature portant \nsp\u00e9cifiquement sur les termes \u00ab analyse \ndes ventes appari\u00e9es \u00bb et \u00ab  analyse de \nr\u00e9gression multiple \u00bb. \n\nOn d\u00e9finit l\u2019analyse des ventes \nappari\u00e9es comme la technique consistant \n\u00e0 s\u00e9lectionner des donn\u00e9es sur les ventes \nde propri\u00e9t\u00e9s affect\u00e9es par la pr\u00e9sence \nd\u2019une LTHT, ainsi que les ventes de \npropri\u00e9t\u00e9s semblables non affect\u00e9es, et \u00e0 \nmesurer la variance des prix de vente entre \n\nL'EFFET \nPR\u00c9JUDICIABLE et  \ncorridors de LTHT : \nune \u00e9tude de quantification \nde la perte de valeur li\u00e9e \u00e0 \nl\u2019expropriation\nPar Daniel Doucet, AACI, P.App; Norris Wilson, BA, AACI, P.App; \nPaul D. Bender, MRICS, ASA, AACI, P.App\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201616 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\ndonn\u00e9es appari\u00e9es. Cette technique vise \u00e0 \nd\u00e9gager l\u2019effet sur la valeur d\u2019un attribut \ndonn\u00e9. Nous avons trouv\u00e9 tr\u00e8s peu de \ndocumentation publi\u00e9e ayant eu recours \u00e0 \nl\u2019analyse des ventes appari\u00e9es pour d\u00e9terminer \ntoute perte de valeur d\u2019une propri\u00e9t\u00e9 \nattribuable \u00e0 la pr\u00e9sence d\u2019une LTHT.\n\nL\u2019analyse de r\u00e9gression multiple, par \nlaquelle un certain nombre de ventes de \npropri\u00e9t\u00e9 sont \u00e9tudi\u00e9es en comparaison \ndes ventes dans une zone \u201ct\u00e9moin\u201d \net dont la signification statistique est \nanalys\u00e9e et test\u00e9e par rapport \u00e0 des \nvariables, est d\u00e9nonc\u00e9e par certains \ncomme inutile \u00e0 cause de la nature \nh\u00e9t\u00e9rog\u00e8ne de l\u2019immobilier.\n\nNotre revue a r\u00e9v\u00e9l\u00e9 les opinions que, \n\u00e9tant donn\u00e9 que tellement de facteurs \naffectent la valeur d\u2019une propri\u00e9t\u00e9, \nl\u2019influence d\u2019une LTHT peut ne jouer \nqu\u2019un r\u00f4le mineur. Par cons\u00e9quent, les \nr\u00e9sultats d\u2019une analyse\u00a0tant statistique \nque math\u00e9matique sont erratiques. \nPlusieurs importantes questions ont fait \nsurface dans la litt\u00e9rature consult\u00e9e, \ny compris la nature du parcours de \nla LTHT traversant une propri\u00e9t\u00e9 \nentra\u00eenant des dommages r\u00e9sultants \nde la s\u00e9paration; la taille des propri\u00e9t\u00e9s \naffect\u00e9es qui pourrait dicter la proximit\u00e9 \naux lignes; la d\u00e9gradation visuelle \ncaus\u00e9e par la pr\u00e9sence du corridor et de \n\nl\u2019infrastructure associ\u00e9e; et, inversement, \nl\u2019opinion que le grand espace ouvert cr\u00e9e \npar le corridor LTHT pourrait avoir \nune incidence positive sur la valeur de la \npropri\u00e9t\u00e9 (bien que ce facteur ne serait \nd\u00e9terminant que pour les propri\u00e9t\u00e9s \nurbaines ou suburbaines).\n\nDivers chercheurs et auteurs \ncontinuent de contester les r\u00e9sultats \nde l\u2019analyse du march\u00e9, mais tous sont \nd\u2019accord que le parcours sp\u00e9cifique \nd\u2019un corridor  LTHT, sa proximit\u00e9 \ndes am\u00e9nagements et son effet sur le \npanorama sont des notions importantes \ndans la d\u00e9termination de l\u2019effet global \nd\u2019une LTHT sur la valeur d\u2019une propri\u00e9t\u00e9.  \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 17Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nNous avons aussi effectu\u00e9 une revue \ndes rapports d\u2019indemnisation fonci\u00e8re \nafin de d\u00e9terminer le degr\u00e9 de succ\u00e8s \nqu\u2019ont connu les propri\u00e9taires fonciers \nr\u00e9clamant une indemnisation pour perte \nde valeur de leur propri\u00e9t\u00e9 attribuable \u00e0 \nune LTHT. Les propri\u00e9taires ont connu \nun certain succ\u00e8s en faisant valoir l\u2019effet \nn\u00e9gatif sur leurs maisons et exploitations \nagricoles, mais moins de succ\u00e8s en ce \nqui touche les terrains vacants et non \nam\u00e9lior\u00e9s. L\u2019infrastructure d\u2019une LTHT \npeut avoir des r\u00e9percussions n\u00e9gatives \nsur les exploitations agricoles, mais \naucune preuve n\u2019existe pour appuyer une \nrevendication voulant qu\u2019une  LTHT \npuisse rendre une entreprise agricole \nnon rentable; toute perte de valeur des \nterres restantes est nominale, se situant  \u00e0 \nmoins de 5 %.\n\nIl est important d\u2019aborder \nla perception que les champs \n\u00e9lectromagn\u00e9tiques (CEM) peuvent avoir \nun effet sur la sant\u00e9 des humains et des \nanimaux, comme un facteur dans les \nperceptions de valeur d\u2019une propri\u00e9t\u00e9. \nSant\u00e9 Canada a \u00e9tudi\u00e9 cette affaire \net a d\u00e9termin\u00e9 qu\u2019il n\u2019existe aucune \npreuve concluante de tort r\u00e9sultant de \nl\u2019exposition \u00e0 un CEM, y compris les \nemplacements \u00e0 l\u2019ext\u00e9rieur des limites \nd\u2019un corridor de ligne de transmission. \nQuoi qu\u2019il en soit, la peur d\u2019effets nocifs \nsur la sant\u00e9 peut avoir un effet sur le \ncomportement des participants au \nmarch\u00e9 et demeure l\u2019un des ensembles \nde facteurs qui peuvent affecter la \nvaleur des propri\u00e9t\u00e9s.\n\nUne autre partie de notre revue \na consist\u00e9 \u00e0 interviewer des parties \nint\u00e9ress\u00e9es. Nous avons men\u00e9 des \nentrevues aupr\u00e8s de professionnels de \nl\u2019immobilier  \u2014 huit courtiers et cinq \n\n\u00e9valuateurs. Leur opinion \u00e9tait qu\u2019une \ntravers\u00e9e au milieu ou en diagonale avait \nun plus grand effet sur la valeur que \nles autres types d\u2019empi\u00e8tement et que \nla proximit\u00e9 \u00e9tait un facteur important \npour les propri\u00e9t\u00e9s r\u00e9sidentielles rurales. \nL\u2019impact a \u00e9t\u00e9 estim\u00e9 \u00e0  10-20 % par les \ncourtiers qui ont d\u00e9clar\u00e9 \u00e9galement que \nla dur\u00e9e de marketing d\u2019une propri\u00e9t\u00e9 \naffect\u00e9e pourrait \u00eatre le double de la \nnormale. Les \u00e9valuateurs ont indiqu\u00e9 \nqu\u2019ils rajustent normalement de \n3-5  % vers le bas pour les propri\u00e9t\u00e9s \nr\u00e9sidentielles adjacentes \u00e0 une \ninfrastructure de LTHT. La perception \nde la perte de valeur d\u2019une propri\u00e9t\u00e9 \nsemble \u00eatre qualitative sans appui direct \ndu march\u00e9.\n\nUne \u00e9tude de 10 ans de donn\u00e9es\nAfin d\u2019\u00e9tudier \u00e0 fond la relation entre la \nLTHT et la valeur d\u2019une propri\u00e9t\u00e9, nous \navons d\u00e9cid\u00e9 que l\u2019approche par analyse \ndes ventes appari\u00e9es \u00e9tait pertinente. Nous \navons relev\u00e9 les ventes survenues dans les \n10 ann\u00e9es pr\u00e9c\u00e9dentes de propri\u00e9t\u00e9s qui \n\u00e9taient travers\u00e9es ou long\u00e9es par une ligne \nde transmission de haute tension. Nous \navons rajust\u00e9 en fonction de diff\u00e9rences \ntelles la date de la vente, la nature et \nl\u2019\u00e2ge des am\u00e9liorations, la qualit\u00e9 et les \ncaract\u00e9ristiques du sol (bois\u00e9 ou arable) et \nla taille de la parcelle. Ce processus a servi \n\u00e0 am\u00e9liorer la comparabilit\u00e9 des propri\u00e9t\u00e9s \nnon voisines d\u2019une LTHT avec les \npropri\u00e9t\u00e9s en objet de mani\u00e8re \u00e0 ce que les \ndiff\u00e9rences de valeurs restantes puissent \n\u00eatre clairement attribu\u00e9es \u00e0 la pr\u00e9sence de \nla ligne de transmission.\n\nQuatre lignes de transmission en \nOntario ont \u00e9t\u00e9 \u00e9tudi\u00e9es : de Bruce \n\u00e0 Milton; de Darlington \u00e0 Lennox; \nde Lennox \u00e0 Ottawa; et au su de la \n\nbaie Georgienne. En tout, 77 ventes \nde propri\u00e9t\u00e9 pr\u00e8s de ces lignes ont \n\u00e9t\u00e9 identifi\u00e9es. Les donn\u00e9es de \ntransaction furent obtenues de \nGeoWarehouse\u00ae et les renseignements \nsur la classe de propri\u00e9t\u00e9 et ses \nam\u00e9liorations furent obtenus de la \nSoci\u00e9t\u00e9 d\u2019\u00e9valuation\u00a0fonci\u00e8re des \nmunicipalit\u00e9s\u00a0(SEFM). Aucune  \nde ces transactions n\u2019impliquait \nl\u2019autorit\u00e9 expropriante.\n\nPour chaque vente \u2018en ligne\u2019 (c.-\u00e0-d., \nsur la ligne de transmission), nous avons \neffectu\u00e9 une recherche dans le canton au \nmoyen de propertyline\u2122 de la SEFM afin \nde trouver des ventes de type similaire, \nen limitant la plage de dates \u00e0 environ 18 \nmois avant et apr\u00e8s la date de la vente de \nla propri\u00e9t\u00e9 en objet. Cette recherche fut \naussi raffin\u00e9e \u00e0 plus ou moins 200 000 $ \ndu prix de ventes de la propri\u00e9t\u00e9 en objet.   \nLes ventes ainsi d\u00e9gag\u00e9es furent ensuite \ndocument\u00e9es sur GeoWarehouse afin \nde confirmer les d\u00e9tails et les noms des \nparties; chacune fut rep\u00e9r\u00e9e sur des cartes \nd\u00e9crivant le type de sol et le zonage, le \ncas \u00e9ch\u00e9ant. Les rapports de propri\u00e9t\u00e9 \nde la SEFM fournirent des d\u00e9tails sur le \ntype, la taille et l\u2019\u00e2ge des am\u00e9liorations.\n\nSeules les propri\u00e9t\u00e9s vendues qui \nposs\u00e9daient des attributs semblables \n\u00e0 ceux des propri\u00e9t\u00e9s en objet furent \nanalys\u00e9es; entre un et six appariements \nfurent analys\u00e9s pour un total de 210 \npropri\u00e9t\u00e9s non voisines de corridors de \nligne de transmission.\n\nR\u00e9sultats par  \nligne de transmission\nLes r\u00e9sultats variaient l\u00e9g\u00e8rement pour \nchaque corridor de transmission : pour \ncelui de Bruce \u00e0 Milton, l\u2019incidence sur la \nvaleur de la propri\u00e9t\u00e9 chutait rapidement \n\nLe parcours sp\u00e9cifique d\u2019un corridor LTHT, sa \nproximit\u00e9 des am\u00e9nagements et son effet sur le \npanorama sont des notions importantes dans la \nd\u00e9termination de l\u2019effet global d\u2019une LTHT sur la \nvaleur d\u2019une propri\u00e9t\u00e9.\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201618 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\navec la distance, se situant entre 0 et 5 %  \n\u00e0 1 000 pieds; Darlington \u00e0 Lennox \u00e9tait \nsimilaire, l\u2019incidence nominale \u00e9tant \nd\u00e9finie comme (<5 %) \u00e0 environ 1 500 \npieds; Lennox-Ottawa et sud de la baie \nGeorgienne d\u00e9montraient un mod\u00e8le \nsimilaire, mais les r\u00e9sultats \u00e9taient bas\u00e9s \nsur moins de points de donn\u00e9es.\n\nPour les situations de lignes multiples, \nles donn\u00e9es ont montr\u00e9 la m\u00eame relation \ninverse entre la perte de valeur de la \npropri\u00e9t\u00e9 et sa distance de la ligne de \ntransmission, ce qui \u00e9tait d\u2019autant plus \nsignificatif parce que la plupart des \npropri\u00e9t\u00e9s \u00e9tudi\u00e9es \u00e9taient affect\u00e9es par \ndeux travers\u00e9es c\u00f4te \u00e0 c\u00f4te. L\u2019impact \nsur la valeur n\u2019est pas diff\u00e9rent des cas \nde travers\u00e9e unique : laissant supposer \nque les impacts ne sont peut-\u00eatre pas \ncumulatifs. Toutes les lignes \u00e9tudi\u00e9es \nfurent construites au cours des ann\u00e9es \n1980, ce qui sugg\u00e8re \u00e9galement que le \ntemps est un facteur dans la perception \nde valeur du march\u00e9.\n\nIncidences selon  \nle type de propri\u00e9t\u00e9\nPropri\u00e9t\u00e9 r\u00e9sidentielle rurale \u2013 les \nappariements pour ce type de propri\u00e9t\u00e9 \nont d\u00e9montr\u00e9 le plus fort impact n\u00e9gatif. \nLes propri\u00e9t\u00e9s sont plus petites (moins de \n20 acres), de sorte que les am\u00e9liorations \nsont plus pr\u00e8s des lignes de transmission. \nLes variances \u00e9taient attribu\u00e9es \u00e0 la \ndissimulation, l\u2019emplacement des tours \net \u00e0 la distance r\u00e9elle de la ligne. Sur le \nplan positif (pour les propri\u00e9t\u00e9s urbaines, \nsuburbaines), les lignes fournissent un \nespace vert.\n\nTerrain vacant \u2013 trois cat\u00e9gories ont \n\u00e9t\u00e9 analys\u00e9es : agricole, \u00e0 potentiel de \nconstruction r\u00e9sidentielle et terrain de  \n\u00ab ceinture blanche \u00bb (futur am\u00e9nagement \nr\u00e9sidentiel). Les r\u00e9sultats ont fait \nressortir que, dans les zones urbaines\/\nsuburbaines, les terrains industriels \nvacants (sur la ligne de Bruce \u00e0 Milton) \n\u00e9taient les moins affect\u00e9s par une LTHT. \nLes promoteurs immobiliers interview\u00e9s \nont d\u00e9clar\u00e9 ne pas vois une ligne de \ntransmission comme un obstacle \u00e0 la \nvaleur quand la p\u00e9riode de d\u00e9tention \n\u00e9tant longue, de 15 \u00e0 20 ans par exemple.\n\nDans les zones rurales, l\u2019analyse a \nmontr\u00e9 qu\u2019une terre agricole vacante \u00e9tait \nla moins affect\u00e9e par une LTHT, alors \nque les terrains \u00e0 potentiel r\u00e9sidentiel \n\nrural et les propri\u00e9t\u00e9s r\u00e9sidentielles \nrurales \u00e9taient les plus vuln\u00e9rables \u00e0 \ncause des courtes distances d\u2019espacement. \nLes terrains dans les ceintures blanches \nn\u2019\u00e9taient pas affect\u00e9s.\n\nIncidence selon  \nle type de travers\u00e9e\nIl existe cinq types de travers\u00e9es : accroc \nsur un c\u00f4t\u00e9 ou sur un bord; diagonale; au \nmilieu; \u00e0 l\u2019arri\u00e8re; sur le c\u00f4t\u00e9. Dans notre \n\u00e9tude, seules les travers\u00e9es en diagonale \net \u00e0 l\u2019arri\u00e8re pr\u00e9sentaient assez de cas \npour constituer un \u00e9chantillon utilisable. \nNotre hypoth\u00e8se \u00e9tait qu\u2019une travers\u00e9e \nen diagonale aurait plus d\u2019impact sur la \nvaleur qu\u2019une travers\u00e9e \u00e0 l\u2019arri\u00e8re.\n\nL\u2019analyse a confirm\u00e9 que l\u2019impact \nd\u2019une travers\u00e9e \u00e0 l\u2019arri\u00e8re devient \nnominal \u00e0 une plus courte distance  \n(1 100 pieds) qu\u2019une travers\u00e9e en \ndiagonale (2 000 pieds). \u00c0 500 pieds, \nla ligne diagonale peut causer une perte \nde valeur qui est 30 % plus \u00e9lev\u00e9e que \nne l\u2019est une travers\u00e9e \u00e0 l\u2019arri\u00e8re. Les \ndonn\u00e9es \u00e9taient limit\u00e9es pour les autres \ntypes de travers\u00e9e, mais il semble que \nles travers\u00e9es au milieu avaient moins \nd\u2019impact que les travers\u00e9es en diagonal, \nalors que les travers\u00e9es sur le c\u00f4t\u00e9 et \nles accrocs sur un c\u00f4t\u00e9 et sur un bord \nun impact sur la valeur semblable aux \ntravers\u00e9es \u00e0 l\u2019arri\u00e8re. \n\nConclusions\n\u00c0 l\u2019issue d\u2019une analyse d\u00e9taill\u00e9e, on \npeut conclure qu\u2019il existe une \u00e9troite \nrelation entre l\u2019espacement et les \n\neffets pr\u00e9judiciables. L\u2019incidence se \nmanifeste surtout sur les propri\u00e9t\u00e9s \navec am\u00e9liorations et la perte de valeur \nest moins forte dans les grands biens \nfonciers. On n\u2019a observ\u00e9 qu\u2019un trouble de \njouissance nominal ou une perte de valeur \nminime pour les propri\u00e9t\u00e9s grandes, \nvacantes ou am\u00e9lior\u00e9es par suite de la \nproposition d\u2019ajouter une seconde ligne de \ntransmission de 500kV.\n\nDe plus, nous avons conclu que \n: diff\u00e9rents types de travers\u00e9es du \ncorridor LTHT peuvent avoir une \nincidence sur l\u2019utilit\u00e9 d\u2019une propri\u00e9t\u00e9, \n\u00e0 diff\u00e9rents degr\u00e9s; le placement de \nla LTHT peut affecter l\u2019efficacit\u00e9 des \nexploitations agricoles lorsque les lignes \ntraversent des zones en culture; le march\u00e9 \na une perception n\u00e9gative des LTHT \nsitu\u00e9es \u00e0 proximit\u00e9 des am\u00e9liorations \npour r\u00e9sidences rurales et fermes \nd\u2019agr\u00e9ment; les lignes de transmission \npeuvent constituer une intrusion \nvisuelle sur une propri\u00e9t\u00e9, diminuant \nainsi la jouissance du propri\u00e9taire de \nson bien. Cependant, dans le cas de \npropri\u00e9t\u00e9s r\u00e9sidentielles en milieu urbain \nou suburbain, l\u2019espace vert des lignes \npeut \u00eatre per\u00e7u comme un facteur de \nvaleur positif.\n\nEn nous fondant sur les donn\u00e9es \nanalys\u00e9es, nous concluons que les \npertes de jouissance se situent entre un \nmaximum de 25 % pour les propri\u00e9t\u00e9s \nrelativement pr\u00e8s des lignes de \ntransmission et une moyenne nominale \nde 3,47 % \u00e0 une distance entre 1 000 \n\u00e0 2 000 pieds et de 3,1% pour les \npropri\u00e9t\u00e9s situ\u00e9es \u00e0 une distance de  \n2 000 pieds ou plus.\n\nEn ce qui a trait \u00e0 l\u2019approche \ncherchant \u00e0 \u00e9valuer les effets \npr\u00e9judiciables r\u00e9sultant d\u2019une for \nLTHT, il est \u00e9vident que des \u00e9valuations \ncas par cas sont requises pour \u00e9tablir \navec pr\u00e9cision l\u2019impact sp\u00e9cifique  \nd\u2019une LTHT sur la valeur. Les r\u00e9sultats \nde l\u2019analyse statistique sont non \nconcluants; par cons\u00e9quent, une analyse \nd\u2019ensemble des propri\u00e9t\u00e9s est plus utile \nque la simple application d\u2019un facteur \nd\u00e9riv\u00e9 math\u00e9matiquement.\n\nLes auteurs sont tous directeurs principaux \nde la Division de recherche, \u00e9valuation et \nconsultation du groupe Altus. \nwww.altusgroup.com  \n\nVariables cl\u00e9s des \neffets pr\u00e9judiciables \n\ndes LTHT\n\nDistance d\u2019espacement\nType de propri\u00e9t\u00e9\nType de travers\u00e9e\n\nEmplacement\nCaract\u00e9ristiques physiques \n(p. ex., taille, topographie, \npr\u00e9sence d\u2019\u00e9crans visuels)\n\nGroupe Altus\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 19Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.altusgroup.com\n\n\nT\nwo weeks after U.S.-led forces captured \nthe Iraq capital of Baghdad in 2003, \nPhilip Smith was dispatched to the city \nof Basra by the Government of Britain. A \nveteran of the financial services and real \nestate industries, he had retired about \na decade earlier, relocated to Moscow \nin 2000 from California, and become \n\na consultant to banks throughout Eastern Europe and the \nMiddle East. The Brits tapped Smith to help re-establish \nthe payment systems in Basra and later to organize the post-\nSaddam Hussein election, establish budgets for the offices \nof the future president and prime minister, and restore their \nbanking system. \n\nWhile none of these tasks would be straightforward, the \nlatter was particularly prickly in the context of the recent \noverthrow; payment systems were broken and looters had \nsieged the central bank before setting it ablaze. Unfazed, \nSmith set to task on a crucial first priority \u2013 ensuring money \n\nEast meets west in the heart of the Silk Road\n\nAFGHANISTAN ECONOMY  \n\nUsing\n\nCUSPAP\nB Y  J E R E M Y  B R O O K S\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201620 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\ngot into the hands of citizens in the form of salaries, pensions, \netc. While the vandalized bank was repaired, Smith led a team \nthat got cash flowing back into the streets. They did so from the \nback of a truck and storage containers. \n\n\u201cThe system worked,\u201d says Smith, who holds degrees in \naccounting and finance, applied economics, and real estate. \n\u201cWe were paying state employees, oil company salaries, \nteachers. Some people never missed a pay period . . . \u00a0we were \nhandling about $40-50 million in cash every month . . . . We \nshowed the local people how to put banking systems in place.\u201d \n\nThis boon to the locals was not so well received by the \nAmericans in Baghdad, Iraq, who felt this flash finance \nhappened too fast, says Smith. \u201cIn Baghdad, they didn\u2019t quite \nget it. We were criticized quite severely and told to slow down.\u201d \nHe didn\u2019t much care. He had been hired by Britain to help \nIraqis and he delivered on that promise. \n\nSince he first dipped his toes into international development \naid in the late-1990s as a retiree-turned-volunteer, the now \n70-year-old has taught bankers in countries from Kosovo to \n\nKyrgyzstan about international banking standards; helped them \nestablish proper appraisal professions; introduced mortgages \n(his own mortgage on his Moscow abode having the distinction \nof being the fourth one ever issued); and led seminars on \neverything from accounting to risk assessment. \n\nRecently, he worked on a project in Afghanistan to establish \nits appraisal profession, building on previous work he had done \nin the country to kick-start its finance sector that dated back \nto 2002. During the past two decades, Smith has worked for \ngovernments and foreign aid agencies from the UK, Europe \nand the U.S. For this particular project, the funder was \nUSAID, and Smith worked as a consultant for the U.S.-based \ninternational development firm Chemonics International \nInc. The projects preceding Smith\u2019s work on creating an \nappraisal profession in Afghanistan were top down in nature, \nencompassing everything from establishing a regulatory regime \nfor their banks and teaching them about financial statement \nanalysis, to introducing mortgage financing. They would lay the \ngroundwork for this next endeavour. \u00a0\n\nSome people never missed a pay period . . .   \nwe were handling about $40-50 million in cash \nevery month . . . . We showed the local people \nhow to put banking systems in place.\n\n~Philip Smith\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 21Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nIn the wake of decades of war, Afghanistan\u2019s economy, \nlike its cities and towns, was in need of rebuilding. It is not a \ndeveloped nation, but it is a country with many landowners, \nso using real\u00a0estate-based loans to kick-start its economy made \nsense. The heavy lifting that Smith had encountered with each \nsuccessive project he worked on shared common elements, \nincluding the need to adopt modern rules and regulations \naround lending and borrowing, and, from there, a way to \neducate Afghanis on how borrowing against their own assets \ncould help them, and their country, prosper. \n\nThe situation in Afghanistan is not unlike that in many \nof the countries Smith has worked in where tradition, not \nregulations, guide matters such as real estate. What a property \nwas worth and how much one could borrow against it were \nvalues that had no foundation in international standards, \nas you would expect to find in developed countries with an \nestablished appraisal profession. Real estate deals were typically \nbrokered at a dining room table over a cup of tea, sealed with \na handshake and little else. Smith says that earlier he had \nencountered a similar scenario in Kosovo, which he turned into \nan opportunity to teach their banks about appraisals. He would \nlater do the same thing in Serbia. \n\nIn the absence of an appraisal profession, what Smith says \nhe saw in these countries was banks haplessly lending far \nmore money than a property was worth. He described the \n\u201cclassic scenario\u201d in Afghanistan: a property with a market \nvalue of $500,000 netting a loan worth $1 million. Worse still \nfor the bank\u2019s risk managers who okayed the loans was the \nfact that they had no true value to help them recoup their \ninvestment if a deal went sour. Each project Smith worked \non revealed the next weak link in the chain that needed to be \nstrengthened in order to build an effective finance sector in \nAfghanistan, and knowing the value of what a property was \nworth became the bedrock.\n\nAt the same time that Smith was teaching Afghanistan\u2019s \nbanks about the importance of appraisals, the consumer side \nof the lending coin revealed another unique challenge. Smith \ndiscovered that most Afghanis had never heard of a mortgage \nand had no idea they could borrow money against their \nhomes. He says public awareness campaigns were developed \nto introduce them to the idea. Overcoming this dearth of \npublic knowledge would also require restoring their trust \n\nin a banking system known for corruption \u2013 including one \nhighly publicized fiasco at the Kabul Bank in which more than \n$800 million was diverted to personal beneficiaries, including \nthe then-president\u2019s brother.\n\nAs the pieces of the puzzle essential for developing \nAfghanistan\u2019s finance sector slotted into place, Smith focused \nhis attention on the keystone: creating an appraisal profession \nand training professional appraisers. Without them, any kind \nof borrowing, whether it was to rebuild a town, help a widow \nraise her children, or help someone open a small business, \nwould continue to be a crapshoot. Step one for Smith \nbecame finding the right model for the appraisal profession \nin Afghanistan to use.\u00a0\n\nAfter comparing systems from countries around the \nworld, he chose to model the Appraisal Institute of Canada\u2019s \n(AIC) Canadian Uniform Standards of Professional Appraisal \nStandards (CUSPAP).\n\n\u201cThis is how I got involved with the AIC,\u201d recalls Smith. \n\u201cYou have to set up an organization properly. [After doing some \nresearch] I liked Canada\u2019s standards better than anybody \nelse\u2019s. So I asked for permission to use their materials as a \nguide to develop standards that would adapt to the market \nin Afghanistan.\u201d\n\nAn educator at heart (Smith estimates that, since 1973, he \nhas taught some 10,000 participants at his various seminars), he \nsays his approach in Afghanistan was first to explore with them \nthe benefits of CUSPAP, and then help them tailor it to their \nunique needs or circumstances. \u201cI first explain that there are \ninternational standards that have been identified,\u201d says Smith. \n\u201cLet me show you what the standards are. [Then] let\u2019s adapt \nthem to your country.\u201d \n\nPart of being an effective teacher, says Smith, is being a \ngood listener. With any group he has worked with in a given \ncountry, from governments to bankers, he has always asked \nthem questions about how things have been done to better help \nhim help them devise the best way for things to be done moving \nforward. This is the process that enabled him to uncover the \nill-founded nature of lending in Afghanistan.\u00a0\n\nSmith is also an avid traveller and self-described history buff \nwho likes to research a country\u2019s past, then learn as much as \npossible about its present from the people he meets in public. \nIn countries like Afghanistan, with vastly different cultural and \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201622 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nreligious norms, Smith\u2019s inquisitive nature proved fortuitous. \nHe learned, for example, that when Islamic finance is the \nnorm, foreclosure is not a black and white issue. \u201cYou do not \ntake a person\u2019s house from above their head,\u201d he says. Another \ncultural nuance Smith uncovered in Afghanistan that would \nsignificantly affect how appraisers would perform their jobs in \nthe field was the fact that it is culturally insensitive for a man \nto enter another man\u2019s home when he is not there. \n\nSmith does not view himself as some kind of Westerner-\ncum-finance-missionary; he does not pretend to have all \nthe answers. He is more interested in using his expertise \nwithin the context of a country (its customs, its traditions) \nto help them devise a path towards success. Drawing on past \nexperiences, Smith says he has seen how pushing Western \nfinancial ideas upon a population that is not equipped to \nhandle them leads to trouble. He saw this unfurl in Russia \nwhen consumer lending floodgates were opened. Russian \ncitizens welcomed the opportunity to purchase appliances and \nall manner of household luxuries on credit, but they had no \nconcept of how to pay it back. \u201cDo not do something that is \ngoing to change the way people live,\u201d cautions Smith. \n\nTherefore, a pair of partners native to Afghanistan would \ntake ownership of Smith\u2019s training (the CUSPAP model that \nhe \u201cAfghanized\u201d) and manage the appraisal profession going \nforward: they were the Afghanistan Institute of Banking and \nFinance (AIBF) and the Afghanistan Bankers Association \n(ABA). The AIBF now oversees real estate appraisal training, \nthe ABA is responsible for examinations, and together they \nare creating the Afghanistan Appraisal Association, which is \nthe body that will adopt the modified CUSPAP to maintain \nstandards, award licenses and enforce the standards of practice \nof the new appraisal profession in the country.\u00a0\n\nIgnoring for a moment the integrity appraisers will bring \nto the nascent finance sector in Afghanistan, the benefit of \ntraining Afghanis to be professional appraisers is important \nin its own right. Smith figures there are more than 1.5 million \npotential mortgages in the country. If an appraiser earns the \naverage of $250\u2013300 per appraisal and does several each week, \nthat is a far better living than the current average annual \nincome, which Smith pegged at between $700 and $1,000. \nEnabling thousands of citizens to earn a better income will \ncreate further benefits for the country, like a more robust \ntax base. \u201cWe made a calculation that the income taxes \nfrom brokers and appraisers, plus the income taxes from the \nconstruction salaries for all the needed new construction \nof homes in the country, could pay for half the budget of \nAfghanistan,\u201d says Smith.\n\nBecause Afghanistan\u2019s banks are not big enough to \nfacilitate all the potential lending within the country, Smith \nsays he is already imagining the next phase of the country\u2019s \ndevelopment: packaging mortgages into securities to create a \nsecondary market that attracts larger investors, both within its \nborders and beyond. \n\n\u201cOnce the banks use their existing liquidity, you have to be \nready to have something in play,\u201d says Smith. \u201cYou have  \nto build a secondary market at the same time.\u201d Current \nlaws may prohibit the securitized mortgage scenario Smith \n\nenvisions, but that has done little to temper his enthusiasm \nabout the idea. \n\n\u201cThe possibilities are there,\u201d he says. \u201cSome people just \ncannot envision them.\u201d\n\nNever one to let an idea sit idle (Smith admits he has \nowned about 55 companies in his life, including three \nnewspapers), he nevertheless acknowledges that the ambitious \nnature of what he would like to see happen in Afghanistan is \nnot only tempered by existing Afghani laws, but also by the \ncountry\u2019s competing needs on other fronts. \n\n\u201cThat work is progressing,\u201d says Smith. \u201cIt does not go \nvery fast. [Creating an appraisal profession] is not the most \nimportant thing on the parliamentary agenda.\u201d  \n\na step above\n\nTrisura Guarantee Insurance Company is a Canadian owned and operated Property and Casualty insurance company specializing in niche \ninsurance and surety products. We are a proud supporter of the Insurance Broker\u2019s Association of Canada.\n\nProud Professional Liability \n\nInsurance Partner of the Appraisal \n\nInstitute of Canada\n\nLearn more at www.trisura.com\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 23Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.trisura.com\n\n\neux semaines apr\u00e8s la capture par la coalition \ndirig\u00e9e par les \u00c9.-U. de la capitale de l\u2019Iraq, \nBaghdad, en 2003, Philip Smith fut d\u00e9p\u00each\u00e9 \ndans la ville de Basra par le gouvernement \nbritannique. V\u00e9t\u00e9ran des services financiers \net de l\u2019immobilier, il avait pris sa retraite, \nune dizaine d\u2019ann\u00e9es auparavant, s\u2019\u00e9tait \nr\u00e9install\u00e9 de la Californie \u00e0 Moscou en \n\n2000, et \u00e9tait devenu consultant aupr\u00e8s de banques dans toute \nl\u2019Europe orientale et le Moyen-Orient. Les  Britanniques s\u2019\u00e9taient \ntourn\u00e9s vers M. Smith pour r\u00e9tablir les syst\u00e8mes de paiement \n\u00e0 Basra, organiser ensuite l\u2019\u00e9lection apr\u00e8s le r\u00e9gime de Saddam \nHussein, \u00e9tablir des budgets pour les bureaux du futur pr\u00e9sident \net premier ministre et restaurer le syst\u00e8me bancaire. \n\nL\u2019Est et l\u2019Ouest se rencontrent \u00e0 mi-parcours de la Route de la soie\n\nREB\u00c2TIR L\u2019\u00c9CONOMIE AFGHANE\n\n\u00e0 l\u2019aide des\n\nNUPPEC\nPA R  J E R E M Y  B R O O K S\n\nSi aucune de ces t\u00e2ches n\u2019\u00e9tait simple, la derni\u00e8re \ns\u2019av\u00e9rait particuli\u00e8rement \u00e9pineuse dans le contexte du \nr\u00e9cent coup d\u2019\u00e9tat; les syst\u00e8mes de paiement \u00e9taient \nparalys\u00e9s et des pillards avaient assi\u00e9g\u00e9 la banque centrale \navant de l\u2019incendier. Imperturbable, M. Smith entreprit \nla t\u00e2che de r\u00e9tablir une priorit\u00e9 cruciale, celle de voir  \n\u00e0 ce que l\u2019argent soit remis aux citoyens sous forme de \nsalaires, pensions, etc. Durant les r\u00e9parations de la  \nbanque vandalis\u00e9e, M. Smith dirigea une \u00e9quipe \ncharg\u00e9e de relancer les flux mon\u00e9taires dans les rues. \nCette t\u00e2che fut accomplie \u00e0 m\u00eame un camion et des \ncontenants d\u2019entreposage. \n\n\u00ab Notre syst\u00e8me a r\u00e9ussi, dit M. Smith, dipl\u00f4m\u00e9 en \ncomptabilit\u00e9 et finances, sciences \u00e9conomiques appliqu\u00e9es \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201624 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\net immobilier. Nous avons pay\u00e9 les employ\u00e9s de l\u2019\u00e9tat, des \nsoci\u00e9t\u00e9s p\u00e9troli\u00e8res et les enseignants. Certains n\u2019ont jamais \nmanqu\u00e9 une p\u00e9riode de paie . . . \u00a0nous avons distribu\u00e9 ainsi \nenviron 40 \u00e0 50 millions de dollars en esp\u00e8ces chaque mois . . . . \nNous avons montr\u00e9 aux gens du coin comment mettre sur pied \nun syst\u00e8me bancaire. \u00bb  \n\nCe bienfait inappr\u00e9ciable pour les gens du coin ne fut pas \ntrop bien re\u00e7u par les Am\u00e9ricains \u00e0 Baghdad qui \u00e9taient d\u2019avis \nque ce financement \u00e9clair arrivait trop rapidement, explique \nM. Smith. \u00ab \u00c0 Baghdad, ils n\u2019ont pas vraiment compris. Nous \navons \u00e9t\u00e9 critiqu\u00e9s assez s\u00e9v\u00e8rement et on nous a demand\u00e9 \nde ralentir. \u00bb Il ne s\u2019en est pas trop souci\u00e9. Il avait \u00e9t\u00e9 \nembauch\u00e9 par la Grande-Bretagne pour aider les Iraquiens \net il a livr\u00e9 tel que promis. \n\nDepuis sa premi\u00e8re incursion dans le domaine de l\u2019aide au \nd\u00e9veloppement international \u00e0 la fin des ann\u00e9es 1990 \u00e0 titre \nde retrait\u00e9 devenu b\u00e9n\u00e9vole, M. Smith, maintenant \u00e2g\u00e9 de \n70 ans, a enseign\u00e9 \u00e0 des banquiers de pays comme le Kosovo \net le Kyrgyzstan les normes bancaires internationales, il les \na aid\u00e9s \u00e0 \u00e9tablir des professions d\u2019\u00e9valuation, il a introduit \nles hypoth\u00e8ques (sa propre hypoth\u00e8que pour son logement \n\u00e0 Moscou ayant la distinction d\u2019\u00eatre la quatri\u00e8me \u00e0 y \u00eatre \n\u00e9mise) et il a donn\u00e9 des s\u00e9minaires sur tous les sujets depuis la \ncomptabilit\u00e9 jusqu\u2019\u00e0 l\u2019\u00e9valuation du risque. \n\nR\u00e9cemment, il a \u00e9t\u00e9 appel\u00e9 \u00e0 travailler \u00e0 un projet en \nAfghanistan visant \u00e0 y \u00e9tablir la profession d\u2019\u00e9valuateur, en \ns\u2019appuyant sur le travail visant \u00e0 relancer le secteur financier \nqu\u2019il avait d\u00e9j\u00e0 accompli dans le pays en 2002. Au cours \n\nCertains n\u2019ont jamais manqu\u00e9 une p\u00e9riode \nde paie . . .  nous avons distribu\u00e9 ainsi \nenviron 40 \u00e0 50 millions de dollars en \nesp\u00e8ces chaque mois . . . . Nous avons \nmontr\u00e9 aux gens du coin comment mettre \nsur pied un syst\u00e8me bancaire.\n\n~Philip Smith\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 25Click HERE to return to \nTABLE OF CONTENTS\n\n\n\ndes deux derni\u00e8res d\u00e9cennies, M. Smith a travaill\u00e9 pour des \ngouvernements et agences d\u2019aide \u00e9trang\u00e8res du R.-U., d\u2019Europe \net des \u00c9.-U. Dans ce projet, financ\u00e9 par USAID, M. Smith a \ntravaill\u00e9 comme consultant pour l\u2019entreprise internationale de \nd\u00e9veloppement ayant son si\u00e8ge social aux \u00c9.-U., Chemonics \nInternational Inc. Les projets ant\u00e9rieurs au travail de M. Smith \nvisant \u00e0 cr\u00e9er une profession d\u2019\u00e9valuateur en Afghanistan \navaient \u00e9t\u00e9 de nature autocratique, englobant tous les aspects \ndepuis l\u2019\u00e9tablissement d\u2019un r\u00e9gime de r\u00e9glementation pour \nles banques et l\u2019enseignement de l\u2019analyse des \u00e9tats financiers, \njusqu\u2019\u00e0 l\u2019introduction du financement hypoth\u00e9caire. Ces projets \navaient pr\u00e9par\u00e9 le terrain pour l\u2019\u00e9tape suivante. \u00a0\n\nApr\u00e8s des d\u00e9cennies de guerre, l\u2019\u00e9conomie afghane, tout \ncomme ses villes et villages, devait \u00eatre reconstruite. Ce n\u2019est \npas un pays d\u00e9velopp\u00e9, mais un pays qui compte de nombreux \npropri\u00e9taires fonciers, de sorte que le recours \u00e0 des pr\u00eats \nimmobiliers pour relancer l\u2019\u00e9conomie   semblait logique. Le \ntravail rigoureux que M. Smith avait d\u00fb effectuer dans chaque \nprojet successif auquel il avait particip\u00e9 avait des \u00e9l\u00e9ments \ncommuns, y compris le besoin d\u2019adopter des r\u00e8gles et r\u00e8glements \nmodernes entourant les pr\u00eats et emprunts et, de l\u00e0, un moyen \nd\u2019amener les Afghans \u00e0 comprendre qu\u2019en garantissant des \nemprunts sur leurs avoirs ils pouvaient acc\u00e9der \u00e0 la prosp\u00e9rit\u00e9. \n\nLa situation en Afghanistan n\u2019est pas tr\u00e8s diff\u00e9rente de \ncelle de plusieurs pays dans lesquels M. Smith a travaill\u00e9, \nune situation o\u00f9 la tradition, et non la r\u00e9glementation, r\u00e9git \nles affaires telles l\u2019immobilier. La valeur d\u2019une propri\u00e9t\u00e9 \net le montant que cette propri\u00e9t\u00e9 permet d\u2019emprunter ne \ns\u2019appuyaient aucunement sur des normes internationales, \ncomme on trouve normalement dans les pays d\u00e9velopp\u00e9s \njouissant d\u2019une profession d\u2019\u00e9valuateur. Les transactions \nimmobili\u00e8res se n\u00e9gociaient g\u00e9n\u00e9ralement \u00e0 l\u2019heure du th\u00e9 dans \nune salle \u00e0 manger et se concluaient par une simple poign\u00e9e \nde main. M. Smith dit avoir d\u2019abord observ\u00e9 ce sc\u00e9nario au \nKosovo, et en avoir profit\u00e9 pour enseigner aux banques les \nprincipes de l\u2019\u00e9valuation immobili\u00e8re. Il a ensuite fait la m\u00eame \nchose en Serbie. \n\nEn l\u2019absence d\u2019une profession d\u2019\u00e9valuateur, M. Smith \nrapporte avoir observ\u00e9 dans ces pays des banques pr\u00eatant \nbeaucoup plus d\u2019argent que ce que la propri\u00e9t\u00e9 valait. Il d\u00e9crit \n\nle \u00ab sc\u00e9nario classique \u00bb en Afghanistan : un bien immobilier \ndont la valeur marchande est de 500 000 $  obtenant un pr\u00eat \nd\u2019un million de dollars. Pire encore pour les gestionnaires de \nrisque de la banque qui avaient autoris\u00e9 le pr\u00eat est le fait qu\u2019ils \nn\u2019avaient aucune valeur r\u00e9elle leur permettant de recouvrer leur \ninvestissement si l\u2019affaire tournait mal. Chaque projet auquel \nM. Smith a particip\u00e9 a r\u00e9v\u00e9l\u00e9 le cha\u00eenon suivant \u00e0 renforcer afin \nde construire un secteur financier efficace en Afghanistan. La \npierre d\u2019assise de cette d\u00e9marche consistait \u00e0 conna\u00eetre la valeur \ndes propri\u00e9t\u00e9s.\n\nAlors que M. Smith enseignait aux banques afghanes \nl\u2019importance des \u00e9valuations immobili\u00e8res, un autre d\u00e9fi se \ndessinait du c\u00f4t\u00e9 des consommateurs. M. Smith d\u00e9couvrit que \nla plupart des Afghans n\u2019avaient jamais entendu parler d\u2019une \nhypoth\u00e8que et n\u2019avaient aucune id\u00e9e qu\u2019ils pouvaient emprunter \nde l\u2019argent sur la valeur de leurs maisons. Des campagnes de \nsensibilisation du public furent mises sur pied pour introduire \ncette id\u00e9e. Pour surmonter cette lacune, il fallait aussi restaurer \nla confiance du public envers un syst\u00e8me bancaire reconnu pour \nsa corruption \u2013 y compris un fiasco monumental \u00e0 la Banque \nde Kaboul dans lequel plus de 800  millions de dollars avaient \n\u00e9t\u00e9 d\u00e9tourn\u00e9s vers des b\u00e9n\u00e9ficiaires personnels, dont le fr\u00e8re du \npr\u00e9sident de l\u2019\u00e9poque.\n\nAlors que les pi\u00e8ces du casse-t\u00eate essentielles au \nd\u00e9veloppement du secteur financier de l\u2019Afghanistan tombaient \nen place, M. Smith tourna toute son attention sur la plaque \ntournante : la cr\u00e9ation d\u2019une profession d\u2019\u00e9valuation et la \nformation d\u2019\u00e9valuateurs professionnels. Sans ces deux \u00e9l\u00e9ments, \ntoute forme d\u2019emprunt, que ce soit pour reconstruire une \nville, pour aider une veuve \u00e0 \u00e9lever ses enfants ou pour aider \nquelqu\u2019un \u00e0 ouvrir un petit commerce, continuerait d\u2019\u00eatre un \njeu de hasard. Pour M. Smith, la premi\u00e8re \u00e9tape consistait \ndonc \u00e0 trouver le mod\u00e8le de la profession d\u2019\u00e9valuation qui \nconviendrait le mieux \u00e0 la situation en Afghanistan.\u00a0\n\nApr\u00e8s avoir compar\u00e9 les syst\u00e8mes de divers pays dans le \nmonde, il choisit le mod\u00e8le des R\u00e8gles uniformes de pratique \nprofessionnelle en mati\u00e8re d\u2019 \u00e9valuation au Canada (NUPPEC) de \nl\u2019Institut canadien des \u00e9valuateurs (ICE). \n\n\u00ab C\u2019est ainsi qu\u2019a commenc\u00e9 ma relation avec l\u2019ICE, \nrappelle M. Smith. Il faut mettre sur pied une organisation \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201626 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\ncorrectement. [Apr\u00e8s quelques recherches] j\u2019ai pr\u00e9f\u00e9r\u00e9 les normes \ndu Canada plus que toutes les autres. J\u2019ai donc demand\u00e9 la \npermission d\u2019utiliser son mat\u00e9riel comme guide pour d\u00e9velopper \ndes normes qui peuvent s\u2019adapter au march\u00e9 en Afghanistan. \u00bb\n\n\u00c9ducateur dans l\u2019\u00e2me (M. Smith estime avoir enseign\u00e9, \ndepuis 1973, \u00e0 quelque 10 000 participants \u00e0 divers s\u00e9minaires), \nil pr\u00e9cise que sa d\u00e9marche en Afghanistan consistait \u00e0 examiner \nd\u2019abord avec eux les avantages des NUPPEC et ensuite de les \naider \u00e0 adapter les NUPPEC \u00e0 leurs besoins et circonstances \nuniques. \u00ab J\u2019ai commenc\u00e9 par expliquer que des normes \ninternationales ont \u00e9t\u00e9 formul\u00e9es et identifi\u00e9es, dit M. Smith. \nLaissez-moi vous montrer en quoi elles consistent. [Puis] nous \nallons les adapter \u00e0 votre pays. \u00bb \n\nPour \u00eatre un enseignant efficace, selon M. Smith, il faut \nsavoir \u00e9couter. Il soumet tous les groupes avec lesquels il est \nappel\u00e9 \u00e0 travailler dans un pays donn\u00e9, tant au gouvernement \nque dans les banques, \u00e0 une s\u00e9rie de questions au sujet de leurs \nfa\u00e7ons de faire les choses afin de pouvoir les aider \u00e0 mettre au \npoint la meilleure fa\u00e7on de faire les choses \u00e0 l\u2019avenir. C\u2019est ce \nprocessus qui lui a permis de d\u00e9gager la faiblesse fondamentale \ndes pratiques de pr\u00eats en Afghanistan.\u00a0\n\nM. Smith est aussi un voyageur averti qui se d\u00e9crit lui-\nm\u00eame comme un mordu de l\u2019histoire qui aime \u00e9tudier le \npass\u00e9 d\u2019un pays et en apprendre le plus possible du pr\u00e9sent \nde ce pays des gens qu\u2019il rencontre en public. Dans des pays \ncomme l\u2019Afghanistan, aux normes culturelles et religieuses tr\u00e8s \ndiff\u00e9rentes, le c\u00f4t\u00e9 inquisiteur de M. Smith s\u2019est av\u00e9r\u00e9 fortuit. \nIl a appris, par  exemple, qu\u2019en r\u00e9gime financier islamique, la \nforclusion n\u2019est jamais une affaire noir sur blanc. \u00ab Vous ne jetez \npas les gens \u00e0 la rue, \u00bb dit-il. Une autre nuance culturelle que \nM. Smith a d\u00e9couverte en Afghanistan qui aurait de profondes \nr\u00e9percussions sur les m\u00e9thodes de travail des \u00e9valuateurs sur \nle terrain est le fait qu\u2019il est culturellement inconvenant qu\u2019un \nhomme entre dans la maison d\u2019un autre homme en son absence. \n\nM. Smith ne se per\u00e7oit pas comme une sorte de P\u00e8re No\u00ebl \nmissionnaire; il ne pr\u00e9tend pas avoir toutes les r\u00e9ponses. Il \nest plus int\u00e9ress\u00e9 \u00e0 utiliser son expertise dans le contexte d\u2019un \npays (avec ses coutumes et traditions) pour aider les gens \u00e0 \ntrouver leur propre voie vers le succ\u00e8s. Puisant \u00e0 m\u00eame son \nexp\u00e9rience, M. Smith dit avoir vu comment l\u2019imposition des \nid\u00e9es financi\u00e8res de l\u2019Occident \u00e0 une population qui n\u2019est pas \n\u00e9quip\u00e9e pour y faire face cause des probl\u00e8mes. C\u2019est ce qu\u2019il \na observ\u00e9 en Russie quand les consommateurs ont eu acc\u00e8s \nau cr\u00e9dit. Les citoyens russes furent ravis de constater qu\u2019ils \npouvaient acheter des appareils m\u00e9nagers et autres articles de \nluxe \u00e0 cr\u00e9dit, mais ils n\u2019avaient aucune id\u00e9e de la mani\u00e8re de \nrembourser. \u00ab Ne faites rien qui changerait la fa\u00e7on de vivre des \ngens, \u00bb conseille M. Smith. \n\nPar cons\u00e9quent, deux partenaires originaires d\u2019Afghanistan \nont pris possession de la formation donn\u00e9e par M. Smith (le \nmod\u00e8le des NUPPEC qu\u2019il avait \u00ab afghanis\u00e9 \u00bb) et pris en main \nla gestion de la profession d\u2019\u00e9valuateur : ce sont l\u2019Afghanistan \nInstitute of Banking and Finance (AIBF) et l\u2019Afghanistan \nBankers Association (ABA). L\u2019AIBF supervise maintenant \nla formation en \u00e9valuation immobili\u00e8re, l\u2019ABA s\u2019occupe des \nexamens et ils ont cr\u00e9\u00e9 ensemble l\u2019Afghanistan Appraisal \nAssociation, l\u2019organisme qui adoptera les NUPPEC modifi\u00e9es \n\npour maintenir les normes, accorder des licences et faire \nappliquer les normes de pratique de la nouvelle profession \nd\u2019\u00e9valuation dans le pays.\u00a0\n\nFaisant abstraction pour un moment de l\u2019int\u00e9grit\u00e9 que \nles \u00e9valuateurs apporteront au secteur naissant des finances \nen Afghanistan, l\u2019avantage de former les Afghans \u00e0 devenir \n\u00e9valuateurs professionnels est important en soi. M. Smith \ncalcule qu\u2019il y a plus d\u2019un million et demi d\u2019hypoth\u00e8ques \npossibles au pays. Si un \u00e9valuateur gagne en moyenne 250 $ \u00e0 \n300 $ par \u00e9valuation et qu\u2019il en effectue plusieurs par semaine, \nil tire un revenu tr\u00e8s sup\u00e9rieur au revenu annuel moyen que \nM. Smith situe entre 700 $ et 1 000 $. En permettant \u00e0 des \nmilliers de citoyens d\u2019augmenter leurs revenus, le pays se dotera \nd\u2019une base fiscale plus robuste. \u00ab Nous avons calcul\u00e9 que les \nimp\u00f4ts sur le revenu des courtiers et \u00e9valuateurs, plus les imp\u00f4ts \nsur le revenu des travailleurs de la construction qui seront \nrequis pour la construction des nouvelles maisons dans le pays \npourraient constituer la moiti\u00e9 du budget de l\u2019Afghanistan, \u00bb \nestime M. Smith.\n\nSachant que les banques afghanes n\u2019ont pas les ressources \nn\u00e9cessaires pour faciliter tous les pr\u00eats possibles au pays, M. \nSmith dit avoir commenc\u00e9 \u00e0 imaginer la phase suivante de \nd\u00e9veloppement du pays : le groupement des hypoth\u00e8ques \nen valeurs mobili\u00e8res afin de cr\u00e9er un march\u00e9 secondaire \nsusceptible d\u2019int\u00e9resser les grands investisseurs, tant au pays \nqu\u2019\u00e0 l\u2019\u00e9tranger. \n\n\u00ab Une fois que les banques ont \u00e9puis\u00e9 leurs liquidit\u00e9s \nexistantes, vous devez \u00eatre pr\u00eat \u00e0 relancer la partie, dit M. \nSmith. Vous devez b\u00e2tir simultan\u00e9ment un march\u00e9 secondaire. \u00bb \nLes lois actuelles peuvent interdire le recours aux hypoth\u00e8ques \ntitralis\u00e9es qu\u2019envisage M. Smith, mais cette situation n\u2019a pas \nrefroidi son enthousiasme \u00e0 l\u2019\u00e9gard de cette id\u00e9e. \n\n\u00ab Les possibilit\u00e9s sont l\u00e0, dit-il. Encore faut-il avoir la vision \nn\u00e9cessaire pour les voir. \u00bb \n\nJamais satisfait de laisser une bonne id\u00e9e sur la tablette (M. \nSmith admet avoir \u00e9t\u00e9 propri\u00e9taire de 55 compagnies au cours \nde sa vie, y compris trois journaux), il reconna\u00eet n\u00e9anmoins \nque l\u2019ambitieuse nature de ce qu\u2019il aimerait voir se r\u00e9aliser en \nAfghanistan n\u2019est pas entrav\u00e9 seulement pas les lois afghanes, \nmais aussi par les besoins concurrents sur d\u2019autres fronts. \n\n\u00ab Les choses avancent, dit M. Smith. Mais \u00e7a ne va pas tr\u00e8s \nvite. [La cr\u00e9ation d\u2019une profession d\u2019\u00e9valuation] n\u2019est pas le \ndossier le plus important \u00e0 l\u2019ordre du jour parlementaire. \u00bb  \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 27Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nE\nngaging individuals, \nproperty owners and \ncommunities in generating \nclean energy to sell to \nthe grid is a win-win \nfor everyone. Cleaner \nenergy, contributing to \n\nthe greenness of the planet and getting paid \nto do it \u2013 it does not get much better than \nthis. Drawing from the microFIT and FIT \nprograms in Ontario, this article discusses \nthe program participants\u2019 obligations, \nhow solar panel improvements under the \nprogram are financed and assessed, and the \nchallenges in valuing long-term photovoltaic \n\nBy Nathalie Roy-Patenaude, AACI, P.App \nDirector-Counsellor, \nProfessional Practice\n\n(PV)\/solar contracts on residential and non-\nresidential properties.\n\nIn Canada, the solar electricity sector \nis growing rapidly and Ontario is one of \nthe top 20 solar electricity markets in \nthe world, according to the Canadian \nSolar Industries Association. In 2009, \nOntario launched the microFIT and \nFIT (Feed-in Tariff) programs, with \nthe objective of providing\u00a0participants \nwith\u00a0the opportunity to install renewable \nelectricity generation projects on their \nproperties. The microFIT program allows \nfor small or \u2018micro\u2019 projects producing 10 \nkilowatts (kW) or less; the FIT program \n\nallows for medium projects producing \nfrom 10 kW to 500 kW, and larger \nprojects producing more than 500kW. \nMicroFIT programs are typically geared \nto residential use properties; FIT programs \napply to any non-residential property \n(e.g., industrial, commercial, industrial, \ninstitutional \u2013 vacant land or improved).  \n\nUnder the programs, participants \nare paid a guaranteed contract rate over \na 20-year term for all the electricity \nproduced and delivered to the province\u2019s \nelectricity grid.\n\nEligible program applicants include, \nbut are not limited to, individual \n\nValuing \nSOLAR ENERGY \n\nPART 1\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201628 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nproperty owners; farmers and farm \nco-operatives; renewable energy \nco-operatives; aboriginal communities; \nuniversities, schools or colleges; hospitals \nand long-term care facilities; municipal and \npublic sector entities; social and affordable \nhousing; and faith-based organizations. \n\nParticipant\u2019s obligations\nThe program contract is between the \nproperty owner or lessee and Independent \nElectricity System Operation (formerly \nknown as Ontario Power Authority) and \nis tied to the participant, not the property.  \nAs with any improvement, the property \nowner must obtain all required permits, \nincluding municipal building permits and \napprovals, if required; Electrical Safety \nAuthority approval; etc. Zoning and land \nuse restrictions may impact or limit the \ninstallation of PV projects and, in some \ncases, zoning changes or amendments may \nbe required (i.e., from agricultural  \nto industrial). \n\nThe participant is responsible for:\n\ufffd researching the solar installation \n\nthat will produce the best renewable \nenergy system for them, while \nensuring that what is purchased \nmeets the minimum Canadian  \n(or domestic) product content \n(i.e., 79% of Ontario content for \nOntario participants);\n\n\ufffd\tpurchasing and having the renewable \nenergy system installed; \n\n\ufffd\tensuring that all applicable safety \nstandards are met, including \narranging and paying for the \ninspection of the project by the \nElectrical Safety Authority; \n\n\ufffd\tworking with the local electricity \ndistribution company (LDC) \nto connect the project to the \nelectricity grid and pay for all \nconnection-related costs;\n\n\ufffd\thaving a separate meter from the \nproperty\u2019s main meter for separate \ndata and payment calculation \nthat is specific to the electricity \ngenerated under the terms of the \ncontract (the electricity cannot be \nfor personal use); \n\n\ufffd\tpaying the LDC for account charges \nand metering\/generation fees; and\n\n\ufffd\tpaying any associated property \ninsurance costs, as well as professional \nfees for legal and tax advice.\n\nThe programs have specific eligibility \nrequirements such as, and not limited to, \nthe following: \n\ufffd\tfor the microFIT program, the \n\nproperty must maintain its status as \na principal residence;\n\n\ufffd\ta ground-mounted solar system \ncannot be located on a property \nwith residential use or abut another \nproperty with residential use; and\n\n\ufffd\ta ground-mounted system on \na property with commercial or \nindustrial use cannot be the primary \nuse of the property; ground mount \npivots have tracker models that move \nwith the sun for optimal production \nand have a tilt and inverters; ground \nmount fixed are in fixed position \n(with a southerly exposure) to save \non cost and maintenance. \n\nA participant can be a lessee leasing \nspace (rooftop or ground-mounted) \nfrom a property owner to mount a PV \nsystem. As this is an income-producing \nimprovement, there are tax implications \nfor the participant and the Canada \nRevenue Agency\u2019s website has specific \nreferences on this topic. \n\nWhile not limited to, the participant \ncan also be:\n\ufffd\ta purchaser of a new property \n\ninstalling a solar system;\n\ufffd\ta purchaser of an existing property with \n\nan existing system or adding a new one;\n\ufffd\ta lessee installing a ground or \n\nroof-mounted system; or\n\ufffd\tan existing property owner installing \n\na system.\nAccording to the program participants \nthat I interviewed, most chose to \nparticipate in this initiative because their \nlonger term plan is to stay in their home, \nthey are not looking to sell, they like the \nappeal of contributing to the greenness \nof the planet, and they are driven by \nthe return on their equity. The initial \nup-front cost of an average-size microFIT \nsystem can range from $35,000-$50,000 \n(depending on size and quality of panels), \nbut industry data shows that the cost can \nbe recovered within 6-8 years, generating \na net return of approximately $45,000 \nover the 20-year period of the contract.\n\nAbout the panels\nAccording to industry experts, the life \nexpectancy of the panels is estimated to \n\nbe 20 years, which means that, over time, \nthey depreciate and lose efficiency in their \nproducing capacity. There is little to no \nmaintenance required, although weather \nconditions may limit solar production. \nFrom an insurability perspective, many \nproperty insurance companies will insure \nthem, subject to some conditions.\n \nThe U.S. experience and research\nIn January 2015, the Lawrence Berkeley \nNational Laboratory published the \nfindings of a comprehensive study that \nspanned from 2002-2013. The study \nanalyzed 22,822 homes, of which 3,951 \nhad photovoltaic systems, and it examined \nthe transactions in eight states. The study \nfound that homebuyers across various \nstates, housing and photovoltaic markets, \nand home types (new and existing) were \nconsistently willing to pay a premium for \nresidential properties with a contractual \nPV system, and that the premium varied \nby market. The average premium was \nreported to be approximately $4\/W, or \n$15,000 for an average-sized 3.6-kW \n(residential) PV system. Interestingly, the \nstudy revealed that the market appeared to \ndepreciate the value of the PV system in its \nfirst 10 years at a rate that exceeded the rate \nof the panels\u2019 efficiency loss and straight-line \ndepreciation of their useful life.  \n\nSolar PV systems have been in place \nin the U.S. since 2006. According to \nthe study, as of Q2 2014, more than \nhalf a million homes in the U.S. had \nsolar systems, with more than 42,000 \nsystems installed in Q2 alone (four times \nthe number installed in Q2 2010). The \nmarket has seen a compound annual rate \nof 76% in solar installations since 2006 \n(compared to 30% in Canada (CMHC)). \nWithout a doubt, this has resulted in \nsignificant job creation in the solar \nindustry in the U.S.\n\nSeveral factors can be attributed to \nthe take-up in the U.S.: \n\ufffd\tdecreased installation costs as a result \n\nof demand and increased competition;\n\ufffd\tan increase in financing and leasing \n\noptions; and\n\ufffd\tfederal incentives in the form of \n\ninvestment tax credits of 30% of the \ngross installation cost, which reduces \nthe up-front cost considerably.\n\nIn Canada, the cost for micro systems has \ndecreased by close to 50% since 2009 and \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 29Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nseveral financing alternatives are available \nto the participants, however, they remain \nlimited compared to those available in the \nU.S.  \n\nAt the core of the success of this \ninitiative is market acceptance. The study: \n\ufffd\tconfirms that the market recognizes \n\nenergy efficient improvements, \nand homeowners who install solar \nsystems on their property often have \nmade energy efficient improvements \nor have invested in the condition of \ntheir property, making it difficult to \nextract the contributory value of the \nsolar PV system;\n\n\ufffd\tshows that market awareness \nand acceptance is reflected in \nthe premium paid and that the \ndifference in premium is nominal \nwhen looking at new versus existing \nhomes; and\n\n\ufffd\tshows that the PV premium has \nremained relatively consistent during \nvarying market conditions during \nspans from 2002-2013.\n\nAppraisers are reminded to use the \nresearch data with care. The study \ndemonstrates market acceptance, but with \nsome limitations. The market will pay a \npremium for a system that is within its \nfirst 10 years, but that premium declines \nrapidly thereafter, in light of the rapid \ndepreciation of the panels. In Canada, \nand more specifically in Ontario, where \nthe microFIT and FIT programs are \nprevalent, market acceptance remains \n\nunproven, and residential and non-\nresidential market data from a resale \nperspective remains limited in many \nmarkets.  \n\nHow they are assessed in Ontario \nIn an effort to encourage residential \ntake-up, the Assessment Act was amended \nto ensure that residential property \nowners installing microFIT systems \nare not assessed (and taxed) for the PV \nimprovements. From the perspective \nof the Municipal Assessment Property \nCorporation (MCAP) and the Act, a  \n10 kW or less (microFIT) is not \nconsidered a corporate producer, \ntherefore, the property is not assessed for \nthe solar PV improvements. For medium-\nsized facilities producing 10kW-500 \nkW, the property\u2019s tax class\/rate does \nnot change and the value of the land is \nassessed based on its regular assessment \nrate (and no change in classification is \nrequired). Larger facilities producing more \nthan 500kW are considered corporate \nproducers and the land classification \nfor the area covered by the PV system is \nchanged to industrial. For example, for \na 100-acre agriculturally-zoned property \nof which 25 acres is used (or leased) for \na PV system, 75 acres would be assessed \nunder the relevant farm rate, and the \nportion with the PV system, that being 25 \nacres, would we assessed at the industrial \nrate. Depending on the original property \nclassification, the change in tax class\/\n\nrate for the solar portion may have a \nsignificant impact. \n\nRooftop PV systems will not result \nin a change in the assessment, if they are \nancillary to the original building and its \nuse. Also of note is that the assessment \nis not based on the income production \nof the PV system, but rather the size and \nfootprint of the system.   \n\nHow they are financed\nParticipants have different options \nwhen it comes to financing PV systems. \nSolar system suppliers and   financial \ninstitutions offer a variety of options and \nfinancial products. Some lenders will \nconsider the additional income as part \nof the borrower\u2019s income and qualifying \nrequirements; others consider it as \nauxiliary income that is not included. \nMost will not consider or roll the cost \nof the solar improvement as part of \nthe mortgage, opting instead to have it \nfinanced through a separate product (i.e., \nHELOC, LOC, other type of loan) and \nnot as a lien with the mortgage.  \n\nAcknowledgements\nI would like to extend a sincere thank \nyou and acknowledge those who have \nbeen very generous with their time and \ninformation. They are AIC Members \nRobin Jones, AACI, P. App., www.\nInFocusAppraisals.com, President of the \nOntario Association of the AIC; Ryan \nR. Parker, B.Comm, AACI, P. App., \nP.Ag, CAFA, Partner, Valco Real \nEstate Appraisers and Consultants, \nrparker@valcoconsultants.com; Farm \nCredit Canada; Royal Bank of Canada; \nScotiabank; TD Canada Trust; MPAC; \nand several program participants. \n\nFor more information or questions \non this topic, please contact Nathalie \nRoy-Patenaude, AACI, P. App., Director-\nCounsellor, Professional Practice at \ndirectorprofessionalpractice@aicanada.ca \nor at 1-866-726-5996.  \n\nTo learn more about how these \nsystems are valued and what the \npractitioner\u2019s obligations are \nunder CUSPAP, read PART II: \nValuing Solar Energy in the June \nissue (Book 2, 2016) of Canadian \nProperty Valuation.\n\nThe Fort Garry hotel, spa and conference centre. A national historic site \nlocated in downtown Winnipeg. Close to all major attractions. All guestrooms \nand suites feature down duvets\/pillows, and fine Italian linens. Premier conference \nfacilities including four grand historic ballrooms and 16 conference\/meeting rooms. \nFull fitness centre with indoor pool,        and,         spa.yoga public\n\n1.800.665.8088   204.946.6510   christopherson@fortgarryhotel.com   www.fortgarryhotel.com\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201630 Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.InFocusAppraisals.com\nhttp:\/\/www.InFocusAppraisals.com\nmailto:rparker@valcoconsultants.com\nmailto:directorprofessionalpractice@aicanada.ca\nmailto:christopherson@fortgarryhotel.com\nhttp:\/\/www.fortgarryhotel.com\n\n\nL\n\u2019engagement des particuliers, \ndes propri\u00e9taires et des \ncollectivit\u00e9s envers la \nproduction d\u2019 \u00e9nergie \npropre \u00e0 vendre au r\u00e9seau \nest une situation gagnant-\ngagnant. On ne saurait \n\ntrouver meilleure initiative  que celle d\u2019 \u00eatre \npay\u00e9 pour produire une \u00e9nergie plus propre \ncontribuant \u00e0 l\u2019 \u00e9cologie de la plan\u00e8te.    \nPuisant \u00e0 m\u00eame les programmes microFIT \net FIT de l\u2019Ontario, le pr\u00e9sent  article \naborde les obligations des participants au \nprogramme, comment les installations de \npanneaux solaires sous le Programme et \nles d\u00e9fis dans l\u2019 \u00e9valuation des contrats \nphotovolta\u00efque(PV)\/solaires \u00e0 long terme \nsur des propri\u00e9t\u00e9s r\u00e9sidentielles et  \nnon r\u00e9sidentielles.\n\nPar Nathalie Roy-Patenaude, AACI, P.App \ndirectrice-conseill\u00e8re, \nPratique professionnelle\n\nAu Canada, le secteur de l\u2019\u00e9lectricit\u00e9 \nsolaire est en expansion rapide et, selon \nl\u2019Association des industries solaires du \nCanada, l\u2019Ontario est l\u2019un des 20 plus \nimportants march\u00e9s d\u2019\u00e9lectricit\u00e9 solaire \nau monde. En 2009, l\u2019Ontario a institu\u00e9 \nles programmes microFIT et FIT (tarif \nde rachat garanti), visant \u00e0 donner \naux participants l\u2019occasion d\u2019installer \ndes projets de g\u00e9n\u00e9ration d\u2019\u00e9nergie \nrenouvelable sur leurs propri\u00e9t\u00e9s. Le \nProgramme microFIT couvre les petits \nprojets (micro) produisant 10 kilowatts \n(kW) ou moins; le Programme FIT \npermet des projets de taille moyenne \nproduisant de 10 kW \u00e0 500 kW et de \nplus grands projets produisant plus \nde 500kW. Le Programme MicroFIT \ns\u2019adresse g\u00e9n\u00e9ralement aux propri\u00e9t\u00e9s \u00e0 \n\nusage r\u00e9sidentiel alors que le Programme \nFIT s\u2019applique aux propri\u00e9t\u00e9s non \nr\u00e9sidentielles (par ex.,  industrielles, \ncommerciales, institutionnelles \u2013 terrain \nvacant ou am\u00e9nag\u00e9).  \n\nEn vertu de ces programmes, les \nparticipants re\u00e7oivent un tarif de rachat \ngaranti sur une p\u00e9riode de 20 ans pour \ntoute l\u2019\u00e9lectricit\u00e9 produite et livr\u00e9e au \nr\u00e9seau \u00e9lectrique.\n\nLes candidats admissibles au \nprogramme comprennent notamment, \nmais non exclusivement, les propri\u00e9taires \nparticuliers, les agriculteurs et \ncoop\u00e9ratives agricoles, les coop\u00e9ratives \nd\u2019\u00e9nergie renouvelable, les communaut\u00e9s \nautochtones, les universit\u00e9s, \u00e9coles ou \ncoll\u00e8ges, les h\u00f4pitaux et \u00e9tablissements \nde soins de longue dur\u00e9e, les organismes \n\nPARTIE 1\n\n\u00c9valuer \nL\u2019\u00c9NERGIE \nSOLAIRE\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 31Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nmunicipaux et du secteur public, les \nlogements sociaux et \u00e0 prix abordable et \nles organismes confessionnels. \n\nObligations des participants\nLes parties au contrat du programme \nsont le propri\u00e9taire ou preneur \u00e0 bail et la \nSoci\u00e9t\u00e9 ind\u00e9pendante d\u2019exploitation du \nr\u00e9seau d\u2019\u00e9lectricit\u00e9 (ci-devant l\u2019Ontario \nPower Authority), le contrat liant le \nparticipant et non la propri\u00e9t\u00e9. Comme \nc\u2019est le cas pour toute am\u00e9lioration, le \npropri\u00e9taire doit obtenir tous les permis \nn\u00e9cessaires, y compris les permis et \nautorisations de construction municipaux, \nsi requis, l\u2019approbation de l\u2019Office de la \ns\u00e9curit\u00e9 \u00e9lectrique, etc. Les restrictions \nde zonage et d\u2019utilisation des terres \npeuvent interdire ou limiter l\u2019installation \nde projets PV et, dans certains cas, des \nchangements ou modifications au zonage \npeuvent \u00eatre requis (par ex., de zonage \nagricole \u00e0 industriel). \n\nLe participant a la responsabilit\u00e9 de :\n\ufffd faire une recherche sur l\u2019installation \n\nsolaire qui produira le meilleur \nsyst\u00e8me d\u2019\u00e9nergie renouvelable tout \nen s\u2019assurant que le mat\u00e9riel achet\u00e9 \nsatisfait aux exigences minimales de \ncontenu canadien (ou int\u00e9rieur)  \n(c.-\u00e0-d., 79 % de contenu ontarien \npour les participants de l\u2019Ontario);\n\n\ufffd acheter et faire installer le syst\u00e8me \nd\u2019\u00e9nergie renouvelable; \n\n\ufffd voir \u00e0 ce que toutes les normes \nde s\u00e9curit\u00e9 applicables soient \nrespect\u00e9es, y compris en \ncoordonnant et en payant \nl\u2019inspection du projet par l\u2019Office de \nla s\u00e9curit\u00e9 \u00e9lectrique; \n\n\ufffd travailler avec la soci\u00e9t\u00e9 de \ndistribution d\u2019\u00e9lectricit\u00e9 locale \n(SDEL) afin de raccorder le projet \nau r\u00e9seau \u00e9lectrique et payer tous les \nfrais relatifs au raccordement;\n\n\ufffd installer un compteur s\u00e9par\u00e9 du \ncompteur principal de la propri\u00e9t\u00e9 \nafin de calculer des donn\u00e9es et \npaiements s\u00e9par\u00e9s pour l\u2019\u00e9lectricit\u00e9 \ng\u00e9n\u00e9r\u00e9es selon les modalit\u00e9s du \ncontrat (l\u2019\u00e9lectricit\u00e9 ne peut \u00eatre \npour usage personnel); \n\n\ufffd payer \u00e0 la SDEL tous les frais \nde compte et les honoraires de \ncomptage\/g\u00e9n\u00e9ration;\n\n\ufffd payer tous les frais d\u2019assurance \naff\u00e9rents, ainsi que les honoraires \n\nprofessionnels de conseillers \njuridiques et fiscaux.\n\nLes programmes ont des exigences \nd\u2019admissibilit\u00e9 sp\u00e9cifiques, notamment \nmais non exclusivement : \n\ufffd pour le Programme microFIT, la \n\npropri\u00e9t\u00e9 doit maintenir son statut \nde r\u00e9sidence principale;\n\n\ufffd un syst\u00e8me d\u2019\u00e9nergie solaire mont\u00e9 \nau sol ne peut \u00eatre install\u00e9 sur une \npropri\u00e9t\u00e9 \u00e0 usage r\u00e9sidentiel ou  \n\u00eatre adjacente \u00e0 une propri\u00e9t\u00e9 \u00e0  \nusage r\u00e9sidentiel; \n\n\ufffd un syst\u00e8me d\u2019\u00e9nergie solaire mont\u00e9 \nau sol sur une propri\u00e9t\u00e9 \u00e0 usage \ncommercial ou industriel ne peut \n\u00eatre l\u2019usage premier de la propri\u00e9t\u00e9; \ndes pivots mont\u00e9s au sol ont des \nmod\u00e8les rotatifs qui suivent le \nsoleil pour donner une production \noptimale et qui oscillent ou \ns\u2019inversent; les fixations au sol sont \nmise en place (avec exposition vers \nle sud) pour \u00e9pargner sur les co\u00fbts et \nl\u2019entretien. \n\nUn participant peut \u00eatre un preneur \u00e0 \nbail louant un espace (toiture ou montage \nau sol) d\u2019un propri\u00e9taire pour installer \nun syst\u00e8me PV. \u00c9tant donn\u00e9 qu\u2019il s\u2019agit \nd\u2019un am\u00e9nagement productif de revenu, \nle participant est sujet \u00e0 l\u2019imp\u00f4t et le site \nWeb de l\u2019Agence du revenu du Canada \ndonne des directives sp\u00e9cifiques \u00e0 ce sujet. \n\nLe participant peut \u00eatre, notamment \nmais non exclusivement :\n\ufffd l \u2019acheteur d\u2019une nouvelle \n\npropri\u00e9t\u00e9 installant un syst\u00e8me \nd\u2019\u00e9nergie solaire;\n\n\ufffd l\u2019acheteur d\u2019une propri\u00e9t\u00e9 existante \nayant d\u00e9j\u00e0 un syst\u00e8me ou sur laquelle \nun nouveau syst\u00e8me est ajout\u00e9;  \n\n\ufffd un locataire installant un syst\u00e8me au \nsol ou sur un toit; ou\n\n\ufffd un propri\u00e9taire existant installant  \nun syst\u00e8me.\n\nD\u2019apr\u00e8s les participants au programme \nque j\u2019ai interrog\u00e9s, la plupart ont choisi \nde participer \u00e0 cette  initiative parce que \nleur plan \u00e0 plus long terme est de rester \nsur place, ils n\u2019ont pas l\u2019intention de \nvendre, ils aiment l\u2019id\u00e9e de contribuer \n\u00e0 l\u2019\u00e9cologie de la plan\u00e8te et ils sont \nint\u00e9ress\u00e9s \u00e0 rentabiliser leur avoir. Le co\u00fbt \ninitial d\u2019un syst\u00e8me microFIT de taille \nmoyenne peut varier entre 35 000 et  \n50 000 $ (d\u00e9pendamment de la taille et de \nla qualit\u00e9 des panneaux), mais les donn\u00e9es \n\nde l\u2019industrie montrent que le co\u00fbt peut \n\u00eatre recouvr\u00e9 en 6 \u00e0 8 ans, g\u00e9n\u00e9rant un \nrendement net d\u2019environ 45 000 $ au \ncours\u00a0de la p\u00e9riode de 20 ans du contrat.\n\n\u00c0 propos des panneaux\nAux dires des experts de l\u2019industrie, \non estime \u00e0 20 ans l\u2019esp\u00e9rance de vie \ndes panneaux, ce qui signifie que, avec \nle temps, ils se d\u00e9t\u00e9riorent et que leur \ncapacit\u00e9 de production perd de son \nefficacit\u00e9. Le syst\u00e8me exige peu ou pas \nd\u2019entretien, bien que les conditions \nm\u00e9t\u00e9orologiques puissent limiter la \nproduction d\u2019\u00e9nergie solaire. En ce qui \na trait \u00e0 l\u2019assurabilit\u00e9, de nombreuses \nsoci\u00e9t\u00e9s d\u2019assurance les assurent \u00e0 \ncertaines conditions. \n\nL\u2019exp\u00e9rience  \net la recherche aux \u00c9.-U.\nEn janvier 2015, le Lawrence Berkeley \nNational Laboratory a publi\u00e9 les r\u00e9sultats \nd\u2019une \u00e9tude approfondie couvrant les \nann\u00e9es 2002-2013. L\u2019\u00e9tude a analys\u00e9 \n22 822 r\u00e9sidences, dont 3 951 \u00e9taient \ndot\u00e9es de syst\u00e8mes photovolta\u00efques, et \na examin\u00e9 les ventes\/reventes dans huit \n\u00e9tats. L\u2019\u00e9tude a constat\u00e9 que les acheteurs \nde maison dans les divers \u00e9tats, march\u00e9s \ndu logement et photovolta\u00efques et types \nde r\u00e9sidences (nouvelles et existantes) \n\u00e9taient constamment dispos\u00e9s \u00e0 payer une \nprime suppl\u00e9mentaire pour les propri\u00e9t\u00e9s \nr\u00e9sidentielles dot\u00e9es d\u2019un syst\u00e8me PV sous \ncontrat et que cette prime variait selon \nle march\u00e9. On rapporte que la prime \nmoyenne se situait \u00e0 environ 4 $\/W, soit \n15 000 $ pour un syst\u00e8me PV (r\u00e9sidentiel) \nde taille moyenne de 3,6 kW. Il est \nint\u00e9ressant de noter que l\u2019\u00e9tude a r\u00e9v\u00e9l\u00e9 \nque le march\u00e9 semblait d\u00e9pr\u00e9cier la valeur \ndu syst\u00e8me PV dans ses 10 premi\u00e8res \nann\u00e9es \u00e0 un rythme plus rapide que le \nrythme de perte d\u2019efficacit\u00e9 des panneaux \net que la d\u00e9pr\u00e9ciation lin\u00e9aire de leur  \nvie utile.  \n\nDes syst\u00e8mes PV solaires sont en place \naux \u00c9.-U. depuis 2006. Selon l\u2019\u00e9tude, au \ndeuxi\u00e8me trimestre de 2014, plus d\u2019un \ndemi-million de r\u00e9sidences aux \u00c9.-U. \n\u00e9taient dot\u00e9es de syst\u00e8mes d\u2019\u00e9nergie \nsolaire, plus de  42 000 syst\u00e8mes ayant \n\u00e9t\u00e9 install\u00e9s au cours de ce m\u00eame \ntrimestre (soit quatre fois le nombre de \nsyst\u00e8mes install\u00e9s au cours du deuxi\u00e8me \ntrimestre de 2010). Le march\u00e9 a connu \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201632 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nun taux annuel compos\u00e9 de 76 % dans \nles installations solaires depuis 2006 \n(comparativement \u00e0 un taux de 30 % \nau Canada (SCHL)). Il ne fait aucun \ndoute que cet essor a men\u00e9 \u00e0 la cr\u00e9ation \nde nombreux emplois dans l\u2019industrie \nsolaire aux \u00c9.-U. \n\nCet engouement aux \u00c9.-U. peut \u00eatre \nattribu\u00e9 \u00e0 plusieurs facteurs : \n\ufffd baisse des co\u00fbts d\u2019installation par \n\nsuite d\u2019une forte demande et d\u2019une \ncomp\u00e9tition plus intense;\n\n\ufffd augmentation des options de \nfinancement et de location \u00e0 bail;\n\n\ufffd mesures incitatives f\u00e9d\u00e9rales \nsous forme de cr\u00e9dits d\u2019imp\u00f4t \u00e0 \nl\u2019investissement de 30 % du co\u00fbt \nd\u2019installation brut, ce qui r\u00e9duit \nconsid\u00e9rablement le co\u00fbt initial.\n\nAu Canada, le co\u00fbt des microsyst\u00e8mes \na diminu\u00e9 de pr\u00e8s de 50 % depuis 2009 \net plusieurs options de financement sont \noffertes aux participants. Ces options \ndemeurent toutefois limit\u00e9es par rapport \u00e0 \nce qui est disponible aux \u00c9.-U.  \n\nL\u2019acceptation du march\u00e9 est au c\u0153ur \ndu succ\u00e8s de cette initiative. En effet, \nl\u2019\u00e9tude : \n\ufffd confirme que le march\u00e9 reconna\u00eet \n\nles am\u00e9liorations \u00e9conerg\u00e9tiques et \nque les propri\u00e9taires de maisons qui \ninstallent des syst\u00e8mes d\u2019\u00e9nergie \nsolaire sur leur propri\u00e9t\u00e9 ont \nsouvent apport\u00e9 des am\u00e9liorations \n\u00e9conerg\u00e9tiques ou ont investi dans \nl\u2019\u00e9tat de leur propri\u00e9t\u00e9, de sorte \nqu\u2019il est difficile de d\u00e9gager la valeur \ncontributive du syst\u00e8me PV solaire;\n\n\ufffd montre que la sensibilisation et \nl\u2019acceptation du march\u00e9 se refl\u00e8te \ndans la prime pay\u00e9e et que la \ndiff\u00e9rence dans la prime est nominale \nentre maisons neuves et existantes;\n\n\ufffd montre que la prime PV est \ndemeur\u00e9e relativement constante \ndurant les fluctuations du march\u00e9 \nentre 2002 et 2013.\n\nOn rappelle aux \u00e9valuateurs d\u2019utiliser \nles donn\u00e9es de recherche avec prudence. \nL\u2019\u00e9tude d\u00e9montre l\u2019acceptation du \nmarch\u00e9, mais avec certaines limites. Le \nmarch\u00e9 paiera une prime pour un syst\u00e8me \nqui en est \u00e0 ses dix premi\u00e8res ann\u00e9es, \nmais cette prime diminue rapidement par \nla suite, \u00e0 la lumi\u00e8re de la d\u00e9pr\u00e9ciation \nrapide des panneaux. Au Canada, \net plus particuli\u00e8rement en Ontario, \n\no\u00f9 les programmes microFIT et FIT \nprogrammes sont en place, l\u2019acceptation \ndu march\u00e9 n\u2019a pas encore \u00e9t\u00e9 prouv\u00e9e \net les donn\u00e9es des march\u00e9s r\u00e9sidentiel \net non r\u00e9sidentiel dans une perspective \nde revente demeurent limit\u00e9es dans de \nnombreux march\u00e9s. \n\n \nComment on les \u00e9value  \nen Ontario pour fins fonci\u00e8res \nDans un effort pour encourager \nl\u2019adoption dans le secteur r\u00e9sidentiel, \nla Loi sur l\u2019 \u00e9valuation a \u00e9t\u00e9 modifi\u00e9e \nafin d\u2019assurer que les propri\u00e9taires \nr\u00e9sidentiels qui installent des syst\u00e8mes \nmicroFIT ne seront pas \u00e9valu\u00e9s (et \ntax\u00e9s) pour ces am\u00e9liorations PV. Dans \nl\u2019optique de la Soci\u00e9t\u00e9 d\u2019\u00e9valuation \nfonci\u00e8re des municipalit\u00e9s (SEFM) et de \nla Loi, un syst\u00e8me de 10 kW ou moins \n(microFIT) n\u2019est pas consid\u00e9r\u00e9 comme \nune entreprise de production et les \nvaleurs contributoires des am\u00e9liorations \nPV solaires de la propri\u00e9t\u00e9 ne sont \npas ajust\u00e9es. Pour les installations de \ntaille moyenne produisant 10kW-500 \nkW, le taux\/cat\u00e9gorie d\u2019imposition \nfonci\u00e8re de la propri\u00e9t\u00e9 ne change \npas et la valeur du terrain est calcul\u00e9e \nselon le taux d\u2019\u00e9valuation r\u00e9gulier (et \naucun changement de classification \nn\u2019est requis). Les installations plus \nimportantes produisant plus de 500kW \nsont consid\u00e9r\u00e9es comme des entreprises \nde production et la superficie de terrain \ncouverte par le syst\u00e8me PV devient \nun terrain \u00e0 vocation industrielle. Par \nexemple, sur une terre de 100 acres \nzon\u00e9es terrain agricole dont 25 acres \nsont utilis\u00e9es (ou c\u00e9d\u00e9es \u00e0 bail) pour un \nsyst\u00e8me PV system, 75 acres seraient \n\u00e9valu\u00e9es au taux agricole pertinent et \nla portion couverte par le syst\u00e8me PV, \nc\u2019est-\u00e0-dire 25 acres, serait \u00e9valu\u00e9e au taux \nindustriel. Selon la cat\u00e9gorie originale \nde la propri\u00e9t\u00e9, le changement du taux\/\ncat\u00e9gorie d\u2019imposition pour la portion \ncouverte par le syst\u00e8me pourrait avoir \nd\u2019importantes r\u00e9percussions. \n\nS\u2019ils sont auxiliaires au b\u00e2timent \noriginal et \u00e0 son utilisation, les syst\u00e8mes \nPV install\u00e9s sur un toit n\u2019occasionnent \naucun changement \u00e0 l\u2019\u00e9valuation. Il \nconvient aussi de noter que l\u2019\u00e9valuation \nn\u2019est pas bas\u00e9e sur la production de revenu \ndu syst\u00e8me PV, mais plut\u00f4t sur sa taille et \nson empreinte au sol.   \n\nComment on les finance\nLes participants ont acc\u00e8s \u00e0 diverses \noptions quant au financement de \nsyst\u00e8mes PV. Les fournisseurs de \nsyst\u00e8mes d\u2019\u00e9nergie solaire et les \ninstitutions financi\u00e8res offrent diverses \noptions et produits financiers. Certains \npr\u00eateurs tiendront compte du revenu \nsuppl\u00e9mentaire comme faisant partie \ndu revenu de l\u2019emprunteur aux fins des \nexigences de qualification, alors que \nd\u2019autres consid\u00e8rent ces revenus comme \nun revenu auxiliaire qui n\u2019est pas inclus. \nLa plupart s\u2019abstiennent d\u2019inscrire le \nco\u00fbt de l\u2019installation solaire au compte \nde l\u2019hypoth\u00e8que, optant plut\u00f4t pour un \nfinancement par un instrument s\u00e9par\u00e9 \n(c.-\u00e0-d., marge de cr\u00e9dit hypoth\u00e9caire, \nmarge de cr\u00e9dit ou autre type de pr\u00eat) et \nnon comme une charge \u00e0 l\u2019hypoth\u00e8que.  \n\nRemerciements\nJe tiens \u00e0 remercier sinc\u00e8rement ceux \nqui ont fourni g\u00e9n\u00e9reusement leur temps \net leurs renseignements. Il s\u2019agit des \nmembres de l\u2019ICE Robin Jones, AACI, \nP. App., www.InFocusAppraisals.com, \npr\u00e9sident de l\u2019Association de l\u2019Ontario \nde l\u2019ICE; Ryan R. Parker, B.Comm, \nAACI, P. App., P.Ag, CAFA, associ\u00e9, \nValco Real Estate Appraisers and \nConsultants, rparker@valcoconsultants.\ncom; Financement agricole Canada; \nBanque Royale du Canada; Banque \nScotia; TD Canada Trust; SEFM; et \nplusieurs participants aux programmes. \n\nPour de plus amples renseignements \nou si vous avez des questions \u00e0 ce \nsujet, veuillez communiquer avec \nNathalie Roy-Patenaude, AACI, \nP. App., directrice-conseill\u00e8re, \nPratique professionnelle \u00e0 \ndirectorprofessionalpractice@aicanada.ca \nou au 1-866-726-5996.   \n\nLire PARTIE II : \u00c9valuer \nl\u2019\u00e9nergie solaire afin de mieux \ncomprendre comment ces syst\u00e8mes \nsont \u00e9valu\u00e9s et quelles sont les \nobligations du praticien en vertu \ndes NUPPEC. La PARTIE II sera \npubli\u00e9e dans la publication de \njuin (tome 2, 2016) d\u2019\u00c9valuation \nimmobili\u00e8re au Canada.\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 33Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.InFocusAppraisals.com\nmailto:directorprofessionalpractice@aicanada.ca\n\n\nC hristina Dhesi is a Candidate member of the Appraisal Institute of Canada (AIC). She is working towards her \nAACI designation, while employed as an \nAssociate Appraiser in the Victoria, BC \noffice of Colliers International.\n\nWhat is your background \nrelative to education and \nwork experience?\nCD: In 2009, I graduated from the \nUniversity of Victoria with a Bachelor \nof Arts in English, and a minor in \nBusiness. After working for a couple of \nyears, I joined Colliers five years ago \nas a Research Analyst in the Brokerage \nDivision. That was followed with a \npromotion to an Appraisal Research \nAnalyst position, and subsequently \nto my current role as an Associate \nAppraiser, Valuation and Advisory \nServices, in the Victoria office.\n\nWhat motivated you to choose \nthe appraisal profession?\nCD: I have always had a passion for \nwriting, hence my BA in English. I \nwas attracted to my initial research \nposition with Colliers because it \nrequired analyzing information and \norganizing it into a readable format. \nAs well, my family has commercial \nreal estate interests in Victoria and I \nwanted to enhance my involvement in \nthose interests by acquiring a working \nknowledge and understanding of real \n\nestate valuation. A career in valuation \nwas appealing to me as it offered \nentrepreneurial aspects with a cushioning \nof stability and security relative to a \nbroker profession.\n\nWhat does your current \nposition with Colliers \nInternational entail?\nCD: I am fortunate to be involved in \nall aspects of the profession and work \nwith a great team. Working with clients \nfrom across the country, particularly \non Vancouver Island and around \nVictoria, I am actively involved in \nresearch, analysis, client development, \nappraisal report preparation, and \ncollaboration with multi-faceted teams \nof professionals delivering real estate \nsolutions for our clients. I do not get \ninvolved in residential work, but focus \ninstead on commercial properties such \nas apartments, condominiums, shopping \ncentres, commercial development \nprojects and vacant land. My work is \nvery diverse and interesting. \n\nIn addition to my full time position \nwith Colliers, I am also the company\u2019s \nDirector of Community Investment, \nwhich is a volunteer role charged with \noverseeing how funds raised by our staff \ncan benefit various community projects. \nIn addition, I sit on the Board of our \nColliers Cares Foundation, which strives \nto assist lesser-known charitable causes \nthat are in need of help, but tend to get \noverlooked. \n\n\u201cCOMBINING THE DEMANDS \nOF EDUCATION AND A  \n\nCAREER WAS A DEFINITE \nCHALLENGE THAT FORCED  \n\nME TO BE AS ORGANIZED  \nAS POSSIBLE, TO MAINTAIN \n\nAN AGENDA, AND TO ADHERE  \nTO A DAILY 'TO DO' LIST.  \n\nTIME MANAGEMENT  \nWAS CRITICAL.\u201d\n\nTHE FUTURE IS BRIGHT\n\nSTAYING THE COURSE TO  \nREACH HER GOALS\n\nC H R I S T I N A  D H E S I ,  B A\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201634 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nWhat do you enjoy  \nmost about your job?\nCD: Most definitely it is the satisfaction I \nget from collaborating with other industry \nprofessionals. Working with lenders, \nbrokers, and municipal leaders, among \nothers, I feel like we are working together \nto build a vibrant community and that the \nvaluation component I bring is playing a \nmajor role in making that happen.\n\nAs busy as you are with your \ncareer, where does working \nto earn your designation \nfit into the mix?\nCD: There is no question that it is a \nsignificant challenge, but one that I \nam committed to completing. Being \nemployed full time, while also completing \nthe work experience and the educational \ncourses to obtain my AACI designation, \nrequires a great deal of time management. \nI have completed my two years of applied \nexperience, but have actually had to \npostpone some of the course work due to \nthe demands of my career. Fortunately, \nthe designation program is designed with \nsome flexibility as to when you complete \nthe required courses. Not having a \nBachelor of Commerce degree and the \nbenefits of the -PGCV program means \nthat my road to designation is taking a \nlittle longer. When I achieve that goal \nin the next year or two, my designation \nprocess will probably have taken close to \nsix years. It has been a long process, but \nthe end result will definitely be worth it.\n\nFrom your own personal \nexperience, how would \nyou evaluate the \ndesignation process?\nCD: It is certainly a lengthy process, \nbut nothing worthwhile comes easy or \nwithout hard work. I find the applied \nexperience to be the most beneficial, \nwhile working through the course work \nrequires a great deal of dedication and \neffort. An interesting twist to the process \nis the fact that, as your job responsibilities \n\nin the workplace become more complex, \nso too does the course material. By that \nI mean that the course work and on-the-\njob experience become increasingly \ndemanding on your time and energy, but \nthe benefit is that they align nicely so that \nyour work and the courses start to have \nmore relevance. They tend to feed off  \neach other. \n\nIs there anyone who is \nhelping you along the way?\nCD: I actually have several mentors that \ninclude appraisers, other Candidate \nMembers, real estate brokers, and even \nnational directors from our Colliers \nInternational offices in Vancouver and \nCalgary. From reviewing my work and \nco-signing my appraisals, to answering \nspecific questions and participating in \nweekly phone conversations or meetings \nto talk about things in general, I feel \nvery fortunate to have people who are \nso willing to help me get better and \nultimately succeed. \n\nWhat has been the  \nimpact of these mentors?\nCD: Most importantly, they help me \nkeep my head in the game. There \nare times when you can get very \nfrustrated and feel overwhelmed \nby the sheer volume of \neverything you have on your \nplate. As well, being an appraiser \nin a smaller market sometimes \nleaves me feeling a little isolated. \nFortunately, my mentors \nhave had their own \npersonal experiences that \nthey willingly share with \nme. In many cases, they \nhave been there and \ndone that. Talking to \nthem helps me to get \nback on track and \nstay positive. With \ntheir help, I have \ngained confidence \nalong the way, \nwhich results \n\nin less second-guessing and self-doubt. \nWithout them, I do not know where my \ncareer would be today.\n\nSpeaking of your career \npath, what are your \ncareer aspirations?\nCD: Well, it will be interesting to see \nwhere the AACI path will lead, what \nopportunities will present themselves, \nand what I decide will be the right fit for \nme personally. I like stability, so the idea \nof being a fee appraiser can seem a little \nscary, however, I also enjoy the flexibility \nand entrepreneurial challenges found in \nthe private sector. The great thing about \n\nTHE FUTURE IS BRIGHT\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 35Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nTHE FUTURE IS BRIGHT\n\nan AACI designation is that it can open a \nlot of doors, internally and externally, and \nit will give me a solid foundation to build \na career in commercial real estate.\n\nWhile your career path is \nunfolding, what motivates \nyou to succeed? \nCD: With life in general and with my \nvaluation endeavors, I like to know that \nwhat I am doing is making a positive \nimpact. Whether it is helping people \nget financing for a project or helping \nan important real estate development \ncome to fruition, I like to know that I \nplayed a part and that I am recognized \nfor having done a really good job. \nOh yes, a healthy income is a driving \nfactor and also a measure of success.  \nYoung professionals can be frustrated \nwith entry-level salaries, so this type of \nprofession allows for growth which can \nalso be rapid based on your dedication \nand commitment to succeeding. \nUltimately wanting to contribute to the \nsuccess of my family\u2019s real estate interests \nis a big motivator as well. \n\nDo you see any barriers \nor roadblocks to achieving \nyour career aspirations? \nCD: Probably my biggest concern is \nnot being able to tap into the wealth \nof knowledge that is out there relative \nto our profession. I talked about how \nimportant mentors have been to my \ncareer thus far, however, there is always \nthe concern that such a valuable resource \nmay not always be there for our benefit. \nWith our aging demographic, there is an \nentire generation of knowledgeable and \nexperienced appraisers who are reaching \nretirement and young professionals \nmay not have the opportunity to tap \ninto that resource to the extent that \nwe should. From appraisers who retire \nwithout being asked to share their \nknowledge, to those who are unwilling \nto do so because of the competitive \nnature of our business, it is a challenge \nthat I hope we can overcome.\n\nAre there other challenges that \nyou see facing the profession?\nCD: Two of the biggest challenges that \nI see involve finding ways to grow our \nmembership and finding ways to promote \nand gain recognition for the value and \nworth that appraisers provide. We all \nhave to play a part in spreading the word, \nwhether it is to people looking for a great \ncareer or to potential users of our services. \nAppraisers in general also need to lose \nthe mindset that other appraisers are the \ncompetition. We are all in this together \nand we need to look for ways that we can \nwork together to grow the profession.\n\nYou are doing your part \nby volunteering with the \nAppraisal Institute in BC. \nWhat does that involve?\nCD: I hold a non-voting position on \nthe AIC-BC Board of Directors as the \nProvincial Candidate Representative, \nwhere I serve on the Recruitment \nand Retention Committee.  I am also \nthe provincial Candidate Member \nrepresentative for our local Victoria \nChapter. I want to understand the \nchallenges that appraisers face and help \nto convey the messages that will enable us \nmeet those challenges.\n\nDo you see this kind of \nvolunteer involvement as \nan important part of your \ncareer development?\nCD: Absolutely. Not only does it help \nme be a better appraiser, I truly enjoy \nthe experience of meeting a wide variety \nof interesting people with so much \nto offer. Many of the people I meet \nthrough these volunteer activities are \nlike mentors who expose me to aspects \nof the profession that I might not have \nencountered. This enables me to be \nmuch more comfortable when dealing \nwith the challenges that I face on the \njob. By also being involved in activities \nlike career fairs and attending the AIC\u2019s \nnational conference in Kelowna, I get to \nmeet individuals ranging from students \n\nto long-time appraisers. It puts me \nright in the middle of the best of both \nworlds. While volunteering adds to my \ntime management challenges, it is so \nfulfilling and beneficial that I plan on \ncontinuing with these types of activities \nfor years to come.\n\n \nWhat advice do you have for \npeople entering the profession?\nCD: First and foremost, find a mentor as \nsoon as you possibly can. Even if you are \nnot yet a Candidate Member, befriend an \nappraiser. Invite him or her for coffee or \na lunch. Then, if you decide to pursue an \nappraisal career, or want to make the \nmost of the career you have begun, there \nis someone with whom you can connect.\n\nOnce you begin the designation \nprocess, I also recommend getting your \neducation courses completed as soon as \npossible, even if that means taking on \nmore than you think you can handle. \nCompleting the courses quickly will \ncreate considerably less stress once you \nstart taking on more responsibilities in \nthe workplace.\n\nAs for those workplace \nresponsibilities, take every opportunity \nyou can to gain experience. Whether it \nis data entry, research, cooperating with \nothers on an assignment, or a myriad \nof other tasks, every bit of experience \ngained will help you somewhere down \nthe road. \n\n Finally, lose any sense of \nentitlement. Do what it takes to get \nthrough the designation process, show \nthat you are willing to pay your dues, \nand the rewards will come when you \nare ready. \n\nAs busy as you obviously \nare, how do you spend \nyour personal time?\nCD: Quiet time with family and friends \nis high on the list as is working out and \nplaying golf. But one of the things I enjoy \nthe most is the world of fashion and \nmakeup. It is probably my main hobby \noutside of work.  \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201636 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nL\u2019AVENIR S\u2019ANNONCE BRILLANT\n\nC hristina Dhesi est membre stagiaire de l\u2019Institut canadien des \u00e9valuateurs (ICE). Elle travaille \u00e0 l\u2019obtention de son titre AACI, \nalors qu\u2019elle est employ\u00e9e comme \u00e9valuatrice \nassoci\u00e9e au bureau de Colliers International, \n\u00e0 Victoria, C.-B.\n\nQuels sont vos ant\u00e9c\u00e9dents \nen mati\u00e8re d\u2019\u00e9tude et \nd\u2019exp\u00e9rience de travail ?\nCD : En 2009, j\u2019ai obtenu un baccalaur\u00e9at \ndes arts en anglais, avec concentration \nmineure en affaires, \u00e0 l\u2019Universit\u00e9 de \nVictoria. Apr\u00e8s avoir travaill\u00e9 quelques \nann\u00e9es, je me suis jointe \u00e0 Colliers, il y a \ncinq ans, comme analyste de la recherche \n\u00e0 la division de courtage. Je fus ensuite \npromue au poste d\u2019analyste de la recherche \nsur l\u2019\u00e9valuation, puis \u00e0 mon poste \nactuel d\u2019\u00e9valuatrice associ\u00e9e, services \nd\u2019\u00e9valuation et de conseil, au bureau de \nVictoria.\n\nQu\u2019est-ce qui vous a incit\u00e9e \n\u00e0 choisir la profession \nd\u2019\u00e9valuatrice ?\nCD : J\u2019ai toujours eu une passion pour \nl\u2019\u00e9criture, de l\u00e0 mon B.A. en anglais. J\u2019ai \n\u00e9t\u00e9 attir\u00e9e vers mon premier poste en \nrecherche chez Colliers, car il demandait \nd\u2019analyser des informations et de les \norganiser sous forme compr\u00e9hensible. \nEn outre, ma famille d\u00e9tient des int\u00e9r\u00eats \nimmobiliers commerciaux \u00e0 Victoria et je \nvoulais m\u2019impliquer davantage dans ces \nint\u00e9r\u00eats en acqu\u00e9rant des connaissances \n\nGARDER LE CAP  \nPOUR ATTEINDRE SES BUTS\n\nC H R I S T I N A  D H E S I ,  B . A .\n\npratiques et en comprenant l\u2019\u00e9valuation \nimmobili\u00e8re. Une carri\u00e8re en \u00e9valuation \nme souriait, car elle offrait des aspects \nentrepreneuriaux, avec un coussin de \nstabilit\u00e9 et de s\u00e9curit\u00e9 pour la profession \nde courti\u00e8re.\n\nQue faites-vous \u00e0 votre \nposte actuel chez Colliers \nInternational ?\nCD : J\u2019ai la chance de participer \u00e0 tous les \naspects de la profession et d\u2019\u00e9voluer au \nsein d\u2019une excellente \u00e9quipe. Travaillant \navec des clients de tout le pays, \nnotamment sur l\u2019\u00eele de \nVancouver et dans la \nr\u00e9gion de Victoria, \nje suis activement \nimpliqu\u00e9e en \nrecherche, \nanalyse, \nd\u00e9veloppement \nde la client\u00e8le, \npr\u00e9paration \nde rapports \nd\u2019\u00e9valuation et \ncollaboration \navec des \n\u00e9quipes de \n\n\u00ab ALLIER LES EXIGENCES  \nDE FORMATION \u00c0 LA \n\nCARRI\u00c8RE FUT UN  \nV\u00c9RITABLE D\u00c9FI QUI M\u2019A \nFORC\u00c9 \u00c0 \u00caTRE LE PLUS \n\nORGANIS\u00c9 POSSIBLE, POUR \nSUIVRE UN AGENDA ET UNE \n\nLISTE QUOTIDIENNE DE \nCHOSES \u00c0 FAIRE. LA GESTION \nDU TEMPS A \u00c9T\u00c9 CRITIQUE. \u00bb\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 37Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nL\u2019AVENIR S\u2019ANNONCE BRILLANT\n\nprofessionnels multidisciplinaires \nlivrant des solutions immobili\u00e8res \u00e0 \nnos clients. Je ne travaille pas du c\u00f4t\u00e9 \nr\u00e9sidentiel, me concentrant surtout sur \nles biens immobiliers commerciaux tels \nappartements, condominiums, centres \ncommerciaux, projets de d\u00e9veloppement \ncommercial et terrains vacants. Mon \ntravail est tr\u00e8s vari\u00e9 et int\u00e9ressant.\n\nEn plus de mon poste \u00e0 plein temps \nchez Colliers, je suis \u00e9galement directrice \nde l\u2019investissement communautaire \u00e0 la \ncompagnie, qui est un r\u00f4le b\u00e9n\u00e9vole o\u00f9 \nje supervise comment les fonds recueillis \npar notre personnel peuvent b\u00e9n\u00e9ficier \naux diff\u00e9rents projets communautaires. \nJe si\u00e8ge \u00e9galement au conseil de notre \nFondation Colliers Cares, qui s\u2019efforce de \nsoutenir les causes de bienfaisance moins \nconnues qui ont besoin d\u2019aide, mais qui \nont tendance \u00e0 \u00eatre n\u00e9glig\u00e9es.\n\nQu\u2019est-ce qui vous pla\u00eet  \nle plus dans votre emploi ?\nCD : Tr\u00e8s certainement, c\u2019est la \nsatisfaction que je retire de la \ncollaboration avec d\u2019autres professionnels \nde l\u2019industrie. Travailler avec des \npr\u00eateurs, des courtiers et des dirigeants \nmunicipaux, entre autres, me donne le \nsentiment que nous joignons nos forces \npour b\u00e2tir une communaut\u00e9 dynamique \net que l\u2019\u00e9l\u00e9ment \u00e9valuation que j\u2019apporte \njoue un r\u00f4le important pour y arriver.\n\nVous \u00eates d\u00e9j\u00e0 tr\u00e8s occup\u00e9e \navec votre carri\u00e8re, o\u00f9 \ntrouvez-vous le temps pour \nobtenir votre titre AACI ?\nCD : Pas de doute que c\u2019est un grand \nd\u00e9fi \u00e0 relever, mais je suis d\u00e9termin\u00e9e \n\u00e0 le faire. Employ\u00e9e \u00e0 plein temps, en \namassant l\u2019exp\u00e9rience de travail et en \nsuivant les cours pour d\u00e9crocher mon titre \nAACI, il faut savoir g\u00e9rer son temps. J\u2019ai \ncompl\u00e9t\u00e9 mes deux ann\u00e9es d\u2019exp\u00e9rience \nappliqu\u00e9e, mais j\u2019ai d\u00fb remettre \u00e0 plus tard \ncertains cours \u00e0 cause des exigences de ma \ncarri\u00e8re. Heureusement, le programme de \nd\u00e9signation est flexible quant au moment \no\u00f9 les cours exig\u00e9s doivent \u00eatre compl\u00e9t\u00e9s. \n\nComme je n\u2019ai pas de baccalaur\u00e9at en \ncommerce et les avantages du programme \nPGCV, ma route vers un titre est un peu \nplus longue. Quand j\u2019atteindrai mon but \ndans un an ou deux, mon processus de \nd\u00e9signation aura probablement pris pr\u00e8s \nde six ans. C\u2019est un long cheminement, \nmais le r\u00e9sultat final en vaudra \ncertainement la peine.\n\nD\u2019apr\u00e8s votre exp\u00e9rience \npersonnelle, comment \n\u00e9valueriez-vous le processus \nde d\u00e9signation ?\nCD : C\u2019est s\u00fbrement un exercice qui prend \ndu temps, mais rien qui a de la valeur ne \nvient facilement ou sans travailler fort. \nJe consid\u00e8re que l\u2019exp\u00e9rience appliqu\u00e9e \nest la plus b\u00e9n\u00e9fique, alors que suivre les \ncours demande beaucoup d\u2019engagement \net d\u2019efforts. Une chose plut\u00f4t int\u00e9ressante \nau sujet du processus, c\u2019est qu\u2019\u00e0 mesure \nque les responsabilit\u00e9s de votre emploi \ndeviennent plus complexes sur le \nlieu de travail, la mati\u00e8re des cours le \ndevient \u00e9galement. Je veux dire par l\u00e0 \nque les travaux de cours et l\u2019exp\u00e9rience \nprofessionnelle sont de plus en plus \nexigeants en termes de temps et d\u2019\u00e9nergie, \nmais le b\u00e9n\u00e9fice est qu\u2019ils s\u2019alignent \nbien et, donc, votre travail et vos cours \ncommencent \u00e0 avoir plus de pertinence. \nIls tendent \u00e0 se nourrir l\u2019un l\u2019autre.\n\nEst-ce que quelqu\u2019un  \nvous aide dans votre parcours ?\nCD : En r\u00e9alit\u00e9, j\u2019ai plusieurs mentors, \nincluant des \u00e9valuateurs, d\u2019autres \nmembres stagiaires, des courtiers \nimmobiliers et m\u00eame des directeurs \nnationaux de nos bureaux de Colliers \nInternational \u00e0 Vancouver et Calgary. Des \nexamens de mon travail \u00e0 la cosignature \nde mes \u00e9valuations, en passant par la \nr\u00e9ponse \u00e0 des questions sp\u00e9cifiques, \n\u00e0 des conversations t\u00e9l\u00e9phoniques \nhebdomadaires ou \u00e0 des rencontres pour \nparler de tout et de rien, je suis tr\u00e8s \nchanceuse de pouvoir compter sur des \ngens si d\u00e9sireux de m\u2019aider \u00e0 m\u2019am\u00e9liorer \net \u00e0 conna\u00eetre le succ\u00e8s.\n\nQuelle a \u00e9t\u00e9  \nl\u2019impact de ces mentors ?\nCD : Le plus important, c\u2019est qu\u2019ils \nm\u2019aident \u00e0 rester engag\u00e9e dans la bataille. \nParfois, je peux devenir tr\u00e8s frustr\u00e9e et \nme sentir submerg\u00e9e par la quantit\u00e9 de \nchoses \u00e0 faire. De plus, \u00eatre \u00e9valuatrice \ndans un plus petit march\u00e9 me donne \nquelquefois un sentiment d\u2019isolement. \nHeureusement, mes mentors ont v\u00e9cu des \nexp\u00e9riences personnelles qu\u2019ils partagent \nvolontiers avec moi. Dans plusieurs cas, \nils ont rencontr\u00e9 les m\u00eames \u00e9cueils. En \nparlant avec eux, je peux me remettre en \npiste et demeurer positive. Avec leur aide, \nje suis devenue plus confiante dans mon \ncheminement, me remettant moins en \nquestion et doutant moins de moi-m\u00eame. \nSans eux, je ne sais pas o\u00f9 en serait ma \ncarri\u00e8re aujourd\u2019hui.\n\nParlant de votre cheminement \nde carri\u00e8re, quels sont \nvos aspirations ?\nCD : Eh bien, ce sera int\u00e9ressant \nd\u2019imaginer o\u00f9 le sentier AACI m\u00e8nera, \nquelles opportunit\u00e9s se pr\u00e9senteront et \nce que je d\u00e9ciderai selon mes affinit\u00e9s. \nJ\u2019aime la stabilit\u00e9, alors l\u2019id\u00e9e d\u2019\u00eatre une \n\u00e9valuatrice \u00e0 honoraires peut sembler \nintimidante; mais j\u2019aime aussi la flexibilit\u00e9 \net les d\u00e9fis entrepreneuriaux que l\u2019on \ntrouve dans le secteur priv\u00e9. Le grand \navantage d\u2019un titre AACI, c\u2019est qu\u2019il \npeut ouvrir bien des portes, \u00e0 l\u2019interne \net \u00e0 l\u2019externe, et qu\u2019il me donnera une \nfondation solide pour b\u00e2tir une carri\u00e8re \ndans l\u2019immobilier commercial.\n\nAlors que votre carri\u00e8re se \nd\u00e9veloppe, qu\u2019est-ce qui \nvous motive \u00e0 r\u00e9ussir ?\nCD : Avec la vie en g\u00e9n\u00e9ral et mes activit\u00e9s \ntouchant l\u2019\u00e9valuation, j\u2019aime savoir que ce \nque je fais a un impact positif. Que ce soit \naider quelqu\u2019un \u00e0 obtenir du financement \npour un projet ou participer \u00e0 la \nr\u00e9ussite d\u2019un important d\u00e9veloppement \nimmobilier, je tire beaucoup de \nsatisfaction d\u2019avoir fait ma part et d\u2019\u00eatre \nreconnue pour avoir abattu de la bonne \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201638 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nL\u2019AVENIR S\u2019ANNONCE BRILLANT\n\nbesogne. Oh oui, un bon revenu est un \nfacteur de motivation et une mesure de \nsucc\u00e8s. Les jeunes professionnels peuvent \n\u00eatre frustr\u00e9s avec les salaires d\u2019entr\u00e9e, alors \ncette profession permet la croissance, qui \npeut aussi \u00eatre rapide si vous mettez tout \nvotre c\u0153ur et vos efforts pour r\u00e9ussir. Et \nen bout de ligne, vouloir contribuer au \nsucc\u00e8s des int\u00e9r\u00eats immobiliers de ma \nfamille est tr\u00e8s motivant.\n\nDes barri\u00e8res ou des  \nobstacles vous emp\u00eachent-ils \nde r\u00e9aliser vos aspirations \nprofessionnelles ?\nCD : Ma plus grande crainte, c\u2019est \nprobablement de ne pas pouvoir puiser \ndans le grand bassin de connaissances \nqui existent au sujet de notre profession. \nJ\u2019ai parl\u00e9 de l\u2019importance qu\u2019ont eue mes \nmentors pour ma carri\u00e8re jusqu\u2019ici, mais \nj\u2019ai peur qu\u2019une ressource aussi pr\u00e9cieuse \nne soit pas toujours disponible pour nous \nd\u00e9panner en cas de besoin. Avec notre \npopulation vieillissante, il y a toute une \ng\u00e9n\u00e9ration d\u2019\u00e9valuateurs bien renseign\u00e9s \net exp\u00e9riment\u00e9s qui arrivent \u00e0 l\u2019\u00e2ge de \nla retraite, et les jeunes professionnels \nn\u2019auront peut-\u00eatre pas la chance de \ns\u2019enrichir aupr\u00e8s d\u2019eux autant qu\u2019ils le \npourraient. Des \u00e9valuateurs prennent \nleur retraite sans qu\u2019on leur demande de \npartager leurs connaissances, d\u2019autres ne \nveulent pas le faire en raison de la nature \nconcurrentielle dans notre industrie. Je \nprie que nous puissions surmonter cet \nobstacle, pour le plus grand bien de tous.\n\nSelon vous, la profession devra-\nt-elle relever d\u2019autres d\u00e9fis ?\nCD : Deux des plus grands d\u00e9fis que \nje vois, c\u2019est de trouver des moyens \nd\u2019augmenter le nombre de membres \net des outils pour promouvoir et \nfaire reconna\u00eetre l\u2019utilit\u00e9 et la valeur \nqu\u2019apportent les \u00e9valuateurs. Nous \navons tous un r\u00f4le \u00e0 jouer pour r\u00e9pandre \nla bonne nouvelle, que ce soit aupr\u00e8s \ndes gens qui souhaitent faire une belle \ncarri\u00e8re ou des utilisateurs potentiels \nde nos services. Les \u00e9valuateurs en \n\ng\u00e9n\u00e9ral doivent cesser de voir les autres \n\u00e9valuateurs comme des concurrents. \nNous sommes tous dans le m\u00eame bateau \net nous devons chercher des fa\u00e7ons de \ntravailler ensemble pour la croissance de la \nprofession.\n\nVous faites votre part en \nfaisant du b\u00e9n\u00e9volat \u00e0 \nl\u2019Institut d\u2019\u00e9valuation en \nColombie-Britannique. Que \nfaites-vous exactement ?\nCD : J\u2019occupe un poste sans droit de vote \nau conseil d\u2019administration de l\u2019ICE-\nC.-B., \u00e0 titre de repr\u00e9sentante provinciale \ndes stagiaires, o\u00f9 je si\u00e8ge au comit\u00e9 de \nrecrutement et de maintien en fonction. Je \nsuis \u00e9galement repr\u00e9sentante provinciale \ndes membres stagiaires \u00e0 notre chapitre \nlocal de Victoria. Je veux comprendre \nles d\u00e9fis qui attendent les \u00e9valuateurs et \naider \u00e0 transmettre les messages qui nous \npermettront de les relever.\n\nVoyez-vous ce type \nd\u2019engagement b\u00e9n\u00e9vole comme \nune partie importante de votre \navancement professionnel ?\nCD : Absolument. Non seulement \u00e7a \nm\u2019aide \u00e0 devenir une meilleur \u00e9valuatrice, \nmais j\u2019aime beaucoup rencontrer une \ngrande diversit\u00e9 de personnes int\u00e9ressantes \nqui ont tant \u00e0 offrir. Beaucoup de gens \nque je rencontre dans le cadre de ces \nactivit\u00e9s b\u00e9n\u00e9voles sont comme des \nmentors qui me font d\u00e9couvrir des aspects \nde la profession que je ne connais peut-\n\u00eatre pas. Cela me rend bien plus confiante \ndans la gestion quotidienne des difficult\u00e9s \nque je rencontre au travail. En participant \naussi \u00e0 des activit\u00e9s comme les salons \ndes carri\u00e8res et la conf\u00e9rence nationale \nde l\u2019ICE \u00e0 Kelowna, je rencontre toutes \nsortes de gens, allant des \u00e9tudiants aux \n\u00e9valuateurs aguerris. Je suis plong\u00e9e dans \nle meilleur des deux mondes. M\u00eame si \nle b\u00e9n\u00e9volat complique ma gestion du \ntemps, c\u2019est tellement satisfaisant et \nb\u00e9n\u00e9fique que je compte poursuivre ces \ntypes d\u2019activit\u00e9s dans les nombreuses \nann\u00e9es \u00e0 venir.\n\nQuels conseils avez-vous  \npour ceux et celles qui \nd\u00e9butent dans la profession ?\nCD : D\u2019abord et avant tout, trouvez un \nmentor aussit\u00f4t que vous le pouvez.  \nM\u00eame si vous n\u2019\u00eates pas encore membre \nstagiaire, liez-vous d\u2019amiti\u00e9 avec un \n\u00e9valuateur. Invitez-le \u00e0 prendre le  \ncaf\u00e9 ou \u00e0 d\u00eener. Puis, si vous d\u00e9sirez \npoursuivre une carri\u00e8re en immobilier  \nou tirer le meilleur  profit de la carri\u00e8re \nque vous avez d\u00e9but\u00e9e, voil\u00e0 quelqu\u2019un \navec qui vous pouvez correspondre.\n\nApr\u00e8s avoir entrepris le processus  \nde d\u00e9signation, je vous recommande \naussi de terminer vos cours de p\u00e9dagogie \naussit\u00f4t que possible, m\u00eame si \u00e7a  \nsignifie en prendre plus que ce que  \nvous croyez pouvoir faire. En terminant \nles cours rapidement, vous serez  \nbeaucoup moins stress\u00e9 quand vous \ncommencerez \u00e0 prendre plus de \nresponsabilit\u00e9s sur le lieu de travail.\n\nParlant des responsabilit\u00e9s en  \nmilieu de travail, profitez de toutes \nles occasions possibles pour acqu\u00e9rir \nde l\u2019exp\u00e9rience. Que ce soit entrer des \ndonn\u00e9es, faire des recherches, coop\u00e9rer \navec des coll\u00e8gues dans un contrat de \nservice ou pour mille autres t\u00e2ches, \nchaque minute d\u2019exp\u00e9rience acquise  \nvous aidera pour l\u2019avenir.\n\nEnfin, ne croyez pas que tout vous  \nest d\u00fb. Faites ce qu\u2019il faut pour arriver  \nau bout du processus de d\u00e9signation,  \nmontrez que vous \u00eates dispos\u00e9 \u00e0 payer  \nle prix et les r\u00e9compenses viendront \nd\u2019elles-m\u00eames lorsque vous  \nserez pr\u00eat.\n\nVous \u00eates manifestement \ntr\u00e8s occup\u00e9e, que faites-vous \npour vous d\u00e9tendre ?\nCD : Les p\u00e9riodes calmes avec  \nfamille et amis sont une priorit\u00e9,  \nainsi que l\u2019exercice et le golf.  \nMais l\u2019une des choses que j\u2019aime le  \nplus est l\u2019univers de la mode du \nmaquillage. C\u2019est probablement mon \npasse-temps favori en dehors  \ndu travail. \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 39Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nLEGAL MATTERS\n\nIntroduction\nThis is the second part of a consideration \nof the phrase \u2018good faith\u20191 in the Appraisal \nInstitute of Canada (AIC) Code of \nConduct (Code):\n\nMembers of the AIC pledge to \nconduct themselves in a manner \nthat is not detrimental to the public, \nthe AIC or its members, or the \nreal property appraisal profession. \nMembers\u2019 relationships with other \nmembers, the AIC and the public \nshall be governed by courtesy and \ngood faith and respect the AIC and \nits procedures.  [Emphasis added.]\n\nRegulation 5.1.2 of the Consolidated \nRegulations (2014) of the AIC \n(Regulations) and Canadian Uniform \nStandard Professional Appraisal Practices \n(CUSPAP) Ethics Standard Rule 4.1 also \nrefer to good faith.\n\nIn the previous article, the Supreme \nCourt of Canada decision in Bhasin \nv. Hrynew 2014 SCC 71 (Bhasin) was \nreviewed to determine the extent of the \nobligation of good faith in contractual \nrelations. The court recognized a new \ncommon law duty in relation to good \nfaith. It is a duty to honestly perform \ncontractual obligations and to avoid \nconduct that would frustrate the \nreasonable commercial expectations of \nthe parties.\n\nWhile Bhasin provides direction to AIC \nmembers regarding contractual relations, \nthis is only one aspect of the obligation \n\nof good faith in the Code. The obligation \nexists whether or not there is a contract.\n\nDirection from the courts\nA computerized search of Canadian \nfederal statutes for the phrase \u2018good faith\u2019 \nresults in 498 hits covering a wide variety \nof legislation. A similar magnitude of \nhits would be found in provincial and \nterritorial legislation. The use of the \nphrase \u2018good faith\u2019 is pervasive in our \nlaws. However, a crisp articulation of \ngood faith is elusive.\n\nThe phrase has no technical \nmeaning.2 Often, statutory definitions \ndo no more than equate good faith with \nhonesty. Other definitions go a little \nfurther saying that an act is performed \nin good faith if done honestly, whether \nnegligently or not.3\n\nSome courts have juxtaposed \u2018good \nfaith\u2019 with \u2018bad faith,\u2019 stating that the \nformer is merely the absence of the \nlatter.4 With respect, this simply leads \none to ask what is meant by \u2018bad faith.\u2019 \nAnother approach is to rely upon legal \ndictionaries such as Black\u2019s Law Dictionary.\n\nIt is sometimes said that the \nrequirement of good faith is twofold: \na) honest statements or conduct and b) \nno ulterior motive.5 Good faith can go \nbeyond personal honesty and absence \nof malice. It may require some other \nquality, state of mind or knowledge. \nGood faith is more than \u2018honest \nineptitude.\u20196\n\n\"IT IS QUITE COMMON \nFOR QUESTIONS TO ARISE \nOVER THE OWNERSHIP OF \nBUILDINGS, STRUCTURES \n\nAND OTHER ITEMS THAT  \nARE ON THE LAND AT THE \n\nTIME OF SALE OR AT  \nTHE END OF A TENANCY.\" \n\nAPPRAISER\u2019S REQUIREMENT  \nOF \u2018GOOD FAITH\u2019\nPart 2 - Non-contractual \u2018good faith\u2019\n\nB Y  J O H N  S H E V C H U K ,  C . A R B ,  A A C I  ( H O N ) ,  R I\nV OLUN T EER MEMBER, A PPE A L SUB-COMMI T T EE , B A RRIS T ER &#038; S OL ICI TOR\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201640 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nOne judge observed that \u201c... good \nfaith is founded on honesty. It is not \nequivalent to saintliness. It is not \ndevoid of self-interest... \u201d7  \u201cNegligence, \nstupidity, or blindness to what others \nmight be well able to see are not \nequivalent to lack of good faith.\u201d8\n\nIn the absence of any particular \ncontext, the core of \u2018good faith\u2019 is \nhonesty. Circumstances dictate the \nnature and extent of the obligation.\n\nAIC Professional Practice \nCommittees will find direction from the \nfollowing:9\n\n66  ... The concept of good faith has \nbeen defined in various ways: \n\n\u201cA thing is deemed to be done in \ngood faith if it is done honestly, whether \nor not it is done negligently.\u201d \n\n\u201cGood faith: Honesty of intention, \nand freedom from knowledge of \ncircumstances which ought to put the \nholder on inquiry.\u201d\n\n67   Honestly considering known \nfacts before rendering a decision is \nanother hallmark of acting in good \nfaith. By contrast, a board that acts \nunreasonably and arbitrarily and without \nthe degree of fairness, openness, and \nimpartiality required of it may be found \nto have acted in bad faith.\n\nAn alternative expression of the \ngood faith obligation for those \nexercising powers and duties analogous \nto AIC Professional Practice \ncommittees follows:10\n\nThe absence of good faith may \nbe found in a reckless or capricious \napproach to the exercise of the power \nin question. The term \u2018good faith\u2019 is \nnot to be considered in isolation from \nthe process to which it is applied ... An \nhonest attempt to exercise the power is \nnot demonstrated merely by the absence \nof dishonesty or malice or personal \ninterest ... Good faith requires more than \nthe absence of bad faith. It requires a \nconscientious approach to the exercise  \nof power.\n\nRegulation 5.9 (Member on Member \nComplaints) contemplates sanctions \n\nfor AIC members making complaints \nagainst other AIC members in the \nabsence of good faith. A court decision \nrelating to complaints under securities \nlegislation may provide some insight \ninto what good faith requires in the \ncontext of Regulation 5.9.11 The \nmember originating the complaint \nshould expect to have to establish an \nhonest belief arising after considering \nsufficient information that there \nwas a violation of the Bylaws, Code, \nRegulations, Policies or CUSPAP.12\n\nAIC members\u2019  \nobligation of good faith\nCertain relationships automatically \nimport good faith. Employment, \ninsurance, franchising and construction \ntendering are examples. Bhasin extended \nthe law by establishing that good faith is \nnecessary in every contract situation.\n\nAIC members voluntarily accept the \nrequirement of good faith, but they \nhave not delineated the characteristics \nof their obligation.\n\nAt a minimum, an AIC member\u2019s \nobligation of good faith, as set out \nin the Code, demands honesty and \ncandour in one\u2019s dealings with \nothers. Depending on the context, \nit can mean more. Good faith will \nnot be demonstrated where one \nis reckless or turns a blind eye to \ncircumstances. Once a member is fixed \nwith knowledge, good faith will be \ndemonstrated if actions are consistent \nwith an effort to act honestly, and \nlikely without ulterior motive, in the \nface of that knowledge.\n\nPerhaps a good working definition \nof \u2018good faith\u2019 satisfactory for the \npurposes of the Code is that which \nappears in the 9th edition of Black\u2019s \nLaw Dictionary:13\n\nA state of mind consisting in  \n(1) honesty in belief or purpose,  \n(2) faithfulness to one\u2019s duty or obligation, \n(3) observance of reasonable commercial \nstandards of fair dealing in a given trade \nor business, or (4) absence of intent \n\nto defraud or to seek unconscionable \nadvantage. \u2013 Also termed bona fides.\n\nReferences\n1 Canadian Property Valuation, Vol. \n\n59, Book 2, 2015, page 34\n2  Discovery Enterprises Inc. v. Ebco \n\nIndustries Ltd., [2002] B.C.J. No. \n1957 (B.C.S.C.)\n\n3  Examples:  Sale of Goods Act, R.S.A. \n2000, c. S-2, s. 2(1); Sale of Goods \nAct, R.S.B.C. 1996, c. 410, s. 2; Sale \nof Goods Act, R.S.O. 1990, c. S.1, s. \n1(2)\n\n4  Mogridge v. Clapp,[1892] 3 Ch 382 \nat 391 [UK]\n\n5  See for example Central Estates \n(Belgravia) Ltd v Woolgar [1971] 3 \nAll ER 647, [1972] 1 QB 48 at 55\n\n6  Mid Density Developments Pty Ltd v. \nRockdale Municipal Council (1993), \n44 FCR 290 at 299-300; 116 ALR \n460 at 468-469\n\n7  1172773 Ontario Ltd. v. Bernstein, \n[2000] O.J. No. 4102 (Ont.S.C.J.) at \npara. 38\n\n8  Official Trustee in Bankruptcy v. \nMitchell (1992), 16 Fam LR 87 at 95 \n[Aust.]\n\n9  Vigliotti v. Canada (Attorney \nGeneral), [2001] O.J. No. 2845 \n(Ont.S.C.J.)\n\n10 Applicant WAFV of 2002 v. Refugee  \n Review Tribunal, BC200300027  \n [2003] FCA 16 at [39]\n\n11 Silver v. Imax Corp, 2009  \n  CarswellOnt 874 (Ont. S.C.J.)\n\n12 Consolidated Regulations (2014) of  \n  the Appraisal Institute of Canada,  \n  clauses 5.1.1 - 5.1.5\n\n13 St. Paul:  West Publishing Co.,   \n  2004, Thomson Reuters, 2009\n\nLEGAL MATTERS\n\nThis article is provided for the purposes \nof generating discussion. It is not to be \ntaken as legal advice. Any questions \narising from this article in particular \ncircumstances should be put to qualified \nlegal and appraisal practitioners. \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 41Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nQUESTIONS JURIDIQUES\n\nIntroduction\nCe document est la deuxi\u00e8me partie d\u2019une \nconsid\u00e9ration de l\u2019expression \u00ab bonne foi \u00bb dans \nle Code de conduite (le Code) de l\u2019Institut \ncanadien des \u00e9valuateurs (ICE) :   \n\nLes membres de l\u2019Institut canadien \ndes \u00e9valuateurs (ICE) s\u2019engagent \u00e0 se \nconduire d\u2019une mani\u00e8re qui ne portera \npas pr\u00e9judice au public, \u00e0 l\u2019ICE ou \n\u00e0 ses membres, ou \u00e0 la profession \nd\u2019\u00e9valuateur immobilier. Les relations \ndes membres avec d\u2019autres membres, \navec l\u2019ICE et avec le public doivent \n\u00eatre marqu\u00e9es par la courtoisie et la \nbonne foi, en plus de respecter l\u2019ICE \net ses proc\u00e9dures. [Emphase ajout\u00e9e.]\n\nLe r\u00e8glement 5.1.2 des R\u00e8glements \nconsolid\u00e9s (2014) de l\u2019ICE (les R\u00e8glements) \net la r\u00e8gle 4.1 de la Norme relative aux \nquestions d\u2019\u00e9thique des Normes uniformes \nde pratique professionnelle en mati\u00e8re \nd\u2019 \u00e9valuation au Canada (NUPPEC) font \naussi r\u00e9f\u00e9rence \u00e0 la notion de bonne foi.\n\nDans l\u2019article pr\u00e9c\u00e9dent, nous avons \nexamin\u00e9 la d\u00e9cision de la Cour supr\u00eame \ndu Canada dans Bhasin c. Hrynew 2014 \nSCC 71 (Bhasin) afin de d\u00e9terminer la \nport\u00e9e de l\u2019obligation de bonne foi dans \ndes relations contractuelles. La cour a \nreconnu un nouveau devoir en common \nlaw en ce qui a trait \u00e0 la bonne foi.  Il est \nobligatoire de s\u2019acquitter honn\u00eatement \ndes obligations contractuelles et d\u2019\u00e9viter \nune conduite qui pourrait frustrer les \nattentes commerciales raisonnables des \nparties. \n\nAlors que l\u2019affaire Bhasin \u00e9met \nune directive aux membres de l\u2019ICE \nconcernant les relations contractuelles, \nce n\u2019est l\u00e0 qu\u2019un aspect de l\u2019obligation \n\nde bonne foi du Code. L\u2019obligation existe \nqu\u2019il y ait contrat ou non.\n\nDirective des tribunaux\nUne recherche informatique de \nl\u2019expression \u00ab bonne foi \u00bb dans les \nstatuts f\u00e9d\u00e9raux canadiens a d\u00e9gag\u00e9 498 \ncas couvrant un large \u00e9ventail de lois. \nUne recherche des lois provinciales et \nterritoriales livrerait les m\u00eames r\u00e9sultats. \nOn retrouve l\u2019expression \u00ab bonne foi \u00bb \npartout dans nos lois. Toutefois, il est \ndifficile de cerner clairement la notion de \nbonne foi.\n\nL\u2019expression n\u2019a pas de signification \ntechnique.1 Souvent, les d\u00e9finitions \npr\u00e9vues par la loi ne font rien de plus que \nd\u2019\u00e9tablir une \u00e9quivalence entre bonne \nfoi et honn\u00eatet\u00e9. D\u2019autres d\u00e9finitions \nvont un peu plus loin, pr\u00e9cisant qu\u2019un \ngeste est pos\u00e9 de bonne foi s\u2019il est fait \nhonn\u00eatement, n\u00e9gligemment ou non.2\n\nCertains tribunaux ont juxtapos\u00e9 \n\u00ab bonne foi \u00bb avec \u00ab mauvaise foi \u00bb, \nd\u00e9clarant que la premi\u00e8re est simplement \nl\u2019absence de la seconde.3 Ce qui nous \nam\u00e8ne \u00e0 nous demander tout simplement \nce qu\u2019on entend par \u00ab mauvaise foi \u00bb. Une \nautre approche consiste \u00e0 se fier sur les \ndictionnaires juridiques tels le Black\u2019s \nLaw Dictionary.\n\nOn dit parfois que l\u2019exigence de \nbonne foi a deux volets : a) d\u00e9clarations \net conduites honn\u00eates et b) sans arri\u00e8re-\npens\u00e9e.4 La bonne foi peut aller au-del\u00e0 \nde l\u2019honn\u00eatet\u00e9 personnelle et de l\u2019absence \nde malice. Elle peut exiger d\u2019autres \nqualit\u00e9s, \u00e9tats d\u2019esprit ou connaissances. \nLa bonne foi est plus qu\u2019une simple \n\u00abhonn\u00eate ineptie \u00bb.5\n\n\u00ab DES QUESTIONS \nSURVIENNENT SOUVENT \nSUR LA PROPRI\u00c9T\u00c9 DES \n\nIMMEUBLES, STRUCTURES \nET AUTRES \u00c9L\u00c9MENTS \n\nPR\u00c9SENTS SUR LE  \nTERRAIN AU MOMENT DE \n\nLA VENTE OU \u00c0 LA FIN  \nDE LA LOCATION. \u00bb \n\nEXIGENCE DE \u00ab BONNE FOI \u00bb  \nDE L\u2019\u00c9VALUATEUR \n\nPartie 2 - \u00ab Bonne foi \u00bb non contractuelle\n\nPA R  J O H N  S H E V C H U K ,  C . A R B ,  A A C I ( H O N ) ,  R I\nMEMBRE B\u00c9N\u00c9 V OL E , S OUS -C 0MI T \u00c9 DE S A PPEL S, AV OC AT-PROCUREUR\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201642 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nQUESTIONS JURIDIQUES\n\nUn juge a observ\u00e9 que \u00ab la bonne \nfoi repose sur l\u2019honn\u00eatet\u00e9. Elle n\u2019est pas \nl\u2019\u00e9quivalent de la saintet\u00e9. Elle n\u2019est pas \nd\u00e9nu\u00e9e d\u2019int\u00e9r\u00eat personnel\u2026  \u00bb6  \u00ab La \nn\u00e9gligence, la stupidit\u00e9 ou l\u2019aveuglement \nenvers ce que les autres devraient \nnormalement \u00eatre en mesure de \ncomprendre n\u2019est pas l\u2019\u00e9quivalent d\u2019un \nmanque de bonne foi \u00bb.7\n\nEn l\u2019absence de tout contexte \nparticulier, la notion centrale de la \n\u00ab bonne foi \u00bb est l\u2019honn\u00eatet\u00e9. Les \ncirconstances dictent la nature et la \nport\u00e9e de l\u2019obligation.\n\nLe Comit\u00e9 de la pratique \nprofessionnelle de l\u2019ICE trouvera des \nindications dans les passages suivants :8\n\n66  ... La notion de bonne foi a \u00e9t\u00e9 \nd\u00e9finie de diverses mani\u00e8res : \n\n\u00ab Une chose est consid\u00e9r\u00e9e comme \nayant \u00e9t\u00e9 faite de bonne foi si elle a \u00e9t\u00e9 \nfaite honn\u00eatement, qu\u2019elle ait \u00e9t\u00e9 faite \nn\u00e9gligemment ou non. \u00bb \n\n\u00ab Bonne foi\u00a0: honn\u00eatet\u00e9 d\u2019intention en \nl\u2019absence de connaissance de circonstances \nqui devraient susciter une enqu\u00eate. \u00bb \n\n67  Une prise en consid\u00e9ration \nhonn\u00eate des faits connus avant de \nprendre une d\u00e9cision est un autre signe \nde bonne foi. Par contre, un conseil \nd\u2019administration qui agit de fa\u00e7on \nd\u00e9raisonnable et arbitraire et sans \nl\u2019\u00e9quit\u00e9, l\u2019ouverture et l\u2019impartialit\u00e9 \nqu\u2019on est en droit de s\u2019attendre de \nlui peut \u00eatre jug\u00e9 comme agissant de \nmauvaise foi. \n\nVoici une expression de rechange \u00e0 \nl\u2019obligation d\u2019agir de bonne foi pour ceux \nqui exercent des pouvoirs et des devoirs \nanalogues \u00e0 ceux des  comit\u00e9s de pratique \nprofessionnelle de l\u2019ICE :9\n\nL\u2019absence de bonne foi peut r\u00e9sulter \nd\u2019une approche t\u00e9m\u00e9raire et arbitraire de \nl\u2019exercice du pouvoir en cause. Le terme \n\u00ab bonne foi \u00bb ne doit pas \u00eatre pris en \nconsid\u00e9ration en faisant abstraction du \nprocessus auquel il est appliqu\u00e9\u2026 Une \nhonn\u00eate tentative d\u2019exercer le pouvoir \nn\u2019est pas d\u00e9montr\u00e9e par la simple absence \nde malhonn\u00eatet\u00e9, de malice ou d\u2019int\u00e9r\u00eat \npersonnel\u2026 La bonne foi exige plus que \nl\u2019absence de mauvaise foi. Elle exige une \napproche consciencieuse \u00e0 l\u2019exercice du \npouvoir. \n\nLe r\u00e8glement 5.9 (plaintes d\u2019un \nmembre contre un autre membre) \nenvisage des sanctions contre un membre \nde l\u2019ICE qui porte plainte contre \nd\u2019autres membres de l\u2019ICE en l\u2019absence \nde bonne foi. Une d\u00e9cision de la cour \nconcernant les plaintes en vertu des lois \nsur les valeurs mobili\u00e8res permet de \nmieux comprendre ce qu\u2019exige la bonne \nfoi dans le contexte du r\u00e8glement 5.9.10  \nLe membre qui porte plainte devrait \ns\u2019attendre \u00e0 devoir \u00e9tablir une honn\u00eate \nconviction, apr\u00e8s avoir pris connaissance \nde suffisamment d\u2019informations, qu\u2019il \ny a eu manquement aux R\u00e8glements \nadministratifs, Code, R\u00e8glements, \npolitiques ou NUPPEC.11\n\nObligation des membres  \nde l\u2019ICE d\u2019agir de bonne foi\nCertaines relations commandent \nautomatiquement la bonne foi; l\u2019emploi, \nl\u2019assurance, le franchisage et la soumission \ndans le domaine de la construction en \nsont de bons exemples. Le cas Bhasin a \n\u00e9largi la port\u00e9e de la loi en \u00e9tablissant \nque la bonne foi est n\u00e9cessaire dans toute \nsituation contractuelle. \n\nLes membres de l\u2019ICE se soumettent \nvolontairement \u00e0 l\u2019exigence de bonne \nfoi, mais ils n\u2019ont pas d\u00e9fini les \ncaract\u00e9ristiques de cette obligation.\n\nAu minimum, l\u2019obligation de bonne \nfoi d\u2019un membre de l\u2019ICE, telle que \npr\u00e9vue par le Code, exige honn\u00eatet\u00e9 et \ncandeur dans ses relations avec les autres. \nLe contexte peut exiger davantage. \nQuelqu\u2019un qui est imprudent ou qui ne \ntient pas compte des circonstances ne \nfait pas montre de bonne foi. Une fois au \ncourant des faits, un membre fait preuve \nde bonne foi si ses actions sont conformes \n\u00e0 un effort pour agir honn\u00eatement et sans \narri\u00e8re-pens\u00e9e face \u00e0 ces connaissances.  \n\nUne d\u00e9finition ad hoc de \u00ab bonne foi \u00bb \nqui pourrait \u00eatre satisfaisante aux fins \ndu Code est celle qui appara\u00eet dans la 9e \n\u00e9dition du Black\u2019s Law Dictionary:12\n\nUn \u00e9tat d\u2019esprit consistant en  \n(1) honn\u00eatet\u00e9 de croyance ou de but, \n(2) fid\u00e9lit\u00e9 envers son devoir ou son \nobligation, (3) observation de normes \ncommerciales raisonnables d\u2019utilisation \n\u00e9quitable dans un m\u00e9tier ou une affaire \n\nou (4) absence d\u2019intention de frauder ou \nd\u2019abuser. \u2013 Aussi appel\u00e9e bona fides.\n\nR\u00e9f\u00e9rences\n1 \u00c9valuation immobili\u00e8re au Canada, \n\nVol. 59, Tome 2, 2015, page 34. \nDiscovery Enterprises Inc. v. Ebco \nIndustries Ltd., [2002] B.C.J. No. \n1957 (B.C.S.C.)\n\n2 Exemples :  Sale of Goods Act, R.S.A. \n2000, c. S-2, s. 2(1); Sale of Goods \nAct, R.S.B.C. 1996, c. 410, s. 2; Sale \nof Goods Act, R.S.O. 1990, c. S.1, s. \n1(2)\n\n3 Mogridge c. Clapp,[1892] 3 Ch 382 \u00e0 \n391 [UK]\n\n4 Voir par exemple Central Estates \n(Belgravia) Ltd c. Woolgar [1971] 3 \nAll ER 647, [1972] 1 QB 48 \u00e0 55\n\n5 Mid Density Developments Pty Ltd c. \nRockdale Municipal Council (1993), \n44 FCR 290 \u00e0 299-300; 116 ALR \n460 \u00e0 468-469\n\n6 1172773 Ontario Ltd. c. Bernstein, \n[2000] O.J. No. 4102 (Ont.S.C.J.) au \npara. 38\n\n7 Official Trustee in Bankruptcy c. \nMitchell (1992), 16 Fam LR 87 \u00e0 95 \n[Aust.]\n\n8 Vigliotti c. Canada (Procureur \ng\u00e9n\u00e9ral), [2001] O.J. No. 2845 \n(Ont.S.C.J.)\n\n9 Applicant WAFV of 2002 c. Refugee \nReview Tribunal, BC200300027 \n[2003] FCA 16 \u00e0 [39]\n\n10 Silver c. Imax Corp, 2009  \n CarswellOnt 874 (Ont. S.C.J.)\n\n11 R\u00e8glements consolid\u00e9s (2014) de \nl\u2019Institut canadien des \u00e9valuateurs, \nalin\u00e9as 5.1.1 - 5.1.5\n\n12 St. Paul:  West Publishing Co., \n2004, Thomson Reuters, 2009\n\nLe pr\u00e9sent article veut susciter  \nla discussion. Il ne devrait pas \u00eatre \nconsid\u00e9r\u00e9 \u00e0 titre de conseil juridique.  \nLes questions que soul\u00e8ve l\u2019article dans \ndes circonstances particuli\u00e8res devraient \n\u00eatre adress\u00e9es \u00e0 des gens de loi et des \n\u00e9valuateurs praticiens qualifi\u00e9s. \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 43Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nPROFESSIONAL PRACTICE MATTERS\n\nBEST PRACTICES \u2013  \nEXAMPLES FROM THE FIELD\n\nA COL L A BOR AT ION BY T HE V OLUN T EER MEMBER S OF T HE A PPE A L SUB-COMMI T T EE:\n\nALLAN BEATTY,  AACI,  P.APP, FELLOW; PETER LAWREK, AACI,  P.APP;  \nROBERT ROBSON, AACI,  P.APP, FELLOW; GORDON TOMIUK, AACI,  P.APP, FELLOW; \n\nDAVID BABINEAU, AACI,  P.APP, FELLOW; AND JOHN SHEVCHUK, AACI  (HON)\n\n\"WHEN CONDUCTING \nAPPRAISALS,IT IS \n\nHELPFUL TO LOOK AT A \nBUYER\u2019S PERSPECTIVE \n\nAND CONSIDER THEIR \nALTERNATIVES AND VIEW \n\nOF THE MARKET.\"\n\nT his article represents a collaboration of the Appeal Sub-Committee and is the first of a series that will appear in \nthe 2016 quarterly editions of  Canadian \nProperty Valuation magazine. The \nCanadian Uniform Standards of \nProfessional Appraisal Practice \n(CUSPAP) focuses on a level of practice that \ncan be described as minimum compulsory \ncompliance to meet the \u2018reasonable \nappraiser\u2019 standard. There is an entire level \nof performance above the bare minimum \nthat is generally referred to as \u2018best practices.\u2019 \nThe Sub-Committee has identified examples \nfrom its collective experience and offers \nguidance on going above and beyond while \nensuring compliance. \n\nThink like a buyer \u2013 \nconsider the options\nWhen conducting appraisals, explaining \nvalue to a client\/purchaser, or testifying \nas an expert witness, it is helpful to look \nat a buyer\u2019s perspective and consider their \nalternatives and view of the market.\n\nFor example, consider the case of a \nparcel of land you are asked to appraise. \nObviously, the appraiser should use \ncomparable land sales to estimate the \nmarket value, but it is equally important \nto think like a buyer who cannot have \nthe properties that are now sold. The \nbuyer has to find an alternative parcel. \nTherefore, the appraiser should not only \nuse sales, but any relevant listings of \n\nland for sale. Listings can be a useful \nreference point on the state of the market \nat the effective date. If there are not any \nrelevant properties for sale, then maybe \nthe current market value of the subject \nland is higher than initially thought \n(due to supply and demand). If there \nare several alternative sites to purchase, \nthen perhaps the subject value should be \nadjusted downward. \n\nTherefore, remember to\u00a0check out \navailable properties besides sales and \nconsider an explanation similar to the \nabove example. Tell the reader if there \nare alternatives. Use your skills to \nundertake a proper comparative analysis \nof the listings, just as you would if they \nwere actual sales.  \n\nThis procedure seems obvious, \nbut it is can be overlooked by many \nappraisers. Other factors to consider are \nthe motivations involved in the sales. \nThere is usually an interesting story \nbehind every deal. Also, consider the \ntrend of the local economy. For example, \na real estate market dependent on oil \nand natural gas exploration might have \ndeclining real estate prices. However, this \nmay not be a factor that is not reflected \nin the sales data, if the sales occurred \nprior to the downturn. List prices can \nprovide insight when market conditions \nchange suddenly. \n\nThe applicable Appraisal Standard \nRule in CUSPAP is 6.2.15 \u201cdescribe \nand analyze all data relevant to the \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201644 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nPROFESSIONAL PRACTICE MATTERS\n\nassignment.\u201d Do not let yourself be \nrestricted to considering only sales  \ndata when the sales might not tell the \nwhole story.\n\nContributor:  \nPeter Lawrek, AACI, P.App\n\nThe three times test\nOver the course of my career, I have \nhad the privilege to mentor a number of \nCandidates. One piece of advice that I \nhave shared with these Candidates is to \nuse the \u2018three times test; when dealing \nwith any aspect of an assignment that  \nis unusual.  \n\nWhat I define as the three times test is \nthat any unusual aspect of an assignment \nshould be covered at least three times in \nan appraisal report to ensure that it is \nnot lost on the reader of the report. For \nexample, take an appraisal of a property \nthat includes an extraordinary assumption \nand assume that this extraordinary \nassumption involves a change in zoning.\n\nThe three times test would see this \nassumption discussed at least three times \nin the report. One time might be in the \nletter of transmittal, where the results of \nthe appraisal are usually summarized. A \nsecond time might be either a separate \nsection of the report, summarizing \nextraordinary assumptions, and\/or the \nlimiting conditions section (remember \nthat introducing an extraordinary \nassumption also requires that an \nextraordinary limiting condition be \nadded as well). The third could be in the \ndescription of land use controls, and\/or in \nthe highest and best use discussion.  \n\nBetter yet, best practices suggest that, \nwhen such a critical assumption is made \nin a report, the appraiser should consider \nidentifying this assumption wherever the \nvalue estimate is shown.  This could take \nthe form of \u201cthe market value estimate, \n\u2018as-if-rezoned\u2019 is $XXX.\u201d You might \nthink of putting the limitation on the \ntitle page of the report. These suggestions \nare aimed at making it clear that your \n\nreport involves special circumstances that \nthe reader must understand in order to \nunderstand the value estimate.\n\nUsing the three times test provides \nsome assurance that your appraisal \nreport is not capable of misleading a \nreader. Common examples of assignment \nconditions that fit the test are:\n\ufffd appraisals from blueprints, or other \n\nconditions where an \u2018as-if-complete\u2019 \nvalue is required;\n\n\ufffd terms of reference that require the \nappraiser to disregard a known \ncondition (e.g., a construction defect, or \na detrimental condition such as mould);\n\n\ufffd appraisal for legal purposes, such as \nexpropriation; and\n\n\ufffd retrospective valuations.\nIt is worthy to note that this advice is not \na requirement of CUSPAP 2014, but is \noffered as a suggestion for best practices. \nWhen it comes to an interpretation \nthat a report is capable of misleading a \nreader, the best advice is to err on the \nside of caution. A report that is deemed \nto be misleading is a serious allegation, \n\nand could potentially attract an Ethics \nviolation (see CUSPAP Ethics Standard \nRule 4.2.3 and Ethics Standard Comment \n5.3). A misleading report can be through \n\u2018omission\u2019 or \u2018commission,\u2019 due to either \none large error, or a combination of \nsmaller errors that collectively lead to a \nreport that is deemed to be misleading.\n\nThe three times test is an effective \ntool to ensure that neither an erroneous \nomission, nor an error by commission, \nwould lead to the judgment that your \nreport could mislead a reader.\n\nContributor:  \nAllan Beatty, AACI, P. App., Fellow \n\nWhen market value is \nthe wrong answer\nFor AIC members in Ontario, Alberta, \nManitoba, New Brunswick and Nova \nScotia, the provincial expropriation \nlegislation creates an additional obligation \nfor the appraiser, after addressing the \ntraditional issue of market value. This \ncomponent of the valuation assignment \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 45Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nPROFESSIONAL PRACTICE MATTERS\n\nrelates to \u2018equivalent reinstatement\u2019 or the \nconcept of \u2018a home for a home.\u2019\n\nIn Ontario, the legislation frames the \nappraiser\u2019s task as follows:\nINCREASE BY THE BOARD\n\n15. Upon application, therefore, the \nBoard shall, by order, after fixing the \nmarket value of lands used for residential \npurposes of the owner under subsection \n14 (1), award such additional amount \nof compensation as, in the opinion of \nthe Board, is necessary to enable the \nowner to relocate his or her residence in \naccommodation that is at least equivalent to \nthe accommodation expropriated.\n\nThis is an area that the vast majority \nof expropriating authorities tend to \nconveniently ignore and, instead, \naddress only the issue of traditional \nmarket value. However, depending on \nlocal market conditions at the valuation \ndate, an expropriated homeowner may \nencounter significant difficulties replacing \nhis or her home in the vicinity of the \ndwelling expropriated. Most expropriated \nhomeowners have valid reasons for \n\nwanting to stay in a particular area, such \nas school district boundaries, proximity \nto employment, family, friends and \ndoctors. In this instance, after estimating \ntraditional market value, the appraiser\u2019s \ntask is to consider what properties were \navailable to the owner for relocation.\n\n\u2018Equivalent reinstatement\u2019 has been \ninterpreted in several ways. It may go \nbeyond replacing the features of the \ndwelling in terms of replacing the number \nof bedrooms and baths. It can include \namenities such as landscaping, barns, \nfencing, tennis court, etc. In one case, it \nincluded a three-acre vineyard developed \nand maintained by the owner\u2019s family as a \nrecreational and family activity.\n\nThe concept that the appraiser should \nremember was summarized in Dell Holdings \nLtd v Toronto Area Transit Operating \nAuthority when the Supreme Court of \nCanada described the interpretation of \nexpropriation legislation as follows:\n\n \u201cThe expropriation of property is one \nof the ultimate exercises of government \nauthority. To take all or part of a person\u2019s \n\nproperty constitutes a severe loss and a \nvery significant interference with a citizen\u2019s \nprivate property rights. It follows that \nthe power of an expropriating authority \nshould be strictly construed in favour of \nthose whose rights have been affected.\u201d\n\nThe applicable Appraisal Standard \nRules (ASR) in CUSPAP include:\n\nASR 6.6.2: identify the intended  \nuse of the appraiser\u2019s opinions  \nand conclusions;\n\nASR 6.2.3: identify the purpose of \nthe assignment including a relevant \ndefinition of value;\n\nASR 6.2.4: identify the scope \nof work necessary to complete the \nassignment; and,  \n\nASR 6.2.15: describe and analyze \nall data relevant to the assignment, \nas well as any relevant Extraordinary \nAssumption and\/or Extraordinary \nLimiting Condition  \n\nIt should go without saying that the \nappraiser\u2019s responsibilities are much \nhigher than a normal assignment when \nworking in provinces with the equivalent \nreinstatement provision in their \nexpropriation act(s). Members should \nalso be aware that many provinces \nhave more than one Act that provides \nfor compulsory acquisition, and the \nprovisions for compensation can vary, \neven in the same province. \n\nAs per CUSPAP, AIC members are \nrequired to comply with the applicable \nlegislative and\/or licensing requirements \nfor all types of professional services \nassignments. In some jurisdictions, \nlegislation may limit the qualifications \nof the practitioner and the legislation \nsupersedes CUSPAP.\n\nContributor:  \nBob Robson, AACI, P. App., Fellow  \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201646 Click HERE to return to \nTABLE OF CONTENTS\n\n\"AIC MEMBERS ARE REQUIRED TO COMPLY WITH THE APPLICABLE LEGISLATIVE \nAND\/OR LICENSING REQUIREMENTS FOR ALL TYPES OF PROFESSIONAL \nSERVICES ASSIGNMENTS.\"\n\n\n\nPRATIQUES EXEMPLAIRES \u2013 \nEXEMPLES SUR LE TERRAIN\n\nEN COL L A BOR AT ION AV EC L E S MEMBRE S B\u00c9N\u00c9 V OL E S DU S OUS -COMI T \u00c9 D\u2019A PPEL : \n\nALLAN BEATTY,  AACI,  P.APP, FELLOW; PETER LAWREK, AACI,  P.APP;  \nROBERT ROBSON, AACI,  P.APP, FELLOW; GORDON TOMIUK, AACI,  P.APP, FELLOW; \n\nDAVID BABINEAU, AACI,  P.APP, FELLOW; ET JOHN SHEVCHUK, AACI (HON)\n\nPARLONS PRATIQUE PROFESSIONNELLE\n\nC et article, qui r\u00e9sulte d\u2019une collaboration du Sous-comit\u00e9 d\u2019appel, est le premier d\u2019une s\u00e9rie \u00e0 para\u00eetre dans les num\u00e9ros \ntrimestriels de la revue \u00c9valuation \nimmobili\u00e8re au Canada en 2016. Les \nNormes uniformes de pratique professionnelle \nen mati\u00e8re d\u2019\u00e9valuation au Canada \n(NUPPEC) portent sur un niveau de pratique \npouvant se d\u00e9crire comme une conformit\u00e9 \nobligatoire minimale permettant de rencontrer \nla norme de l\u2019\u00ab \u00e9valuateur raisonnable \u00bb. Il \nexiste tout un niveau de rendement d\u00e9passant \nle strict minimum g\u00e9n\u00e9ralement appel\u00e9 \n\u00ab\u00a0pratiques exemplaires \u00bb. Le sous-comit\u00e9 a \ntir\u00e9 des exemples de son exp\u00e9rience collective et \n\ndonne des conseils pour en faire toujours plus, \ntout en assurant la conformit\u00e9.\n\nPensez comme un acheteur \n\u2013 consid\u00e9rez les options\nEn faisant une \u00e9valuation, en expliquant \nla valeur \u00e0 un client\/acheteur ou en \nd\u00e9posant \u00e0 titre de t\u00e9moin expert, il est \nutile de se mettre \u00e0 la place de l\u2019acheteur, \nde penser aux alternatives qui s\u2019offrent \u00e0 \nlui et de tenir compte du march\u00e9.\n\nPrenez l\u2019exemple d\u2019une parcelle de \nterrain qu\u2019on vous demande d\u2019\u00e9valuer. \nDe toute \u00e9vidence, l\u2019\u00e9valuateur \ndevrait utiliser des ventes de terrains \ncomparables pour estimer la valeur \n\n\u00ab EN FAISANT UNE \n\u00c9VALUATION,IL EST \n\nUTILE DE SE METTRE \n\u00c0 LA PLACE DE \n\nL\u2019ACHETEUR, DE PENSER \nAUX ALTERNATIVES QUI \n\nS\u2019OFFRENT \u00c0 LUI ET \nDE TENIR COMPTE DU \n\nMARCH\u00c9. \u00bb\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 47Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nPARLONS PRATIQUE PROFESSIONNELLE\n\nmarchande, mais il est aussi important \nde penser comme un acheteur qui ne \npeut avoir les biens immobiliers qui \nsont vendus maintenant. L\u2019acheteur \ndoit trouver une parcelle de rechange. \nAinsi donc, l\u2019\u00e9valuateur devrait utiliser \nnon seulement les ventes, mais toute \ninscription pertinente de terrain \u00e0 \nvendre. Les inscriptions peuvent \u00eatre \nun point de r\u00e9f\u00e9rence utile sur l\u2019\u00e9tat du \nmarch\u00e9 \u00e0 la date r\u00e9elle de l\u2019\u00e9valuation. \nS\u2019il n\u2019y a aucun bien immobilier \npertinent \u00e0 vendre, peut-\u00eatre que la \nvaleur marchande courante du terrain \nvis\u00e9 est plus \u00e9lev\u00e9e qu\u2019on ne le croyait \nau d\u00e9part (en raison de l\u2019offre et de la \ndemande). S\u2019il y a plusieurs autres sites \u00e0 \nacheter, peut-\u00eatre que la valeur du terrain \nvis\u00e9 devrait \u00eatre ajust\u00e9e \u00e0 la baisse.\n\nPar cons\u00e9quent, rappelez-vous \nde v\u00e9rifier les biens immobiliers \ndisponibles en plus des ventes et pensez \n\u00e0 une explication similaire \u00e0 l\u2019exemple \nci-dessus. Dites au lecteur s\u2019il y a des \nalternatives. Usez de vos comp\u00e9tences \npour faire une analyse comparative \nappropri\u00e9e des inscriptions, tout \ncomme vous le feriez s\u2019il s\u2019agissait de \nventes r\u00e9elles.\n\nCette proc\u00e9dure semble \u00e9vidente, \nmais beaucoup d\u2019\u00e9valuateurs peuvent la \nn\u00e9gliger. D\u2019autres facteurs \u00e0 consid\u00e9rer \nsont les motivations qui sous-tendent \nles ventes. Une histoire int\u00e9ressante se \ncache habituellement derri\u00e8re chaque \nmarch\u00e9. De plus, songez \u00e0 la tendance \nde l\u2019\u00e9conomie locale. Par exemple, \nun march\u00e9 immobilier qui d\u00e9pend de \nl\u2019exploration du p\u00e9trole et du gaz naturel \npourrait offrir des prix immobiliers en \nd\u00e9clin. Toutefois, cela ne peut \u00eatre un \nfacteur que ne refl\u00e8tent pas les donn\u00e9es \nde vente, si les ventes sont survenues \navant le d\u00e9clin. Les prix courants peuvent \ndonner un aper\u00e7u lorsque les conditions \ndu march\u00e9 changent soudainement.\n\nLa r\u00e8gle applicable de la norme visant \nles activit\u00e9s d\u2019\u00e9valuation des NUPPEC \nest 6.2.15\u00a0: \u00ab\u00a0d\u00e9crire et analyser toutes les \ndonn\u00e9es pertinentes au contrat de service \n\u00bb. Ne vous limitez pas aux seules donn\u00e9es \n\nde vente quand les ventes ne racontent \npeut-\u00eatre pas toute l\u2019histoire.\n\nCollaborateur :  \nPeter Lawrek, AACI, P.App\n\nLe test des trois fois\nAu cours de ma carri\u00e8re, j\u2019ai eu le privil\u00e8ge \nd\u2019accompagner plusieurs stagiaires. Un \nconseil que je leur ai donn\u00e9 est d\u2019utiliser \nle \u00ab test des trois fois \u00bb quand ils se \nretrouvent devant tout aspect d\u2019un contrat \nde service qui est inhabituel.\n\nCe que j\u2019appelle le test des trois \nfois, c\u2019est tout aspect atypique d\u2019un \ncontrat de service qui devrait \u00eatre trait\u00e9 \nau moins trois fois dans le rapport \nd\u2019\u00e9valuation, pour s\u2019assurer que le lecteur \ndu rapport ne le perde pas de vue. Par \nexemple, prenons l\u2019\u00e9valuation d\u2019un bien \nimmobilier qui comprend une hypoth\u00e8se \nextraordinaire et qui pr\u00e9sume que cette \nhypoth\u00e8se extraordinaire implique un \nchangement de zonage.\n\nCe test des trois fois serait cette \nhypoth\u00e8se abord\u00e9e au moins trois fois \ndans le rapport. La premi\u00e8re fois pourrait \n\u00eatre dans la lettre d\u2019accompagnement, \no\u00f9 les r\u00e9sultats de l\u2019\u00e9valuation sont \nnormalement r\u00e9sum\u00e9s. La deuxi\u00e8me fois \npourrait \u00eatre dans une section distincte \ndu rapport dressant le sommaire des \nhypoth\u00e8ses extraordinaires et\/ou dans \nla section des conditions limitatives \n\n(rappelez-vous qu\u2019en introduisant une \nhypoth\u00e8se extraordinaire, vous devez \ny joindre une condition limitative \nexceptionnelle). La troisi\u00e8me fois pourrait \n\u00eatre dans la description des contr\u00f4les \nde l\u2019utilisation des terres et\/ou dans la \ndiscussion sur l\u2019utilisation optimale.\n\nEncore mieux, les pratiques \nexemplaires donnent \u00e0 penser que, \nlorsqu\u2019une telle hypoth\u00e8se critique est \nfaite dans un rapport, l\u2019\u00e9valuateur \ndevrait songer \u00e0 inclure cette hypoth\u00e8se \npartout o\u00f9 figure l\u2019estimation de la \nvaleur. Cela pourrait se lire ainsi : \n\u00ab\u00a0l\u2019estimation de la valeur marchande, \n\u2039\u00a0dans le nouveau zonage\u00a0\u203a, est de \nXXX\u00a0$\u00a0\u00bb. Vous pourriez penser \u00e0 \nindiquer la limite sur la page titre \ndu rapport. Ces suggestions veulent \nrendre clair que votre rapport vise des \ncirconstances sp\u00e9ciales dont le lecteur \ndoit \u00eatre inform\u00e9 pour bien comprendre \nl\u2019estimation de la valeur.\n\nLe test des trois fois vous donne une \ncertaine assurance que votre rapport \nd\u2019\u00e9valuation ne pourra pas tromper un \nlecteur. Voici des exemples courants o\u00f9 \nles conditions d\u2019un contrat de service \npassent la rampe\u00a0:\n\ufffd \u00e9valuations \u00e0 partir de plans, ou \n\nautres conditions o\u00f9 l\u2019on requiert \nune valeur \u2039\u00a0comme si compl\u00e9t\u00e9\u00a0\u203a;\n\n\ufffd mandat qui oblige l\u2019\u00e9valuateur \u00e0 \nignorer une condition connue  \n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201648 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nPARLONS PRATIQUE PROFESSIONNELLE\n\n(p. ex. un d\u00e9faut de construction \nou une condition nuisible comme la \nmoisissure);\n\n\ufffd \u00e9valuation pour des fins l\u00e9gales, \ncomme une expropriation; et\n\n\ufffd \u00e9valuations r\u00e9trospectives.\nIl est \u00e0 noter que ce conseil n\u2019est pas une \nexigence des NUPPEC 2014, mais il est \noffert comme suggestion de pratique \nexemplaire. Quand on peut conclure \nqu\u2019un rapport est susceptible de tromper \nle lecteur, il vaut mieux errer du c\u00f4t\u00e9 de \nla prudence. Un rapport r\u00e9put\u00e9 trompeur \nest une all\u00e9gation grave et il pourrait \nentra\u00eener une violation de l\u2019\u00e9thique (voir \nla r\u00e8gle 4.2.3 et le commentaire 5.3 de la \nnorme relative aux questions d\u2019\u00e9thique \ndans les NUPPEC). Un rapport trompeur \npeut r\u00e9sulter d\u2019une \u2039\u00a0omission\u00a0\u203a ou d\u2019une \n\u2039\u00a0commission\u00a0\u203a due \u00e0 une grave erreur ou \nencore \u00e0 une combinaison d\u2019erreurs moins \ngraves qui, mises ensemble, font qu\u2019un \nrapport est consid\u00e9r\u00e9 comme trompeur.\n\nLe test des trois fois est un instrument \nutile pour assurer que ni une omission \nerron\u00e9e ni une erreur par commission \nne m\u00e8nerait \u00e0 la conclusion que votre \nrapport pourrait tromper le lecteur.\n\nCollaborateur :  \nAllan Beatty, AACI, P. App., Fellow\n\nQuand la valeur marchande \nn\u2019est pas la bonne r\u00e9ponse\nPour les membres de l\u2019ICE en Ontario, \nen Alberta, au Manitoba, au Nouveau-\nBrunswick et en Nouvelle-\u00c9cosse, \nla l\u00e9gislation provinciale en mati\u00e8re \nd\u2019expropriation cr\u00e9e une obligation \nsuppl\u00e9mentaire pour l\u2019\u00e9valuateur apr\u00e8s \navoir r\u00e9gl\u00e9 la question de la valeur \nmarchande traditionnelle. Cette \ncomposante du contrat de service \nd\u2019\u00e9valuation concerne le \u2039\u00a0r\u00e9tablissement \n\u00e9quivalent\u00a0\u203a ou la notion d\u2019\u2039\u00a0une maison \npour une maison\u00a0\u203a.\n\nEn Ontario, la loi encadre ainsi le \ntravail de l\u2019\u00e9valuateur\u00a0:\n\nAugmentation par la Commission\n15. Sur demande \u00e0 cet effet, et  \n\napr\u00e8s avoir fix\u00e9, aux termes du \n\nparagraphe 14 (1), la valeur marchande \ndu bien-fonds qu\u2019un propri\u00e9taire utilise \n\u00e0 des fins d\u2019habitation, la Commission \nadjuge par ordonnance au propri\u00e9taire \nl\u2019indemnit\u00e9 suppl\u00e9mentaire qu\u2019elle estime \nn\u00e9cessaire afin qu\u2019il puisse se r\u00e9installer \ndans un logement au moins \u00e9quivalent au \nlogement expropri\u00e9.\n\nC\u2019est l\u00e0 un domaine que la grande \nmajorit\u00e9 des autorit\u00e9s expropriantes \ntendent \u00e0 ignorer, sans inconv\u00e9nient, \nalors qu\u2019elles traitent seulement la \nquestion de la valeur marchande \ntraditionnelle. Cependant, selon les \nconditions du march\u00e9 local \u00e0 la date \nd\u2019\u00e9valuation, un propri\u00e9taire expropri\u00e9 \npeut avoir beaucoup de difficult\u00e9 \u00e0 \nremplacer sa maison dans le voisinage \nde l\u2019habitation expropri\u00e9e. La plupart \ndes propri\u00e9taires expropri\u00e9s ont des \nraisons valides de rester dans un secteur \nparticulier, comme les limites d\u2019un \narrondissement scolaire, la proximit\u00e9 \nde leur emploi, de leur famille, leurs \namis et leurs docteurs. Dans ce cas, \napr\u00e8s avoir estim\u00e9 la valeur marchande \ntraditionnelle, la t\u00e2che de l\u2019\u00e9valuateur \nest de regarder quels biens immobiliers \n\u00e9taient disponibles pour la relocalisation \ndu propri\u00e9taire.\n\nOn a interpr\u00e9t\u00e9 le \u2039\u00a0r\u00e9tablissement \n\u00e9quivalent\u00a0\u203a de plusieurs fa\u00e7ons. \nCela peut \u00eatre plus que remplacer \nles caract\u00e9ristiques de l\u2019habitation, \nqu\u2019il s\u2019agisse du nombre de chambres \n\u00e0 coucher ou de salles de bain. Cela \npeut inclure des commodit\u00e9s comme \nl\u2019am\u00e9nagement paysager, une grange, une \ncl\u00f4ture, un court de tennis, etc. Dans un \ncas, il incluait une vigne de trois acres \nd\u00e9velopp\u00e9e et entretenue par la famille \ndu propri\u00e9taire comme une activit\u00e9 \nr\u00e9cr\u00e9ative et familiale.\n\nLe concept dont l\u2019\u00e9valuateur doit se \nsouvenir se r\u00e9sume dans la cause R\u00e9gie \ndes transports en commun de la r\u00e9gion \nde Toronto c. Dell Holdings Ltd., o\u00f9 la \nCour supr\u00eame du Canada interpr\u00e8te \nles lois concernant l\u2019expropriation de la \nmani\u00e8re suivante :\n\n\u00ab\u00a0L\u2019expropriation d\u2019un bien est \n\nl\u2019un des pouvoirs gouvernementaux \nqui n\u2019est exerc\u00e9 qu\u2019en dernier ressort. \nL\u2019expropriation totale ou partielle \nd\u2019un bien appartenant \u00e0 une personne \nconstitue une grave perte ainsi qu\u2019une \natteinte tr\u00e8s importante aux droits priv\u00e9s \nde propri\u00e9t\u00e9 des citoyens. Il s\u2019ensuit que le \npouvoir d\u2019une autorit\u00e9 expropriante devrait \n\u00eatre interpr\u00e9t\u00e9 de fa\u00e7on stricte en faveur des \npersonnes dont les droits sont touch\u00e9s.\u00a0\u00bb\n\nLes r\u00e8gles applicables de la norme \nrelative aux activit\u00e9s d\u2019\u00e9valuation des \nNUPPEC incluent\u00a0:\n\nR\u00e8gle 6.2.2\u00a0: [l\u2019\u00e9valuateur doit \npr\u00e9ciser] l\u2019utilisation pr\u00e9vue de ses \nopinions et de ses conclusions;\n\nR\u00e8gle 6.2.3\u00a0: [l\u2019\u00e9valuateur doit \npr\u00e9ciser] l\u2019objectif du contrat de service, \ny compris une d\u00e9finition pertinente de la \nvaleur \u00e0 d\u00e9terminer;\n\nR\u00e8gle 6.2.4\u00a0: [l\u2019\u00e9valuateur doit \npr\u00e9ciser] l\u2019envergure des travaux requis \npour r\u00e9aliser le contrat de service; et\n\nR\u00e8gle 6.2.15\u00a0: [l\u2019\u00e9valuateur doit] d\u00e9crire \net analyser toutes les donn\u00e9es pertinentes \nau contrat de service, ainsi que toute \nhypoth\u00e8se extraordinaire et\/ou condition \nlimitative exceptionnelle pertinente.\n\nIl va sans dire que les responsabilit\u00e9s \nde l\u2019\u00e9valuateur sont beaucoup plus \ngrandes que pour un contrat de service \nnormal lorsqu\u2019il travaille dans une \nprovince appliquant la disposition \nde r\u00e9tablissement \u00e9quivalent dans sa \nl\u00e9gislation sur l\u2019expropriation. Les membres \ndevraient \u00e9galement savoir que plusieurs \nprovinces ont plus d\u2019une loi pr\u00e9voyant \nl\u2019acquisition obligatoire, alors que les \ndispositions sur la compensation peuvent \nvarier, m\u00eame au sein d\u2019une province.\n\nConform\u00e9ment aux NUPPEC, les \nmembres de l\u2019ICE doivent respecter les \nexigences de la l\u00e9gislation et\/ou de la \nd\u00e9livrance de permis pour tous les types \nde contrats de service professionnels. Dans \ncertaines provinces, la l\u00e9gislation peut \nlimiter les qualifications d\u2019un \u00e9valuateur et \navoir pr\u00e9c\u00e9dence sur les NUPPEC.\n\nCollaborateur :  \nBob Robson, AACI, P. App., Fellow  \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 49Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nMARKETING &#038; COMMUNICATIONS\n\nNEW AIC  \nADVERTISING CAMPAIGNTim is an AIC-designated appraiser, a Canadian real estate valuation expert. Mortgage brokers rely on \n\nAIC appraisers \u2013 AACI\u2122 and CRA\u2122 \u2013 to provide \n\nan unbiased and independent opinion of the value \n\nof real estate assets during mortgage financing and \n\nrefinancing, underwriting and feasibility studies \n\nand more. If it involves real estate, involve an AIC-\n\ndesignated appraiser.\n\nMORTGAGE \nBROKERS VALUE \nTIM\u2019S  OPINION\n\nNewfoundland\nand Labrador\n\nMortgage Finance Valuation  |  Consulting  \nAppraisal Review  |  Pre-Sale Market Value Appraisals\n\nFind an AIC-designated appraiser\n\nAICanada.ca\n\nDiane is an AIC-designated appraiser, a Canadian real \n\nestate valuation expert. Accountants, investors and \n\nfinancial planners rely on AIC appraisers \u2013 AACI\u2122 and \n\nCRA\u2122 \u2013 for unbiased opinions and trusted advice on \n\nthe value of real estate, including expert testimony \n\nbefore judicial and quasi-judicial bodies. Property \n\ntaxes, estate settlement, foreclosure, retirement \n\nplanning, capital gains tax, asset management, IFRS, \n\nmergers, acquisitions, and more \u2013 if it involves real \n\nestate, involve an AIC-designated appraiser.\n\nFINANCIAL \nEXPERTS   \nVALUE \nDIANE\u2019S \nOPINION \n\nValuations  |  Consulting  |  Appraisal Review  |  Due Diligence\n\nFind an AIC-designated appraiser\n\nAICanada.ca\nNewfoundland\nand Labrador\n\nJasmine is an AIC-designated appraiser, a Canadian real \n\nestate valuation expert. Residential Realtors\u00ae rely on AIC \n\nappraisers \u2013 AACI\u2122 and CRA\u2122 \u2013 to provide comprehensive \n\nand independent opinions of value to their clients when \n\npurchasing or selling a home. This due diligence helps clients \n\nmake fully informed property decisions. If it involves residential \n\nreal estate, involve an AIC-designated appraiser.\n\nREALTORS\u00ae VALUE  \nJASMINE\u2019S OPINION \n\nMortgage Finance Valuations  |  Consulting\nAppraisal Review  |  Pre-Sale Market Value Appraisals\n\nFind an AIC-designated appraiser\n\nAICanada.ca\nNewfoundland\nand Labrador\n\nPaul is an AIC-designated appraiser, a Canadian real estate valuation \n\nexpert. Commercial real estate agents rely on AIC appraisers \u2013 AACI\u2122 \u2013  \n\nto provide comprehensive and independent opinions of value \n\nto their clients when making real estate investment decisions, \n\nincluding expert testimony before judicial and quasi-judicial \n\nbodies. Highest and best use, feasibility analysis, leasing analysis \n\nand other specialized property analysis services \u2013 if it involves \n\ncommercial real estate, involve an AIC-designated appraiser.\n\nREAL ESTATE \nBROKERS \nVALUE PAUL\u2019S \nOPINION\n\nNewfoundland\nand Labrador\n\nValuations  |  Consulting  |  Appraisal Review  |  Reserve Fund Studies  |  Due Diligence\n\nFind an AIC-designated appraiser\n\nAICanada.ca\n\nLaura is an AIC-designated appraiser, a Canadian \n\nreal estate valuation expert. Lawyers rely on AIC \n\nappraisers \u2013 AACI\u2122 and CRA\u2122 \u2013 to provide an \n\nunbiased and independent opinion of the value of real \n\nestate assets for a wide range of issues, including: \n\nmatrimonial disputes, bankruptcy proceedings, \n\ntax fraud, expropriation, property tax appeals, \n\nforeclosures, partner disputes, estate planning, or \n\nproceeds of crime. AIC-designated appraisers are \n\nalso expert witnesses of choice and recognized by \n\njudicial and quasi-judicial bodies. If it involves real \n\nestate, involve an AIC-designated appraiser.\n\nLAWYERS \nVALUE \n\nLAURA\u2019S \nOPINION\n\nNewfoundland\nand Labrador\n\nValuations  |  Consulting  |  Appraisal Review  |  Due Diligence\n\nFind an AIC-designated appraiser\n\nAICanada.ca\n\nAlex is an AIC-designated appraiser, a \n\nCanadian real estate valuation expert. Property \n\nmanagers and condominium owners rely on AIC \n\nappraisers \u2013 AACI\u2122 and CRA\u2122 \u2013 to provide an \n\nunbiased and independent opinion for: reserve \n\nfund studies, depreciation reports, setting \n\nmarket rents and market value, profitability \n\nanalysis and more. When legal disputes \n\ncall for valuations from expert witnesses, \n\nAIC-designated appraisers are also expert \n\nwitnesses of choice and recognized by judicial \n\nand quasi-judicial bodies. If it involves real \n\nestate, involve an AIC-designated appraiser.\n\nPROPERTY \nMANAGERS  \n\nVALUE ALEX\u2019S \nOPINION \n\nNewfoundland\nand Labrador\n\nValuations  |  Consulting  |  Appraisal Review  |  Reserve Fund Studies  |  Due Diligence\n\nFind an AIC-designated appraiser\n\nAICanada.ca\n\nSimon is an AIC-designated appraiser, a Canadian \n\nreal estate valuation expert. Municipal, provincial \n\nand federal governments rely on AIC appraisers  \u2013 \n\nAACI\u2122 and CRA\u2122 \u2013 for trusted, knowledgeable \n\nand unbiased opinions about public property, \n\nincluding: expropriation, right-of-way, easements, \n\nmarket rent analysis, acquisitions, disposals, \n\nincome tax and property tax valuation, highest \n\nand best use and more. If it involves real estate, \n\ninvolve an AIC-designated appraiser.\n\nGOVERNMENTS \nVALUE SIMON\u2019S \nOPINION \n\nNewfoundland\nand Labrador\n\nValuations  |  Consulting  |  Appraisal Review  |  Due Diligence\n\nFind an AIC-designated appraiser\n\nAICanada.ca\n\nI n 2016, new options are being added to our inventory of advertisements. These ads will personalize and target a very specific professional audience and highlight the services that appraisers can provide these professionals in their line of work. These ads will be placed in trade publications and online sites that our \naudiences actively visit. Some mainstream advertising will also be done on Google, \nsocial media sites and national print outlets, such as the Globe and Mail.\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201650 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nMARKETING &#038; COMMUNICATIONS\n\nE n 2016, nous ajouterons de nouvelles options \u00e0 notre inventaire de publicit\u00e9s. Ces annonces cibleront de fa\u00e7on personnalis\u00e9e un auditoire de professionnels tr\u00e8s sp\u00e9cifique et feront ressortir les services que les \u00e9valuateurs peuvent rendre \u00e0 ces professionnels dans l\u2019exercice de leurs fonctions. \nCes annonces seront ins\u00e9r\u00e9es dans des revues professionnelles et sur des sites en \n\nligne que nos auditoires visitent activement. Une publicit\u00e9 grand public sera aussi faite \npar Google, les sites de m\u00e9dias sociaux et de grands quotidiens nationaux tels le Globe \nand Mail.\n\nNOUVELLE CAMPAGNE  \nDE PUBLICIT\u00c9 DE L\u2019ICE Tim est un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE, un expert \n\nen \u00e9valuation immobili\u00e8re au Canada. Les courtiers \n\nen hypoth\u00e8que comptent sur les \u00e9valuateurs de \n\nl\u2019ICE \u2014 les AACIMD et les CRAMD \u2014 pour obtenir \n\nun avis impartial et ind\u00e9pendant sur la valeur des \n\nactifs immobiliers, notamment lors de financements \n\net de refinancements, souscriptions et \u00e9tudes de \n\nfaisabilit\u00e9. Lorsque vous songez \u00e0 l\u2019immobilier, \n\nsongez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE.\n\nLES COURTIERS \nEN HYPOTH\u00c8QUE \n\n VALORISENT \nL\u2019OPINION \n\nDE TIM\n\n\u00c9valuation de financement hypoth\u00e9caire  |  Consultation  \nExamen d\u2019\u00e9valuation  |  Analyse de march\u00e9 pr\u00e9vente\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nDiane est une \u00e9valuatrice d\u00e9sign\u00e9e de l\u2019ICE, une experte en \n\n\u00e9valuation immobili\u00e8re au Canada. Les experts financiers \n\ncomptent sur les \u00e9valuateurs de l\u2019ICE \u2014 les AACIMD et les \n\nCRAMD \u2014 pour obtenir un avis impartial et des conseils \n\njudicieux sur la valeur de l\u2019immobilier, y compris des \n\nt\u00e9moignages d\u2019experts devant des organismes judiciaires \n\net quasi judiciaires. Que ce soit pour des questions d\u2019imp\u00f4t \n\nfoncier, de r\u00e8glement de succession, de forclusion, de \n\nplanification de la retraite, d\u2019imp\u00f4t sur les gains en capital, \n\nde gestion de l\u2019actif, de NIIF, de fusions, d\u2019acquisitions et \n\nbien plus \u2014 lorsque vous songez \u00e0 l\u2019immobilier, songez \u00e0 \n\nun \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE.\n\nLES EXPERTS \nFINANCIERS     \nVALORISENT \nL\u2019OPINION \nDE DIANE\n\n\u00c9valuations  |  Consultation  |  Examen d\u2019\u00e9valuation  |  Diligence raisonnable\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nJasmine est une \u00e9valuatrice d\u00e9sign\u00e9e de l\u2019ICE, une experte en \u00e9valuation \n\nimmobili\u00e8re au Canada. Les agences et courtiers immobiliers comptent \n\nsur les \u00e9valuateurs de l\u2019ICE \u2014 les AACIMD et les CRAMD \u2014 pour obtenir \n\ndes avis complets et ind\u00e9pendants en mati\u00e8re d\u2019\u00e9valuation pour leurs \n\nclients lors de l\u2019achat ou de la vente d\u2019une propri\u00e9t\u00e9. Gr\u00e2ce \u00e0 leur \n\ndiligence, les clients peuvent prendre des d\u00e9cisions \u00e9clair\u00e9es lors \n\nd\u2019une transaction immobili\u00e8re. Lorsque vous songez \u00e0 l\u2019immobilier \n\nr\u00e9sidentiel, songez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE. \n\nLES AGENCES ET \nCOURTIERS IMMOBILIERS  \nVALORISENT L\u2019OPINION \nDE JASMINE\n\n\u00c9valuation de financement hypoth\u00e9caire  |  Consultation  \nExamen d\u2019\u00e9valuation  |  Analyse de march\u00e9 pr\u00e9vente\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nPaul est un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE, un expert en \u00e9valuation \n\nimmobili\u00e8re au Canada. Les agents d\u2019immeubles commerciaux \n\ncomptent sur les \u00e9valuateurs de l\u2019ICE \u2014 les AACIMD et les \n\nCRAMD \u2014 pour obtenir des avis complets et ind\u00e9pendants en \n\nmati\u00e8re d\u2019\u00e9valuation pour leurs clients qui doivent prendre \n\nune d\u00e9cision reli\u00e9e \u00e0 l\u2019immobilier, y compris des t\u00e9moignages \n\nd\u2019experts devant des organismes judiciaires et quasi judiciaires. \n\nUtilisation optimale, analyse de faisabilit\u00e9, analyse de location \n\n\u00e0 bail et autres services sp\u00e9cialis\u00e9s d\u2019analyses de propri\u00e9t\u00e9s \n\nsont au nombre de leurs comp\u00e9tences. Lorsque vous songez \u00e0 \n\nl\u2019immobilier commercial, songez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE. \n\nLES COURTIERS \nIMMOBILIERS \nVALORISENT \nL\u2019OPINION \nDE PAUL\n\n\u00c9valuations  |  Consultation  |  Examen d\u2019\u00e9valuation \n\u00c9tudes de fonds de r\u00e9serve  |  Diligence raisonnable\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nLaura est une \u00e9valuatrice d\u00e9sign\u00e9e de l\u2019ICE, une \n\nexperte en \u00e9valuation immobili\u00e8re au Canada. \n\nLes avocats comptent sur les \u00e9valuateurs de \n\nl\u2019ICE \u2014 les AACIMD et les CRAMD \u2014 pour obtenir \n\ndes avis impartiaux et ind\u00e9pendants sur la valeur \n\nde l\u2019immobilier dans un large \u00e9ventail de domaines, \n\ny compris : litige matrimonial, proc\u00e9dures de \n\nfaillite, fraude fiscale, expropriation, appel de \n\nl\u2019imp\u00f4t foncier, forclusion, litige entre partenaires, \n\nde r\u00e8glement de succession ou produits de la \n\ncriminalit\u00e9. Les \u00e9valuateurs d\u00e9sign\u00e9s de l\u2019ICE sont \n\n\u00e9galement des t\u00e9moins experts pris\u00e9s et sont \n\nreconnus par les organismes judiciaires et quasi \n\njudiciaires. Lorsque vous songez \u00e0 l\u2019immobilier, \n\nsongez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE.\n\nLES AVOCATS \nVALORISENT \n\nL\u2019OPINION \nDE LAURA\n\n\u00c9valuations  |  Consultation  |  Examen d\u2019\u00e9valuation  |  Diligence raisonnable\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nAlex est un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE, un \n\nexpert en \u00e9valuation immobili\u00e8re au Canada. \n\nLes gestionnaires immobiliers comptent sur \n\nles \u00e9valuateurs de l\u2019ICE \u2014 les AACIMD et les \n\nCRAMD \u2014 pour obtenir des avis impartiaux et \n\nind\u00e9pendants sur : \u00e9tudes de fonds de r\u00e9serve, \n\nrapports de d\u00e9pr\u00e9ciation, \u00e9tablissement des \n\nloyers du march\u00e9 et de la valeur marchande, \n\nanalyses de rentabilit\u00e9 et plus encore. Lorsque \n\ndes litiges n\u00e9cessitent des \u00e9valuations de la \n\npart d\u2019experts, les \u00e9valuateurs d\u00e9sign\u00e9s de l\u2019ICE \n\nsont alors des t\u00e9moins experts pris\u00e9s et sont \n\nreconnus par les organismes judiciaires et quasi \n\njudiciaires. Lorsque vous songez \u00e0 l\u2019immobilier, \n\nsongez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE.\n\nLES \nGESTIONNAIRES\n\nIMMOBILIERS   \nVALORISENT \n\nL\u2019OPINION \nD\u2019ALEX\n\n\u00c9valuations  |  Consultation  |  Examen d\u2019\u00e9valuation \n\u00c9tudes de fonds de r\u00e9serve  |  Diligence raisonnable\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nSimon est un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE, un \n\nexpert en \u00e9valuation immobili\u00e8re au Canada. Les \n\ngouvernements \u00e0 l\u2019\u00e9chelle municipale, provinciale et \n\nf\u00e9d\u00e9rale comptent sur les \u00e9valuateurs de l\u2019ICE \u2014 les \n\nAACIMD et les CRAMD \u2014 pour obtenir des avis fiables, \n\n\u00e9clair\u00e9s et impartiaux en mati\u00e8re de propri\u00e9t\u00e9 publique, \n\ny compris : expropriation, droit de passage, servitudes, \n\nanalyse du march\u00e9 locatif, acquisitions, ali\u00e9nations, \n\nimp\u00f4t sur le revenu, \u00e9valuation de l\u2019imp\u00f4t foncier, \n\nutilisation optimale et bien plus. Lorsque vous songez \n\n\u00e0 l\u2019immobilier, songez \u00e0 un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE.\n\nLES \nGOUVERNEMENTS \nVALORISENT \nL\u2019OPINION \nDE SIMON\n\n\u00c9valuations  |  Consultation  |  Examen d\u2019\u00e9valuation  |  Diligence raisonnable\n\nTrouvez un \u00e9valuateur d\u00e9sign\u00e9 de l\u2019ICE\n\nICEcanada.ca\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 51Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nSocial media:\n\u2013 51% increase in Twitter\n\u2013 23% increase in Facebook\n\u2013 10% increase in Linked In group\n\nM\u00e9dias social :\n\u2013 Augmentation de 51 % sur Twitter\n\u2013 Augmentation de 23% sur Facebook\n\u2013 Augmentation de 10% sur Linked In\n\nMARKETING &#038; COMMUNICATIONS\n\nAIC BY THE NUMBERS \/ L'ICE EN CHIFFRES\n\nMEMBERSHIP\n\u2013 3.1% increase of active membership \n\u2013 9% increase in Candidate Members\n\u2013 16% increase in Student Members\n\n\u2013 Augmentation de 3,1 % des membres actifs\n\u2013 Augmentation de 9 % des membres stagiaires\n\u2013 Augmentation de 16 % des membres \u00e9tudiants\n\n354,830\n\n2015 Outcomes \/ R\u00e9sultats de 2015\n\nBased on January 1, 2015 to December 31, 2016 \/ Bas\u00e9s sur la p\u00e9riode du 1er janvier 2015 au 31 d\u00e9cembre 2016\n\nWebsite:\n\u2013 354,830 visitors (14% increase  \n\nfrom 2014)\n\u2013 51% new visitors; 49% repeat visitors \n\u2013 100,962 visits to Find an Appraiser \n\n(16% increase from 2014)\n\nSite Web :\n\u2013 354 830 visiteurs (augmentation de 14 \n\n% par rapport \u00e0 2014)\n\u2013 51 % nouveaux visiteurs; 49 % visiteurs \n\nr\u00e9guliers \n\u2013 100 962 visites pour \u2018Trouver un \n\n\u00e9valuateur\u2019 (augmentation de 16 % par \nrapport \u00e0 2014)\n\nAIC Program of Studies\n\u2013 12.6% increase in students registered with AIC Program \n\nof Studies through UBC since 2014 (1,120 vs 995)\n\u2022 13.7% increase in students who are not registered \n\nin the AIC Program of Studies, but are taking AIC\u2019s \ncourses offered through UBC (380 vs 432)\n\n\u2022 697 participants in AIC 101: Introduction to the \nAppraisal Profession webinar (a pre-requisite for \nCandidate Membership)\n\nProgramme d\u2019\u00e9tudes de l\u2019ICE\n\u2013 Augmentation de 12,6 % du nombre d\u2019\u00e9tudiants inscrits au Programme d\u2019\u00e9tudes de l\u2019ICE \n\ndonn\u00e9 par UBC depuis 2014 (1 120 contre 995)\n\u2022 Augmentation de 13,7 % du nombre d\u2019\u00e9tudiants non-inscrits au Programme \n\nd\u2019\u00e9tudes de l\u2019ICE mais qui suivent des cours de l\u2019ICE offerts par UBC (432 contre \n380)\n\n\u2022 697 participants au cours ICE 101: Introduction \u00e0 la profession d\u2019\u00e9valuateur par \nwebinaire (pr\u00e9alable au statut de membres stagiaire) \n\nPPS Webinar: 918 members \nparticipated in a Professional Practice \nwebinar versus 200 participants in \n2014\n\nWebinaire du SPP : 918 membres ont \nparticip\u00e9 au webinaire sur la Pratique \nprofessionnelle contre 200 participants \nen 2014\n\nOnline and print \nmedia impressions: \n14,840,020 \nimpressions\n\nImpressions dans les \nm\u00e9dias en ligne et \nimprim\u00e9s : 14 840 020\n\n14\n840\n020\n\n69\n6,046,268\n\nEarned media impressions: \nmore than 696,046,268 \nimpressions\n\nImpressions gagn\u00e9es dans les \nm\u00e9dias : plus de 696 046 268\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201652 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nHere is an example of how a CRA has successfully diversified his practice.\n\nCRA  \nDIVERSIFICATION\n\nHow did you get started doing \nassessment appeals?\nI was contacted by an individual, who had \nbeen referred to me by a local law firm. \nThis individual was quite wary of dealing \nwith the Municipal Property Assessment \nCorporation (MPAC). They asked for my \nhelp in providing them with a quality \nappraisal that would be submitted to \nMPAC. I found the work fascinating and \nvery rewarding and have been involved  \nin doing assessment appeals ever since.  \nAn offshoot of the assessment appeals \nhas been acting as an expert witness in \nAssessment Review Board (ARB) hearings.\n\nDid you take additional professional \ndevelopment in this area?\nYes, I have a working relationship with a \nlocal expert assessment appeal appraiser \nP.J. Smith, AACI, P.App and his son \n\nMichael Smith, who were very helpful \nin providing guidance through the \ninitial stages of my expanding into the \nassessment appeals area. I have done \nconsiderable reading on the subject \nthrough online resources such as \nhttp:\/\/elto.gov.on.ca\/arb\/ and https:\/\/\nwww.ombudsman.on.ca\/, as well as other \npublications and numerous consultations.\n\nHow do you ensure that you stay \nwithin your CRA scope of practice \nwhen doing assessment appeals?\nI make absolutely sure that I only take \non assessment appeal work that falls \nwithin my area of expertise, which means \nonly dealing with vacant or improved \nresidential properties that have up to \nfour self-contained units. Furthermore, \nmy personal philosophy towards my \nappraisal practice is that I only take on \n\nassignments that I have the competence \nto complete myself.  \n\n \nWhat is a typical day like for you \nwhen you are doing assessment \nappeals?\nI would typically be contracted to \ncomplete an appraisal to determine the \ntrue market value of the property, but \nalso to determine whether the property \nhas been assessed in a fair and equitable \nmanner. That means visiting the site, \nmeeting with the owners, researching \ncomparables, liaising with lawyers \nand MPAC. I also maintain a working \nknowledge of the Assessment Act and \nthe policies and procedures required for \neffective appeal work. If you do not stay \ncurrent with the Act, the battle will be \nlost before the fight even gets started. In \nmany cases, I am called on to be an expert \n\nStephen Otto, CRA is the president\/owner of Otto &#038; Company Residential Real Estate Appraisals \nin London, Ontario. He has over 20 years\u2019 experience in the real estate industry, and holds \nmultiple appraisal designations in both Canada and the U.S. He is also the current Chair of the \nLondon Chapter of the Appraisal Institute of Canada (AIC), a member of the Canadian Real Estate \nAssociation (CREA), the Ontario Real Estate Association (OREA), and the Canadian Employment \nRelocation Council (CERC).\n\nAssessment Appeals\n\n\u00a0Continued on page 55.\n\n\"I would suggest that this specific area of appraisal work is  \nbest suited for those with a great deal of patience, and those  \n\nwho can work well in extremely stressful situations.\"\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 53Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/elto.gov.on.ca\/arb\/\nhttps:\/\/www.ombudsman.on.ca\/\nhttps:\/\/www.ombudsman.on.ca\/\n\n\nDIVERSIFICATION\nD'UN CRA \n\nVoici un exemple de la fa\u00e7on dont un CRA a r\u00e9ussi \u00e0 diversifier sa pratique.\n\nComment avez-vous commenc\u00e9 \n\u00e0 interjeter appel en \u00e9valuation \nfonci\u00e8re?\nJ\u2019ai \u00e9t\u00e9 approch\u00e9 par une personne \nqui m\u2019avait \u00e9t\u00e9 recommand\u00e9e par un \ncabinet d\u2019avocats local. Cette personne \nse m\u00e9fiait de faire affaires avec la Soci\u00e9t\u00e9 \nd\u2019\u00e9valuation fonci\u00e8re des municipalit\u00e9s \n(SEFM). On m\u2019a demand\u00e9 d\u2019aider en \nfournissant une \u00e9valuation de qualit\u00e9 \ndevant \u00eatre soumise \u00e0 la SEFM. Ayant \ntrouv\u00e9 ce genre de travail fascinant et \ntr\u00e8s gratifiant, je n\u2019ai cess\u00e9 depuis \u00e0 \nfaire des appels en mati\u00e8re d\u2019\u00e9valuation \nfonci\u00e8re. Un \u00e0 c\u00f4t\u00e9 de ces appels consiste \n\u00e0 compara\u00eetre en qualit\u00e9 de t\u00e9moin expert \naux audiences de la Commission de \nr\u00e9vision de l\u2019\u00e9valuation fonci\u00e8re.\n\n \nAvez-vous suivi une formation \nprofessionnelle sp\u00e9cialis\u00e9e dans ce \ndomaine?\nOui, j\u2019ai une relation de travail avec un \nexpert local dans le domaine des appels en \nmati\u00e8re d\u2019\u00e9valuation fonci\u00e8re, P.J. Smith, \nAACI, P.App et son fils Michael, qui \nm\u2019ont beaucoup aid\u00e9 en me conseillant au \nd\u00e9but de mon expansion dans ce domaine \nd\u2019\u00e9valuation. J\u2019ai fait beaucoup de lectures \n\nsur le sujet gr\u00e2ce \u00e0 des ressources en \nligne telles http:\/\/elto.gov.on.ca\/arb\/ et \nhttps:\/\/www.ombudsman.on.ca\/, ainsi que \nd\u2019autres publications et de nombreuses \nconsultations.\n\n  \nComment vous assurez-vous que \nvous demeurez dans les limites de \nvotre pratique de CRA quand vous \npr\u00e9parez des appels en mati\u00e8re \nd\u2019\u00e9valuation fonci\u00e8re?\nJe m\u2019assure de n\u2019accepter que des travaux \nd\u2019appel qui rel\u00e8vent de mon domaine \nd\u2019expertise, ce qui signifie seulement \ndes terrains  vacants ou des propri\u00e9t\u00e9s \nr\u00e9sidentielles am\u00e9lior\u00e9es comptant un \nmaximum de quatre unit\u00e9s de logement. \nDe plus, j\u2019ai pour philosophie personnelle \nenvers ma pratique d\u2019\u00e9valuation d\u2019accepter \nseulement des contrats de service dont \nj\u2019ai les comp\u00e9tences voulues pour faire \nmoi-m\u00eame.  \n\n \n\u00c0 quoi ressemble une journ\u00e9e de \ntravail quand vous \u00eates en appel \nd\u2019une \u00e9valuation fonci\u00e8re?\nOn me demande normalement d\u2019effectuer \nune \u00e9valuation afin de d\u00e9terminer la vraie \nvaleur marchande de la propri\u00e9t\u00e9, mais \n\naussi pour \u00e9tablir si la propri\u00e9t\u00e9 a \u00e9t\u00e9 \n\u00e9valu\u00e9e de fa\u00e7on juste et I \u00e9quitable. Il \nme faut donc visiter les lieux, rencontrer \nles propri\u00e9taires, faire une recherche des \ncomparables, assurer la liaison avec les \navocats et la SEFM. Je me tiens \u00e9galement \nau fait de la Loi sur l\u2019 \u00e9valuation et sur \nles politiques et proc\u00e9dures requises \npour pr\u00e9senter un appel efficace. Si vous \nne vous tenez pas au courant de la Loi, \nvous perdrez la bataille avant m\u00eame de \ncommencer. Dans de nombreux cas, on \nm\u2019appelle \u00e0 t\u00e9moigner \u00e0 titre d\u2019expert et de \npr\u00e9senter un t\u00e9moignage \u00e0 une audience \nde revue d\u2019une \u00e9valuation. Quand vous \nr\u00e9pondez aux questions d\u2019un avocat \nen contre-interrogatoire, vous devez \n\u00eatre pr\u00eat, en qualit\u00e9 de t\u00e9moin expert, \n\u00e0 assumer l\u2019enti\u00e8re responsabilit\u00e9 de \nvotre rapport et vous devez vous assurer \nque vous \u00eates en mesure de l\u2019expliquer \nd\u2019une mani\u00e8re qui d\u00e9montre clairement \nvotre comp\u00e9tence et votre expertise. Je \ndois donc passer beaucoup de temps \u00e0 \n\u00e9tudier tous les d\u00e9tails de mon rapport, \u00e0 \npr\u00e9voir les questions qui pourraient \u00eatre \nsoulev\u00e9es et \u00e0 avoir \u00e0 port\u00e9e de la main les \nrenseignements et les ressources \u00e0 l\u2019appui \nde mes opinions en mati\u00e8re d\u2019\u00e9valuation. \n\nStephen Otto, CRA, est le pr\u00e9sident\/propri\u00e9taire de Otto &#038; Company Residential Real Estate \nAppraisals \u00e0 London, en Ontario. Il poss\u00e8de plus de  20 ans d\u2019exp\u00e9rience dans l\u2019industrie de \nl\u2019immobilier et est titulaire de plusieurs d\u00e9signations dans le domaine de l\u2019\u00e9valuation tant au \nCanada qu\u2019aux \u00c9.-U. Il est aussi pr\u00e9sident du chapitre de London de l\u2019Institut canadien des \n\u00e9valuateurs (ICE), membre de l\u2019Association canadienne de l\u2019immeuble (ACI), de l\u2019Ontario Real \nEstate Association (OREA) et du Canadian Employment Relocation Council (CERC).\n\nAppels en mati\u00e8re d\u2019\u00e9valuation fonci\u00e8re\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201654 Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/elto.gov.on.ca\/arb\/\nhttps:\/\/www.ombudsman.on.ca\/\n\n\nJ\u2019oserais dire que cet aspect du \ntravail d\u2019\u00e9valuation convient surtout \u00e0 \nceux qui ont beaucoup de patience et \u00e0 \nceux qui excellent dans des situations \nextr\u00eamement stressantes. \n\n \nEst-ce une partie importante de \nvotre travail et comment votre \npratique en a-t-elle b\u00e9n\u00e9fici\u00e9?\nMon travail en appel en mati\u00e8re \nd\u2019\u00e9valuation fonci\u00e8re me tient parfois tr\u00e8s \noccup\u00e9. Cependant, j\u2019aime aussi plusieurs \nautres aspects de la profession d\u2019\u00e9valuateur \net je m\u2019efforce de maintenir une pratique \nbien \u00e9quilibr\u00e9e.  Les avantages de \ncette sp\u00e9cialisation sont que j\u2019ai acquis \nune bonne connaissance de la Loi sur \nl\u2019 \u00e9valuation et des proc\u00e9d\u00e9s entourant \nle travail d\u2019appel et les audiences de \nrevue. De plus, ce domaine de pratique \n\nwitness and provide testimony  \nin an assessment review hearing.  \nWhen you are being cross-examined by \na lawyer, you have to be prepared as an \nexpert witness to be fully accountable \nfor your report, and to ensure that you \ncan explain yourself in a way that clearly \ndemonstrates your competence and \nexpertise. That means spending extra time \ngoing over details of my report, anticipating \nany questions that may arise and having the \ninformation and resources at my fingertips \nto back up my valuation opinions.  \n\nI would suggest that this specific  \narea of appraisal work is best suited for \nthose with a great deal of patience, and \nthose who can work well in extremely \nstressful situations. \n\nIs this a significant part of  \nthe work you do and how has it \nbenefitted your practice?\nMy involvement with assessment appeals \n\nkeeps me quite busy at times. However, \nI also enjoy many other avenues of the \nappraisal profession and try to maintain \na well-rounded appraisal practice.  The \nbenefits for me are the knowledge \nobtained relative to the Assessment Act and \nthe processes involved relating to appeal \nwork and review hearings. As well, this \narea of practice has improved my general \nwork product as a result of having to \nexpand my knowledge of the Canadian \nUniform Standards of Professional \nAppraisal Practice (CUSPAP) and my \nmethodology in order to ensure that I can \nprovide a level of work required to stand \nthe test of scrutiny from MPAC and  \nthe arbitrator.\n\nWhat are the biggest challenges in \ndoing assessment appeals?\nSome of the biggest challenges are \npreparing for and attending a hearing. \nThe paperwork and preparation can \n\nbe somewhat onerous, as well the time \ninvestment of attending the hearings \n(which can take an entire day or more for \nthe hearing alone). Another significant \nchallenge involves staying current with \ncontstantly changing legislation that can \nbe very complex.  \n\nWhat do you find rewarding about \ndoing assessment appeals? \nThe most rewarding part of completing \nthis type of work is when you get a \ncall from a client saying that MPAC \nhas reduced its assessment due to your \nappraisal submission, or when there has \nbeen a positive outcome in an arbitration \nhearing. There is a feeling of elation, \na sense of accomplishment, and the \nknowledge that you have provided your \nclient with the best possible service to \nbring that outcome about. In my work \nexperience, there is no other feeling quite \nlike it. \n\na am\u00e9lior\u00e9 l\u2019ensemble du produit de mon \ntravail par suite de l\u2019obligation d\u2019\u00e9largir \nmes connaissances des Normes uniformes \nde pratique professionnelle en mati\u00e8re \nd\u2019 \u00e9valuation au Canada (NUPPEC) et \nmes m\u00e9thodes de travail afin d\u2019\u00eatre en \nmesure de fournir le niveau d\u2019exactitude \nrequis pour passer l\u2019examen approfondi de \nla SEFM et de l\u2019arbitre.\n\n \nQuels sont les plus grands d\u00e9fis dans \nle domaine des appels  en mati\u00e8re \nd\u2019\u00e9valuation fonci\u00e8re?\nLa pr\u00e9paration et la comparution \u00e0 une \naudience sont parmi les plus grands \nd\u00e9fis. La paperasserie et la pr\u00e9paration \npeuvent \u00eatre passablement lourdes, de \nm\u00eame que le temps investi \u00e0 assister \naux audiences (ce qui peut prendre \nparfois toute une journ\u00e9e ou m\u00eame plus \n\nen audience). Un autre d\u00e9fi important \nconcerne la n\u00e9cessit\u00e9 de se tenir au \ncourant d\u2019une l\u00e9gislation sans cesse \nchangeante qui peut \u00eatre tr\u00e8s complexe.  \n\n \nQu\u2019est-ce qui vous apporte le plus de \nsatisfaction dans ce travail d\u2019appel? \nCe que je trouve le plus gratifiant dans ce \ngenre de travail, c\u2019est quand je re\u00e7ois un \nappel d\u2019un client qui m\u2019informe que la \nSEFM a r\u00e9duit son \u00e9valuation \u00e0 cause de \nmon rapport d\u2019\u00e9valuation ou quand une \naudience en arbitrage a un d\u00e9nouement \npositif. On \u00e9prouve un sentiment \nd\u2019euphorie, l\u2019assurance d\u2019avoir fait du bon \ntravail et la confirmation d\u2019avoir rendu \nle meilleur service possible au client \npour parvenir \u00e0 ce r\u00e9sultat. Dans mon \nexp\u00e9rience de travail, rien ne se compare \n\u00e0 ce sentiment. \n\nContinued from page 53.\n\n\u00ab On \u00e9prouve un sentiment d\u2019euphorie, l\u2019assurance d\u2019avoir fait du bon travail \net la confirmation d\u2019avoir rendu les meilleurs services possible  \n\nau client pour parvenir \u00e0 ce r\u00e9sultat (positif). \u00bb\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 55Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nT he 2015 federal election ushered in a new government with a strong mandate to pursue innovative ideas and direction. \nThe Advocacy Sub-Committee is \nproactively leveraging the changes in \nleadership to create new opportunities \nto introduce the Appraisal Institute of \nCanada (AIC) and our members\u2019 issues \nto Parliamentarians. \n\nFirst on our agenda was to develop \na relationship with the  Finance \n\nMinister\u2019s Office. A congratulatory \nletter was sent to the Honourable \n\nMinister Morneau, and, \nshortly thereafter, the AIC \n\nreceived an invitation \nto meet with one of his \nsenior policy advisors \nto discuss various issues \n\nincluding over-reliance on \nAVMs, data access, concerns \n\nover demands for unrealistic \nturnaround times for appraisals, \n\nand the downward pressure on \nfees. These discussions were very \nproductive. We left the senior \n\npolicy advisor with an enhanced \nunderstanding of the role that our \n\nprofessional members play in \nsupporting a healthy real estate \n\neconomy. We have also opened up \nthe opportunity for the AIC to be \n\nfurther consulted regarding housing \nand other real estate-related public policy. \n\nAIC was also invited to meet with \nsenior advisors and economists within \nthe Department of Finance, including \nthe Economic and Fiscal Policy Branch \nand Financial Sector Policy Branch. Both \n\nbranches are responsible for policy dealing \nwith housing and the financial practices \nof lending institutions. AIC provided an \noverview of the qualifications of members, \nthe important role our members play \nin housing transactions, and the issues \nconcerning our members. This meeting was \nvery productive and provided the AIC with \nan opportunity to establish its credibility \nand voice its desire to be part of the public \npolicy solution. \n\nIn January, AIC made a submission \nto the 2016 Pre-Budget Consultations.  \nThis submission was completed online and \non Twitter through #PBC16. A formal letter \nintroducing AIC and our members\u2019 issues \nhas been sent to members of parliament \nwith portfolios that are relevant to real \nestate, finance and the economy. \n\nAIC was also active in meeting with our \nnational partners \u2013 appraisal management \ncompanies, lending institutions and \nmortgage regulators. Through these \nmeetings, the Institute continues to profile \nand elevate our member\u2019s issues and to \nsecure open lines of communication to \naddress current challenges and identify \nfuture opportunities. \n\nProvincial activities\nThe provincial representatives on the \nAdvocacy Sub-Committee continue to \nmonitor key issues and conduct outreach \nwith provincial governments and industry \nstakeholders. The result of this outreach \nis starting to manifest itself \u2013 whether \nit be formal letters of recognition from \nMinisters\u2019 Offices that AIC is being added \nto consultations and public outreach; \ninvitations to meet with key decision \n\nADVOCACY\n\nADVOCACY IN ACTION\n\n\"THROUGH THESE \nMEETINGS, THE INSTITUTE \n\nCONTINUES TO PROFILE \nAND ELEVATE OUR \n\nMEMBER\u2019S ISSUES AND \nTO SECURE OPEN LINES \n\nOF COMMUNICATION \nTO ADDRESS CURRENT \n\nCHALLENGES AND IDENTIFY \nFUTURE OPPORTUNITIES.\"\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201656 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\nADVOCACY\n\n\"AIC IS IN A UNIQUE POSITION TO TAP INTO OUR MEMBERS\u2019 KNOWLEDGE AND \nEXPERIENCE IN EVERY REGION AND ON EVERY ISSUE.\"\n\nmakers; offers to submit comments; \nor requests for feedback on official \ndocuments or potential partnership \ninitiatives. For example, AIC-NL has been \ninvited to submit proposals to the new \nLiberal Government in Newfoundland-\nLabrador regarding ways to assist the \ngovernment in becoming more efficient, \nsaving money and raising revenue. \nFurthermore, many provinces will be \nparticipating in local events, such as Real \nEstate Forums, to provide added exposure \nand credibility within the marketplace. \n\nMembership polls\nWhat do you do when you have over \n5,000 appraisers in a \u2018room?\u2019 You ask \nthem for their opinion, of course.\n\nAlthough it may only be a \n\u2018virtual room,\u2019 the Sub-Committee \nimplemented a monthly membership \npoll to openly listen to members\u2019 \nopinions and needs. AIC is in a unique \nposition to tap into our members\u2019 \nknowledge and experience in every \nregion and on every issue. This has \nproven productive as well on public \npolicy issues. In fact, with the results \nof the January membership poll \nrevealing interesting 2016 industry \npredictions and public policy issues, \nthe AIC received an opportunity to \nbe published in the Hill Times. The \narticle entitled Fed\u2019s Bank Act review \nshould pay attention to issues \naffecting valuations was published \n\non January 25, 2016. To see the full \narticle, go to www.aicanada.ca\/ \nmedia-centre\/aic-in-the-news\/\n\nAll the member poll highlights \nwill be shared with the members in \ncommuniques and on the website. Be sure \nto participate \u2013 the more members who \nshare their opinions, the better this poll \nwill become. \n\nFor more details on membership poll \nresults, go to http:\/\/www.aicanada.ca\/\nmember\/advocacy-government-relations\/ \n\nIf you have questions or comments, \nplease contact the Advocacy Sub-\nCommittee Chair, John Manning, \nAAIC, P. App., or Sheila Roy, Director, \nCommunications and Marketing at \nadvocacy@aicanada.ca. \n\nHOW CAN YOU PUT  \nA VALUE ON \n\nENVIRONMENTAL RISK?\n\nFor more information, please call  \n1-866-517-5204 or visit our website at \n\nwww.erisinfo.com.\n\nYou\u2019re an expert at appraising \nproperties, but did you know you can \nalso calculate risk that may be hidden \n\naround a site? ERIS is Canada\u2019s \nleading provider of environmental risk \n\ninformation, data and historical records \nthat can help you uncover the things you \n\ncan\u2019t see on your own.\n\nClick HERE to return to \nTABLE OF CONTENTS\n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 57Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.aicanada.ca\/media-centre\/aic-in-the-news\/\nhttp:\/\/www.aicanada.ca\/member\/advocacy-government-relations\/\nmailto:advocacy@aicanada.ca\nhttp:\/\/www.erisinfo.com\n\n\nD\u00c9FENSE\n\nL es \u00e9lections f\u00e9d\u00e9rales de 2015 ont mis en place un nouveau gouvernement avec un mandat solide; ce gouvernement propose \ndes id\u00e9es et des orientations novatrices. \nLe sous-comit\u00e9 de la d\u00e9fense des droits \nfait preuve de proactivit\u00e9 pour tirer \nparti de ce changement de garde et pour \nmieux faire conna\u00eetre l\u2019Institut canadien \ndes \u00e9valuateurs (ICE) et ses membres  \naux parlementaires. \n\nD\u2019entr\u00e9e de jeu, notre intention \n\u00e9tait de d\u00e9velopper nos relations avec \n\nle bureau du ministre des Finances. \nUne lettre de f\u00e9licitations a d\u2019abord \n\u00e9t\u00e9 envoy\u00e9e au ministre des Finances, \nl\u2019honorable William Francis Morneau. \nCette lettre a \u00e9t\u00e9 suivie d\u2019une invitation \nfaite \u00e0 l\u2019ICE de rencontrer l\u2019un des \nprincipaux conseillers du ministre en \nmati\u00e8re de politiques afin de discuter \nde divers enjeux, notamment la \u00ab \nsurconfiance \u00bb donn\u00e9e aux MEA, l\u2019acc\u00e8s \naux donn\u00e9es, les inqui\u00e9tudes touchant le \ntemps de r\u00e9ponse irr\u00e9aliste accord\u00e9 pour \nles \u00e9valuations et les pressions \u00e0 la baisse \nexerc\u00e9es sur les frais. Ces discussions ont \n\n\u00e9t\u00e9 tr\u00e8s fructueuses. Lorsque nous \navons quitt\u00e9 le conseiller du \nministre Morneau, il poss\u00e9dait \nune meilleure compr\u00e9hension \ndu r\u00f4le jou\u00e9 par nos membres \nprofessionnels pour garder \n\nl\u2019\u00e9conomie canadienne \nde l\u2019immobilier en sant\u00e9. \nCette rencontre permet \naussi \u00e0 l\u2019ICE d\u2019obtenir une \nfen\u00eatre de consultation \nplus \u00e9tendue lorsque \ndes politiques publiques \n\nportant sur le logement \net l\u2019immobilier seront au \n\nmenu des discussions du \ngouvernement. \nL\u2019ICE a \u00e9galement \u00e9t\u00e9 invit\u00e9e \n\n\u00e0 rencontrer des conseillers et \ndes \u00e9conomistes de haut niveau du \nminist\u00e8re des Finances, y compris \ndes membres de la Direction des \npolitiques \u00e9conomiques et budg\u00e9taires \net de la Direction de la politique du \nsecteur financier. Ces deux directions \n\nLA D\u00c9FENSE  \nDES DROITS \u00c0 L\u2019\u0152UVRE\n\n\u00ab L\u2019ICE D\u00c9TIENT UNE \nPOSITION UNIQUE \n\nPOUR R\u00c9CUP\u00c9RER LES \nCONNAISSANCES ET \n\nL\u2019EXP\u00c9RIENCE DES \nMEMBRES DE CHAQUE \n\nR\u00c9GION POUR TOUS LES \nENJEUX. \u00bb\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201658 Click HERE to return to \nTABLE OF CONTENTS\n\n\n\ng\u00e9n\u00e9rales sont responsables des politiques \nportant sur le logement et les pratiques \nfinanci\u00e8res des \u00e9tablissements de cr\u00e9dit. \nL\u2019ICE a pu leur donner un aper\u00e7u \ndes qualifications de ses membres, du \nr\u00f4le important qu\u2019ils jouent dans les \ntransactions immobili\u00e8res et des enjeux \nauxquels ils sont confront\u00e9s. Cette \nr\u00e9union a \u00e9t\u00e9 tr\u00e8s productive. Elle a \ndonn\u00e9 \u00e0 l\u2019ICE l\u2019occasion de d\u00e9montrer \nsa cr\u00e9dibilit\u00e9 et d\u2019exprimer son d\u00e9sir de \n\u00ab faire partie de la solution \u00bb pour les \nenjeux de la politique publique. \n\nEn janvier, l\u2019ICE a fait une \npr\u00e9sentation dans le cadre des \nconsultations pr\u00e9alables au budget \nde 2016. Cette communication a \u00e9t\u00e9 \nsoumise en ligne par l\u2019entremise de \nTwitter #PBC16. Une lettre officielle \npr\u00e9sentant l\u2019ICE a par ailleurs \u00e9t\u00e9 \nenvoy\u00e9e aux d\u00e9put\u00e9s qui d\u00e9tiennent un \nportefeuille li\u00e9 au secteur immobilier, \naux finances et \u00e0 l\u2019\u00e9conomie. \n\nL\u2019ICE a \u00e9galement \u00e9t\u00e9 tr\u00e8s actif \ndans ses relations avec des partenaires \nnationaux et plusieurs rencontres ont \neu lieu avec des compagnies de gestion \nd\u2019\u00e9valuation, des \u00e9tablissements de \ncr\u00e9dit et des r\u00e9gulateurs de pr\u00eats \nhypoth\u00e9caires. Ces r\u00e9unions ont permis \n\u00e0 l\u2019Institut de poursuivre la d\u00e9finition \net le positionnement des enjeux de \nses membres, d\u2019\u00e9tablir des canaux de \ncommunication permettant de s\u2019attaquer \naux d\u00e9fis courants et de rep\u00e9rer les \noccasions favorables susceptibles de  \nse pr\u00e9senter. \n\nActivit\u00e9s provinciales\nLes repr\u00e9sentants provinciaux faisant \npartie du sous-comit\u00e9 de la d\u00e9fense des \n\ndroits poursuivent leur surveillance \ndes enjeux cl\u00e9s et m\u00e8nent une \nd\u00e9marche de sensibilisation avec \nles gouvernements provinciaux et \nles parties prenantes de l\u2019industrie. \nLe r\u00e9sultat de cette entreprise de \nsensibilisation commence d\u2019ailleurs \u00e0 \nprendre forme : lettres de bureaux de \nministres reconnaissant officiellement \nque l\u2019ICE a \u00e9t\u00e9 ajout\u00e9 comme un \nintervenant lors de consultations et de \nd\u00e9marches de sensibilisation aupr\u00e8s \ndu public; invitations pour rencontrer \nles principaux d\u00e9cideurs; demandes de \nr\u00e9troactions; demandes de commentaires \npour des documents officiels; possibles \ninitiatives de partenariat. \n\nPar exemple, l\u2019ICE de Terre-\nNeuve-et-Labrador a \u00e9t\u00e9 invit\u00e9e \u00e0 \nsoumettre des propositions au nouveau \ngouvernement lib\u00e9ral de la province \nafin de l\u2019aider \u00e0 devenir plus efficace, \u00e0 \nfaire des \u00e9conomies et \u00e0 augmenter ses \nrevenus. Par ailleurs, plusieurs instances \nprovinciales participeront \u00e0 des \n\u00e9v\u00e9nements locaux, comme des forums \nsur l\u2019immobilier, afin d\u2019obtenir une \nmeilleure visibilit\u00e9 et plus de cr\u00e9dibilit\u00e9 \ndans notre march\u00e9. \n\nSondage aupr\u00e8s des membres\nQue faites-vous lorsqu\u2019il y a 5 000 \n\u00e9valuateurs rassembl\u00e9s dans une salle? \nVous leur demandez leur opinion  \nbien s\u00fbr.\n\nBon, il peut s\u2019agir d\u2019une \u00ab salle \nvirtuelle \u00bb; n\u2019emp\u00eache, le sous-comit\u00e9 a \nmis en place un sondage mensuel pour \nles membres qui permettra d\u2019\u00e9couter les \nopinions et les besoins des membres avec \nune grande ouverture. L\u2019ICE d\u00e9tient \n\nune position unique pour r\u00e9cup\u00e9rer \nles connaissances et l\u2019exp\u00e9rience des \nmembres de chaque r\u00e9gion pour tous les \nenjeux. Cette d\u00e9marche s\u2019est \u00e9galement \nr\u00e9v\u00e9l\u00e9e fructueuse pour des enjeux de \npolitique publique. \n\nEn fait, les r\u00e9sultats positifs \nobtenus pour le sondage de janvier \nqui fait notamment \u00e9tat de pr\u00e9visions \nint\u00e9ressantes pour l\u2019industrie et les \nenjeux politiques en 2016 ont valu \u00e0 \nl\u2019ICE un article dans le Hill Times. \n\nL\u2019article intitul\u00e9 Fed\u2019s Bank Act \nreview should pay attention to \nissues affecting valuations (Projet de \nloi f\u00e9d\u00e9ral sur les banques f\u00e9d\u00e9ral  \ndevrait prendre en compte les enjeux \naffectant les \u00e9valuations immobili\u00e8res) \na \u00e9t\u00e9 publi\u00e9 le 25 janvier 2016. Vous \npouvez consulter l\u2019article int\u00e9gralement \nsur www.aicanada.ca\/media-centre\/ \naic-in-the-news\/.\n\nTous les points saillants des sondages \nseront transmis aux membres par \nl\u2019interm\u00e9diaire de communiqu\u00e9s et \nd\u2019articles sur notre site Web. Assurez-\nvous de participer \u00e0 ces \u00e9v\u00e9nements  \n\u2013 la qualit\u00e9 de ces sondages ne pourra \nqu\u2019\u00eatre meilleure \u00e0 mesure que la \nparticipation augmentera. \n\nPour obtenir plus d\u2019informations  \nau sujet des r\u00e9sultats du sondage, rendez-\nvous sur http:\/\/www.aicanada.ca\/ \nmember\/advocacy-government-relations\/ \n\nSi vous avez de questions ou des \ncommentaires, veuillez communiquer \navec le pr\u00e9sident du sous-comit\u00e9 de \nd\u00e9fense des droits de l\u2019ICE, John \nManning, AACI, P. App., ou Sheila Roy, \ndirectrice, communication et marketing \n\u00e0 advocacy@aicanada.ca. \n\nD\u00c9FENSE\n\n\u00ab  CES R\u00c9UNIONS ONT PERMIS \u00c0 L\u2019INSTITUT DE POURSUIVRE LA D\u00c9FINITION ET \nLE POSITIONNEMENT DES ENJEUX DE SES MEMBRES, D\u2019\u00c9TABLIR DES CANAUX DE \n\nCOMMUNICATION PERMETTANT DE S\u2019ATTAQUER AUX D\u00c9FIS COURANTS ET DE REP\u00c9RER \nLES OCCASIONS FAVORABLES SUSCEPTIBLES DE SE PR\u00c9SENTER.  \u00bb \n\nVolume 60 | Book 1 \/ Tome 1 | 2016  |  \u00c9valuation Immobili\u00e8re au Canada  |  Canadian Property Valuation 59Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.aicanada.ca\/media-centre\/aic-in-the-news\/\nhttp:\/\/www.aicanada.ca\/member\/advocacy-government-relations\/\nmailto:advocacy@aicanada.ca\n\n\nNEWS\/NOUVELLES\n\nIN MEMORIAM\nThe following members of the Appraisal Institute of Canada \nhave passed away. On behalf of everyone connected with \nthe Institute and the profession, we extend our sincerest \nsympathies to their families, friends and associates. \n\nLes membres suivant de l\u2019Institut canadien des \u00e9valuateurs  \nsont d\u00e9c\u00e9d\u00e9s. Au nom de tous ceux qui oeuvrent de pr\u00e8s ou de loin \nau sein de l\u2019Institut et de la profession, nous exprimons nos plus \nsinc\u00e8res condol\u00e9ances \u00e0 leurs familles, amis et associ\u00e9s.\n\nDerek Chadwick, AACI, P. App., Retired \nToronto, ON\n\nBruce Hartman, CRA \nBurlington, ON\n\nMurray Leff, AACI, P. App., Retired \nLondon, ON\n\nFred Roth, AACI, P.App \nWoodbridge, ON\n\nStephen Wingfield, CRA \nSimcoe, ON\n\nP resenting new ideas, challenging the status quo, and encouraging us to think outside the box, our recently launched AIC Exchange encourages conversation and enhances understanding among the valuation \ncommunity and real estate industry. \n\nWhile feature articles submitted by AIC members, partners \nand other real estate experts are reviewed for readability and \nappropriateness, the blog provides editorial freedom to present \nideas and views that may be contrary to popular opinion. \n\nSubmit an article or comment in the language of your \nchoice to add to the discussions and debates. Share the article \nwith your clients, colleagues and friends to enhance their \nunderstanding of what an appraiser does.\n\nYour participation will make this a rich resource and \nconnect people from different regions with different views. \n\nSee www.AICexchange.ca for details.\n\nBE A PART OF THE NEW PRENEZ PART AU NOUVEAU\n\nC on\u00e7u pour pr\u00e9senter de nouvelles id\u00e9es, d\u00e9fier le statu quo et encourager le lecteur \u00e0 sortir des sentiers battus, le nouveau \u00c9change de l\u2019ICE encourage la conversation et favorise la compr\u00e9hension au sein de la communaut\u00e9 \ndes \u00e9valuateurs et de l\u2019industrie immobili\u00e8re. \n\nAlors que les articles vedettes soumis par les membres et \npartenaires de l\u2019ICE et autres experts de l\u2019immobilier sont revus \npour en assurer  la lisibilit\u00e9 et la pertinence, le blogue donne \npleine libert\u00e9 \u00e0 l\u2019expression d\u2019id\u00e9es et de points de vue qui \npeuvent \u00eatre contraires \u00e0 l\u2019opinion populaire.   \n\nSoumettez un article ou un commentaire dans la langue de \nvotre choix afin d\u2019animer le d\u00e9bat et la discussion. Partagez les \narticles que nous afficherons avec vos clients, vos coll\u00e8gues et \nvos amis afin de les aider \u00e0 mieux comprendre le travail d\u2019un \n\u00e9valuateur. Votre participation fera de ce blogue une pr\u00e9cieuse \nressource qui rapprochera les gens de diff\u00e9rentes r\u00e9gions et de \ndiff\u00e9rents points de vue. \n\nPour plus de d\u00e9tails, consultez www.\u00c9changeICE.ca\n\nAppraise more than farmland\nExpand your expertise and appraise some \nof Canada\u2019s most progressive agricultural, \ncommercial and industrial assets. Send \nyour resum\u00e9 to richard.hayes@fcc.ca and \nquote Valuation Candidates in the subject \nline.\n\nVous \u00e9valuerez plus que  \ndes terres agricoles.\n\u00c9largissez votre champ de comp\u00e9tences et \n\u00e9valuez des biens agricoles, commerciaux \net industriels parmi les plus \u00e9volu\u00e9s au \nCanada. Faites parvenir votre curriculum \nvit\u00e6 par courriel \u00e0 richard.hayes@fac.ca \nen indiquant Candidats pour l\u2019\u00c9valuation \ndans la ligne objet.\n\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201660 Click HERE to return to \nTABLE OF CONTENTS\n\nhttp:\/\/www.AICexchange.ca\nhttp:\/\/www.\ufffdchangeICE.ca\nmailto:richard.hayes@fcc.ca\nmailto:richard.hayes@fac.ca\n\n\nReserve Fund \nPlanning Program \n(RFPP)\n\nThe RFPP program comprises two courses:\n\nCPD 891: Fundamentals of Reserve Fund Planning\n\nA comprehensive overview of the underlying theory, \nprinciples, and techniques required for preparing reserve \nfund studies and depreciation reports.\n\nCPD 899: Reserve Fund Planning Guided Case Study\n\nGuides the student through the process of completing a \ncomprehensive reserve fund study report. \n\nThe UBC Real Estate Division\u2019s Reserve Fund Planning \nProgram (RFPP) is a national program designed to provide \nreal estate practitioners with the necessary expertise \nrequired to complete a diversity of reserve fund studies and \ndepreciation reports. \n\nThe program covers a variety of property types from \ndi\ufffderent Canadian provinces, o\ufffdering both depth and \nbreadth in understanding how reserve fund studies are \nprepared for condominium\/stratas and other properties.\n\nFind out more and apply to the \nprogram now: \n\nrealestate.ubc.ca\/RFPP\ntel:  604.822.2227 \/ 1.877.775.7733\n\nemail:  rfpp@realestate.sauder.ubc.ca\n\nThose holding the CRA or AACI \ndesignations have met the program \npre-requisites and are eligible for \ndirect entry into the RFP program.\n\nmailto:rfpp@realestate.sauder.ubc.ca\nhttp:\/\/realestate.ubc.ca\/rfpp\n\n\nDESIGNATIONS CANDIDATES STUDENTS \/ D\u00c9SIGNATIONS STAGIAIRES \u00c9TUDIANTS\n\nThe Appraisal Institute of Canada (AIC), together with the provincial associations and the provincial bodies affiliated with the AIC, commend the \nfollowing members who completed the rigorous requirements for accreditation as a Designated Member of the AIC during the period October 17, 2015 \nto February 18, 2016:\n\nL\u2019Institut canadien des \u00e9valuateurs (ICE), en collaboration avec les associations provinciales et les organismes provinciaux affili\u00e9s \u00e0 l\u2019ICE, f\u00e9licitent les membres \nsuivants qui ont compl\u00e9t\u00e9 le programme rigoureux d\u2019accr\u00e9ditation \u00e0 titre de membre d\u00e9sign\u00e9 de l\u2019ICE durant la p\u00e9riode du 16 octobre, 2015 au 18 fevrier, 2016\u00a0:\n\nAIC DESIGNATIONS GRANTED \/ D\u00c9SIGNATIONS OBTENUES DE L\u2019ICE\n\nCANDIDATES \/ STAGIAIRES\nAIC welcomed the following new Candidate members during the period October 17, 2015 to February 18, 2016: \nL\u2019ICE souhaite la bienvenue aux personnes suivantes qui ont joint les rangs des membres stagiaires durant la p\u00e9riode du 16 octobre, 2015 au 18 fevrier, 2016\u00a0:\n\nSTUDENTS \/ \u00c9TUDIANTS\nThis category of membership serves as the first step on the path to designation for those completing their requirements for Candidate membership.  \nStudents considering the appraisal profession as a career option are also welcomed to this category of membership.\n\nCette cat\u00e9gorie de membre constitue la premi\u00e8re \u00e9tape sur la voie de la d\u00e9signation pour ceux qui s\u2019affairent \u00e0 compl\u00e9ter les exigences de la cat\u00e9gorie de membre stagiaire. \nLes \u00e9tudiants qui contemplent une carri\u00e8re comme \u00e9valuateur professionnel sont bienvenus \u00e0 joindre cette cat\u00e9gorie de membre.\n\nAACI, P.APP Accredited ApprAiser cAnAdiAn institute CRA cAnAdiAn residentiAl ApprAiser\nALBERTA\nTrevor J. Birchall\nKen Heemeryck\nWhitney Mann\n\nBRITISH COLUMBIA\nShaun R. Blythen\nCatherine McGovern\n\nNEWFOUNDLAND\nMike Warr\n\nNEW BRUNSWICK\nBlake Upham\n\nQUEBEC\nLan Mi\n\nSASKATCHEWAN\nChiung-yu (Amy) Huang\n\nALBERTA\nRaymond Tralnberg\n\nBRITISH COLUMBIA\nRuby Kung\n\nNEW BRUNSWICK\nEve Levesque\nTyler James Melling\nMark L. Reynolds\n\nSASKATCHEWAN\nRachel Hellings\n\nALBERTA\nAdam Andrews\nDavid Bayne\nDerek Berreth\nGillian Darragh\nDale Grandbois\nTyler Haldane\nAndrada Ioja\nJiabai Li\nLara Loy\nClayton Nakaska\nMichael Ryan\nYe Wang\nJanelle Wong\n\nBRITISH COLUMBIA\nAfshin Ameri-Heydari\nSoojin Bok\nConnor Jackson Braid\nMichelle Yin Lam Cheung\nCarl J. Demers\nKris G. Elvevoll\n\nAndrew Ross Evans\nAlanna Ottavia Gagliani\nTricia Goss\nCrystal Hillton\nJeff M. Isert\nKonrad Korkowski\nAmanda Lidster\nTony Fang Xia Liu\nAyron Mccarthy\nLaila Mcmillan\nDiana Newton\nHamidreza Sharif\nChris D. Smith\nSuzanne Stone\nWai Fung Wong\n\nNOVA SCOTIA\nCale Kilyanek\nCody N. Scott\nAnn Smith Macquarrie\n\nONTARIO\nAmir Afrasiabi\nBryan F. Baar\nInderpreet K. Bahra\nYehuda Belzberg\nYuri Bindas\nJames Caine\nDerek E. Camastra\nChun Long Chan\nMan Chung(Tyler) Chan\nChris J. Clademenos\nMary P. Couturier-\nStallbohm\nMark J. Danch\nMike Dunbrack\nStephanie S. Elliott\nShekib Farid\nMelissa K. Fischer\nEdward Franolic\nJonathan P. Fung\nJake T. Gofton\nNadine Hayes\nJohnson Hoang\n\nJerry James\nBrent Jodoin\nDavid D. Katulic\nJoseph F. Lacasse\nChristopher B. Lavell\nBryce J. Mckernan\nThomas Mclean\nLauren Merklinger\nMohammad Modiri\nPerinpanathan (Peri) \nNadarajah\nNicole A. Nguyen\nSimeon Nkeshimana\nYoonsun (Catherine) Oh\nBhavinkumar K. Patel\nHilpeshkumar Patel\nDan C. Platonov\nAtanas Popov\nMladen Rakanovic\nZahid Rehman\nMichelle Richardson\nYasamin Rismani\nMegan Sauro-Love\n\nRobert J. C. Sedore\nTetyana Shapovalova\nLinda L. Tatler\nJustin Taylor\nGlenn E. Vaughan\nBrennan Visser\nCaitlin M. Wagner\nTejveer S. Walia\nTim Warrilow\nSummer Willan\nAndy Wright\nBenny Xie\nJovy Yung\n\nQUEBEC\nKris Arvanitakis\nLuis F. Castro Avila\nLaurie J. Mondoux Poirier\n\nSASKATCHEWAN\nFeng Yang\n\nYUKON (OR BC?)\nAmboka Wameyo\n\nALBERTA\nSteven Bello\nKatlyn Hudema\nDiva Mangal\nAmanda Sears\n\nBRITISH COLUMBIA\nDavid Tat Ming Lam\nBrent Sieb\nRobert Andrew \nWhiteman\n\nONTARIO\nClinton Davis\nAbram Girgis\nLiqiong Huang\nWei Kao\nYin Bing Vienna Loo\n\nSoonyoung Park\nWeiqing(Tracy) Shi\nLynn Diane Smillie\nMichael J. Wisz\nSang Sook (Susan) You\n\nQUEBEC\nKarl A. Belony\n\nCONNECTING THE REAL ESTATE INDUSTRY\n\nINDEPENDENT \n\nREAL ESTATE \n\nINTELLIGENCE\n\n> Research, Valuation &#038; Advisory<\/p>\n<p>> Property Tax<\/p>\n<p>> Cost Consulting &#038; Project Management <\/p>\n<p>> ARGUS Software<\/p>\n<p>> Geomatics<\/p>\n<p>Our five core practices \u2013<br \/>\nembody and reflect decades<br \/>\nof experience, a broad range<br \/>\nof expertise, and leading edge<br \/>\ntechnology.<\/p>\n<p>Empowering clients to analyze, gain insight and  <\/p>\n<p>recognize value on their real estate investments.<\/p>\n<p>Altus Group is the leading provider of independent  <\/p>\n<p>advisory services, software, and data solutions to the  <\/p>\n<p>global commercial real estate industry.<\/p>\n<p>416 641 9900      altusgroup.com      info@altusgroup.com<br \/>\nCanadian Property Valuation  |  \u00c9valuation Immobili\u00e8re au Canada  |  Volume 60 | Book 1 \/ Tome 1 | 201662 Click HERE to return to <\/p>\n<p>TABLE OF CONTENTS<\/p>\n<p>CONNECTING THE REAL ESTATE INDUSTRY<\/p>\n<p>INDEPENDENT <\/p>\n<p>REAL ESTATE <\/p>\n<p>INTELLIGENCE<\/p>\n<p>> Research, Valuation &#038; Advisory<\/p>\n<p>> Property Tax<\/p>\n<p>> Cost Consulting &#038; Project Management <\/p>\n<p>> ARGUS Software<\/p>\n<p>> Geomatics<\/p>\n<p>Our five core practices \u2013<br \/>\nembody and reflect decades<br \/>\nof experience, a broad range<br \/>\nof expertise, and leading edge<br \/>\ntechnology.<\/p>\n<p>Empowering clients to analyze, gain insight and  <\/p>\n<p>recognize value on their real estate investments.<\/p>\n<p>Altus Group is the leading provider of independent  <\/p>\n<p>advisory services, software, and data solutions to the  <\/p>\n<p>global commercial real estate industry.<\/p>\n<p>416 641 9900      altusgroup.com      info@altusgroup.com<\/p>\n<p>mailto:info@altusgroup.com<br \/>\nhttp:\/\/www.altusgroup.com<\/p>\n<p>CBRE Valuation and Advisory Services<\/p>\n<p>Providing the Canadian real estate industry with independent valuation services that are informed<br \/>\nby best in class research and industry expertise, while maintaining the highest level of service.<\/p>\n<p>Paul Morassutti, AACI, MRICS<br \/>\nExecutive Vice President<br \/>\npaul.morassutti@cbre.com<br \/>\n+1 416 495 6235<\/p>\n<p>www.cbre.ca\/vas<\/p>\n<p>TRANSFORMING REAL ESTATE<br \/>\nINTO REAL ADVANTAGE.<\/p>\n<p>mailto:paul.morassutti@cbre.com<br \/>\nhttp:\/\/www.cbre.ca\/vas<\/p>\n","protected":false},"featured_media":67049,"menu_order":0,"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":""},"class_list":["post-29989","issue","type-issue","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/issue\/29989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/types\/issue"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/media\/67049"}],"wp:attachment":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/media?parent=29989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}