{"id":30000,"date":"2014-03-26T02:57:06","date_gmt":"2014-03-26T06:57:06","guid":{"rendered":"https:\/\/www.aicanada.ca\/fr\/cpv-issue\/2009-volume-53-book-3\/"},"modified":"2014-03-26T02:58:06","modified_gmt":"2014-03-25T22:58:06","slug":"2009-volume-53-tome-3","status":"publish","type":"issue","link":"https:\/\/www.aicanada.ca\/fr\/cpv-issue\/2009-volume-53-tome-3\/","title":{"rendered":"2009 &#8211; Volume 53 &#8211; Tome 3"},"content":{"rendered":"<p>Canadian Property<\/p>\n<p>VALUATION \u00c9VALUATION<br \/>\n Immobili\u00e8re au Canada<\/p>\n<p>VOLUME  53  |  BOOK 3  |  2009THE OFFICIAL PUBLICATION OF THE APPRAISAL INSTITUTE OF CANADA<\/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>tta<br \/>\nwa<\/p>\n<p>, O<br \/>\nN <\/p>\n<p> K<br \/>\n2P<\/p>\n<p> 2<br \/>\nK9<\/p>\n<p>. E<br \/>\nm<\/p>\n<p>ai<br \/>\nl: <\/p>\n<p>in<br \/>\nfo<\/p>\n<p>@<br \/>\nai<\/p>\n<p>ca<br \/>\nna<\/p>\n<p>da<br \/>\n.c<\/p>\n<p>a<\/p>\n<p>REAL VALUE EXPERTS  |  EXPERTS EN \u00c9VALUATION<\/p>\n<p>New President Sheila Young<br \/>\nAACI (Hon) Members<br \/>\nConnie Fair and Jane Londerville<\/p>\n<p>WOMEN IN<br \/>\ntHE PrOFESSION<\/p>\n<p>Distance no barrier for tania Wardle<\/p>\n<p>WOMEN IN<br \/>\ntHE PrOFESSION<\/p>\n<p>mailto:info@aicanada.ca<br \/>\nmailto:info@aicanada.ca<br \/>\nmailto:info@aicanada.ca<\/p>\n<p>AppraisersChoice.com Call Now 800-234-8727 <\/p>\n<p>Get the Latest Forms,<br \/>\nFeatures, &#038; Functions CRAL2009\u2122<br \/>\nDon\u2019t Miss the Newest Release from The Appraiser\u2019s Choice\u2122<\/p>\n<p>ACI and its products are trademarks or registered trademarks of ACI. | Copyright \u00a9 2009 ACI | Other brand and product names are trademarks or registered trademarks of their respective owners.<\/p>\n<p>CRAL2009\u2122 offers best-of-breed tracking, forms, digital photo imaging, comps database<br \/>\nmanagement, integrated sketching, and mobile software. <\/p>\n<p>A product simple enough for a new user but powerful enough to suit the largest appraisal<br \/>\ncompanies and financial institutions,  CRAL is used by thousands of companies in<br \/>\nCanada who continue to help drive its unrivaled feature set.<\/p>\n<p>CRAL2009\u2122 Highlights<br \/>\nNew Features<\/p>\n<p>Power Toolbar \u203a<br \/>\nHelp Contents \u203a<br \/>\nComp Side-by-Side View \u203a<br \/>\nVertical Split View \u203a<br \/>\nFull Addendum Editing \u203a<br \/>\nACISketch\u2122 \u203a<br \/>\nMapPoint Updates \u203a<br \/>\nPDF Printing \u203a<br \/>\nSystem Utility Updates \u203a<br \/>\nUpdated Website \u203a<\/p>\n<p>New Forms<br \/>\nERC 2003 Form \u203a<br \/>\nUSPAP 2006  \u203a<br \/>\nCompliance Addendum<br \/>\nUpdated AIC Full  \u203a<br \/>\nAppraisal<br \/>\nUpdated CERC 2002 Form \u203a<\/p>\n<p>Learn More about CRAL2009\u2122<br \/>\nVisit AppraisersChoice.com and learn more<br \/>\nabout the new features in CRAL2009\u2122<\/p>\n<p>Online Training Sessions \u203a<\/p>\n<p>inMOTION Videos \u203a<\/p>\n<p>Tech Doc Library \u203a<\/p>\n<p>ACI Forum \u203a<\/p>\n<p>Compliance Corner Blog   \u203a<br \/>\nfeaturing Rich Heyn, SRA,<br \/>\nDirector of Compliance<\/p>\n<p>The Premier Appraisal Software<br \/>\nfrom the 30-Year Industry Leader<\/p>\n<p>DESK-to-DOOR\u2122 Service<br \/>\nIncluded with ALL Purchases<br \/>\nAn ACI Desk-to-Door\u2122 Implementation Specialist is<br \/>\nat your service and available to walk you through<br \/>\nthe set-up process to ensure your system is ready<br \/>\nwhen you are.<\/p>\n<p>A process so smooth and effortless will leave you<br \/>\nwondering why you didn\u2019t switch to ACI sooner.<\/p>\n<p>COACH<\/p>\n<p>CONFIGURE<br \/>\nCONSULT Directly from Our Desk to Yours  \u203a<\/p>\n<p>System Configuration \u203a<br \/>\nWe Train Your Staff \u203a<\/p>\n<p>Package Includes <\/p>\n<p>One CRAL Install including:   \u203a<br \/>\nAppraisal Forms Library, Order Tracking,<br \/>\nPhoto Management, and Comps Database<\/p>\n<p>ACI Sketch\u2122 \u203a<\/p>\n<p>Digital Signature (One) \u203a<\/p>\n<p>MapPoint (One Year) \u203a<\/p>\n<p>Free PDF Creator \u203a<\/p>\n<p>Premier Plus Service (One Year)   \u203a<br \/>\nIncludes Support &#038; Updates<\/p>\n<p>Desk-to-Door\u2122 Service \u203a<\/p>\n<p>Visit AppraisersChoice.com or call<br \/>\n800-234-8727 to request your free demo.<\/p>\n<p>*  Payable in US Dollars<\/p>\n<p>Limited Time Offer<\/p>\n<p>CRAL2009\u2122 $495*<\/p>\n<p>Form300  10\/08<\/p>\n<p>C<br \/>\nR<\/p>\n<p>A<br \/>\nL<\/p>\n<p> C<br \/>\nollection for W<\/p>\n<p>indow<br \/>\ns<\/p>\n<p>80<br \/>\n0<\/p>\n<p>-234-8727<\/p>\n<p>24 Old Kings Road North<br \/>\nPalm Coast, Florida 32137t 800-234-8727 f 386-246-3811AppraisersChoice.com<\/p>\n<p>THE APPRAISER\u2019S CHOICE\u2122<\/p>\n<p>THE APPRAISER\u2019S CHOICE\u2122<\/p>\n<p>CRAL2009\u2122 Collection for Windows<\/p>\n<p>A<br \/>\np<\/p>\n<p>p<br \/>\nraisersC<\/p>\n<p>ho<br \/>\nice.co<\/p>\n<p>m<\/p>\n<p>ACI Sketch\u2122<br \/>\nPowerful Floorplan Technology<br \/>\nSimple to use with a minimal<br \/>\nlearning curve and<br \/>\nintuitive features like:<\/p>\n<p>Online Help \u203a<br \/>\nTape Measure Tool \u203a<br \/>\nFeet &#038; Inches \u203a<br \/>\nLabels \u203a<br \/>\nSymbols \u203a<br \/>\nArcs \u203a<br \/>\nCopy &#038; Paste \u203a<\/p>\n<p>\u201cACI Sketch\u2122 is one of the best new<br \/>\nproducts to increase efficiency for <\/p>\n<p>appraisers. We use it in the office and on<br \/>\nour tablet PCs in the field, both with great <\/p>\n<p>success. We are particularly impressed<br \/>\nwith the free-form approach that ACI<br \/>\nSketch\u2122 brings to creating floorplans.\u201d<br \/>\nJay Delich, President of Arizona Appraisal, LLC<\/p>\n<p>$99*<br \/>\nIncludes CRAL Integration<\/p>\n<p>http:\/\/www.appraiserchoice.com<\/p>\n<p>AppraisersChoice.com Call Now 800-234-8727 <\/p>\n<p>Get the Latest Forms,<br \/>\nFeatures, &#038; Functions CRAL2009\u2122<br \/>\nDon\u2019t Miss the Newest Release from The Appraiser\u2019s Choice\u2122<\/p>\n<p>ACI and its products are trademarks or registered trademarks of ACI. | Copyright \u00a9 2009 ACI | Other brand and product names are trademarks or registered trademarks of their respective owners.<\/p>\n<p>CRAL2009\u2122 offers best-of-breed tracking, forms, digital photo imaging, comps database<br \/>\nmanagement, integrated sketching, and mobile software. <\/p>\n<p>A product simple enough for a new user but powerful enough to suit the largest appraisal<br \/>\ncompanies and financial institutions,  CRAL is used by thousands of companies in<br \/>\nCanada who continue to help drive its unrivaled feature set.<\/p>\n<p>CRAL2009\u2122 Highlights<br \/>\nNew Features<\/p>\n<p>Power Toolbar \u203a<br \/>\nHelp Contents \u203a<br \/>\nComp Side-by-Side View \u203a<br \/>\nVertical Split View \u203a<br \/>\nFull Addendum Editing \u203a<br \/>\nACISketch\u2122 \u203a<br \/>\nMapPoint Updates \u203a<br \/>\nPDF Printing \u203a<br \/>\nSystem Utility Updates \u203a<br \/>\nUpdated Website \u203a<\/p>\n<p>New Forms<br \/>\nERC 2003 Form \u203a<br \/>\nUSPAP 2006  \u203a<br \/>\nCompliance Addendum<br \/>\nUpdated AIC Full  \u203a<br \/>\nAppraisal<br \/>\nUpdated CERC 2002 Form \u203a<\/p>\n<p>Learn More about CRAL2009\u2122<br \/>\nVisit AppraisersChoice.com and learn more<br \/>\nabout the new features in CRAL2009\u2122<\/p>\n<p>Online Training Sessions \u203a<\/p>\n<p>inMOTION Videos \u203a<\/p>\n<p>Tech Doc Library \u203a<\/p>\n<p>ACI Forum \u203a<\/p>\n<p>Compliance Corner Blog   \u203a<br \/>\nfeaturing Rich Heyn, SRA,<br \/>\nDirector of Compliance<\/p>\n<p>The Premier Appraisal Software<br \/>\nfrom the 30-Year Industry Leader<\/p>\n<p>DESK-to-DOOR\u2122 Service<br \/>\nIncluded with ALL Purchases<br \/>\nAn ACI Desk-to-Door\u2122 Implementation Specialist is<br \/>\nat your service and available to walk you through<br \/>\nthe set-up process to ensure your system is ready<br \/>\nwhen you are.<\/p>\n<p>A process so smooth and effortless will leave you<br \/>\nwondering why you didn\u2019t switch to ACI sooner.<\/p>\n<p>COACH<\/p>\n<p>CONFIGURE<br \/>\nCONSULT Directly from Our Desk to Yours  \u203a<\/p>\n<p>System Configuration \u203a<br \/>\nWe Train Your Staff \u203a<\/p>\n<p>Package Includes <\/p>\n<p>One CRAL Install including:   \u203a<br \/>\nAppraisal Forms Library, Order Tracking,<br \/>\nPhoto Management, and Comps Database<\/p>\n<p>ACI Sketch\u2122 \u203a<\/p>\n<p>Digital Signature (One) \u203a<\/p>\n<p>MapPoint (One Year) \u203a<\/p>\n<p>Free PDF Creator \u203a<\/p>\n<p>Premier Plus Service (One Year)   \u203a<br \/>\nIncludes Support &#038; Updates<\/p>\n<p>Desk-to-Door\u2122 Service \u203a<\/p>\n<p>Visit AppraisersChoice.com or call<br \/>\n800-234-8727 to request your free demo.<\/p>\n<p>*  Payable in US Dollars<\/p>\n<p>Limited Time Offer<\/p>\n<p>CRAL2009\u2122 $495*<\/p>\n<p>Form300  10\/08<\/p>\n<p>C<br \/>\nR<\/p>\n<p>A<br \/>\nL<\/p>\n<p> C<br \/>\nollection for W<\/p>\n<p>indow<br \/>\ns<\/p>\n<p>80<br \/>\n0<\/p>\n<p>-234-8727<\/p>\n<p>24 Old Kings Road North<br \/>\nPalm Coast, Florida 32137t 800-234-8727 f 386-246-3811AppraisersChoice.com<\/p>\n<p>THE APPRAISER\u2019S CHOICE\u2122<\/p>\n<p>THE APPRAISER\u2019S CHOICE\u2122<\/p>\n<p>CRAL2009\u2122 Collection for Windows<\/p>\n<p>A<br \/>\np<\/p>\n<p>p<br \/>\nraisersC<\/p>\n<p>ho<br \/>\nice.co<\/p>\n<p>m<\/p>\n<p>ACI Sketch\u2122<br \/>\nPowerful Floorplan Technology<br \/>\nSimple to use with a minimal<br \/>\nlearning curve and<br \/>\nintuitive features like:<\/p>\n<p>Online Help \u203a<br \/>\nTape Measure Tool \u203a<br \/>\nFeet &#038; Inches \u203a<br \/>\nLabels \u203a<br \/>\nSymbols \u203a<br \/>\nArcs \u203a<br \/>\nCopy &#038; Paste \u203a<\/p>\n<p>\u201cACI Sketch\u2122 is one of the best new<br \/>\nproducts to increase efficiency for <\/p>\n<p>appraisers. We use it in the office and on<br \/>\nour tablet PCs in the field, both with great <\/p>\n<p>success. We are particularly impressed<br \/>\nwith the free-form approach that ACI<br \/>\nSketch\u2122 brings to creating floorplans.\u201d<br \/>\nJay Delich, President of Arizona Appraisal, LLC<\/p>\n<p>$99*<br \/>\nIncludes CRAL Integration<\/p>\n<p>http:\/\/www.appraiserchoice.com<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada4<\/p>\n<p>6 It\u2019s all about earning respect<\/p>\n<p>10 Une question de respect<\/p>\n<p>14 CPD: more than just credits<\/p>\n<p>16 Le PPC \u2013 Beaucoup<br \/>\nplus que des cr\u00e9dits<\/p>\n<p>20 AACI (Hon) Members<br \/>\n recognized for outstanding <\/p>\n<p>contributions to profession<\/p>\n<p>22 AMC<br \/>\n Task Force  <\/p>\n<p>survey results<\/p>\n<p>24 Primer on International<br \/>\nValuation Standards \u2013 Part 4<\/p>\n<p>26 The value of a complaint<\/p>\n<p>27 Professional practice<br \/>\nprocess aims to educate<\/p>\n<p>28 Excuses, excuses<\/p>\n<p>29 The Advocate\u2019s role<\/p>\n<p>30 Inside the mind<br \/>\nof a peer reviewer<\/p>\n<p>31 Expanding your<br \/>\nCRA \u2018book of business\u2019<\/p>\n<p>32 Why I matter<\/p>\n<p>33 Your clients are<br \/>\nonline \u2013 are you?<\/p>\n<p>4<\/p>\n<p>403-200 Catherine Street,<br \/>\nOttawa, ON  K2P 2K9 <\/p>\n<p>Phone: (613) 234-6533 Fax: (613) 234-7197<br \/>\nWeb site: www.aicanada.ca<\/p>\n<p>Contact us at: info@aicanada.ca <\/p>\n<p>Board of Directors<br \/>\nConseil d\u2019administration<\/p>\n<p>President \u2013 Pr\u00e9sident<br \/>\nSheila Young, AACI, P.App (AB) <\/p>\n<p>President Elect \u2013 Pr\u00e9sident d\u00e9sign\u00e9<br \/>\nGrant Uba, AACI, P.App (ON)<\/p>\n<p>Immediate Past-president \u2013<br \/>\nPr\u00e9sident sortant<\/p>\n<p>George Maurice, AACI, P. App., Fellow (ON)<\/p>\n<p>Vice-Presidents \u2013 Vice-pr\u00e9sidents<br \/>\nKimberly Maber, AACI, P.App (SK)<\/p>\n<p> John Yannacopoulos, AACI, P.App (BC)<\/p>\n<p>Directors \u2013 Directeurs<br \/>\nGreg Bennett, AACI, P.App (NL)<br \/>\nGeorge Ward, AACI, P.App (BC)<\/p>\n<p>Michael Mendela, AACI P.App (ON)<br \/>\n Alfred Mullally, AACI, P.App (NS)<\/p>\n<p>Andre St-Arnaud, CRA (QC)<br \/>\n David Shum, AACI, P.App (AB)<\/p>\n<p>David Babineau, AACI, P. App., Fellow (NB)<br \/>\n Lorne Mikulik, AACI, P.App (MB)<br \/>\nScott McEwen, AACI, P.App (PE)<\/p>\n<p>Chief Executive Officer<br \/>\nGeorges Lozano, MPA, Ottawa<\/p>\n<p>Director of Marketing &#038; Communications<br \/>\nJoanne Charlebois, Ottawa<\/p>\n<p>Managing Editor \u2013<br \/>\nR\u00e9dacteur administratif<\/p>\n<p>Craig Kelman, Winnipeg<\/p>\n<p>Assistant Editor \u2013<br \/>\nR\u00e9dacteur en chef adjoint<\/p>\n<p>Cheryl Parisien, Winnipeg<\/p>\n<p>Editorial Board<br \/>\nAIC would like to thank the following  <\/p>\n<p>individuals for their assistance and support:<br \/>\nGrant Uba, AACI, P. App. \u2013 Chair<\/p>\n<p>John Peebles, AACI, P. App<br \/>\nAndr\u00e9 Beaudoin, CRA<\/p>\n<p>David Lopatka, AACI, P. App<br \/>\nJoanne Hayes,  AACI, P. App<\/p>\n<p>Rob Grycko, CRA<br \/>\nJane Londerville, B.Sc., M.B.A.,AACI (Hon)<br \/>\nAssociate Professor, University of Guelph<\/p>\n<p>Publication management, design and production by:<\/p>\n<p>The articles printed in this issue represent authors\u2019 opinions only and are not neces-<br \/>\nsarily endorsed by the APPRAISAL INSTITUTE OF CANADA. Copyright 2009 by the<br \/>\nAPPRAISAL INSTITUTE OF CANADA. All rights reserved. Reproduction in whole or<br \/>\nin part without written permission is strictly prohibited. Subscription, $40.00 per<br \/>\nyear. Printed in Canada. Les articles imprim\u00e9s dans ce num\u00e9ro ne rep\u00e9sentent que<br \/>\nl\u2019opinion de leur auteur respectif, mais ne sont pas n\u00e9ces\u2013sairement endoss\u00e9s par<br \/>\nL\u2019INSTITUT CANADIEN DES \u00c9vALUATEURS. Tous droits reserv\u00e9s 2008 par L\u2019INSTITUT<br \/>\nCANADIEN DES \u00c9vALUATEURS. La reproduction totale ou partielle sous quelque form<br \/>\nque se soit sans authorisation \u00e9crite est absolument interdite. Abonnement $40.00<br \/>\npar ann\u00e9e. Imprim\u00e9 au Canada.<\/p>\n<p>Indexed in the Canadian Business Index and available on-line in the Canadian<br \/>\nBusiness &#038; Current Affairs database.<\/p>\n<p>ISSN 0827-2697<\/p>\n<p>3rd Floor \u2013 2020 Portage Avenue<br \/>\nWinnipeg, MB R3J 0K4<\/p>\n<p>Phone: 866-985-9780 \u2022 Fax: 866-985-9799<br \/>\nE-mail: info@kelman.ca \u2022 Web: www.kelman.ca<\/p>\n<p>Design\/Layout: Tracy Toutant<br \/>\nAdvertising Manager: Kris Fillion<\/p>\n<p>Advertising Co-ordinator: Lauren Campbell<\/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>Published by the<br \/>\nVolume 53, book 3, 2009<\/p>\n<p>Contents<\/p>\n<p>Do your part for the environment \u2013 reuse and recycle.<\/p>\n<p>34 Keeping track of timing<\/p>\n<p>35 World Association<br \/>\nof Valuation Organizations<\/p>\n<p>36 For Tania<br \/>\nWardle,<br \/>\ndistance is<br \/>\nno barrier<\/p>\n<p>38 Valuing an<br \/>\nunregistered sewer easement<\/p>\n<p>42 Demystifying<br \/>\nthe digital<br \/>\nsignature<\/p>\n<p>45 Spotlight on Continuing<br \/>\nProfessional Development<\/p>\n<p>47 The behavioural<br \/>\ndescriptive interview \u2013<br \/>\nthe final step to designation<\/p>\n<p>48 Designations\/<br \/>\nCandidates\/Students<\/p>\n<p>50   Recognizing<br \/>\nExcellence<\/p>\n<p>52   News<\/p>\n<p>54 Calendar of Events<\/p>\n<p>54 Advertiser Information Centre<\/p>\n<p>FEED YOUR FUTURE<br \/>\nwith CPD FRIDAYS<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"vKJ80UZHuy\"><p><a href=\"https:\/\/www.aicanada.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Appraisal Institute of Canada\" src=\"https:\/\/www.aicanada.ca\/embed\/#?secret=QMIFP9dkgq#?secret=vKJ80UZHuy\" data-secret=\"vKJ80UZHuy\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nmailto:info@aicanada.ca<br \/>\nmailto:info@aicanada.ca<br \/>\nmailto:info@kelman.ca<br \/>\nhttp:\/\/www.kelman.ca<\/p>\n<p>A BOUND CORPORATION<br \/>\nCommercial and Residential Appraisals, Real Estate Sales,<br \/>\nLand Surveying, Geographic Information Systems<br \/>\n1-888-6 A BOUND (1-888-622-6863)<br \/>\nwww.abound.ca<\/p>\n<p>NEW<\/p>\n<p>VAL<br \/>\nUAT<\/p>\n<p>ION<\/p>\n<p>TOO<br \/>\nL!<\/p>\n<p>Airdrie, AB<br \/>\nCalgary, AB<br \/>\nEdmonton, AB<br \/>\nLethbridge, AB<br \/>\nMedicine Hat, AB<br \/>\nOkotoks, AB<br \/>\nRed Deer, ABRed Deer, AB<br \/>\nSherwood Park, AB<br \/>\nSt. Albert, AB<br \/>\nAbbottsford, AB<br \/>\nBurnaby, BC<br \/>\nChilliwack, BC<br \/>\nCoquitlam, BC<br \/>\nDelta, BCDelta, BC<br \/>\nLangley, BC<br \/>\nMaple Ridge, BC<br \/>\nMission, BC<br \/>\nNew Westminster, BC<br \/>\nPitt Meadows, BC<br \/>\nRichmond, BC<br \/>\nVancouver, BCVancouver, BC<br \/>\nVictoria, BC<br \/>\nWhite Rock, BC<br \/>\nFredericton, NB<br \/>\nMoncton, NB<br \/>\nSaint John, NB<br \/>\nSt. John\u2019s, NL<br \/>\nHalifax, NSHalifax, NS<br \/>\nAjax, ON<br \/>\nMarkham, ON<br \/>\nMississauga, ON<br \/>\nOshawa, ON<br \/>\nOttawa, ON<br \/>\nCharlottetown, PEI<br \/>\nLaval, PQLaval, PQ<br \/>\nLongueuil, PQ<br \/>\nMontreal, PQ<br \/>\nQuebec City, PQ<br \/>\nEstevan, SK<br \/>\nMoosejaw, SK<br \/>\nRegina, SK<br \/>\nSaskatoon, SKSaskatoon, SK<br \/>\nSwift Current, SK<br \/>\nWeyburn, SK<br \/>\nYorkton, SK<\/p>\n<p>View the world from an<br \/>\n    entirely new perspective<\/p>\n<p>AerialGIS.com<\/p>\n<p>http:\/\/www.abound.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada6<\/p>\n<p>Before we get into matters<br \/>\nrelated to the Appraisal<br \/>\nInstitute of Canada (AIC)  <\/p>\n<p>and your presidency, can you tell<br \/>\nus about your role with Alberta<br \/>\nMunicipal Affairs (AMA)?<br \/>\nI am currently the AMA\u2019s Director, Regulated<br \/>\nAssessment Policy. In this capacity, I work with<br \/>\na team of consulting engineers to establish a<br \/>\ncost manual that Alberta assessors can use as<br \/>\na guideline for valuing farmland, oil and gas<br \/>\nwells, telecommunications, machinery and<br \/>\nequipment, pipelines, and electric<br \/>\npower facilities.<\/p>\n<p>What career path did<br \/>\nyou follow to this position?<br \/>\nAfter completing two years of university in<br \/>\nmy hometown of Winnipeg, I headed west to<br \/>\nCalgary and began working for a mortgage<br \/>\ncompany in 1981. What appealed to me about<br \/>\nappraising was the idea of working outside<br \/>\nthe office, dealing with people, and having to<br \/>\nanalyze, understand and apply data. During<br \/>\nmy time there, I gained valuable experience in<br \/>\nappraisal work, and earned my CRA designation<br \/>\nin 1986. In 1992, I earned my AACI and went<br \/>\ninto the assessment field with the City of <\/p>\n<p>Calgary. I subsequently joined the province<br \/>\nand became an auditor with Alberta Municipal<br \/>\nAffairs. From there, I moved into management<br \/>\nand then into my current position as director.<br \/>\nAs my career developed, I was fortunate in<br \/>\nnever having the same job two years in a<br \/>\nrow and in being involved in progressively<br \/>\nmore complex projects and management<br \/>\nresponsibilities. <\/p>\n<p>How did this prepare you for<br \/>\nyour current responsibilities?<br \/>\nEvery experience along the way enabled me<br \/>\nto evolve and grow as an appraiser and as a<br \/>\nmanager. However, what probably helped me<br \/>\nthe most was learning the important lesson<br \/>\nthat opinions have to be grounded in facts.<br \/>\nWhether it is expressing an opinion of value<br \/>\nin a complex real estate project, or expressing<br \/>\nan opinion in an important management<br \/>\nmeeting, what you say absolutely needs to be<br \/>\nsupported by facts. Another important lesson<br \/>\nlearned was how to deal with people. Whether<br \/>\nit was talking with homeowners early in my<br \/>\ncareer or dealing with senior management<br \/>\nand officials in my current position, you must<br \/>\nlisten to what others have to say, show them<br \/>\nrespect, and treat them fairly and honestly.<\/p>\n<p>Sheila Young<br \/>\nAACI, P. App., AIC President<\/p>\n<p>It\u2019s all about<br \/>\nearning respect<\/p>\n<p>6<\/p>\n<p>President\u2019s message<\/p>\n<p>throughout your career, you have been<br \/>\nknown as an individual willing to get<br \/>\ninvolved in various volunteer activities.<br \/>\nWhat volunteering have you done?<br \/>\nIt started very innocently and then just grew<br \/>\nfrom there. Back in 1992, I volunteered to be<br \/>\nthe newsletter editor for the Calgary Chapter. At<br \/>\nthat time, our education program was delivered<br \/>\nlocally, so I also taught a number of entry level<br \/>\ncourses. That led to becoming the Calgary<br \/>\nChapter Chair, followed by involvement with<br \/>\nthe Alberta provincial association, and then to<br \/>\nthe national level, where I became the director<br \/>\nfor Alberta, served on committees such as the<br \/>\nProfessional Affairs Coordinating Committee<br \/>\n(PACC), and will now spend the next year as<br \/>\nAIC president.<\/p>\n<p>How would you describe<br \/>\nyour volunteer experience?<br \/>\nThe rewards have been much greater than the<br \/>\nchallenges, and the experience has helped<br \/>\nme both at work and in my personal life. I<br \/>\nhave met, worked with and been able to learn<br \/>\nfrom a much broader group of people than<br \/>\nwould otherwise have been possible. I have<br \/>\nbeen exposed to situations such as chairing<br \/>\nmeetings and serving on committees that <\/p>\n<p>\u201cThe challenges facing us are to be more willing to move out of our comfort zones,<br \/>\nto not fear or be resistant to change, and to make sure that we are as prepared as we <\/p>\n<p>can be for the opportunities that exist in today\u2019s marketplace. \u201d<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 7<\/p>\n<p>taught important life skills such as analyzing<br \/>\nproblems and challenges, communicating,<br \/>\nand seeking consensus, to name a few.<br \/>\nvolunteering is something that I strongly<br \/>\nrecommend.<\/p>\n<p>I would also like to point out that there are<br \/>\nnumerous opportunities to volunteer which<br \/>\nare compatible with the amount of time<br \/>\nmembers have to contribute. I always found<br \/>\nthe time requirements to be very manageable<br \/>\nand easily handled in conjunction with my<br \/>\nfamily and personal life. When I was newslet-<br \/>\nter editor, for example, the time required was<br \/>\nno more than an hour or so each week.<\/p>\n<p>You have not mentioned time spent<br \/>\nmentoring. Has that been part of the mix?<br \/>\nAbsolutely. I was fortunate to have two<br \/>\nexcellent mentors early in my career. At a time<br \/>\nwhen mentoring was not as formalized as it is<br \/>\nnow, Al van Ireland and Bert Jensen both took<br \/>\nan interest in me and helped me learn to think<br \/>\nthrough problems and gather the facts to sup-<br \/>\nport my position. It is easy to get a little lost in<br \/>\na new career and having a good mentor helps<br \/>\none stay on track. I currently have one prot\u00e9g\u00e9<br \/>\nand am helping three others in our workplace.<\/p>\n<p>Having chaired PACC over the past year,<br \/>\nand now as AIC president, what do you<br \/>\nsee as the current issues facing the<br \/>\nprofession and the Institute?<br \/>\nFor one thing, the current economic conditions<br \/>\nas well as the growing reliance on automated<br \/>\nvaluation models (AvMs) are resulting<br \/>\nin a decrease in some of the traditional,<br \/>\nstraightforward work, particularly on the<br \/>\nresidential side. That being said, there are<br \/>\ngrowing opportunities in areas including<br \/>\nresidential that require more complex<br \/>\nvaluations that can actually result in increased<br \/>\nearnings. The challenges facing us are to be <\/p>\n<p>more willing to move out of our comfort zones,<br \/>\nto not fear or be resistant to change, and to<br \/>\nmake sure that we are as prepared as we can<br \/>\nbe for the opportunities that exist in today\u2019s<br \/>\nmarketplace. Many appraisers do not appreciate<br \/>\nthe fact that they have a solid foundation of<br \/>\nskills to move comfortably into new areas, to<br \/>\npresent themselves favourably to different<br \/>\ngroups of clients, and to evolve with the<br \/>\nmarketplace. As individual appraisers and as an<br \/>\nInstitute, it is up to us to meet these challenges<br \/>\nas best we can.<\/p>\n<p>What about the changes facing<br \/>\nthe profession and the membership<br \/>\nfrom developments such as<br \/>\nInternational Valuation Standards (IVS)<br \/>\nand International Financial reporting<br \/>\nStandards (IFrS), as well as the policies<br \/>\nbeing implemented by the Institute<br \/>\nto meet these demands?<br \/>\nThe absolute best choice for members is to<br \/>\nembrace the changes they are facing from both<br \/>\ninternal and external sources and to upgrade<br \/>\ntheir skills so that they can successfully deal<br \/>\nwith them. For example, requiring candidates<br \/>\nto have a university degree, implementing<br \/>\na candidates co-signing policy, taking a<br \/>\nleadership role in the development and<br \/>\nimplementation of IVS and IFRS, presenting <\/p>\n<p>educational sessions at our conference and<br \/>\nwebinars through UBC to promote compliance<br \/>\nwith these new standards, and generally<br \/>\nstriving in every way possible to enhance the<br \/>\nquality of our work are just some of the ways<br \/>\nthat the Institute is helping to ensure that we<br \/>\nare keeping pace with change.<\/p>\n<p>How should our<br \/>\nmembership view these changes?<br \/>\nI believe that Candidates are actually in the<br \/>\nperfect position to deal with what lies ahead.<br \/>\nThey can ask themselves where they would<br \/>\nlike to start, where they would like to go next,<br \/>\nand where they would like to be in five years.<br \/>\nThey can also determine the path they would<br \/>\nlike to take in terms of areas of specialization,<br \/>\nworking for government, or owning their own<br \/>\nbusiness. CRAs have similar choices. They can<br \/>\nask themselves where they can look for new<br \/>\nclients, how they can change their business,<br \/>\nand where they want to be from a career and<br \/>\nearnings perspective in the years ahead. They<br \/>\nneed to realize that they have put in a great<br \/>\ndeal of study time, have gained a tremendous<br \/>\namount of related experience, and have a very<br \/>\nsolid foundation of skills to offer and on which<br \/>\nto build.<\/p>\n<p>One of the Institute\u2019s major new<br \/>\ninitiatives revolves around marketing<br \/>\nand repositioning the organization. Why<br \/>\nis marketing so important at this time?<br \/>\nMarketing is important in both good times and<br \/>\nbad, however, as economic conditions decline,<br \/>\nit is even more critical, not only for survival, but<br \/>\nfor growth as well. To ensure that the appraisal<br \/>\nprofession, our Institute and its members can<br \/>\nsucceed and grow in a constantly changing<br \/>\nworld, we are undertaking many proactive<br \/>\nmarketing initiatives that are already paying off<br \/>\nin many ways.<\/p>\n<p>\u201cWe are now the<br \/>\n\u2018go to\u2019 organization<br \/>\nwhen the media is <\/p>\n<p>seeking information<br \/>\nrelated to property <\/p>\n<p>valuation.\u201d<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada88<\/p>\n<p>President\u2019s message<\/p>\n<p>Can you give us some examples?<br \/>\nIn various newspapers and trade magazines,<br \/>\nwe are placing advertisements that prominently<br \/>\nfeature our professional and corporate identity<br \/>\nas well as relevant messages aimed at our client<br \/>\nbase and the public. These are substantially<br \/>\nincreasing our visibility to the point where we are<br \/>\nnow the \u2018go to\u2019 organization when the media is<br \/>\nseeking information related to property valua-<br \/>\ntion or real estate matters in general. Previously,<br \/>\nwe were not even on the radar screen. If you<br \/>\ncan measure success by the number of media<br \/>\ncontacting us, then the results are outstanding.<\/p>\n<p>To ensure that we are properly prepared for<br \/>\ndealing with these media requests, we are also<br \/>\nramping up media training for our Board mem-<br \/>\nbers and, during our recent conference, offered<br \/>\nsimilar training to the provincial Board members <\/p>\n<p>and staff. This is significantly enhancing the<br \/>\nconfidence level of those who speak to the media<br \/>\non behalf of the Institute or the profession.<\/p>\n<p>Possibly our number one medium achiev-<br \/>\ning great marketing results is our website. We<br \/>\nlaunched our new website in November 2008.<br \/>\nWe have considerable new content which<br \/>\nincludes interactive components such as career<br \/>\nvideos, volunteer corner and a client resources<br \/>\ncentre, to name a few. Not only is this giving us<br \/>\nnational exposure, but international as well, with<br \/>\ninquiries coming from as far away as the UK. The<br \/>\ncareer videos, featuring appraisers such as myself<br \/>\ndiscussing the opportunities and rewards of our<br \/>\ncareers in this profession, have received a very<br \/>\npositive response and are allowing us to respond<br \/>\nto inquiries on an entirely new level. Now, when<br \/>\nindividuals looking for careers explore our web site <\/p>\n<p>and browse the career videos, in particular, they are<br \/>\nable to see first hand the type of work AIC members<br \/>\nare doing as well as the satisfaction and success they<br \/>\nare experiencing. Then, when their interest is piqued<br \/>\nand they contact the Institute for more information,<br \/>\nthey already have many of their questions answered.<br \/>\nAs for results, I know that there are currently about<br \/>\n500 people registered in real property appraisal<br \/>\ncourses and that we are attracting a very different<br \/>\ntype of prospect. With economic times being what<br \/>\nthey are; we believe that these numbers are quite<br \/>\npositive, however, we are doing a thorough analysis<br \/>\nof how these recruiting tools are working. <\/p>\n<p>From an individual standpoint, I know that our<br \/>\nmembers are extremely proud to belong to the AIC<br \/>\nand are conveying our message to industry and the<br \/>\npublic in a variety of effective ways. For example,<br \/>\nhere in Alberta, members of our Lethbridge Chapter<br \/>\nrecently banded together to place ads in a local<br \/>\nreal estate newspaper promoting the important<br \/>\nrole that appraisers play in the real estate process.<br \/>\nIn another case, one of our appraisal firms had a<br \/>\nbooth at a convention for rural municipalities in<br \/>\nAlberta at which they promoted the important<br \/>\nservices they could offer to that particular group of<br \/>\nprospective clients. To assist our members in this<br \/>\narea and to help ensure that a consistent message<br \/>\nis being conveyed, the Institute has developed a<br \/>\nset of promotional display panels which have been<br \/>\nmade available to our provincial associations for<br \/>\nlending to members. <\/p>\n<p>I cannot emphasize enough the significance of<br \/>\nthe role that our individual members play in this<br \/>\nmarketing and communications effort. Having<br \/>\nappraisers spreading the word to prospective clients<br \/>\nin a consistent and positive manner effectively gives<br \/>\nour profession a sales force of thousands.<\/p>\n<p>On the subject of spreading the word,<br \/>\nthe AIC recognized two more individuals<br \/>\nwho have championed the profession<br \/>\nand awarded them AACI (Hon.)<br \/>\ndesignations at this year\u2019s conference.<br \/>\nHow is this program working?<br \/>\nThis is an absolutely outstanding program<br \/>\nthat is gaining in stature. It helps the Institute,<br \/>\nthe Board and our members recognize and <\/p>\n<p>\u201cThe career videos, featuring appraisers such as myself<br \/>\ndiscussing the opportunities and rewards of our careers in <\/p>\n<p>this profession, have received a very positive response and are<br \/>\nallowing us to respond to inquiries on an entirely new level.\u201d<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 9<\/p>\n<p>show appreciation to those individuals<br \/>\nwho are championing our relevance in<br \/>\nthe marketplace. As an indication of how<br \/>\nhonoured people are to be recognized in this<br \/>\nmanner, we even had one previous recipient,<br \/>\nwho could not be in attendance to receive the<br \/>\ndesignation at last year\u2019s conference, make<br \/>\nthe trip to Quebec this year to personally<br \/>\naccept the honour in front of our members.<br \/>\nThe nomination process and selection criteria<br \/>\nare allowing us to realize that there are many<br \/>\npeople outside our profession who believe in<br \/>\nwhat we do and who play significant roles in<br \/>\nour ongoing development. <\/p>\n<p>Advocacy is another method<br \/>\nof conveying our message.<br \/>\nWhat is happening on this front?<br \/>\nOur Institute\u2019s executive and management<br \/>\nare continually advocating the relevance of<br \/>\nour profession and the role of appraisers to<br \/>\nhigh level users of our services, such as CMHC,<br \/>\nPublic Works and the major banks. This type<br \/>\nof effort takes time, but it is very worthwhile<br \/>\nfor us to maintain ongoing and consistent<br \/>\ntwo-way communication that inevitably leads<br \/>\nto some very positive results.  <\/p>\n<p>Are these various initiatives all<br \/>\npart of the Institute\u2019s Strategic Plan?<br \/>\nYes they are, and that is why having a Strategic<br \/>\nPlan is so important. But, it is important to<br \/>\nremember that a Strategic Plan is a roadmap,<br \/>\nnot an itinerary. It helps our Board of Directors<br \/>\nguide the Institute towards our goal and helps<br \/>\nmembers understand where the Institute is<br \/>\ngoing with regard to developments like IVS,<br \/>\nand IFRS. But, the ultimate goal of our Strategic<br \/>\nPlan is to ensure that our members are capable<br \/>\nof providing the highest quality of work pos-<br \/>\nsible to effectively meet the challenges they<br \/>\nface and to take advantage of the opportuni-<br \/>\nties that exist in today\u2019s world. It is not enough<br \/>\nto create awareness of the role that appraisers<br \/>\ncan play in the real estate valuation process.<br \/>\nRespect is earned by consistently performing<br \/>\nat the highest possible level.<\/p>\n<p>As president, what do you envision as your<br \/>\nrole in this process over the year ahead?<br \/>\nWe have a number of new members on our<br \/>\nBoard of Directors, and, when my term is up,<br \/>\nI hope that I will have helped them know the<br \/>\nright questions to ask. I want to talk to and<br \/>\nlisten to as many AIC members as possible, and,<br \/>\nthrough the communication process, help them<br \/>\nto realize how relevant they are in the market-<br \/>\nplace and to understand the choices they have.<\/p>\n<p>One of the focuses for the Board<br \/>\nin the year ahead involves governance.<br \/>\nWhy is this a priority and<br \/>\nwhat will be the benefits?<br \/>\nGovernance is critical to any organization because<br \/>\nit affects the very way an organization is run. We<br \/>\nfeel it is important to have conversations about<br \/>\nthis in which there are no predetermined out-<br \/>\ncomes and no hidden agendas. We merely want<br \/>\nto logically work through things such as our com-<br \/>\nmunication flow, the efficiency of our processes,<br \/>\nand the cost effectiveness of our operation. We<br \/>\nare just beginning to have these discussions and<br \/>\nfeel that it will be an ongoing process where we<br \/>\nare continually striving to make ourselves better.<\/p>\n<p>So much of what the Institute is<br \/>\n able to accomplish is the result of<br \/>\nvolunteers. Why is the volunteer base<br \/>\nso strong and why is it so important?<br \/>\nWe have over 125 volunteers serving on various<br \/>\nstanding, ad hoc and task force committees alone,<br \/>\nso the base certainly is strong. I believe this stems<br \/>\nfrom the pride appraisers have in belonging to<br \/>\nthe AIC and their desire to have an influence on<br \/>\ndecisions that affect their careers in so many<br \/>\ndifferent ways. volunteering is one of the best<br \/>\nmethods of exerting that influence. Each year, we<br \/>\nhave a \u2018call for volunteers\u2019 and, as the types of<br \/>\nvolunteer opportunities change to keep pace with<br \/>\nthe evolution of our profession, it is impressive to<br \/>\nsee so many people willingly stepping forward<br \/>\nto have an impact. Always striving to enhance<br \/>\nour efficiencies relative to the volunteer process,<br \/>\nwe are increasingly using virtual meetings to<br \/>\nsubstantially reduce the time volunteers have to<br \/>\nbe away from their workplace and their families,<br \/>\nand we have developed the \u2018volunteer Corner\u2019 on<br \/>\nour web site that makes it easier for them to get<br \/>\ninvolved in the first place.<\/p>\n<p>volunteers are the lifeblood of the Institute,<br \/>\nand I am extremely proud to be one.   <\/p>\n<p>\u201cIt is not enough to create awareness of the role that<br \/>\nappraisers can play in the real estate valuation process. <\/p>\n<p>Respect is earned by consistently performing at the<br \/>\nhighest possible level.\u201d<\/p>\n<p>A proud sponsor of the 2009<br \/>\nAnnual AIC Conference<\/p>\n<p>www.millerthomson.com<\/p>\n<p>Helping to Create Opportunities.<\/p>\n<p>MT_AIC Sponsorship Ad_v1.indd   1 6\/24\/2009   4:31:26 PMClick HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.millerthomson.com<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada10<\/p>\n<p>Sheila Young<br \/>\nAACI, P. App., Pr\u00e9sident de l\u2019ICE<\/p>\n<p>message du Pr\u00e9sident<\/p>\n<p>Avant que nous abordions<br \/>\nles questions concernant<br \/>\nl\u2019Institut canadien des <\/p>\n<p>\u00e9valuateurs et votre poste \u00e0 la<br \/>\npr\u00e9sidence, pouvez-vous nous expliquer<br \/>\nle r\u00f4le que vous jouez aux Affaires<br \/>\nmunicipales de l\u2019Alberta (AMA)?<br \/>\nJ\u2019occupe toujours le poste de directrice de la<br \/>\npolitique d\u2019\u00e9valuation r\u00e9glement\u00e9e au sein des<br \/>\nAffaires municipales de l\u2019Alberta (AMA). \u00c0 ce<br \/>\ntitre, je travaille, de concert avec une \u00e9quipe<br \/>\nd\u2019ing\u00e9nieurs consultants, \u00e0 l\u2019\u00e9laboration d\u2019un<br \/>\nmanuel des co\u00fbts auquel les \u00e9valuateurs de<br \/>\nl\u2019Alberta peuvent avoir recours en tant que<br \/>\nlignes directrices lors de l\u2019\u00e9valuation des terres<br \/>\nagricoles, des puits de p\u00e9trole et de gaz, des<br \/>\nt\u00e9l\u00e9communications, de la machinerie et de<br \/>\nl\u2019\u00e9quipement, des pipelines et des centrales<br \/>\nd\u2019\u00e9nergie \u00e9lectrique. <\/p>\n<p>Quel a \u00e9t\u00e9 votre parcours de<br \/>\ncarri\u00e8re avant d\u2019occuper ce poste?<br \/>\nApr\u00e8s avoir compl\u00e9t\u00e9 deux ans d\u2019universit\u00e9<br \/>\n\u00e0 Winnipeg, ma ville natale, je me suis<br \/>\nrendue \u00e0 Calgary en 1981, o\u00f9 j\u2019ai d\u00e9but\u00e9<br \/>\nma carri\u00e8re en travaillant pour une soci\u00e9t\u00e9<br \/>\nde pr\u00eats hypoth\u00e9caires. L\u2019id\u00e9e de travailler<br \/>\n\u00e0 l\u2019ext\u00e9rieur du bureau, de traiter avec des<br \/>\npersonnes et d\u2019avoir \u00e0 analyser, \u00e0 comprendre<br \/>\net \u00e0 appliquer des donn\u00e9es, m\u2019a incit\u00e9e \u00e0 faire<br \/>\nmon entr\u00e9e dans le monde de l\u2019\u00e9valuation.<br \/>\nCet emploi m\u2019a permis d\u2019acqu\u00e9rir une bonne<br \/>\nexp\u00e9rience de l\u2019\u00e9valuation et, en 1986,<br \/>\nd\u2019obtenir mon titre CRA. En 1992, j\u2019ai obtenu<br \/>\nle titre AACI et d\u00e9but\u00e9, \u00e0 l\u2019emploi de la ville<br \/>\nde Calgary, dans le domaine de l\u2019\u00e9valuation. <\/p>\n<p>J\u2019ai, par la suite, fait mon entr\u00e9e au niveau<br \/>\nprovincial en obtenant un emploi au sein<br \/>\ndes Affaires municipales de l\u2019Alberta d\u2019abord<br \/>\n\u00e0 titre de v\u00e9rificatrice, puis de gestionnaire<br \/>\net, pour terminer, de directrice, poste que<br \/>\nj\u2019occupe actuellement. Au fil de l\u2019\u00e9volution<br \/>\nde ma carri\u00e8re, j\u2019ai eu la chance de ne<br \/>\njamais occuper le m\u00eame poste deux ann\u00e9es<br \/>\nde suite, ce qui m\u2019a permis de participer<br \/>\nprogressivement \u00e0 des projets de nature plus<br \/>\ncomplexe et d\u2019assumer des responsabilit\u00e9s<br \/>\nde gestion.  <\/p>\n<p>De quelle fa\u00e7on ce parcours vous<br \/>\na-t-il \u00e9t\u00e9 b\u00e9n\u00e9fique pour assumer vos<br \/>\nresponsabilit\u00e9s actuelles?<br \/>\nToute l\u2019exp\u00e9rience obtenue durant ce parcours<br \/>\nm\u2019a permis d\u2019\u00e9voluer et de grandir en tant<br \/>\nqu\u2019\u00e9valuatrice et de gestionnaire. Cependant,<br \/>\nl\u2019apprentissage de le\u00e7ons importantes voulant<br \/>\nque les opinions exprim\u00e9es reposent sur des<br \/>\nfaits, est probablement ce qui a \u00e9t\u00e9 le plus<br \/>\nprofitable. Toutes les affirmations  doivent<br \/>\n\u00eatre corrobor\u00e9es par des faits, qu\u2019il s\u2019agisse<br \/>\nd\u2019un avis concernant la valeur lors d\u2019un<br \/>\nprojet immobilier complexe ou d\u2019une opinion<br \/>\nexprim\u00e9e lors d\u2019une r\u00e9union importante de la<br \/>\ndirection. Une autre le\u00e7on importante consiste<br \/>\nen la fa\u00e7on de traiter avec les gens. Qu\u2019il<br \/>\ns\u2019agisse, comme au d\u00e9but de ma carri\u00e8re, de<br \/>\ndiscuter avec des propri\u00e9taires ou de traiter,<br \/>\ncomme l\u2019exige mon poste actuel, avec des<br \/>\nmembres de la haute direction ou des cadres,<br \/>\nil faut les \u00e9couter, les  respecter, les traiter<br \/>\n\u00e9quitablement et faire preuve d\u2019honn\u00eatet\u00e9 \u00e0<br \/>\nleur \u00e9gard.  <\/p>\n<p>une question de respect<\/p>\n<p>Au cours de votre carri\u00e8re, vous avez \u00e9t\u00e9<br \/>\nper\u00e7ue comme une personne pr\u00eate \u00e0<br \/>\nparticiper \u00e0 diff\u00e9rentes activit\u00e9s b\u00e9n\u00e9voles.<br \/>\nQuelles sont ces activit\u00e9s auxquelles vous<br \/>\navez particip\u00e9?<br \/>\nTout a d\u00e9but\u00e9 tr\u00e8s simplement et s\u2019est accru par la<br \/>\nsuite. En 1992, je me suis port\u00e9e volontaire en tant<br \/>\nqu\u2019\u00e9ditrice du bulletin de nouvelles pour le chap-<br \/>\nitre de Calgary. \u00c0 ce moment, notre programme<br \/>\nd\u2019\u00e9ducation \u00e9tait transmis \u00e0 l\u2019\u00e9chelle locale, alors j\u2019ai<br \/>\n\u00e9galement donn\u00e9 plusieurs cours d\u2019entr\u00e9e, ce qui<br \/>\nm\u2019a permis de devenir pr\u00e9sidente du chapitre de<br \/>\nCalgary et, par la suite, de m\u2019impliquer, \u00e0 l\u2019\u00e9chelle<br \/>\nprovinciale, dans l\u2019association de l\u2019Alberta et, \u00e0<br \/>\nl\u2019\u00e9chelle nationale, d\u2019\u00eatre nomm\u00e9e directrice de cette<br \/>\nassociation, de si\u00e9ger en tant que membre au sein<br \/>\nde diff\u00e9rents comit\u00e9s, tels que le Comit\u00e9 de coordi-<br \/>\nnation des affaires professionnelles (CCAP) et, d\u2019avoir<br \/>\n\u00e9t\u00e9 nomm\u00e9 pr\u00e9sidente de l\u2019ICE, poste que j\u2019occuperai<br \/>\nau cours de la prochaine ann\u00e9e. <\/p>\n<p>Comment d\u00e9cririez-vous votre<br \/>\nexp\u00e9rience comme b\u00e9n\u00e9vole?<br \/>\nLes r\u00e9compenses ont \u00e9t\u00e9 beaucoup plus importantes<br \/>\nque les d\u00e9fis et l\u2019exp\u00e9rience que j\u2019ai acquise m\u2019a<br \/>\nbeaucoup aid\u00e9, \u00e0 la fois dans ma vie professionnelle<br \/>\net personnelle. Il m\u2019a \u00e9t\u00e9 donn\u00e9 de rencontrer de<br \/>\nplus grands groupes de personnes, ce qui m\u2019aurait<br \/>\n\u00e9t\u00e9 impossible autrement, de travailler avec ces<br \/>\ngroupes et d\u2019apprendre beaucoup d\u2019eux. J\u2019ai d\u00fb faire<br \/>\nface \u00e0 des situations, telles que pr\u00e9sider des r\u00e9unions<br \/>\net si\u00e9ger \u00e0 des comit\u00e9s qui m\u2019ont permis d\u2019acqu\u00e9rir<br \/>\ndes comp\u00e9tences pratiques n\u00e9cessaires dans la<br \/>\nvie de tous les jours comme, entre autres choses,<br \/>\nl\u2019analyse de probl\u00e8mes et de d\u00e9fis, la communica-<br \/>\ntion et la recherche de consensus. Le b\u00e9n\u00e9volat est <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 11<\/p>\n<p>une activit\u00e9 que je recommande fortement.<br \/>\nJ\u2019aimerais \u00e9galement souligner qu\u2019il existe de <\/p>\n<p>nombreuses occasions de b\u00e9n\u00e9volat exigeant un<br \/>\nnombre d\u2019heures pouvant convenir aux membres.<br \/>\nIl m\u2019a \u00e9t\u00e9 permis de constater que les exigences<br \/>\nen mati\u00e8re de temps sont tr\u00e8s flexibles et peuvent<br \/>\n\u00eatre facilement g\u00e9r\u00e9es de fa\u00e7on \u00e0 tenir compte de<br \/>\nma famille et de ma vie personnelle. Par exemple,<br \/>\nlorsque j\u2019\u00e9tais r\u00e9dactrice du bulletin de nouvelles, je<br \/>\nconsacrais au plus une heure par semaine \u00e0 ce travail.  <\/p>\n<p>Vous n\u2019avez pas mentionn\u00e9<br \/>\nle temps consacr\u00e9 au mentorat.<br \/>\nCela en faisait-il partie?<br \/>\nAbsolument. Au d\u00e9but de ma carri\u00e8re, j\u2019ai eu la<br \/>\nchance d\u2019avoir deux excellents mentors. \u00c0 un<br \/>\ncertain moment lorsque le mentorat n\u2019\u00e9tait pas<br \/>\nofficiel comme aujourd\u2019hui, Al van Ireland et Bert<br \/>\nJensen m\u2019ont d\u00e9montr\u00e9 leur int\u00e9r\u00eat et m\u2019ont aid\u00e9<br \/>\n\u00e0 apprendre \u00e0 examiner les probl\u00e8mes sous tous<br \/>\nleurs aspects, et \u00e0 faire valoir ma position sur des<br \/>\nfaits. Lorsqu\u2019on entreprend une nouvelle carri\u00e8re, il<br \/>\nest facile de s\u2019\u00e9garer quelque peu et l\u2019aide de bons<br \/>\nmentors nous permet de rester sur la bonne voie.<br \/>\nDans notre milieu de travail, j\u2019ai actuellement un<br \/>\nprot\u00e9g\u00e9 et j\u2019en aide trois autres.  <\/p>\n<p>Ayant \u00e9t\u00e9 pr\u00e9sidente du CCAP<br \/>\nau cours de la derni\u00e8re ann\u00e9e et<br \/>\ncomme pr\u00e9sidente actuelle de l\u2019ICE,<br \/>\nquels sont les enjeux auxquels la<br \/>\nprofession et l\u2019Institut devront faire face?<br \/>\nPar exemple, un de ces enjeux consiste en la situation<br \/>\n\u00e9conomique actuelle et l\u2019augmentation du recours<br \/>\naux mod\u00e8les d\u2019\u00e9valuation automatis\u00e9e (MEA) qui se<br \/>\ntraduisent par une diminution du travail ex\u00e9cut\u00e9 de<br \/>\nfa\u00e7on traditionnelle, en particulier dans le domaine<br \/>\nr\u00e9sidentiel. Cela \u00e9tant dit, dans certains domaines, y<br \/>\ncompris dans le domaine r\u00e9sidentiel, les occasions<br \/>\nexigeant des \u00e9valuations d\u2019une plus grande complex-<br \/>\nit\u00e9 pouvant entra\u00eener une augmentation de revenus<br \/>\nsont de plus en plus nombreuses. Comme d\u00e9fis \u00e0<br \/>\nrelever, nous devons \u00eatre dispos\u00e9s \u00e0 sortir de notre<br \/>\nzone de confort, ne pas craindre les changements et<br \/>\nnous pr\u00e9parer autant que possible \u00e0 saisir les occa-<br \/>\nsions qui se pr\u00e9sentent sur le march\u00e9 actuel. Plusieurs<br \/>\n\u00e9valuateurs ne r\u00e9alisent pas qu\u2019ils poss\u00e8dent une base <\/p>\n<p>solide de comp\u00e9tences leur permettant d\u2019\u00e9voluer<br \/>\nconfortablement dans de nouveaux domaines, de<br \/>\nse pr\u00e9senter de fa\u00e7on favorable \u00e0 diff\u00e9rents groupes<br \/>\nde clients et d\u2019\u00e9voluer au rythme du march\u00e9. En tant<br \/>\nqu\u2019\u00e9valuateurs et Institut, il nous appartient de tout<br \/>\nmettre en \u0153uvre pour relever ces d\u00e9fis.  <\/p>\n<p>Qu\u2019en est-il des changements  auxquels la<br \/>\nprofession et les membres doivent faire<br \/>\nface concernant les normes internationales<br \/>\nd\u2019\u00e9valuation (NIE) et les normes<br \/>\ninternationales r\u00e9gissant l\u2019information<br \/>\nfinanci\u00e8re (NIIF), ainsi que des politiques<br \/>\nque l\u2019Institut  est \u00e0 mettre en place en vue<br \/>\nde r\u00e9pondre \u00e0 ces exigences?<br \/>\nPour les membres, la meilleur solution consiste \u00e0<br \/>\nembrasser les changements auxquels ils sont con-<br \/>\nfront\u00e9s, qu\u2019ils soient de source interne ou externe,<br \/>\net d\u2019am\u00e9liorer leurs comp\u00e9tences de fa\u00e7on \u00e0 les<br \/>\nsurmonter. Pour nous permettre de faire face \u00e0 ces<br \/>\nchangements et de s\u2019efforcer par tous les moyens<br \/>\nd\u2019am\u00e9liorer la qualit\u00e9 de notre travail, l\u2019Institut peut,<br \/>\nentre autres, exiger que les stagiaires soient titulaires<br \/>\nd\u2019un dipl\u00f4me universitaire, mettre en place une<br \/>\npolitique de cosignature des stagiaires et tenir le<br \/>\nr\u00f4le de chef de file pour ce qui est de l\u2019\u00e9laboration et<br \/>\nde la mise en application des NIE et des NIIF. Il peut<br \/>\n\u00e9galement pr\u00e9senter des s\u00e9ances p\u00e9dagogiques<br \/>\nlors de notre conf\u00e9rence et des webinaires par<br \/>\nl\u2019interm\u00e9diaire de l\u2019U.C.-B. afin de promouvoir le<br \/>\nrespect de ces nouvelles normes.  <\/p>\n<p>De quelle fa\u00e7on nos membres devraient-<br \/>\nils entrevoir ces changements?<br \/>\n\u00c0 mon avis, les stagiaires sont actuellement dans<br \/>\nune position parfaite pour faire face \u00e0 ces change-<br \/>\nments. Ils peuvent se demander o\u00f9 ils souhaitent<br \/>\nd\u00e9buter, jusqu\u2019o\u00f9 ils souhaitent se rendre par la<br \/>\nsuite et o\u00f9 ils souhaitent se retrouver dans cinq<br \/>\nans. Ils sont \u00e9galement en mesure de d\u00e9terminer<br \/>\ndans quels domaines ils veulent se sp\u00e9cialiser,<br \/>\nsoit travailler pour le gouvernement ou avoir leur<br \/>\npropre entreprise. Les CRA ont des possibilit\u00e9s<br \/>\nsimilaires. Ils peuvent se demander o\u00f9 trouver<br \/>\nde nouveaux clients, de quelle fa\u00e7on ils peuvent<br \/>\nmodifier leurs activit\u00e9s et, en ce qui concerne leur<br \/>\ncarri\u00e8re et leurs revenus, leur but pour les ann\u00e9es<br \/>\n\u00e0 venir. Ils doivent \u00e9galement r\u00e9aliser qu\u2019ils ont<br \/>\nconsacr\u00e9 beaucoup de temps \u00e0 leurs \u00e9tudes et<br \/>\nacquis \u00e9norm\u00e9ment d\u2019exp\u00e9riences qu\u2019ils peuvent<br \/>\noffrir et sur lesquelles ils peuvent s\u2019appuyer.  <\/p>\n<p>Une des nouvelles initiatives<br \/>\nimportantes de l\u2019Institut consiste<br \/>\nen la commercialisation et le<br \/>\nrepositionnement de l\u2019organisme.<br \/>\nPourquoi la commercialisation est-elle<br \/>\nactuellement aussi importante?<br \/>\nLa commercialisation est importante quel que<br \/>\nsoit le moment. Cependant, \u00e9tant donn\u00e9 les<br \/>\nconditions \u00e9conomiques actuelles, la commer-<br \/>\ncialisation est essentielle afin d\u2019assurer la survie<br \/>\net la croissance de l\u2019organisation. Afin d\u2019assurer<br \/>\nle succ\u00e8s et la croissance de notre profession, de<br \/>\nl\u2019Institut et de nos membres, dans un monde<br \/>\nen constante \u00e9volution, nous sommes \u00e0 mettre<br \/>\nen place de nombreuses initiatives de commer-<br \/>\ncialisation proactives, qui se sont d\u2019ailleurs d\u00e9j\u00e0<br \/>\nr\u00e9v\u00e9l\u00e9es rentables \u00e0 de nombreux \u00e9gards.<\/p>\n<p>Pouvez-vous nous en<br \/>\ndonner quelques exemples?<br \/>\nNous avons plac\u00e9 des publicit\u00e9s dans diff\u00e9rents<br \/>\njournaux et dans diff\u00e9rentes revues sp\u00e9cialis\u00e9es<br \/>\nqui mettent bien en \u00e9vidence notre image<br \/>\nde marque et notre profession, ainsi que les<br \/>\nmessages destin\u00e9s \u00e0 notre client\u00e8le et au grand<br \/>\npublic. Gr\u00e2ce \u00e0 ces publicit\u00e9s, notre visibilit\u00e9<br \/>\ns\u2019est beaucoup accrue, \u00e0 un point tel que nous <\/p>\n<p>\u00ab Comme d\u00e9fis \u00e0 relever,<br \/>\nnous devons \u00eatre dispos\u00e9s<br \/>\n\u00e0 sortir de notre zone de<br \/>\nconfort, ne pas craindre <\/p>\n<p>les changements et<br \/>\nnous pr\u00e9parer autant <\/p>\n<p>que possible \u00e0 saisir les<br \/>\noccasions qui se pr\u00e9sentent <\/p>\n<p>sur le march\u00e9 actuel. \u00bb<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada12<\/p>\n<p>message du Pr\u00e9sident<\/p>\n<p>sommes actuellement l\u2019organisme auquel les<br \/>\nm\u00e9dias s\u2019adressent lorsqu\u2019ils sont\u00a0\u00e0 la recherche<br \/>\nd\u2019information dans le domaine de l\u2019\u00e9valuation<br \/>\nde biens ou qu\u2019ils ont des questions concernant<br \/>\nl\u2019immobilier en g\u00e9n\u00e9ral. Auparavant, nous<br \/>\nn\u2019\u00e9tions m\u00eame pas sur l\u2019\u00e9cran radar. S\u2019il \u00e9tait<br \/>\npossible de mesurer le succ\u00e8s d\u2019apr\u00e8s le nombre<br \/>\nde fois que les m\u00e9dias communiquent avec<br \/>\nnous, les r\u00e9sultats seraient remarquables.  <\/p>\n<p>Pour nous assurer d\u2019\u00eatre ad\u00e9quatement<br \/>\npr\u00e9par\u00e9s \u00e0 r\u00e9pondre aux demandes des m\u00e9dias,<br \/>\nnous offrons une formation m\u00e9diatique \u00e0 l\u2019inten-<br \/>\ntion de nos membres du Conseil et, lors de notre<br \/>\nr\u00e9cente conf\u00e9rence, nous avons \u00e9galement offert<br \/>\nune formation similaire aux membres du Conseil<br \/>\nprovincial ainsi qu\u2019au personnel. Cette formation<br \/>\nrenforce la confiance des membres qui discutent<br \/>\navec les m\u00e9dias sur les questions int\u00e9ressant<br \/>\nl\u2019Institut ou la profession.  <\/p>\n<p>Notre site Web est possiblement notre support<br \/>\npublicitaire le plus important, nous permettant<br \/>\nd\u2019atteindre des r\u00e9sultants remarquables. Nous<br \/>\navons lanc\u00e9 notre nouveau site Web en novembre<br \/>\n2008. Nous en avons consid\u00e9rablement augment\u00e9<br \/>\nle contenu, \u00e0 savoir : des composantes interactives<br \/>\ncomme des vid\u00e9os ax\u00e9es sur la carri\u00e8re, le coin des<br \/>\nb\u00e9n\u00e9voles et les ressources \u00e0 la client\u00e8le. Non seu-<br \/>\nlement ce site Web nous fait-il conna\u00eetre \u00e0 l\u2019\u00e9chelle<br \/>\nnationale, mais \u00e9galement \u00e0 l\u2019\u00e9chelle internatio-<br \/>\nnale. Nous recevons des demandes de renseigne-<br \/>\nments d\u2019aussi loin que du Royaume-Uni. Les vid\u00e9os<br \/>\nax\u00e9es sur la carri\u00e8re, qui pr\u00e9sentent des \u00e9valuateurs<br \/>\ncomme moi et qui portent sur les opportunit\u00e9s<br \/>\net les avantages li\u00e9s \u00e0 notre profession, ont re\u00e7u<br \/>\nune r\u00e9ponse tr\u00e8s positive et nous permettent de<br \/>\nr\u00e9pondre aux demandes de renseignements d\u2019une<br \/>\ntoute nouvelle fa\u00e7on. Maintenant, lorsque des<br \/>\npersonnes consultent notre site Web et visionnent<br \/>\nces vid\u00e9os, elles peuvent constater le genre de<br \/>\ntravail que font les membres de l\u2019ICE, leur succ\u00e8s<br \/>\net leur satisfaction. Une fois leur int\u00e9r\u00eat \u00e9veill\u00e9<br \/>\net qu\u2019elles communiquent avec l\u2019Institut en vue<br \/>\nd\u2019obtenir plus de renseignements, elles ont d\u00e9j\u00e0 les<br \/>\nr\u00e9ponses \u00e0 plusieurs de leurs questions. Pour ce qui<br \/>\nest des r\u00e9sultats, 500 personnes sont actuellement<br \/>\ninscrites aux cours d\u2019\u00e9valuation immobili\u00e8re et<br \/>\nnous retenons l\u2019attention d\u2019un type de client\u00e8le<br \/>\ntr\u00e8s diff\u00e9rent. \u00c9tant donn\u00e9 la situation \u00e9conomique <\/p>\n<p>actuelle, nous croyons que ce nombre est plut\u00f4t<br \/>\npositif; toutefois, nous proc\u00e9dons \u00e0 une analyse<br \/>\napprofondie de ces outils de recrutement.  <\/p>\n<p>Personnellement, je sais que nos membres<br \/>\nsont extr\u00eamement fiers de leur appartenance \u00e0<br \/>\nl\u2019Institut et qu\u2019ils transmettent notre message<br \/>\naux secteurs industriel et au grand public en<br \/>\nutilisant diff\u00e9rents moyens efficaces. Par exemple,<br \/>\nici en Alberta, les membres de notre chapitre de<br \/>\nLethbridge se sont r\u00e9cemment r\u00e9unis en vue de<br \/>\nplacer des annonces dans un journal local traitant<br \/>\nde l\u2019immobilier afin de promouvoir l\u2019importance du<br \/>\nr\u00f4le des \u00e9valuateurs dans le milieu de l\u2019immobilier.<br \/>\nDans un autre cas, lors d\u2019une convention tenue \u00e0<br \/>\nl\u2019intention des municipalit\u00e9s rurales en Alberta, l\u2019un<br \/>\nde nos cabinets d\u2019\u00e9valuateurs avait un kiosque o\u00f9<br \/>\nil faisait la promotion des services importants que<br \/>\nles \u00e9valuateurs sont en mesure d\u2019offrir \u00e0 ce groupe<br \/>\nde clients potentiels. Pour aider nos membres dans<br \/>\nce domaine et veiller \u00e0 la coh\u00e9rence du message<br \/>\ntransmis, l\u2019Institut a mis en place des panneaux<br \/>\npublicitaires que nos associations provinciales<br \/>\npeuvent obtenir et pr\u00eater aux membres.  <\/p>\n<p>Je ne saurais trop insister sur l\u2019importance du<br \/>\nr\u00f4le que chacun de nos membres joue dans ces<br \/>\nefforts de commercialisation et de communication.<br \/>\nLe fait que les \u00e9valuateurs font, de fa\u00e7on coh\u00e9rente<br \/>\net de mani\u00e8re efficace, notre promotion aupr\u00e8s de<br \/>\nclients potentiels \u00e9quivaut, pour notre profession, \u00e0<br \/>\nune force de vente de milliers de personnes. <\/p>\n<p>Pour ce qui est de faire notre<br \/>\npromotion, l\u2019ICE a reconnu deux<br \/>\nautres personnes qui ont soutenu la<br \/>\nprofession et leur a attribu\u00e9 le titre<br \/>\nAACI (hon.) lors de la conf\u00e9rence<br \/>\nde cette ann\u00e9e. De quelle fa\u00e7on le<br \/>\nprogramme est-il administr\u00e9?<br \/>\nIl s\u2019agit d\u2019un programme absolument remar-<br \/>\nquable qui gagne en importance. Il permet<br \/>\n\u00e0 l\u2019Institut, au Conseil et \u00e0 nos membres de<br \/>\nreconna\u00eetre et de d\u00e9montrer leur appr\u00e9ciation<br \/>\n\u00e0 l\u2019\u00e9gard des personnes qui soutiennent notre<br \/>\npertinence sur le march\u00e9. C\u2019est un honneur<br \/>\npour ces personnes d\u2019\u00eatre reconnues de cette<br \/>\nfa\u00e7on. \u00c0 titre d\u2019exemple, un b\u00e9n\u00e9ficiaire qui<br \/>\nne pouvait \u00eatre pr\u00e9sent pour recevoir son titre<br \/>\nlors de la conf\u00e9rence de l\u2019ann\u00e9e derni\u00e8re, a<br \/>\nfait le voyage jusqu\u2019\u00e0 Qu\u00e9bec cette ann\u00e9e<br \/>\npour accepter personnellement cet honneur<br \/>\nen pr\u00e9sence de nos membres. Le processus de<br \/>\nnomination et les crit\u00e8res de s\u00e9lection nous<br \/>\npermettent de r\u00e9aliser que plusieurs personnes<br \/>\next\u00e9rieures \u00e0 notre profession estiment que<br \/>\nnous jouons des r\u00f4les importants dans le<br \/>\ntravail que nous avons entrepris.  <\/p>\n<p>La d\u00e9fense de notre profession est un<br \/>\nautre moyen pour transmettre notre<br \/>\nmessage. Que ce passe-t-il sur ce front?<br \/>\nLes cadres de l\u2019Institut et la direction pr\u00f4-<br \/>\nnent continuellement la pertinence de notre<br \/>\nprofession et le r\u00f4le des \u00e9valuateurs aupr\u00e8s des<br \/>\nutilisateurs de haut niveau tels que la SCHL, les<br \/>\nTravaux publics et les grandes banques. Ces<br \/>\nefforts ne sont pas instantan\u00e9s, mais ils nous<br \/>\npermettent d\u2019entretenir des dialogues, ce qui<br \/>\nest tr\u00e8s profitable et entra\u00eene in\u00e9vitablement<br \/>\ndes retomb\u00e9es tr\u00e8s positives.  <\/p>\n<p>Ces diff\u00e9rentes initiatives font-elles<br \/>\npartie du Plan strat\u00e9gique de l\u2019Institut?<br \/>\nOui elles en font partie, et c\u2019est pourquoi un<br \/>\nplan strat\u00e9gique est essentiel. Il est toute-<br \/>\nfois important de nous rappeler qu\u2019un plan<br \/>\nstrat\u00e9gique est une feuille de route et non un<br \/>\nitin\u00e9raire. Il permet \u00e0 notre Conseil d\u2019adminis-<br \/>\ntration de guider l\u2019Institut vers son objectif et<br \/>\nd\u2019aider les membres \u00e0 comprendre le but de <\/p>\n<p>\u00ab Les vid\u00e9os ax\u00e9es sur la<br \/>\ncarri\u00e8re, qui pr\u00e9sentent<br \/>\ndes \u00e9valuateurs comme<br \/>\nmoi et qui portent sur les <\/p>\n<p>opportunit\u00e9s et les avantages<br \/>\nli\u00e9s \u00e0 notre profession, ont <\/p>\n<p>re\u00e7u une r\u00e9ponse tr\u00e8s positive<br \/>\net nous permettent de <\/p>\n<p>r\u00e9pondre aux demandes de<br \/>\nrenseignements d\u2019une toute <\/p>\n<p>nouvelle fa\u00e7on. \u00bb<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 13<\/p>\n<p>l\u2019Institut concernant les NIE et les NIIF. Cepen-<br \/>\ndant, notre plan strat\u00e9gique consiste principa-<br \/>\nlement \u00e0 veiller \u00e0 ce que nos membres soient<br \/>\nen mesure d\u2019accomplir un travail de tr\u00e8s haute<br \/>\nqualit\u00e9 et relever efficacement les d\u00e9fis auxquels<br \/>\nils doivent faire face et saisir les opportunit\u00e9s qui<br \/>\nse pr\u00e9sentent dans le monde d\u2019aujourd\u2019hui. Pour<br \/>\nce qui est du r\u00f4le que les \u00e9valuateurs peuvent<br \/>\njouer dans le processus d\u2019\u00e9valuation immobili\u00e8re,<br \/>\nle recours \u00e0 la sensibilisation n\u2019est pas suffisant.<br \/>\nNous gagnons le respect en donnant constam-<br \/>\nment le meilleur de nous-m\u00eames.  <\/p>\n<p>\u00c0 titre de pr\u00e9sidente, comment<br \/>\nvoyez-vous votre r\u00f4le dans ce processus<br \/>\nau cours des prochaines ann\u00e9es?<br \/>\nNotre Conseil d\u2019administration compte un certain<br \/>\nnombre de nouveaux membres et, lorsque j\u2019aurai<br \/>\ntermin\u00e9 mon mandat, j\u2019esp\u00e8re leur avoir appris<br \/>\n\u00e0 reconna\u00eetre les questions pertinentes qu\u2019il faut<br \/>\nposer. Je souhaite non seulement m\u2019entretenir<br \/>\navec le plus grand nombre de membres possi-<br \/>\nbles, mais les \u00e9couter et, gr\u00e2ce au processus de<br \/>\ncommunication, les aider \u00e0 r\u00e9aliser le bien-fond\u00e9<br \/>\nde leur pr\u00e9sence sur le march\u00e9 et \u00e0 comprendre<br \/>\nles choix qui s\u2019offrent \u00e0 eux.  <\/p>\n<p>Pour le Conseil, la gouvernance<br \/>\noccupe une des places importantes<br \/>\npour les ann\u00e9es \u00e0 venir. Pourquoi<br \/>\nest-elle une priorit\u00e9 et quels<br \/>\nen seront les avantages?<br \/>\nPour tout organisme, la gouvernance est<br \/>\nessentielle, \u00e9tant donn\u00e9 son incidence sur<br \/>\nson administration. Nous croyons qu\u2019il est<br \/>\nimportant d\u2019en discuter sans attente de<br \/>\nr\u00e9sultats et sans intentions cach\u00e9es. Nous<br \/>\nvoulons simplement discuter, de fa\u00e7on logique,<br \/>\ndes communications, de l\u2019efficacit\u00e9 de notre<br \/>\nprocessus et de la rentabilit\u00e9 de nos activit\u00e9s.<br \/>\nNous venons de d\u00e9buter ces discussions qui,<br \/>\nnous le croyons, sont appel\u00e9es \u00e0 devenir un<br \/>\nprocessus continu au cours duquel nous nous<br \/>\nefforcerons de nous am\u00e9liorer. <\/p>\n<p>Ainsi, l\u2019Institut peut accomplir<br \/>\nbeaucoup gr\u00e2ce aux b\u00e9n\u00e9voles.<br \/>\nPourquoi le bassin de b\u00e9n\u00e9voles<br \/>\nest-il aussi solide et aussi important?<br \/>\nNous comptons plus de 125 b\u00e9n\u00e9voles<br \/>\nqui si\u00e8gent aupr\u00e8s de diff\u00e9rents comit\u00e9s<br \/>\npermanents, ad hoc et charg\u00e9s des groupes<br \/>\nde travail. C\u2019est pourquoi le bassin de <\/p>\n<p>b\u00e9n\u00e9voles est aussi solide. Je crois \u00e9galement<br \/>\nque leur importance est attribuable \u00e0 la<br \/>\nfiert\u00e9 des \u00e9valuateurs d\u2019appartenir \u00e0 l\u2019ICE<br \/>\net \u00e0 leur d\u00e9sir d\u2019avoir une influence sur les<br \/>\nd\u00e9cisions qui peuvent affecter leur carri\u00e8re<br \/>\nde nombreuses fa\u00e7ons. Le b\u00e9n\u00e9volat est<br \/>\nl\u2019un des meilleurs moyens d\u2019exercer cette<br \/>\ninfluence. Chaque ann\u00e9e, nous demandons<br \/>\ndes b\u00e9n\u00e9voles et, comme les types de<br \/>\npossibilit\u00e9s de b\u00e9n\u00e9volat changent au rythme<br \/>\nde l\u2019\u00e9volution de notre profession, nous<br \/>\nsommes impressionn\u00e9s de constater qu\u2019autant<br \/>\nde personnes sont pr\u00eates \u00e0 participer. En<br \/>\nce qui concerne le b\u00e9n\u00e9volat, nous nous<br \/>\neffor\u00e7ons constamment d\u2019am\u00e9liorer notre<br \/>\nefficacit\u00e9 en ayant de plus en plus recours<br \/>\naux r\u00e9unions virtuelles afin de diminuer de<br \/>\nfa\u00e7on substantielle le temps que les b\u00e9n\u00e9voles<br \/>\ndoivent s\u2019absenter de leur lieu de travail et<br \/>\nde leur famille. De plus, pour faciliter leur<br \/>\nparticipation, nous avons con\u00e7u le \u00ab\u00a0Coin des<br \/>\nb\u00e9n\u00e9voles\u00a0\u00bb sur notre site Web.  <\/p>\n<p>Les b\u00e9n\u00e9voles constituent l\u2019essence m\u00eame<br \/>\nde l\u2019Institut et je suis extr\u00eamement fi\u00e8re d\u2019en<br \/>\nfaire partie.   <\/p>\n<p>Georges Lozano\u2019s article in the last edition<br \/>\nof Canadian Property Valuation highlight-<br \/>\ned the changes and success of the Appraisal<br \/>\nInstitute of Canada (AIC) education policy<br \/>\nover the last 10 years, but somewhat un-<br \/>\nderstated the international recognition and<br \/>\nstanding this policy has brought to AIC<br \/>\nand its members during the same period.<br \/>\nAs an AIC international representative over<br \/>\nthis period, I would like to reinforce that<br \/>\nthe changes highlighted by Georges have<br \/>\nsignificantly enhanced AIC\u2019s reputation<br \/>\nand standing with the leading valuation<br \/>\norganizations in the world.<br \/>\n   AIC is now seen to be a leader in the<br \/>\nvaluation profession and is playing a<br \/>\nsignificant role in the recognized world<br \/>\nbodies such as IVSC and WAVO. The high<br \/>\nstandards that we have established for <\/p>\n<p>Letter to the EDITOR<\/p>\n<p>AIC\u2019s world-wide reputation<br \/>\nmembership in AIC, including our educa-<br \/>\ntion requirements, are recognized as being<br \/>\nequivalent to those of other leading valuation<br \/>\norganizations. As such, they provide AIC<br \/>\nmembers with recognition and profile in the<br \/>\nworld valuation profession.<br \/>\n   Further, the education policy has formed<br \/>\nthe basis for new international reciprocal<br \/>\narrangements with other leading valuation<br \/>\norganizations. The degree requirement forms<br \/>\nthe fundamental platform for membership<br \/>\nand designation in these allied organizations.<br \/>\nWith its education changes in the past 10<br \/>\nyears, AIC has gained mutual and enhanced<br \/>\nrecognition.<br \/>\n   AIC recently signed an agreement under the<br \/>\nWAVO banner with four leading organizations<br \/>\nin Australia, New Zealand, Singapore and<br \/>\nHong Kong to fully recognize each other\u2019s <\/p>\n<p>designations, enabling the Institute\u2019s AACI<br \/>\nmembers who wish to work in these coun-<br \/>\ntries to have their credentials accepted. The<br \/>\nbenefit of AIC membership is demonstrated<br \/>\nby such recognition and I believe it will<br \/>\nprove very beneficial to the AIC as well in<br \/>\nthis worldwide economy.<br \/>\n   To maintain this recognition and to be a<br \/>\nleader in the valuation profession, it is criti-<br \/>\ncal that we continue to build on the past<br \/>\n10 years of change and look to enhancing<br \/>\nand modifying our education program to<br \/>\nmeet the ongoing challenges of the next 10<br \/>\nyears. This will enable AIC to maintain its<br \/>\nposition as a leader in the valuation field<br \/>\nwhich, in turn, will be an ongoing benefit of<br \/>\nmembership in the Institute.<br \/>\n    Keith Goodwin, AACI, P. App.,<br \/>\n    Fellow and AIC Past President <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada14<\/p>\n<p>Georges Lozano, MPA<br \/>\nAIC Chief Executive Officer<\/p>\n<p>14<\/p>\n<p>CPD:<br \/>\nmore than just credits<\/p>\n<p>CEO RePoRT<\/p>\n<p>Obtaining a professional designation marks an important milestone in the achievement of professionalism.<br \/>\nWhile it may seem like the end of a long and<br \/>\narduous process involving many hours of study,<br \/>\nexaminations and hard work, it is, in fact, not<br \/>\nan end in itself, but a new beginning. As a<br \/>\nprofessional, your\u2019s is a life of continuous learning<br \/>\nand self-improvement. The status of highly<br \/>\nqualified professional will be achieved through<br \/>\nyears of experience, adoption of best practices,<br \/>\nand the acquisition of new areas of expertise. In<br \/>\nthis respect, the Appraisal Institute of Canada<br \/>\n(AIC) mandatory continuing professional<br \/>\ndevelopment (CPD) program is an important<br \/>\nelement. As such, CPD should not be considered<br \/>\nan obligation at best and a nuisance at worst, but<br \/>\nan opportunity to advance your professionalism<br \/>\nand develop new areas of expertise that will help<br \/>\nyour career to flourish.<\/p>\n<p>In a previous article, I mentioned a number<br \/>\nof emerging opportunities to expand your<br \/>\nprofessional practice. I also suggested that, while<br \/>\nthe economy is in recovery mode, it might be<br \/>\na good time to prepare oneself and be ready to<br \/>\nexploit these new business areas as the economy<br \/>\ntakes on new strength.<\/p>\n<p>The CPD program is mandatory for all<br \/>\ndesignated members of the Institute. Designated<br \/>\nmembers must acquire a minimum of six CPD <\/p>\n<p>credits annually and a total of no less than 60<br \/>\ncredits over a five-year period. Carry-over credits<br \/>\ndo not count towards the six annual credit<br \/>\nrequirement. Credits are earned at a rate of one<br \/>\nper hour of learning and can include a wide range<br \/>\nof subject matter, including valuation and related<br \/>\ncourses that can help members to expand their<br \/>\nbusiness and technical skills.<\/p>\n<p>Candidates are not required to acquire CPD<br \/>\ncredits for good reason. Candidates have a<br \/>\nmaximum of 10 years from the date of admission<br \/>\nto candidacy to complete all education,<br \/>\ncurriculum and experience requirements<br \/>\nto obtain their designation. In this respect,<br \/>\nCandidates are required to successfully complete<br \/>\none university credit course towards designation<br \/>\neach year to retain Candidate status.<\/p>\n<p>The deadline for designated members to<br \/>\ncomplete and record the minimum six credits<br \/>\nis December 31 of each year. The deadline<br \/>\nfor Candidate members to complete the one<br \/>\nuniversity credit course is September 30 of each<br \/>\nyear. Both Candidates and designated members<br \/>\nmust record the courses they have taken using<br \/>\nthe online tool in the members section of the AIC<br \/>\nwebsite.<\/p>\n<p>As mentioned before, continuing professional<br \/>\ndevelopment should be considered more than<br \/>\njust an obligation, but a great opportunity to<br \/>\nexpand one\u2019s career prospects. So, why not take <\/p>\n<p>advantage of this by making the most of it?<br \/>\nCPD course selection should not be based only<br \/>\non cheapest price or shortest time, but on the<br \/>\nquality of the offering and its usefulness to you as<br \/>\na professional. There are a multitude of courses<br \/>\navailable to help you develop core skills, expand<br \/>\ninto new areas, and strengthen your business<br \/>\nknow-how.<\/p>\n<p>valid areas of learning are described in the<br \/>\nCPD guidelines document which is available<br \/>\non the AIC website at http:\/\/www.aicanada.ca\/<br \/>\ncmsPage.aspx?id=157. It is highly recommended<br \/>\nthat you consult the guidelines to ensure that<br \/>\nany courses you are planning on taking will be<br \/>\nrecognized as valid for the purposes of the CPD<br \/>\nprogram.  <\/p>\n<p>It is important to note that not all CPD courses<br \/>\noffered are guaranteed for credit by the Institute.<br \/>\nGuaranteed credits are automatically awarded for<br \/>\ncourses developed or sponsored by AIC. Examples<br \/>\nare AIC Conferences, AIC curriculum courses, UBC<br \/>\nmini courses, etc. Guaranteed CPD credits will<br \/>\nbe awarded to those programs demonstrating<br \/>\nthat programs reflect currency, are delivered by<br \/>\nqualified instructors, and incorporate a quality<br \/>\nassurance mechanism. Nonetheless, if they fall<br \/>\nwithin the CPD guidelines, there should be no<br \/>\nproblem if you are randomly audited. Questions<br \/>\nregarding clarification about CPD offerings should<br \/>\nbe directed to your provincial association.<\/p>\n<p>\u201cContinuing professional development should be considered more than<br \/>\njust an obligation, but a great opportunity to expand one\u2019s career prospects.\u201d<\/p>\n<p>Continued on page 18<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage.aspx?id=157<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 15<\/p>\n<p>As the Institute\u2019s primary English-language edu-<br \/>\ncation partner, the University of British Columbia<br \/>\nhas worked with AIC to develop a series of mini<br \/>\ncourses that are recognized for guaranteed<br \/>\nCPD credits. At the time of writing, there are 27<br \/>\ncourses listed under UBC\u2019s Sauder Business School<br \/>\nReal Estate Division. These courses are variously<br \/>\navailable as distance learning, in the classroom,<br \/>\nand, now, as webinar offerings.<\/p>\n<p>The new webinar program also known as<br \/>\nFeed Your Future with CPD Fridays was launched<br \/>\nearly this year. On the first Friday of every<br \/>\nmonth, the Real Estate Division offers selected<br \/>\ncourses in webinar\u00a0(live online classroom)<br \/>\nformat. Students taking a webinar (or \u2018web-<br \/>\nbased seminar\u2019) receive a printed copy of the<br \/>\nworkbook in advance of the seminar date and<br \/>\nare provided with access to supplementary<br \/>\nmaterials online. Students are expected to<br \/>\ncomplete two hours of self-study before taking<br \/>\nthe two-hour online seminar. Active participa-<br \/>\ntion in the seminar (e.g., through poll questions<br \/>\nand evaluation surveys) is mandatory in order<br \/>\nto receive AIC CPD credits \u2013 an online quiz is<br \/>\nrequired in some courses. For more informa-<br \/>\ntion, please go to the Sauder Business School<br \/>\nReal Estate Division website accessible through<br \/>\nthis page: http:\/\/www.aicanada.ca\/cmsPage.<br \/>\naspx?id=157. <\/p>\n<p>The guaranteed UBC CPD mini courses cover<br \/>\na wide range including basic refresher courses<br \/>\nsuch as CPD 130: Residential Valuation Basics,<br \/>\nand CPD 131: Commercial Valuation Basics. There<br \/>\nare also valuation related courses such as CPD<br \/>\n115: Appraisal Review. Most of these courses<br \/>\ninvolve from one to four separate lessons and<br \/>\ncan be worth between four and 13 CPD credits,<br \/>\ndepending on the number of hours they require.<\/p>\n<p>There are a number of CPD courses dedi-<br \/>\ncated to the valuation of specific property types. <\/p>\n<p>These include CPD 103: Agricultural Valuation,<br \/>\nCPD 104: Hotel Valuation, CPD 106: Multi-Family<br \/>\nProperty Valuation, CPD 107: Office Property<br \/>\nValuation, CPD 108: Seniors Facilities Valuation,<br \/>\nand CPD 116: Land Valuation.<\/p>\n<p>Beyond appraisal, there are a variety of<br \/>\ncourses aimed at advancing the professional\u2019s<br \/>\nanalytical and critical thinking abilities, such as<br \/>\nCPD 105: Highest and Best Use Analysis, CPD 110:<br \/>\nReal Estate Consulting: Critical Thinking, Research,<br \/>\nand Risk Analysis, CPD 111: Real Estate Consult-<br \/>\ning: Decision Analysis and CPD 112: Real Estate<br \/>\nConsulting: Forecasting. <\/p>\n<p>For those looking to expand their businesses<br \/>\ndevelopment skills, there is CPD 113: Request for<br \/>\nProposals (RFPs) which is aimed at providing a<br \/>\ngood understanding of the RFP process and the<br \/>\nvarious types of RFP proposal evaluation criteria<br \/>\nand methodologies. The goal is to assist profes-<br \/>\nsionals by ensuring a better chance of success in<br \/>\nresponding to RFP opportunities. <\/p>\n<p>There are also a few new offerings that<br \/>\nexplore emerging areas of valuation. One of<br \/>\nthese is valuation for financial reporting under<br \/>\nthe new international financial reporting<br \/>\nstandards that are coming into effect over the<br \/>\nnext few years. CPD 114: Valuation for Financial<br \/>\nReporting &#8211; Real Property Appraisal and IFRS is<br \/>\navailable as a distance learning program and<br \/>\nis offered as a webinar also. This one-lesson<br \/>\ncourse explains how Canada\u2019s adoption of Inter-<br \/>\nnational Financial Reporting Standards (IFRS) will<br \/>\nimpact the appraisal community. The course<br \/>\nexamines potential valuation opportunities<br \/>\narising from IFRS and what individual appraisers<br \/>\ncan do to take advantage of this opportunity. <\/p>\n<p>The other new and emerging area of<br \/>\npractice is the so-called green valuation.<br \/>\nIncreasingly, the importance of sustainable<br \/>\ndevelopment in all industrial sectors is being <\/p>\n<p>recognized. One measure of this recognition<br \/>\nis in the market value of sustainable real<br \/>\nproperty. In this respect, two CPD courses<br \/>\nhave been developed by UBC. The first, CPD<br \/>\n125: Green Value \u2013 Valuing Sustainable Com-<br \/>\nmercial Buildings explores how contemporary<br \/>\nenvironmental issues impact real estate<br \/>\ndecision-making. It describes architectural<br \/>\ndesign and building construction practices<br \/>\nthat contribute to a building\u2019s \u2018green-ness,\u2019<br \/>\ninternational standards for rating green<br \/>\nbuildings, the business case for green build-<br \/>\ning investments, and whether or not green<br \/>\nfeatures add to real estate\u2019s market value. The<br \/>\nsecond is CPD 126: Getting to Green \u2013 Energy<br \/>\nEfficient and Sustainable Housing and it<br \/>\noutlines the benefits of energy efficient and<br \/>\nsustainable real estate.\u00a0The course focuses<br \/>\non \u2018green\u2019 construction and building systems<br \/>\nas well as the\u00a0economic, governmental, and<br \/>\nmarket drivers.\u00a0Together, these two courses<br \/>\nprovide a solid grounding in this emerging<br \/>\narea of practice and will help appraisers be<br \/>\nbetter prepared to handle green valuation<br \/>\nassignments as the market demand for this<br \/>\nwork increases in the years ahead.<\/p>\n<p>Other specialty areas such as the valuation<br \/>\nof machinery and equipment and business<br \/>\nenterprise valuation are introduced through<br \/>\ncourse offerings of the same names. CPD 118<br \/>\naddresses the\u00a0basics of machinery, plant and<br \/>\nequipment valuation, while CPD 101 provides an<br \/>\nintroduction to business valuation, illustrating<br \/>\nthe use and application of business valuation<br \/>\nprinciples. <\/p>\n<p>Other CPD courses are in progress. In the<br \/>\nnear future, Establishing and Managing a Real<br \/>\nEstate Business, Exploratory Data Analysis in<br \/>\nReal Estate, and a course on preparing Letters of<br \/>\nEngagement will become available.<\/p>\n<p>Continued on page 18<\/p>\n<p>university of british Columbia mini courses<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=157<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada16<\/p>\n<p>Georges Lozano, MPA<br \/>\nChef de la direction<\/p>\n<p>Le PPC \u2013<br \/>\nbeaucoup plus que des cr\u00e9dits<\/p>\n<p>RePoRT du Chef de la direction<\/p>\n<p>btenir un titre professionnel<br \/>\nmarque une \u00e9tape importante<br \/>\ndu professionnalisme. Bien que <\/p>\n<p>cela puisse sembler comme la fin d\u2019un<br \/>\nprocessus long et fastidieux faisant appel \u00e0 de<br \/>\nnombreuses heures d\u2019\u00e9tude, \u00e0 des examens et \u00e0<br \/>\nun travail difficile, il s\u2019agit plut\u00f4t d\u2019un nouveau<br \/>\nd\u00e9but. Comme professionnel, votre vie en est<br \/>\nune d\u2019apprentissage continu et d\u2019am\u00e9lioration.<br \/>\nLe statut de professionnel hautement qualifi\u00e9<br \/>\nsera atteint suite \u00e0 des ann\u00e9es d\u2019exp\u00e9rience,<br \/>\n\u00e0 l\u2019adoption et la mise en \u0153uvre de pratiques<br \/>\nexemplaires et \u00e0 l\u2019acquisition d\u2019expertise<br \/>\ndans de nouveaux domaines. \u00c0 ce chapitre, le<br \/>\nprogramme obligatoire de perfectionnement<br \/>\nprofessionnel continu de l\u2019ICE est un \u00e9l\u00e9ment<br \/>\nimportant. \u00c0 ce titre, le PPC ne doit pas \u00eatre<br \/>\nconsid\u00e9r\u00e9 au mieux comme une obligation<br \/>\nou au pire comme une nuisance, mais plut\u00f4t<br \/>\ncomme une occasion de parfaire votre<br \/>\nprofessionnalisme et d\u2019acqu\u00e9rir une expertise<br \/>\ndans de nouveaux secteurs qui vous aideront \u00e0<br \/>\nmener une carri\u00e8re florissante. <\/p>\n<p>Dans un article pr\u00e9c\u00e9dent, j\u2019ai mentionn\u00e9<br \/>\nun certain nombre d\u2019occasions \u00e9mergentes<br \/>\npermettant d\u2019\u00e9largir votre pratique<br \/>\nprofessionnelle. J\u2019ai aussi sugg\u00e9r\u00e9 que bien que<br \/>\nl\u2019\u00e9conomie soit en mode de recouvrement,<br \/>\nle moment est peut-\u00eatre propice pour vous<br \/>\npr\u00e9parer \u00e0 exploiter ces nouvelles occasions<br \/>\nd\u2019affaires avant que l\u2019\u00e9conomie se remette \u00e0<br \/>\nbattre son plein. <\/p>\n<p>Le programme de PPC est obligatoire pour<br \/>\ntous les membres agr\u00e9\u00e9s de l\u2019Institut. En effet,<br \/>\nles membres agr\u00e9\u00e9s doivent obtenir au moins<br \/>\nsix cr\u00e9dits de PPC par ann\u00e9e et un total de 60 <\/p>\n<p>cr\u00e9dits au minimum sur une p\u00e9riode de cinq<br \/>\nans. Les cr\u00e9dits report\u00e9s ne peuvent s\u2019appliquer<br \/>\ncontre l\u2019exigence de six cr\u00e9dits par ann\u00e9e. Les<br \/>\ncr\u00e9dits sont obtenus sur la base d\u2019un cr\u00e9dit par<br \/>\nheure de formation et incluent une vari\u00e9t\u00e9 de<br \/>\nsujets y compris des cours en \u00e9valuation et dans<br \/>\ndes domaines connexes qui peuvent aider les<br \/>\nmembres \u00e0 accro\u00eetre leur champ d\u2019activit\u00e9s et<br \/>\nleurs aptitudes techniques.<\/p>\n<p>Les stagiaires ne sont pas tenus d\u2019obtenir des<br \/>\ncr\u00e9dits de PPC et il en est ainsi pour de bonnes<br \/>\nraisons. Les stagiaires ont un maximum de dix<br \/>\nann\u00e9es \u00e0 compter de leur date d\u2019admission<br \/>\ncomme stagiaires pour compl\u00e9ter toutes les<br \/>\nexigences p\u00e9dagogiques, des programmes et<br \/>\nd\u2019exp\u00e9rience menant \u00e0 l\u2019obtention d\u2019un titre.<br \/>\nAinsi, pour maintenir leur statut de stagiaire,<br \/>\nceux-ci doivent r\u00e9ussir un cours universitaire par<br \/>\nann\u00e9e donnant droit \u00e0 des cr\u00e9dits et menant au<br \/>\ntitre convoit\u00e9. <\/p>\n<p>L\u2019\u00e9ch\u00e9ance pour l\u2019obtention et<br \/>\nl\u2019enregistrement du minimum de six cr\u00e9dits est<br \/>\nle 31 d\u00e9cembre de chaque ann\u00e9e dans le cas des<br \/>\nmembres agr\u00e9\u00e9s. Pour les stagiaires qui doivent<br \/>\ncompl\u00e9ter un cours universitaire donnant droit<br \/>\n\u00e0 des cr\u00e9dits, l\u2019\u00e9ch\u00e9ance est le 30 septembre de<br \/>\nchaque ann\u00e9e. Les stagiaires et les membres<br \/>\nagr\u00e9\u00e9s doivent enregistrer les cours suivis en<br \/>\nutilisant l\u2019outil en ligne dans la section des<br \/>\nmembres du site Web de l\u2019ICE.<\/p>\n<p>Tel que mentionn\u00e9 pr\u00e9c\u00e9demment, le<br \/>\nperfectionnement professionnel continu ne doit<br \/>\npas \u00eatre consid\u00e9r\u00e9 uniquement comme une<br \/>\nobligation mais plut\u00f4t comme une excellente<br \/>\noccasion d\u2019accro\u00eetre nos perspectives de<br \/>\ncarri\u00e8re. Alors pourquoi ne pas en profiter?  <\/p>\n<p>Le choix de cours de PPC ne doit pas \u00eatre<br \/>\nfonction du meilleur prix ou de la dur\u00e9e mais<br \/>\nplut\u00f4t de la qualit\u00e9 et de son utilit\u00e9 pour vous<br \/>\n\u00e0 titre de professionnel. De nombreux cours<br \/>\nsont disponibles pour vous aider \u00e0 d\u00e9velopper<br \/>\ndes aptitudes de base, accro\u00eetre votre champ<br \/>\nd\u2019activit\u00e9s et am\u00e9liorer votre connaissance<br \/>\ng\u00e9n\u00e9rale des affaires. <\/p>\n<p>Les domaines acceptables de formation sont<br \/>\nd\u00e9crits dans les lignes directrices r\u00e9gissant le<br \/>\nPPC qui sont accessibles sur le site Web de l\u2019ICE<br \/>\n\u00e0 l\u2019adresse  http:\/\/www.aicanada.ca\/cmsPage.<br \/>\naspx?id=157. Il est fortement recommand\u00e9 que<br \/>\nvous consultiez ces lignes directrices pour vous<br \/>\nassurer que les cours que vous pr\u00e9voyez suivre<br \/>\nsoient reconnus aux fins du programme de PPC. <\/p>\n<p>Il est important de souligner qu\u2019il n\u2019est<br \/>\npas garanti que tous les cours de PPC seront<br \/>\ncr\u00e9dit\u00e9s par l\u2019Institut. Des cr\u00e9dits garantis<br \/>\nsont automatiquement accord\u00e9s pour les<br \/>\ncours \u00e9labor\u00e9s ou commandit\u00e9s par l\u2019ICE.<br \/>\nPar exemple, les conf\u00e9rences de l\u2019ICE, les<br \/>\ncours au programme de l\u2019ICE, les mini-cours<br \/>\nde l\u2019U.C.-B., etc. Des cr\u00e9dits garantis de PPC<br \/>\nseront accord\u00e9s pour les programmes qui<br \/>\nrefl\u00e8tent la pertinence, dont la prestation rel\u00e8ve<br \/>\nd\u2019instructeurs qualifi\u00e9s et qui comportent<br \/>\nun m\u00e9canisme d\u2019assurance de la qualit\u00e9.<br \/>\nN\u00e9anmoins, si les cours r\u00e9pondent aux<br \/>\nexigences des lignes directrices r\u00e9gissant le<br \/>\nPPC, il ne devrait pas y avoir de probl\u00e8me<br \/>\nen supposant que vous fassiez l\u2019objet d\u2019une<br \/>\nv\u00e9rification al\u00e9atoire. Toute demande<br \/>\nde renseignement au sujet des cours de<br \/>\nPPC devrait \u00eatre dirig\u00e9e \u00e0 votre association<br \/>\nprovinciale. <\/p>\n<p>O<\/p>\n<p>Suite \u00e0 la page 18<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=157<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 17<\/p>\n<p>Comme partenaire anglophone principal<br \/>\nde l\u2019Institut dans le domaine de l\u2019\u00e9ducation,<br \/>\nl\u2019Universit\u00e9 de la Colombie-Britannique a col-<br \/>\nlabor\u00e9 avec nous dans l\u2019\u00e9laboration d\u2019une s\u00e9rie de<br \/>\nmini-cours donnant droit \u00e0 des cr\u00e9dits garantis.<br \/>\nAu moment d\u2019\u00e9crire ces lignes, 27 cours \u00e9taient<br \/>\nofferts par la Division de l\u2019immobilier de l\u2019\u00c9cole<br \/>\ncommerciale Sauder de l\u2019U.C.-B. Ces cours sont<br \/>\ndisponibles \u00e0 distance, en classe et maintenant<br \/>\nsous forme de webinaires.<\/p>\n<p>Le nouveau programme de webinaires<br \/>\n\u00e9galement connu sous le titre  \u00ab Alimenter votre<br \/>\navenir avec les vendredis de PPC \u00bb a \u00e9t\u00e9 lanc\u00e9 plus<br \/>\nt\u00f4t cette ann\u00e9e. Le premier vendredi de chaque<br \/>\nmois, la Division de l\u2019immobilier offre des cours<br \/>\nsous forme de webinaire (salle de classe en ligne).<br \/>\nLes \u00e9tudiants qui participent \u00e0 un webinaire<br \/>\n(ou un s\u00e9minaire en ligne) re\u00e7oivent une copie<br \/>\nimprim\u00e9e du mat\u00e9riel \u00e0 l\u2019avance et ont acc\u00e8s \u00e0<br \/>\ndes mat\u00e9riaux additionnels en ligne. Les \u00e9tudiants<br \/>\ndoivent compl\u00e9ter la portion d\u2019\u00e9tudes autonomes<br \/>\nde deux heures avant de participer au s\u00e9minaire<br \/>\nen ligne, \u00e9galement d\u2019une dur\u00e9e de deux heures.<br \/>\nLa participation active au s\u00e9minaire (par le biais<br \/>\nde questions et de sondages d\u2019\u00e9valuation) est<br \/>\nobligatoire pour obtenir les cr\u00e9dits de PPC de l\u2019ICE<br \/>\n&#8211; un quiz en ligne est requis pour certains cours.<br \/>\nPour plus d\u2019information, veuillez consulter le<br \/>\nsite Web de la Division de l\u2019immobilier de l\u2019\u00c9cole<br \/>\ncommerciale Sauder \u00e0 l\u2019adresse http:\/\/www.<br \/>\naicanada.ca\/cmsPage.aspx?id=157. <\/p>\n<p>Les mini-cours de PPC \u00e0 cr\u00e9dits garantis<br \/>\nde l\u2019U.C.-B. couvrent une vari\u00e9t\u00e9 de sujets, y<br \/>\ncompris des cours de recyclage de base comme<br \/>\nle cours PPC 130 sur les bases de l\u2019\u00e9valuation<br \/>\nr\u00e9sidentielle et le cours PPC 131 sur les bases<br \/>\nde l\u2019\u00e9valuation commerciale. Il existe aussi des<br \/>\ncours li\u00e9s \u00e0 l\u2019\u00e9valuation comme le cours PPC<br \/>\n115 sur l\u2019examen d\u2019\u00e9valuations. La plupart de<br \/>\nces cours comptent entre une et quatre le\u00e7ons<br \/>\ns\u00e9par\u00e9es et peuvent avoir une valeur de jusqu\u2019\u00e0<br \/>\n13 cr\u00e9dits de PPC selon le nombre d\u2019heures<br \/>\nrequises pour les compl\u00e9ter. <\/p>\n<p>Il existe un certain nombre de cours de<br \/>\nPPC qui portent sur l\u2019\u00e9valuation de propri\u00e9t\u00e9s<br \/>\nsp\u00e9cifiques. Entre autres, le cours PPC 103\u00a0: <\/p>\n<p>\u00c9valuation en milieu agricole, le PPC 104\u00a0:<br \/>\n\u00c9valuation en milieu h\u00f4telier, PPC 106\u00a0: \u00c9valu-<br \/>\nation de propri\u00e9t\u00e9s plurifamiliales, le cours PPC<br \/>\n107\u00a0: \u00c9valuation d\u2019\u00e9difices \u00e0 bureaux, le PPC<br \/>\n108\u00a0: \u00c9valuation de r\u00e9sidences pour personnes<br \/>\n\u00e2g\u00e9es et le PPC 116\u00a0: \u00c9valuation des terres.<\/p>\n<p>Au del\u00e0 de l\u2019\u00e9valuation, plusieurs cours sont<br \/>\ndisponibles pour parfaire les aptitudes analy-<br \/>\ntiques et de pens\u00e9e critique du professionnel<br \/>\ncomme le cours PPC 105 : Analyse de l\u2019utilisation<br \/>\noptimale, le PPC 110 : Consultation dans le<br \/>\ndomaine de l\u2019immobilier\u00a0: pens\u00e9e critique, recher-<br \/>\nche et analyse des risques, le PPC 111\u00a0: Consulta-<br \/>\ntion dans le domaine de l\u2019immobilier\u00a0: analyse<br \/>\nd\u00e9cisionnelle et le PPC 112\u00a0: Consultation dans le<br \/>\ndomaine immobilier\u00a0: les pr\u00e9visions. <\/p>\n<p>Ceux qui cherchent \u00e0 am\u00e9liorer leurs<br \/>\naptitudes au niveau des affaires peuvent<br \/>\nsuivre le PPC 113 : Demandes de propositions<br \/>\n(DP), un cours con\u00e7u pour fournir une bonne<br \/>\ncompr\u00e9hension du processus de DP et des<br \/>\ncrit\u00e8res et m\u00e9thodes r\u00e9gissant l\u2019\u00e9valuation des<br \/>\npropositions. L\u2019objectif de ce cours est d\u2019aider<br \/>\nles professionnels \u00e0 accro\u00eetre leurs chances de<br \/>\nsucc\u00e8s lorsqu\u2019ils r\u00e9pondent aux DP. <\/p>\n<p>Quelques nouveaux cours sont \u00e9galement<br \/>\ndisponibles et portent sur les nouveaux secteurs<br \/>\nde l\u2019\u00e9valuation. L\u2019un de ces cours traite de<br \/>\nl\u2019\u00e9valuation aux fins des rapports financiers \u00e0<br \/>\nla lumi\u00e8re des nouvelles normes internatio-<br \/>\nnales d\u2019information financi\u00e8re qui entreront<br \/>\nen vigueur au cours des quelques prochaines<br \/>\nann\u00e9es. Le PPC 114\u00a0: \u00c9valuation aux fins des<br \/>\nrapports financiers \u2013 l\u2019\u00e9valuation immobili\u00e8re<br \/>\net les IFRS, est disponible \u00e0 distance et dans<br \/>\nle format webinaire. Ce cours qui compte une<br \/>\nle\u00e7on explique comment l\u2019adoption des normes<br \/>\ninternationales d\u2019information financi\u00e8re (IFRS)<br \/>\nau Canada affectera le milieu de l\u2019\u00e9valuation. Il<br \/>\nexamine les occasions potentielles d\u00e9coulant<br \/>\ndes IFRS et ce que les \u00e9valuateurs individuels<br \/>\npeuvent faire pour en profiter pleinement. <\/p>\n<p>L\u2019autre nouveau secteur de pratique est<br \/>\nl\u2019\u00e9valuation de b\u00e2timents \u00e9cologiques. De<br \/>\nplus en plus, on reconna\u00eet l\u2019importance du<br \/>\nd\u00e9veloppement durable dans tous les secteurs <\/p>\n<p>industriels. Une mesure de cette reconnaissance<br \/>\nrepose au niveau de la valeur marchande des<br \/>\npropri\u00e9t\u00e9s durables. \u00c0 ce chapitre, deux cours<br \/>\nde PPC ont \u00e9t\u00e9 mis au point par l\u2019U.C.-B. Le<br \/>\npremier, le PPC 125\u00a0: \u00c9valuation de b\u00e2timents<br \/>\n\u00e9cologiques \u2013 l\u2019\u00e9valuation d\u2019\u00e9difices commer-<br \/>\nciaux durables, porte sur comment les ques-<br \/>\ntions \u00e9cologiques contemporaines affectent<br \/>\nles d\u00e9cisions dans le domaine de l\u2019immobilier.<br \/>\nIl d\u00e9crit la conception architecturale et les<br \/>\npratiques de construction qui contribuent \u00e0 la<br \/>\ndurabilit\u00e9 \u00e9cologique d\u2019un \u00e9difice, les normes<br \/>\ninternationales r\u00e9gissant l\u2019\u00e9valuation des b\u00e2ti-<br \/>\nments \u00e9cologiques, l\u2019aspect commercial des<br \/>\ninvestissements dans les b\u00e2timents \u00e9cologiques<br \/>\net si les caract\u00e9ristiques \u00e9cologiques aug-<br \/>\nmentent la valeur marchande d\u2019une propri\u00e9t\u00e9.<br \/>\nLe deuxi\u00e8me cours, le PPC 126 intitul\u00e9 Les<br \/>\nb\u00e2timents \u00e9cologiques &#8211; Propri\u00e9t\u00e9s durables<br \/>\net \u00e0 rendement \u00e9nerg\u00e9tique efficace d\u00e9crit les<br \/>\navantages d\u2019une propri\u00e9t\u00e9 durable et \u00e0 rende-<br \/>\nment \u00e9nerg\u00e9tique efficace. Le cours porte sur la<br \/>\nconstruction et l\u2019am\u00e9nagement de b\u00e2timents<br \/>\n\u00e9cologiques et les divers facteurs \u00e9conomiques,<br \/>\ngouvernementaux et du march\u00e9 \u00e0 consid\u00e9rer.<br \/>\nEnsemble, ces deux cours offrent une base<br \/>\nsolide \u00e0 ce nouveau secteur de pratique et<br \/>\naideront les \u00e9valuateurs \u00e0 mieux se pr\u00e9parer aux<br \/>\ntravaux d\u2019\u00e9valuation de propri\u00e9t\u00e9s \u00e9cologiques<br \/>\n\u00e0 mesure que cro\u00eetra la demande pour ce genre<br \/>\nde travail au cours des ann\u00e9es \u00e0 venir. <\/p>\n<p>D\u2019autres secteurs de sp\u00e9cialit\u00e9 comme<br \/>\nl\u2019\u00e9valuation de la machinerie et de l\u2019\u00e9quipement<br \/>\nont des cours qui portent le m\u00eame nom. Le<br \/>\nPPC 118 porte sur les bases de l\u2019\u00e9valuation de la<br \/>\nmachinerie, d\u2019usines et d\u2019\u00e9quipement alors que<br \/>\nle PPC 101 sert d\u2019introduction \u00e0 l\u2019\u00e9valuation com-<br \/>\nmerciale et illustre l\u2019utilisation et l\u2019application des<br \/>\nprincipes de l\u2019\u00e9valuation commerciale. <\/p>\n<p>D\u2019autres cours de PPC sont en d\u00e9velop-<br \/>\npement. Tr\u00e8s prochainement, un cours sur<br \/>\nl\u2019\u00e9tablissement et la gestion d\u2019une entreprise<br \/>\nimmobili\u00e8re, l\u2019analyse de donn\u00e9es exploratoires<br \/>\ndans le secteur de l\u2019immobilier et un cours sur<br \/>\nla pr\u00e9paration de lettres d\u2019engagement seront<br \/>\ndisponibles. <\/p>\n<p>Suite \u00e0 la page 18<\/p>\n<p>les mini-cours de l\u2019universit\u00e9 de la Colombie-britannique<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=157<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada18<\/p>\n<p>CEO RePoRT continued<\/p>\n<p>Continued from page 15.<\/p>\n<p>RePoRT du Chef de la direction continued<\/p>\n<p>Suire de la page 17.<\/p>\n<p>In addition to the courses provided through<br \/>\nUBC, there are a number of other CPD credit-<br \/>\nworthy seminars and courses available through<br \/>\nAIC\u2019s provincial associations. Please be sure to<br \/>\ncheck with the provincial association websites for<br \/>\nfurther information.<\/p>\n<p>It is important to remember that one or two<br \/>\nCPD courses do not necessarily make you an<br \/>\nexpert in the field. Expertise in any area of practice<br \/>\nrequires both knowledge and skill acquired through<br \/>\nformal education and practical experience. Care<br \/>\nshould be taken before promoting oneself as<br \/>\nexpert in any area of practice, including the core<br \/>\nappraisal functions. For example, notwithstanding <\/p>\n<p>their designation, appraisers who have not been<br \/>\ninvolved in a particular area of practice for many<br \/>\nyears should not hold themselves out as expert<br \/>\nin the field until such knowledge and skills have<br \/>\nbeen adequately updated and refreshed. The<br \/>\nsame holds true for new skills acquired through<br \/>\nCPD. Initially, new skills should be put into<br \/>\npractice under the supervision of an acknowl-<br \/>\nedged expert in the field before work is taken on<br \/>\nindependently.<\/p>\n<p>In some cases, the acquisition of new skills<br \/>\nmay not make you expert, but can certainly<br \/>\nhelp you work better with recognized experts in<br \/>\nthe field and assist you in team building when <\/p>\n<p>taking on complex assignments. (More on team<br \/>\nbuilding in a future article.)<\/p>\n<p>Finally, it is worth noting that AIC\u2019s profes-<br \/>\nsional liability insurance policy covers AIC<br \/>\nmembers for those things that are in the<br \/>\nStandards and that members have been trained<br \/>\nto perform. Certain specialty areas, including<br \/>\nareas addressed by UBC courses, may not be<br \/>\ncovered under the existing policy. Additional<br \/>\ncoverage may be required. When in doubt,<br \/>\ncontact a representative at Martin, Merry and<br \/>\nReid,  AICs insurance member services provider<br \/>\nto find out. http:\/\/www.aicanada.ca\/cmsPage.<br \/>\naspx?id=100   <\/p>\n<p>En plus des cours offerts via l\u2019U.C.-B.,<br \/>\nil existe un certain nombre de s\u00e9minaires<br \/>\net cours donnant droit \u00e0 des cr\u00e9dits et qui<br \/>\nsont offerts par les associations provinciales<br \/>\nde l\u2019ICE. Assurez-vous de consulter leurs<br \/>\nsites Web pour obtenir de plus amples<br \/>\nrenseignements.<\/p>\n<p>Il importe de souligner que vous ne<br \/>\ndeviendrez pas n\u00e9cessairement un expert en<br \/>\nla mati\u00e8re en suivant un ou deux cours de<br \/>\nPPC. L\u2019expertise, peu importe le secteur de<br \/>\npratique, requiert des connaissances et des<br \/>\naptitudes acquises en suivant un programme<br \/>\np\u00e9dagogique formel et un programme<br \/>\nd\u2019exp\u00e9rience pratique. vous devez donc faire<br \/>\npreuve de prudence avant de vous pr\u00e9senter<br \/>\ncomme expert dans un secteur de pratique, y<br \/>\ncompris les fonctions de base en \u00e9valuation.<br \/>\nPar exemple, nonobstant leur titre, les<br \/>\n\u00e9valuateurs qui n\u2019ont pas pratiqu\u00e9 dans un<br \/>\nsecteur quelconque depuis quelques ann\u00e9es<br \/>\nne devraient pas se pr\u00e9senter comme experts<br \/>\navant d\u2019avoir suivi une forme quelconque de <\/p>\n<p>recyclage. Cette r\u00e8gle s\u2019applique \u00e9galement aux<br \/>\nnouvelles aptitudes acquises dans le cadre du<br \/>\nPPC. Au d\u00e9part, ces nouvelles aptitudes doivent<br \/>\n\u00eatre appliqu\u00e9es sous la supervision d\u2019un expert<br \/>\nen la mati\u00e8re avant que les travaux ne soient<br \/>\nentrepris sur une base individuelle. <\/p>\n<p>Dans certains cas, l\u2019acquisition de<br \/>\nnouvelles aptitudes ne fera pas de vous un<br \/>\nexpert mais facilitera certes votre travail<br \/>\navec des experts en la mati\u00e8re et vous<br \/>\naidera \u00e0 travailler en \u00e9quipe lorsque les<br \/>\ntravaux sont plus complexes. Je parlerai<br \/>\ndavantage du travail d\u2019\u00e9quipe dans un<br \/>\narticle ult\u00e9rieur.<\/p>\n<p>En terminant, il m\u00e9rite de souligner<br \/>\nque la police d\u2019assurance-responsabilit\u00e9<br \/>\nprofessionnelle de l\u2019ICE couvre les membres<br \/>\nde l\u2019Institut pour ce qui est mentionn\u00e9 dans<br \/>\nles normes et le travail qu\u2019ils ont \u00e9t\u00e9 form\u00e9s<br \/>\npour faire. Certains secteurs de sp\u00e9cialit\u00e9<br \/>\nsur lesquels portent les cours de l\u2019U.C.-B.<br \/>\npeuvent ne pas \u00eatre couverts par cette<br \/>\nassurance. Une couverture additionnelle<br \/>\npourrait donc s\u2019av\u00e9rer n\u00e9cessaire.<br \/>\nLorsqu\u2019il y a doute, il est recommand\u00e9<br \/>\nde communiquer avec le cabinet Martin,<br \/>\nMerry et Reid, le souscripteur des services<br \/>\nd\u2019assurance aux membres de l\u2019ICE. http:\/\/<br \/>\nwww.aicanada.ca\/cmsPage.aspx?id=100   <\/p>\n<p>\u00ab Tel que mentionn\u00e9<br \/>\npr\u00e9c\u00e9demment, le<br \/>\nperfectionnement <\/p>\n<p>professionnel continu ne<br \/>\ndoit pas \u00eatre consid\u00e9r\u00e9 <\/p>\n<p>uniquement comme une<br \/>\nobligation mais plut\u00f4t<br \/>\ncomme une excellente <\/p>\n<p>occasion d\u2019accro\u00eetre nos<br \/>\nperspectives de carri\u00e8re. \u00bb<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=100<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=100<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=100<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=100<\/p>\n<p>Hosted by the Appraisal Institute (AI\u00ae)<br \/>\n&#038; Federation of Valuation Colleges,<br \/>\nInstitutes and Societies of the Mexican<br \/>\nRepublic, A.C. (FECISVAL). <\/p>\n<p>November 11-13, 2009<\/p>\n<p>C a n c \u00fa n , M e x i c o<br \/>\nFiesta Americana Condesa Hotel<\/p>\n<p>JOIN US!<br \/>\nJoin us for the International Valuation<br \/>\nCongress in Canc\u00fan, Mexico and:<\/p>\n<p>     \u2022 Make new connections<br \/>\n     \u2022 Gain fresh perspectives<br \/>\n     \u2022 Attend Regional meetings<br \/>\n        and national programs<\/p>\n<p>Come away with the tools you need to<br \/>\nsucceed in today\u2019s global marketplace!<\/p>\n<p>www.appraisalinstitute.org\/ivc<\/p>\n<p>http:\/\/www.appraisalinstitute.org\/ivc<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada20<\/p>\n<p>AACI (Hon) Members recognized for<br \/>\noutstanding contributions to profession <\/p>\n<p>O<\/p>\n<p>Member PRofIle<\/p>\n<p>  ver the past decade, the Appraisal Institute of Canada (AIC) has embarked on an ambitious program to advance the profession, taking steps to<br \/>\n enhance its professional studies curriculum, promote continuing professional development, expand the practice horizons of its members, and<br \/>\nimprove its professional practice model. The advice of clients, educators, government officials and legal experts from outside the profession has <\/p>\n<p>been invaluable in these endeavors.<br \/>\nThe objective of the Institute\u2019s honorary designation program is to identify individuals who are ethically above reproach; publicly recognized as leaders in <\/p>\n<p>business, law, academia, and other professions; and who contribute to the AIC\u2019s advancement of the profile, respect, body of knowledge, and advocacy of the<br \/>\nvaluation profession. This honorary designation is with distinction, and comes with the expectation that these honoured and prominent individuals will play an<br \/>\nimportant advisory role within the Institute and its committees, providing leadership and visibility that will assist in advancing our profession. <\/p>\n<p>In 2008, 10 individuals were awarded the first ever honorary designations presented by the AIC. At the Institute\u2019s recently completed 2009 National Conference,<br \/>\ntwo more influential  individuals in Canada\u2019s real estate sector were selected to be recognized in this fashion.<\/p>\n<p>Connie Fair, President and Chief<br \/>\nExecutive Officer, BC Assessment<br \/>\nConnie Fair joined BC Assessment in 1993<br \/>\nas the Director of Policy, Audit and Legal<br \/>\nServices. In 1999, she was appointed<br \/>\nExecutive Director of Corporate Services;<br \/>\nin 2004, Executive Director of Assessment;<br \/>\nin 2007, Executive Director of Business and<br \/>\nCustomer Services; and, in 2008, President<br \/>\nand Chief Executive Officer.<\/p>\n<p>Prior to joining BC Assessment, Connie<br \/>\nworked as a real estate consultant and as Associate Director, Real Estate<br \/>\nDivision of the University of British Columbia, where she also taught at the<br \/>\nSauder School of Business. She obtained a Bachelor of Commerce Degree in<br \/>\n1984 and a Masters of Business Administration, majoring in Organizational<br \/>\nBehaviour and Urban Land Economics, in 1988.\u00a0 <\/p>\n<p>An accomplished author and speaker, Connie has been recognized as an<br \/>\nexpert in real property assessment and taxation and a leader of organiza-<br \/>\ntional change initiatives.<\/p>\n<p>According to Connie, \u201cI was overwhelmed at being honoured in this<br \/>\nfashion by the Appraisal Institute of Canada, an organization that BC Assess-<br \/>\nment has always supported. We have encouraged our staff to become AIC<br \/>\nmembers by covering membership fees and educational costs, and have<br \/>\nencouraged them to serve on AIC committees. It is a matter of wanting our<br \/>\nstaff to be as professional as possible, and being involved with the AIC is<br \/>\ncertainly one of the best ways to achieve that goal. <\/p>\n<p>\u201cEducation is absolutely vital in any profession and that is the strength of<br \/>\nthe relationship between BC Assessment and the AIC. I personally went the<br \/>\nacademic route in urban land economics and subsequently became an Associate<br \/>\nDirector with the UBC\u2019s Real Estate Division, where I was involved in authoring<br \/>\nsome of the material the AIC uses in its educational programs. I have a first-hand<br \/>\nappreciation of the quality of UBC\u2019s education program and the role that the AIC<br \/>\nplays in the education process. <\/p>\n<p>\u201cAs is the case with every profession or industry, we are experiencing high<br \/>\nturnover due to the baby boomers reaching retirement age. In fact, 30% of our staff<br \/>\nhas less than three years of experience. Fortunately, the people we are recruiting<br \/>\nare so bright and well educated that, once they become accredited appraisers,<br \/>\nthey can most certainly fulfill the valuation profession\u2019s increasingly important and<br \/>\ncritical role. In today\u2019s high tech, informational world, people have access to all kinds<br \/>\nof information, including modeling programs where they can determine a value.<br \/>\nHowever, the key to the entire valuation process is in knowing what to do with that<br \/>\ninformation in order to establish an honest and fair opinion of value.<\/p>\n<p>\u201cEven though it is not always the norm for assessment organizations, BC<br \/>\nAssessment feels that it is absolutely critical to have accredited appraisers on<br \/>\nstaff in order to effectively carry out its job. Our staff must understand property<br \/>\nvaluation so that, when we talk to customers, we are not trying to explain a<br \/>\nstatistical model, but simply discussing market value through comparable sales. <\/p>\n<p>\u201cWith our global economy, environmental issues (such as \u2018green\u2019 build-<br \/>\nings), and incredible advancements in technology and communication, make<br \/>\nit a fascinating and interesting time to be involved in the real estate profession.<br \/>\nFor example, at BC Assessment we now ensure we have specialized experts in<br \/>\nspecific markets throughout the province, so that we can offer province-wide <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 21<\/p>\n<p>assessment support in the valuation of properties such as major hotels, shop-<br \/>\nping centres, big box retail and golf courses \u2013 one of our more popular choices.<br \/>\nAs well, we are currently exploring ways in which we can accurately collect<br \/>\ninventory without physically visiting properties. We are trying out technologies<br \/>\nlike state-of-the-art geographical information systems (GIS), oblique image<br \/>\nsoftware (which can provide measurements down to the smallest increments),<br \/>\nbird\u2019s eye ortho photos, street front photos, and many other remarkable innova-<br \/>\ntions. It is a whole new method of efficiently and accurately bringing data to an<br \/>\nappraiser, so that he or she can then add value to the information. We are actu-<br \/>\nally in the process of developing and implementing a pilot project in Nanaimo<br \/>\nthat will allow us to evaluate and refine this process going forward.\u201d  <\/p>\n<p>\u201cI certainly could not have predicted that I would spend most of my<br \/>\ncareer in the assessment and valuation industry, but it has been a ter-<br \/>\nrific journey with many interesting opportunities. To be recognized by the<br \/>\nAppraisal Institute in this way is truly an honour and makes me thankful,<br \/>\nonce again, that I have been able to work alongside so many committed and<br \/>\nexceptional valuation professionals in Canada.\u201d <\/p>\n<p>Jane Londerville, Associate<br \/>\nProfessor, Real Estate and Housing<br \/>\nAdvisor, University of Guelph<br \/>\nJane Londerville is an Associate Professor in<br \/>\nthe Department of Marketing and Consumer<br \/>\nStudies in the University of Guelph\u2019s Col-<br \/>\nlege of Management and Economics. Her<br \/>\nteaching responsibilities include Real Estate<br \/>\nAppraisal, Real Estate Finance, Property<br \/>\nManagement, and the capstone Real Estate<br \/>\nand Housing project course. She is also the <\/p>\n<p>Real Estate and Housing Advisor for students in the program. Jane\u2019s research<br \/>\ninterests include: big box retailing in rural communities, casino design effects<br \/>\non problem gambling behaviour, real estate market efficiency, housing tenure<br \/>\nchoice, mortgage backed securities pricing, real estate financing and valuation<br \/>\nissues, real estate portfolio information, and property management.<\/p>\n<p>Jane provides consulting services as a Senior Consultant with GGA Man-<br \/>\nagement Consultants and with DJL Consulting. She is also well published in<br \/>\nacademic journals. In addition to her academic and professional life, Jane is a<br \/>\nvolunteer chair of the Wellington-Guelph Housing Committee, a non-partisan <\/p>\n<p>group of housing and service providers working to increase the supply of<br \/>\naffordable housing in the City of Guelph and the Wellington County. She is also<br \/>\nthe first academic member of the AIC\u2019s Publications Sub-Committee.<\/p>\n<p>\u201cWith many of my grads having gone into real estate appraisal careers,<br \/>\nreceiving an Honorary AACI from the Appraisal Institute of Canada makes me<br \/>\nvery proud,\u201d says Jane. \u201cThe designation will also mean a great deal to my<br \/>\nstudents when I am encouraging them to take specific real estate courses or to<br \/>\npursue a career in the real estate industry.<\/p>\n<p>\u201cThroughout my teaching career at the University of Guelph, it has been<br \/>\nvery encouraging to see the strides being made in real estate education. For<br \/>\nexample, through collaboration with the University of British Columbia and the<br \/>\nAIC, credit is now being given in the UBC program for some of the real estate<br \/>\ncourses in our program and we are encouraging a number of our students to<br \/>\ntake UBC online courses as electives. Many of our graduates do not go on to<br \/>\ngrad school, but they do tend to pursue professional designations such as the<br \/>\nAACI, which is a great signal to potential employers. In that regard, I am very<br \/>\nproud of the fact that organizations like Altus, AEC, the City of Calgary and BC<br \/>\nAssessment all come to our campus to hire our graduates.<\/p>\n<p>\u201cDuring my teaching career, as well as in a previous life when I was a real<br \/>\nestate consultant, the AIC has played an important role. From an education<br \/>\nstandpoint, the Institute has been very encouraging and receptive to our<br \/>\nprogram and course development. Back when I was involved in doing receiver-<br \/>\nship work on Crown Trust in the early 1980s it was clear that members of the<br \/>\nInstitute needed to be the watchdogs to prevent lending from getting out of<br \/>\nhand by providing an objective point of view on value. A strong and indepen-<br \/>\ndent Appraisal Institute of Canada that encourages training and education, sup-<br \/>\nported by a strong set of ethical standards, is what keeps the industry on track. <\/p>\n<p>\u201cWhen the Institute asked me to serve on its Publications Sub-committee,<br \/>\nI welcomed the opportunity. The experience has allowed me to interact with<br \/>\nprofessionals in the field and to work with other volunteers who have a very<br \/>\nstrong desire to enhance the profession and make it the best it can be.<\/p>\n<p>\u201cAs for going forward, I certainly plan to continue my involvement with the<br \/>\nAIC to help us find instructors for our program and to get Institute input on how<br \/>\nwe can continue to keep our program relevant, so that graduates can eventually<br \/>\nearn their AIC designations. I am also hopeful that we can pursue the possibility<br \/>\nof having some of the post-graduate valuation certificate (PGvC) courses that<br \/>\nare available online presented in the classroom here at Guelph. I believe there is<br \/>\na need to be filled where people can have personal interaction with instructors<br \/>\nwhen working on the complex course material.\u201d <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada22<\/p>\n<p>, the AMC Task Force<br \/>\nprepared and released a survey for Appraisal<br \/>\nInstitute of Canada (AIC) members. The survey<br \/>\nwas sent to 4,764 members of which 1,704<br \/>\nresponded (36% response rate). Over 1,000<br \/>\nresponses were received in the first 24<br \/>\nhours of the survey. This response rate<br \/>\nis the highest ever received by the AIC and<br \/>\nunderscores the importance of the AMC issues<br \/>\nwith the general membership. <\/p>\n<p>What is an appraisal<br \/>\nmanagement company?<br \/>\nOne of the first things the survey did was<br \/>\nestablish a firm basis or definition for an<br \/>\nappraisal management company (AMC). Based<br \/>\non the survey results, the following definition<br \/>\nhas been noted by the AIC Board of Directors:<\/p>\n<p>An appraisal management company (AMC)<br \/>\nis a business entity that has been contracted by<br \/>\nthird parties (typically lenders) to manage the<br \/>\nappraisal ordering and review process on their<br \/>\nbehalf.<\/p>\n<p>The AMC service replaces the in-house<br \/>\nappraisal ordering and review process that<br \/>\nthe AMC\u2019s clients may have conducted on<br \/>\ntheir own.<\/p>\n<p>Who did we survey and why?<br \/>\nWith respect to demographics, the survey<br \/>\ntargeted all AACIs, CRAs, Candidates and retired<br \/>\nmembers and made no distinction for fee\/non<br \/>\nfee. This was done to garner the widest possible<br \/>\nfeedback from those active in the fee appraisal<br \/>\nbusiness and also from those who may have<br \/>\nbeen doing fee work and recently changed<br \/>\npositions or retired, as it was felt that they too<br \/>\nhad important feedback to provide. <\/p>\n<p>By Dan Wilson, AACI, P. App., member AMC Task Force<\/p>\n<p>Who responded?<br \/>\nAs indicated above, 1,704 members took the time<br \/>\nto voice their concerns. Responses were received<br \/>\nfrom every province in Canada, with the majority<br \/>\n(78%) coming from BC, Alberta and Ontario. This<br \/>\nis not surprising given the membership totals in<br \/>\nthese provinces. Ontario had the highest response<br \/>\nrate at 35.9% of total responses. <\/p>\n<p>Overwhelmingly, the highest number of<br \/>\nresponses came from the larger urban centres<br \/>\n(i.e., populations of 100,000 or more).<\/p>\n<p>There was balanced response representation<br \/>\nby designation, with CRAs accounting for<br \/>\napproximately 37% of the respondents, AACIs<br \/>\naccounting for 34%, and Candidates accounting<br \/>\nfor the balance. <\/p>\n<p>Of those in private practice, the majority<br \/>\nof respondents work in offices of less than five<br \/>\npeople (56.2%) and, in those small offices,<br \/>\n84.3% of staff hold a designation. <\/p>\n<p>How are you retained<br \/>\n(i.e., by contract or by quote)?<br \/>\nThe survey identified that our members are<br \/>\nworking for AMCs either on a quote basis for<br \/>\nindividual assignments or under a contract to<br \/>\nprovide services. <\/p>\n<p>45% of respondents reported that they had<br \/>\nalready entered into a contract with an AMC. As<br \/>\na follow up question the survey asked \u2018would<br \/>\nyou ever consider entering into an AMC<br \/>\ncontract?\u2019. Responses were 56.8% affirmative<br \/>\nand 42.7% negative.<\/p>\n<p>Of those that had already entered into a<br \/>\ncontract, 66% reported that the AMC had set<br \/>\nthe terms of the contract and the majority<br \/>\n(58%) of respondents were approached directly<br \/>\nby the AMC to enter into the contract. <\/p>\n<p>What are the issues?<br \/>\nFees, Fees, Fees\u2026.<br \/>\nNot surprisingly, the survey indicated that<br \/>\nthe top concern of members in dealing with<br \/>\nAMCs is the effect that these organizations<br \/>\nare having on appraisal fees. This is also the<br \/>\n#1 concern expressed in emails the Task Force<br \/>\nreceives from members. Concerns about fees<br \/>\nare followed relatively closely by concerns<br \/>\nover a fair distribution of workloads, lack of<br \/>\ncontact with banks, receiving full information<br \/>\nfrom clients, and the time logs associated<br \/>\nwith AMC work. <\/p>\n<p>Top five concerns in working with<br \/>\nAMCs, as reported by AIC members<br \/>\nin the survey:<br \/>\n1.  Fees  78.9%<br \/>\n2.  Fair distribution of work  64.8%<br \/>\n3.  Contact with bank  61.9%<br \/>\n4.  Full information from client    60.5%<br \/>\n5.  Time logs  58.8%<\/p>\n<p>Delving deeper into the appraisal<br \/>\nfee issue, the survey indicated that, of<br \/>\nthose who actively work for AMCs, 58%<br \/>\nof respondents report being on both a fee<br \/>\nschedule and fee quote arrangement with<br \/>\nAMCs. <\/p>\n<p>The task force survey then looked at<br \/>\nwhat effect members felt AMCs were<br \/>\nhaving on appraisal fees. The response<br \/>\nis somewhat surprising in that 55% of<br \/>\nrespondents report that AMCs have had a<br \/>\nnegative affect on the fees charged, while<br \/>\n41.6% reported that AMCs are having no<br \/>\neffect at all. However, only 3.4% reported<br \/>\nthat AMCs have had a positive effect on fees.<\/p>\n<p>amC Task force<br \/>\n                             survey results<\/p>\n<p>In April 2009<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 23<\/p>\n<p>Who are the big players?<br \/>\nThe survey also asked members to consider<br \/>\nwhich of the management companies are having<br \/>\nthe greatest impact on appraisal fees. As there<br \/>\nare only a handful of AMCs actively working in<br \/>\nCanada at this point, the results are not entirely<br \/>\nsurprising and are summarized as follows:<\/p>\n<p>Organizations which have had the<br \/>\ngreatest affect on fees, as reported by<br \/>\nAIC members (note: the survey question<br \/>\nspecified neither a positive nor negative affect):<br \/>\n1.  Nationwide Appraisal Services (NAS)<br \/>\n 30.2% of respondents<br \/>\n2.  Centract Settlement Services  29.4%<br \/>\n3.  Solidifi  23.2%<br \/>\n4. FnF  12.4%<\/p>\n<p>What about business practice concerns?<br \/>\nThe Task Force has also received several concerns<br \/>\nfrom members about issues related to business<br \/>\npractices and the survey addressed this issue.<br \/>\nSurvey respondents reported the following busi-<br \/>\nness practice concerns:<\/p>\n<p>Top five business practice concerns<br \/>\n1.  Feel pressure to complete  <\/p>\n<p>reports in very little time  81.7%<br \/>\n2.  Feel that AMCs are  <\/p>\n<p>monopolizing the market  81.4%<br \/>\n3.  Feel pressured to accept  <\/p>\n<p>a lesser fee  78.1%<br \/>\n4.  Missed opportunities for an  <\/p>\n<p>appraisal assignment because<br \/>\nyou do not respond quickly<br \/>\nenough to an offer   76.4%<\/p>\n<p>5.  Experience increased<br \/>\nadministrative requirements<br \/>\nin response  to an AMC\u2019s need<br \/>\nfor updates and\/or file<br \/>\nprogress reports  75.3%<\/p>\n<p>Are there other threats<br \/>\nto the residential business?<br \/>\nWhile management companies top the list of<br \/>\nperceived threats to business for our members,<br \/>\nthey are not the only concerns. Members also<br \/>\nreported that EMILI and AvMs continue to compete<br \/>\nwith conventional appraisals. <\/p>\n<p>This is followed by concerns over our own<br \/>\nmembers\u2019 report quality and competition from<br \/>\nother appraisal organizations. <\/p>\n<p>Top threats to business practice, as<br \/>\nreported by respondents<br \/>\n1.  AMCs  73.1%<br \/>\n2.  EMILI  60.4%<br \/>\n3.  AvMs  54.0%<br \/>\n4.  Report quality  44.6%<br \/>\n5.  Other appraisal organizations  42.9% <\/p>\n<p>Looking forward<br \/>\nWe then asked how the respondents foresee AMCs<br \/>\naffecting the appraisal business in the future?<br \/>\nLooking into the future of residential appraisal, fees<br \/>\nand control over their own destiny top member<br \/>\nconcerns. This is followed closely by concerns over<br \/>\nthe quality of reports in general.<br \/>\n70% of respondents foresee AMCs<br \/>\nnegatively affecting fees in the future.<br \/>\n75% of respondents feel that they will have<br \/>\nless control over the amount of work that<br \/>\nthey receive now or will receive in the future.<\/p>\n<p>What are the next steps?<br \/>\nThe Task Force mandate is to investigate the entire<br \/>\nAMC issue, clarify what the AIC can and cannot<br \/>\nchange, make a request\/report to the Board, and<br \/>\ncommunicate information to the members.<br \/>\n     Representatives from the four largest AMCs were<br \/>\ninvited to attend the National Conference in Mont.<br \/>\nTremblant in May 2009. They conducted a seminar<br \/>\nfollowed by a Q &#038; A panel that was well attended<br \/>\nby conference participants. A summary of the ses-<br \/>\nsion is available on the AIC e-library web site  <\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage.aspx?id=263<br \/>\nPrior to the session, the AMC Task Force met <\/p>\n<p>with representatives of Nationwide Appraisal<br \/>\nServices, Solidifi, Centract Settlement Services<br \/>\nand FNF. A good dialogue was opened and the<br \/>\ncommittee is optimistic that\u00a0this will lead to<br \/>\nfurther discussions between the AIC and these<br \/>\nmajor corporations. <\/p>\n<p>The next step for the Task Force is to delve<br \/>\ndeeper into the results of the survey and to<br \/>\nmake specific recommendations to the AIC<br \/>\nBoard of Directors regarding possible courses<br \/>\nof action. The member concerns and results<br \/>\nvoiced in the survey and directly to the Task<br \/>\nForce members are being compiled and will<br \/>\nbe presented to the AIC Board of Directors for<br \/>\ntheir consideration. <\/p>\n<p>AMC task Force<br \/>\nGeorge Ward, AACI, P. App.  \u2013 Chair<br \/>\nDino Giuliani, AACI, P. App<br \/>\nRichard Graves, CRA<br \/>\nPaula Malcolm-Schaller, CRA<br \/>\nTony Miraglia, CRA<br \/>\nDan Wilson, AACI, P. App<br \/>\nTo contact the Task Force email:<br \/>\nAMC_Taskforce@aicanada.ca<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage.aspx?id=263<br \/>\nmailto:AMC_Taskforce@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada24<\/p>\n<p>n previous articles dealing with International<br \/>\nvaluation Standards (IvS), a brief summary of<br \/>\nthe content and makeup of the 2007 Edition <\/p>\n<p>was presented (Part 1). The next article provided<br \/>\na brief comparison between Canadian Uniform<br \/>\nStandards of Professional Appraisal Practice<br \/>\n(CUSPAP) and IvS as each deals with market value<br \/>\nbasis for appraising (Part 2). The third installment<br \/>\nprovided a refresher course on generally accepted<br \/>\nvaluation principles (GAVP) and identified the<br \/>\nvarious property types covered in IvS. (Part 3).<br \/>\nThis article will briefly summarize IVS 1 \u2013 Market<br \/>\nValue Basis of Valuation and IVS 2 \u2013 Basis<br \/>\nOther Than Market Value. <\/p>\n<p>IVS 1 \u2013 MArKEt VALUE<br \/>\nBASIS OF VALUAtION<br \/>\nThe introduction of this section of IVS provides<br \/>\nthe following definition of market value as being<br \/>\n\u201cthe estimated amount for which a property<br \/>\nshould exchange on the date of valuation between<br \/>\na willing buyer and a willing seller in an arm\u2019s<br \/>\nlength transaction after proper marketing wherein<br \/>\nthe parties had each acted knowledgably, pru-<br \/>\ndently and without compulsion.\u201d 1<\/p>\n<p>This very definition appears in Canadian<br \/>\nUniform Standards of Appraisal Practice (CUSPAP)<br \/>\nin the Practice Notes at 12.16.3. However, IVS<br \/>\ngoes on to discuss in detail various words or<br \/>\nphrases contained within this definition. Such as<br \/>\n\u2018the estimated amount\u2026,\u2019 \u2018a property should<br \/>\nexchange\u2026,\u2019 \u2018on the date of valuation\u2026,\u2019 \u2018a<br \/>\nwilling buyer\u2026,\u2019 etc. This discussion clarifies<br \/>\nthese important concepts that form part of the<br \/>\ndefinition. For example, the \u2018willing buyer\u2019 is<br \/>\nreferred to as one who is motivated, but not<br \/>\ncompelled to buy; one that is not over-eager<br \/>\nnor determined to buy at any price; one who<br \/>\npurchases in accordance with the realities on <\/p>\n<p>the current market and with current market<br \/>\nexpectations, rather than in relation to an<br \/>\nimaginary or hypothetical market that cannot be<br \/>\ndemonstrated or anticipated to exist. While this<br \/>\nexplanation may be obvious to a professional<br \/>\nappraiser, similar discussions appear throughout<br \/>\nIVS and provide an excellent resource that can<br \/>\nassist our members in understanding various<br \/>\nvaluation concepts. These discussions also<br \/>\ncontain verbiage an appraiser can use to assist<br \/>\nthe reader of a report in understanding these<br \/>\nsame concepts.<\/p>\n<p>The Statement of Standard provides rules<br \/>\nthat an appraiser must adhere to when per-<br \/>\nforming a market value appraisal. As previously<br \/>\npointed out, these rules are not unfamiliar.<br \/>\nCUSPAP Appraisal Standard Rules and IVS-1<br \/>\nbasically mirror each other. Indeed, in the IVS-1<br \/>\nStatement of Standard, it appears that the only<br \/>\nmajor difference from CUSPAP is the certification<br \/>\nstatement. In IVS \u2018certification\u2019 is referred to as<br \/>\n\u2018compliancy.\u2019 In order to adhere to IVS-1 when<br \/>\nperforming an appraisal for financial accounting<br \/>\npurposes, an appraiser must include a certifica-<br \/>\ntion statement, which includes the following: <\/p>\n<p>\u201cMy analyses, opinions, and conclusions were<br \/>\ndeveloped, and this report has been prepared, in<br \/>\nconformity with the Canadian Uniform Stan-<br \/>\ndards of Professional Appraisal Practice and the<br \/>\nInternational valuation Standards;\u201d<\/p>\n<p>IVS 2 \u2013 BASIS OtHEr<br \/>\ntHAN MArKEt VALUE<br \/>\nThe objective of IVS-2 is to identify, explain<br \/>\nand distinguish bases of valuation other than<br \/>\nmarket value and establish standards for their<br \/>\napplication. Alternative valuation basis may be<br \/>\nappropriate in specific circumstances and IVS-2<br \/>\nprovides the distinctions between market value <\/p>\n<p>and these various other valuation bases which<br \/>\ngenerally require different assumptions, which, if<br \/>\nnot clearly identified, may result in a misinterpre-<br \/>\ntation of the valuation.<\/p>\n<p>These other valuation bases fall into three<br \/>\nprinciple categories.<\/p>\n<p>The first category reflects the benefits that<br \/>\nan entity enjoys from ownership of an asset. The<br \/>\nvalue is specific to that entity. Although, under<br \/>\nsome circumstances, it may be the same as the<br \/>\namount that could be realized from the sale of the<br \/>\nasset, this value essentially reflects the benefits<br \/>\nreceived by holding the asset, and, therefore, does<br \/>\nnot necessarily involve a hypothetical exchange.<br \/>\nInvestment value falls under this category. Differ-<br \/>\nences between the value of an asset to a particular<br \/>\nentity and the market value provide the motiva-<br \/>\ntion for buyers or sellers to enter the marketplace.<\/p>\n<p>The second category represents the price that<br \/>\nwould be reasonably agreed between two specific<br \/>\nparties for the exchange of an asset. Although the<br \/>\nparties may be unconnected and have negoti-<br \/>\nated at arm\u2019s length, the asset is not necessarily<br \/>\nexposed in the wider market and the price agreed<br \/>\nmay be one that reflects the specific advantages<br \/>\n(or disadvantages) of ownership to the parties<br \/>\ninvolved rather than the market at large. This<br \/>\ncategory includes fair value, special value and<br \/>\nsynergistic value.<\/p>\n<p>The third category is value determined in<br \/>\naccordance with a definition set out in a statute<br \/>\nor a contract.2 It is worthwhile to expand on these<br \/>\nconcepts in order to be able to distinguish them<br \/>\nfrom market value.<\/p>\n<p>Fair value: The amount for which an asset could<br \/>\nbe exchanged between knowledgeable,  willing<br \/>\nparties in an arm\u2019s-length transaction.<br \/>\n     For most purposes, valuations under Interna-<\/p>\n<p>Primer on<br \/>\nInternational Valuation Standards \u2013 Part 4<\/p>\n<p>I<\/p>\n<p>By Ray Bower, AACI, P. App., Chair, International valuation Standards Sub-Committee<br \/>\nInternational Valuation Standards<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 25<\/p>\n<p>tional Financial Reporting Standards (IFRS) require<br \/>\nthe use of fair value. This is a specific application<br \/>\nof fair value that may require more restrictive<br \/>\nassumptions than are required in general use.<br \/>\n     A common application of Fair Value is for<br \/>\nassessing the price that is fair for the shareholder<br \/>\nin a business, where particular synergies between<br \/>\ntwo specific parties may mean that the price that<br \/>\nis fair between them is different from the price<br \/>\nthat might be obtainable in the wider market. <\/p>\n<p>Investment value: The value of a property<br \/>\nto a particular investor, or class of investors, for<br \/>\nidentified investment or operational objectives.<br \/>\nThis subjective concept relates a specific prop-<br \/>\nerty to a specific investor, group of investors, or<br \/>\nentity with identifiable investment objectives<br \/>\nand\/or criteria. <\/p>\n<p>Special purchaser: A purchaser to whom a<br \/>\nparticular asset has Special Value because of<br \/>\nadvantages arising from its ownership that<br \/>\nwould not be available to general purchasers in<br \/>\nthe market.<\/p>\n<p>Special value: An amount above the Market<br \/>\nValue that reflects particular attributes of an asset<br \/>\nthat are only of value to a Special Purchaser. Such<br \/>\nattributes can include the physical, geographi-<br \/>\ncal, economic or legal characteristics of an asset.<br \/>\nMarket Value requires the disregard of any ele-<br \/>\nment of Special Value because at any given date it<br \/>\nis only assumed that there is a willing buyer, not a<br \/>\nparticular willing buyer.  <\/p>\n<p>Synergistic value: An additional element of value<br \/>\ncreated by the combination of two or more interests<br \/>\nwhere the value of the combined interest is worth<br \/>\nmore than the sum of the original interests.3<\/p>\n<p>Going concern: This describes a situation<br \/>\nwhere an entire business is transferred as an<br \/>\noperational entity. <\/p>\n<p>Liquidation value: This describes a situation<br \/>\nwhere a group of assets employed together in a<br \/>\nbusiness are offered for sale separately, usually<br \/>\nfollowing the closure of the business.<\/p>\n<p>Salvage value: This describes the value<br \/>\nof an asset that has reached the end of its<br \/>\neconomic life for the purpose it was made.<br \/>\nThe asset may still have value for an alterna-<br \/>\ntive use for recycling. <\/p>\n<p>In today\u2019s economic climate, appraisers are often<br \/>\nfaced with providing appraisals for \u2018power of sale\u2019<br \/>\nor \u2018forced sale\u2019 proceedings. IVS contains some<br \/>\nvaluable insight which is worth repeating. The<br \/>\nterm \u2018forced sale\u2019 is often used in circumstances<br \/>\nwhere a seller is under compulsion to sell and\/<br \/>\nor a proper marketing period is not available. The<br \/>\nprices obtainable in these circumstances may not<br \/>\nmeet the definition of market value. It will depend<br \/>\nupon the nature of the pressure on the seller or<br \/>\nthe reasons why proper marketing cannot be<br \/>\nundertaken. It may also reflect the consequences<br \/>\nfor the seller of failing to sell within a specified<br \/>\nperiod. Unless the nature of, and reason for, the<br \/>\nconstraints on the vendor are known, the price<br \/>\nobtainable in a forced sale will reflect its particular<br \/>\ncircumstances, rather than those of the hypotheti-<br \/>\ncal willing seller in the market value definition.<br \/>\nThe price obtainable in a forced sale will bear only<br \/>\na coincidental relationship to market value, or any<br \/>\nof the other bases defined in IVS-2. \u2018Forced sale\u2019<br \/>\nis not a basis of valuation. It is a description of the<br \/>\nsituation under which a transfer takes place, not a<br \/>\ndistinct measurement objective.4<\/p>\n<p>As with IVS-1, in addition to a \u2018compliancy\u2019 or<br \/>\n\u2018certification\u2019 statement that acknowledges confor-<br \/>\nmity to IVS, there are certain disclosure requirements<br \/>\nthat are required over and above the requirements<br \/>\nof CUSPAP. For example, an in-house appraiser (or<br \/>\ninternal valuer) must, within the report, disclose the<br \/>\nexistence and nature of the relationship between the<br \/>\ninternal valuer and the entity controlling the asset. <\/p>\n<p>It is important to recognize that CUSPAP<br \/>\nAppraisal Standard Rule 6.2.3 requires that \u201can<br \/>\nappraiser must identify the purpose of the assign-<br \/>\nment, including a relevant definition of value:\u201d The<br \/>\ncomments go on to require that the appraiser must<br \/>\nidentify the source of the definition. In other words,<br \/>\nCUSPAP does not require a definition of market<br \/>\nvalue, just value. So, depending on the assignment,<br \/>\nIvS can be referenced for a valuation basis and<br \/>\nrelated appropriate value definitions, other than<br \/>\nmarket value.  <\/p>\n<p>End notes<br \/>\n1   IvS, 8th Edition \u2013 Standard 1<br \/>\n2  International valuation Standards (IvS) \u2013  <\/p>\n<p>8th Edition \u2013 IvS-2 Discussion<br \/>\n3  International valuation Standards (IvS) \u2013  <\/p>\n<p>8th Edition \u2013 IvS-2<br \/>\n4  International valuation Standards (IvS) \u2013  <\/p>\n<p>8th Edition \u2013 IvS-2  6.11<\/p>\n<p>International Valuation Standards<br \/>\nSub Committee<br \/>\nRaymond Bower, AACI, P. App.  \u2013 Chair<br \/>\nLarry Dybvig, AACI, P. App.<br \/>\nDavid Jenkins, AACI, P. App.<br \/>\nLouis Poirier, AACI, P. App.<br \/>\nBrad Wagar, AACI, P. App.<br \/>\nPaul Olscamp, AACI, P. App., Fellow<br \/>\nGeorge Ward, AACI, P. App.<br \/>\nTo contact this committee email:<br \/>\nstandards@aicanada.ca<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:standards@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada26<\/p>\n<p>The value of a complaint<\/p>\n<p>he aim of this article is not to consider the<br \/>\ncost of maintaining a professional practice<br \/>\nprocess to adjudicate complaints about <\/p>\n<p>a member\u2019s appraisal and business services, as<br \/>\nthat is the least the Appraisal Institute of Canada<br \/>\n(AIC) is required to do as a self-governing body<br \/>\nof professional appraisers. My aim is to articulate<br \/>\na view on the appropriateness of members<br \/>\ncomplaining about their peers.<\/p>\n<p>Before I proceed, it should be understood that<br \/>\nthe Institute will dismiss any complaints deemed<br \/>\nto be frivolous, if they appear to have been<br \/>\nlodged in order to gain a competitive advantage,<br \/>\nor if they are otherwise improper. Therefore,<br \/>\nmembers should not be concerned if they are<br \/>\nthe subject of such a complaint. In addition,<br \/>\nthey must understand that even these types of<br \/>\ncomplaints require time for response from AIC.<\/p>\n<p>Each year, formal complaints affect an aver-<br \/>\nage of about 2% of the membership. In 2008,<br \/>\n40% of these formal complaints originated from<br \/>\nAIC members. Contrast that with an average 11%<br \/>\nof member complaints against members to State<br \/>\nregulatory bodies in the US. <\/p>\n<p>At my Chapter, the Counsellor, Professional<br \/>\nPractice facilitated a discussion of when it is<br \/>\nappropriate to complain against a peer. The<br \/>\ndiscussion ranged from never, to having a<br \/>\nprofessional obligation to do so. In the end, there<br \/>\nwas a consensus that something in the middle<br \/>\nground was appropriate. That is, the issue has<br \/>\nto be sufficiently serious to warrant a formal<br \/>\nprofessional practice investigation based on sound <\/p>\n<p>By Grant Uba, AACI, P. App., Chair, Professional Affairs Coordinating Committee<\/p>\n<p>reasoning that you can and should provide.<br \/>\nHowever, there was also consensus that, <\/p>\n<p>before you proceed with a complaint, profes-<br \/>\nsional courtesy suggests that you contact the<br \/>\nmember and discuss the concerns you might<br \/>\nhave, to at least alert that member that there<br \/>\nappears to be something amiss. Depending on<br \/>\nthe circumstances of how you came into pos-<br \/>\nsession of someone else\u2019s appraisal, you should<br \/>\nalways discuss with your client that you believe<br \/>\nthe report may warrant submitting a formal<br \/>\ncomplaint and seek their instructions.  <\/p>\n<p>I can say that, if one of my fellow appraisers<br \/>\nbelieves that something appears offside in one of<br \/>\nmy reports, I would appreciate a call from him or<br \/>\nher before the report is sent off to the Institute.<br \/>\nSometimes, there are circumstances that may<br \/>\naccount for deficiencies in our report.  <\/p>\n<p>As well, there are days when you may find<br \/>\nyourself in possession of a fraudulent appraisal<br \/>\nreport. By contacting the appraiser, it can be<br \/>\nquickly identified and preventative measures taken<br \/>\nto minimize risk and liability.<\/p>\n<p>Professional Affairs<br \/>\nCoordinating Committee<br \/>\nGrant Uba, AACI, P. App. \u2013 Chair<br \/>\n   President Elect<br \/>\nJohn Ingram, AACI, P. App.<br \/>\n   Chair Adjudicating Committee<br \/>\nLeonard Lee, AACI, P. App.<br \/>\n   Chair Appeal Committee<br \/>\nDarrell Thorvaldson, AACI, P. App.<br \/>\n   Co-Chair Investigating Committee<br \/>\nSheldon Rajesky, AACI, P. App.<br \/>\n   Co-Chair Investigating Committee<br \/>\nBrian varner, AACI, P. App.<br \/>\n   Chair Standards Committee<br \/>\nTo contact this committee email:<br \/>\nprofessionalaffairs@aicanada.ca<\/p>\n<p>T You may choose to avoid a difficult conversation, and that is one reason why the Institute created a full-time Counsellor, Professional<br \/>\nPractice position. In the end, the value of a<br \/>\ncomplaint lies in the betterment of the profession;<br \/>\nfor the individual, it is a learning process, and<br \/>\ndiscipline sometimes results. As a professional, I<br \/>\ncan learn from my own mistakes only when they<br \/>\nare brought to my attention, and, as a profession,<br \/>\nwe can improve the education process and identify<br \/>\ntrends when complaints are submitted. We also<br \/>\nlearn from the mistakes of others. In this vein,<br \/>\nreviewing the case summaries and the peer review<br \/>\nsummaries available on the website can be helpful<br \/>\n(http:\/\/www.aicanada.ca\/cmsPage.aspx?id=266).<\/p>\n<p>It is hoped that each time you contemplate<br \/>\n\u201cshould I submit a complaint,\u201d you reflect on<br \/>\nthe ultimate value of that complaint, what you<br \/>\nhope can be achieved and, most importantly,<br \/>\nhow you would react if the complaint were<br \/>\nlodged against you. By proceeding in this<br \/>\ncautious manner, we all benefit and the value of<br \/>\nyour designation is elevated. <\/p>\n<p>\u201cBy proceeding in this<br \/>\ncautious manner, we all <\/p>\n<p>benefit and the value<br \/>\nof your designation is <\/p>\n<p>elevated.\u201d<\/p>\n<p>\u201cThere was also consensus that, before you<br \/>\nproceed with a complaint, professional courtesy <\/p>\n<p>suggests that you contact the member and discuss<br \/>\nthe concerns you might have.\u201d<\/p>\n<p>Professional Affairs<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.aicanada.ca\/cmsPage.aspx?id=266<br \/>\nmailto:professionalaffairs@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 27<\/p>\n<p>Professional practice process<br \/>\nprimarily aims to educate<\/p>\n<p>y way of introduction, Darrell<br \/>\nThorvaldson and I were appointed<br \/>\nCo-Chairs of the Investigating <\/p>\n<p>Committee in June 2009. I have served on the<br \/>\nInvestigating Committee for four years and have<br \/>\nhad the benefit of having been mentored, first<br \/>\nby Dave Gabruch and then John Hutchinson. I<br \/>\nintend to take the experiences gained from these<br \/>\ngentlemen into my new role and I look forward<br \/>\nto working with Darrell and the rest of our<br \/>\ndedicated volunteer investigators. <\/p>\n<p>With over 30 years in the appraisal<br \/>\nprofession, I have found that, by and large, my<br \/>\npeers take great pride in their work and do their<br \/>\nbest to conduct themselves as professionals and<br \/>\nuphold our standards. Still, once our reports leave<br \/>\nour offices, we never know where they may end<br \/>\nup and, certainly, they are subject to scrutiny,<br \/>\nparticularly when a party may not be happy with<br \/>\nthe result. It is important to bear in mind that<br \/>\nanyone can lodge a complaint against us. The<br \/>\nmost common complaints appear to be from<br \/>\nspouses at the short end of a marital settlement,<br \/>\nmortgagors who did not get their mortgages<br \/>\napproved, and lenders who have relied on the<br \/>\nappraisal, but have suffered a loss on their<br \/>\ninvestment. Numerous complaints also seem to<br \/>\ncome from other appraisers. The complainant<br \/>\ndoes not necessarily have to be our client, but<br \/>\nonce a complaint is lodged, it is incumbent upon<br \/>\nus to investigate the matter regardless of its<br \/>\norigin.   <\/p>\n<p>Should a complaint be launched against you,<br \/>\nthat, in itself, does not mean that you have done<br \/>\nanything wrong. While our heart rate undoubt-<br \/>\nedly goes up when we see that letter from the<br \/>\nAppraisal Institute of Canada (AIC), it is impor-<br \/>\ntant to keep your perspective and remember that <\/p>\n<p>Sheldon Rajesky, AACI, P. App., Co-Chair, Investigating Committee<\/p>\n<p>the mandate of the AIC Professional Practice<br \/>\nprocess is, first, to educate our membership,<br \/>\nand, second, to apportion discipline when<br \/>\nnecessary. If you should be the recipient of a<br \/>\ncomplaint, the best advice that I can offer is to<br \/>\nco-operate to the best of your ability with the<br \/>\nInvestigating Committee and allow the process<br \/>\nto run its course. <\/p>\n<p>When a complaint is received by AIC, the<br \/>\nmatter is first reviewed by Robert Patchett, the<br \/>\nCounsellor Professional Practice. If the Counsel-<br \/>\nlor determines that there is no merit to the<br \/>\ncomplaint, the complainant is so notified and<br \/>\nthe file is closed. You would likely be advised of<br \/>\nthe inquiry and offered some advice should the<br \/>\nmatter arise in the future. <\/p>\n<p>In other instances, the Counsellor may<br \/>\ndetermine that there may be some CUSPAP<br \/>\ninfractions, but they are of a relatively minor<br \/>\nnature. In those instances, the matter is referred<br \/>\nto one of our two advocates, Michael Lee or<br \/>\nDoug Rundell. It is the mandate of the advocate<br \/>\nto work with the member toward the goal of<br \/>\nreaching a timely resolution to the complaint.<\/p>\n<p>Finally, the Counsellor may determine that<br \/>\nthe allegations warrant further investigation<br \/>\nfor a variety of reasons. In those instances,<br \/>\nthe file is delegated to a member of the<br \/>\nInvestigating Committee. <\/p>\n<p>If one of your reports is deemed to fall<br \/>\ninto this latter category, in most instances,<br \/>\nyou will be asked to submit a true copy<br \/>\nof your appraisal and a copy of your work<br \/>\nfile. Your work file should be complete and<br \/>\ninclude all documentation from the onset of<br \/>\nthe assignment, including the order form, all<br \/>\nnotes, photographs, and the data relied upon.<br \/>\nNot only is this good business practice, it is <\/p>\n<p>Investigating Committee<br \/>\nSheldon Rajesky, AACI, P. App. \u2013 Co-Chair<br \/>\nDarrell Thorvaldson, AACI, P. App. \u2013 Co-Chair<br \/>\nDoyle Childs, AACI, P. App<br \/>\nGerry Gehlen, AACI, P. App<br \/>\nStan Jugovic, AACI, P. App<br \/>\nMike Schulkowsky, AACI, P. App<br \/>\nTo contact this committee, email:<br \/>\ninvestigating@aicanada.ca<\/p>\n<p>B much easier to remember details and support your position if you have a paper trail. Failure to maintain a proper work file may also find<br \/>\nyou in violation of Ethical Standard Rule 4.2.9.<br \/>\nUpon our review of the data, an investigator<br \/>\nwill likely contact you directly by telephone<br \/>\nor through written correspondence in order<br \/>\nto ask questions which allow the investigator<br \/>\nto best complete his\/her function. Should the<br \/>\ninvestigator determine that the infractions are<br \/>\nserious, sanctions and recovery of our costs<br \/>\nmay be recommended. Of course, you have the<br \/>\noption of having the matter heard before the<br \/>\nAdjudicating Committee, subsequent to which<br \/>\nyou have the right of an Appeal Hearing. <\/p>\n<p>In the end, should AIC members become<br \/>\nthe subject of a complaint, it is best that we<br \/>\nleave our egos at the door and recognize that<br \/>\nwe play an important role in the investigative<br \/>\nprocess. Working co-operatively within this<br \/>\nprocess benefits all of us. Hopefully, we will<br \/>\nall continue striving to uphold ourselves as<br \/>\ntrue professionals, which, in the end, will<br \/>\nmean less time required to complete an<br \/>\ninvestigation and overall promptness in seeing<br \/>\nthe matter to its conclusion.  <\/p>\n<p>Investigating<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:investigating@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada28<\/p>\n<p>Excuses, excuses <\/p>\n<p>revious articles written by members<br \/>\nof the Adjudicating Committee (John<br \/>\nIngram, AACI and Michael Wootton, <\/p>\n<p>AACI) highlighted a number of common issues<br \/>\nin reports arriving before the Adjudicating<br \/>\nCommittee (AC).<\/p>\n<p>For this article, we thought it might be useful<br \/>\nto discuss some of the reasons\/excuses members<br \/>\nbeing investigated have offered to the AC. It may<br \/>\nhelp you to know that we have heard it before<br \/>\nand, better yet, it may help you prevent the errors<br \/>\nwhich led other members to the point where they<br \/>\nneeded to make these excuses.<br \/>\n1. I cannot produce my report or my file <\/p>\n<p>because it was stolen. It is amazing how<br \/>\nmany offices are broken into and the thief<br \/>\nsteals just one file. And there is generally a<br \/>\ncomputer failure about the same time, so<br \/>\nthe report in question cannot be duplicated<br \/>\nelectronically. Keep copies of your reports safe<br \/>\nwith back-up offsite. Lack of a comprehensive<br \/>\nwork file will also hinder any defence in the<br \/>\nevent of an insurance claim.<\/p>\n<p>2. \u201cThe computer\u201d fills in that data<br \/>\nand it (the computer presumably)<br \/>\nwas wrong. Accept it \u2013 you signed the<br \/>\nreport and you are responsible. Check your<br \/>\nreport. Proofreading a report is important,<br \/>\nparticularly for a co-signer.<\/p>\n<p>3. Someone else put my signature on<br \/>\nthe report without my knowledge. It is<br \/>\nyour responsibility to protect your signature,<br \/>\nletterhead, reputation and credibility.<\/p>\n<p>4. My client really needed to get more<br \/>\nmoney for this property. Some of us<br \/>\nthink it is our job to advocate for our client\u2019s<br \/>\nposition. It is not.<\/p>\n<p>5. He\/she no longer works for my<br \/>\ncompany. At least this statement indicates<br \/>\nthat current work product may be better<br \/>\nthan the report(s) in front of the committee. <\/p>\n<p>P<\/p>\n<p>By Pat Cooper, AACI, P. App., Adjudicating Committee Member<br \/>\nAdjudicating<\/p>\n<p>Nonetheless, if you signed the report as the<br \/>\nreview appraiser, you are responsible for the<br \/>\ncontents of that report.<\/p>\n<p>6. They told me the renovations would be<br \/>\ncompleted by the end of the week. There-<br \/>\nfore, I did not point out in the report<br \/>\nthat, on the day I looked at the house,<br \/>\nthere was no carpet or floor covering and<br \/>\nthe windows were not in. If the appraisal is<br \/>\nbased on the improvements being complete,<br \/>\nthen either state that the value is hypothetical<br \/>\nbased on the extraordinary assumption of<br \/>\ncompletion, or make sure the improvements<br \/>\nare complete before you issue the report.<\/p>\n<p>7. The banker who is complaining about<br \/>\nme wanted a high number so he\/she<br \/>\ncould get the deal done. Again, that is<br \/>\nnot your job. If you have clients, be they<br \/>\nbankers, brokers or owners, who push you to<br \/>\nvalues above what you have determined as<br \/>\nappropriate, you should think about cultivat-<br \/>\ning new clientele.<\/p>\n<p>8. The broker did not tell me this bank was<br \/>\ngoing to see the report. Once the report<br \/>\nleaves your hands, you cannot control who<br \/>\ngets it; make sure you are proud of the report<br \/>\nand willing to defend it to anyone.<\/p>\n<p>9. The guy complaining about me is my<br \/>\ncompetitor and he is just full of sour<br \/>\ngrapes. If your report is professionally<br \/>\ncompleted in accordance with CUSPAP, then a<br \/>\ncomplaint based on \u2018sour grapes\u2019 or other bad<br \/>\nfeelings should not result in any harm to you.<br \/>\nThe Appraisal Institute of Canada (AIC) profes-<br \/>\nsional practice process will recognize a frivo-<br \/>\nlous complaint and address it accordingly. The<br \/>\nsame applies if you are confronted by an upset<br \/>\nconsumer, threatened or intimidated with a<br \/>\ncomplaint. In this instance, you should\u00a0provide<br \/>\nthe AIC web link and phone numbers.\u00a0If you<br \/>\nhave provided a quality professional report, <\/p>\n<p>Adjudicating Committee<br \/>\nJohn Ingram, AACI, P. App. \u2013 Chair<br \/>\nPat Cooper, AACI, P. App<br \/>\nPeter Lawrek, AACI, P. App<br \/>\nKenneth Smith, AACI, P. App<br \/>\nMichael Wootton, AACI, P. App<br \/>\nvesa Jarvela, AACI, P. App<br \/>\nTo contact this committee, email<br \/>\nadjudicating@aicanada.ca<\/p>\n<p>the investigation will recognize that and<br \/>\nyou will not find yourself in front of the AC,<br \/>\nparticularly if you have fully cooperated with<br \/>\nthe professional practice committees.<\/p>\n<p>10. I issued the second report because I<br \/>\nmade a mistake in the first one. If you<br \/>\nor your client find an error and you want to<br \/>\ncorrect the error by issuing a revised report,<br \/>\nthen get the original report back. Issue the<br \/>\nrevised report only with a cover letter and<br \/>\na very clear notation on the revised report<br \/>\nthat this second report supersedes the<br \/>\nprior report dated ____, 2009. DO NOT<br \/>\nhave two identical reports with different<br \/>\nconclusions in circulation.<\/p>\n<p>The reasons for a member appearing in front of the<br \/>\nAC are many. The best advice we can give you is to<br \/>\ncooperate \u2013 be open, honest and forthcoming. If<br \/>\nyou are not at fault, we will recognize that. If you<br \/>\nare at fault, tell us what you have done to prevent<br \/>\ncoming before us in the future. The members<br \/>\nof the professional practice committees want<br \/>\nto see our members get better at what they do,<br \/>\nso that members, clients and the general public<br \/>\nwill increasingly learn to respect appraisers and<br \/>\ntheir work. The process of being investigated is<br \/>\nnot pleasant, but it need not be adversarial or<br \/>\ndamaging to your reputation, if you cooperate and<br \/>\nlearn from the experience.  <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:adjudicating@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 29<\/p>\n<p>By Michael Lee, AACI, P. App., Professional Practice Advocate<\/p>\n<p>The Advocate\u2019s role<\/p>\n<p>Anumber of changes have taken place within the Appraisal Institute of Canada (AIC) professional practice<br \/>\nprogram over the past year, one of which was<br \/>\nthe introduction of a new volunteer position<br \/>\nknown as the Professional Practice Advocate.<br \/>\nThere are currently two Advocates \u2013 myself and<br \/>\nDoug Rundell, an AACI who hails from victoria,<br \/>\nBC. Doug brings a great deal of experience to<br \/>\nthis position, as a Past President of the AIC and<br \/>\nBC Assessment\u2019s former CEO and Assessment<br \/>\nCommissioner.<\/p>\n<p>The position of Advocate was created as part<br \/>\nof an ongoing process to improve the interaction<br \/>\nbetween the AIC and its members. The Institute<br \/>\nis looking to create a more fair and open com-<br \/>\nplaint process and subsequent follow through<br \/>\nfor both the complainant and our members. The<br \/>\ngoal is to have the complaint procedure become<br \/>\nmore of a learning process for the members and<br \/>\nbe less punitive. The current mandate for all<br \/>\nthose involved in the complaint procedure is to,<br \/>\nwhenever possible, guide and assist members to<br \/>\nbecome better appraisers. For instance, if a valid<br \/>\ncomplaint is received against a member and this<br \/>\nis the first time a complaint has been lodged<br \/>\nconcerning this particular member, a much more<br \/>\nlenient stand may be taken depending on the<br \/>\nseriousness. However, if the complaint against<br \/>\nthe member is based on an ethical issue or the<br \/>\nmember has been through the process before,<br \/>\nthen the approach to that particular member may<br \/>\nbe much more severe.<\/p>\n<p>All complaints made to the AIC about<br \/>\nmembers go to Robert Patchett, the Counsellor,<br \/>\nProfessional Practice. The Counsellor reviews the<br \/>\ncomplaint and, if he feels it has substance, he will<br \/>\ndeal with the file in one of three ways, depend-<br \/>\ning on the nature and severity of the complaint.<br \/>\nThe Counsellor will either resolve the complaint<br \/>\nhimself, hand the file over to the Advocate, or <\/p>\n<p>refer the file to the Investigating Committee<br \/>\n(IC). The IC will investigate the complaint and,<br \/>\nif the complaint is found to be valid, it will be<br \/>\ndealt with by the chair of the IC or referred to the<br \/>\nAdvocate.<\/p>\n<p>Remember, the AIC does not mediate value<br \/>\nrelated issues. If it is the opinion of the Counsel-<br \/>\nlor, Professional Practice that it is a value related<br \/>\ncomplaint, the Counsellor will outline AIC\u2019s policy<br \/>\nto the complainant and close the file.<\/p>\n<p>When the Advocate reviews the complaint<br \/>\nfile, he can decide that the conduct of the<br \/>\nmember deserves either a Practice Sanction or<br \/>\nConduct Sanction, or that the complaint should<br \/>\nbe dismissed.<\/p>\n<p>Practice Sanctions are designed to deal<br \/>\nwith technical or less serious mistakes. They<br \/>\nare imposed for things such as invalid insur-<br \/>\nance, improper registration in the co-signor<br \/>\nregister, improper registration in the fee\/non-fee<br \/>\ncategory, technical appraisal related errors, and<br \/>\ncertain minor ethical violations. In the case of a<br \/>\nPractice Sanction, the advocate can:<br \/>\n\u2022\t provide\tadvice\tto\tthe\tmember,<br \/>\n\u2022\t direct\tthe\tmember\tto\ttake\taction,<br \/>\n\u2022\t direct\tthe\tmember\tto\tpeer\treview,<br \/>\n\u2022\t direct\tthe\tmember\tto\tattend\tseminars\tor\t<\/p>\n<p>courses,<\/p>\n<p>\u2022\t recommend\tmediation\tbetween\tthe\tcomplain-<br \/>\nant and the member,<\/p>\n<p>\u2022\t impose\ta\tfine,\tand\/or<br \/>\n\u2022\t place\ta\treprimand\ton\tthe\tmember\u2019s\trecord\tin\t<\/p>\n<p>the national professional practice database.<br \/>\nConduct Sanctions deal with more serious issues<br \/>\nand will be imposed for things such as gross<br \/>\nincompetence, multiple complaints, serious viola-<br \/>\ntions, ethical violations, non-cooperation and<br \/>\nimproper submission of a complaint. In the case<br \/>\nof a Conduct Sanction, the Advocate can recom-<br \/>\nmend any of the Practice Sanctions, and any one<br \/>\nor more of the following:<br \/>\n\u2022\t censure,<br \/>\n\u2022\t suspension,\tor<br \/>\n\u2022\t expulsion.<br \/>\nOver the past year, the files Doug and I have<br \/>\nreviewed have been dealt with by varied means,<br \/>\nranging from closing the file to suspension. When<br \/>\nwe receive a file, we will review the background<br \/>\ncomments and recommendations that we have<br \/>\nreceived from either the Counsellor, Professional<br \/>\nPractice or the investigator from the IC. Following<br \/>\nthe file review, we will contact the member and<br \/>\ndiscuss the problem. We have been able to resolve<br \/>\na number of files this way, often bypassing the<br \/>\ntime-consuming and stressful necessity for the<br \/>\nmember to appear before an Adjudicating Hearing.<br \/>\nUnfortunately, not all files have been settled to<br \/>\nthe mutual satisfaction of both parties and Doug<br \/>\nand I have files that will appear before the AC. In<br \/>\nspite of this, I think that, generally speaking, AIC\u2019s<br \/>\nprofessional practice program is taking positive<br \/>\naction toward a process that will be much more<br \/>\neducational than punitive. <\/p>\n<p>Advocacy<\/p>\n<p>\u201cThe Institute is looking<br \/>\nto create a more fair<br \/>\nand open complaint <\/p>\n<p>process and subsequent<br \/>\nfollow through for both <\/p>\n<p>the complainant and<br \/>\nour members.\u201d<\/p>\n<p>Professional Practice Advocates<br \/>\nMichael Lee, AACI, P. App.<br \/>\nDoug Rundell, AACI, P. App., Fellow<br \/>\nadvocate@aicanada.ca<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:advocate@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada30<\/p>\n<p>Inside the mind of a peer reviewer<\/p>\n<p>he Appraisal Institute of Canada (AIC)<br \/>\nPeer Review Pilot Project began in 2008,<br \/>\nand was limited to review of residential <\/p>\n<p>appraisals. Now extended to December 2011, it is<br \/>\nexpanding to include commercial appraisals.<\/p>\n<p>Most of us are familiar with the peer review<br \/>\nprocess for academic papers, but how does peer<br \/>\nreview work for appraisers?<\/p>\n<p>Peer Review is \u201ca system using reviewers<br \/>\nwho are professional equals; a process used for<br \/>\nchecking the work performed by one\u2019s equals<br \/>\n(peers) to ensure it meets specific criteria.\u201d In<br \/>\nthe case of appraisers, the specific criteria are<br \/>\nfound in The Appraisal Standard of CUSPAP (The<br \/>\nCanadian Uniform Standards of Professional<br \/>\nAppraisal Practice.) The goals of peer review<br \/>\nare \u201cto verify whether the work satisfied<br \/>\nthe specifications for review, to identify any<br \/>\ndeviations from the standards, and to provide<br \/>\nsuggestions for improvements.\u201d<br \/>\nThe first definition was posted on a continuing<br \/>\nmedical education website, and the second on a<br \/>\nsoftware quality site \u2013 demonstrating that peer<br \/>\nreview is practiced in a variety of professions.<\/p>\n<p>AIC Peer Review is educationally based,<br \/>\nintended to provide members with constructive<br \/>\ncriticism in a safe learning environment,  and<br \/>\nis completely independent from professional<br \/>\npractice investigation and the mandatory<br \/>\ninsurance program. Professional practice<br \/>\ncommittees may refer a complaint to Peer<br \/>\nReview if no conduct sanction is warranted.<br \/>\nA member consenting to Peer Review can be<br \/>\nconfident that the review will not be part of the<br \/>\nprofessional practice investigation record.  <\/p>\n<p>The member will receive a written critique of<br \/>\nthe appraisal report, along with suggestions for<br \/>\navoiding such problems in the future, and will<br \/>\nhave the opportunity to discuss the report and<br \/>\nsubsequent review with the peer reviewer.<\/p>\n<p>A reviewer may suggest further training, an <\/p>\n<p>T<\/p>\n<p>By Anne Clayton, MBA, AACI, P. App., Residential Peer Reviewer<\/p>\n<p>article or book that may be helpful, or changes<br \/>\nto the member\u2019s practice in terms of research or<br \/>\ndata verification.<\/p>\n<p>How does AIC ensure<br \/>\nconsistency in the review process?<br \/>\nPotential reviewers complete UBC CPD 115<br \/>\nAppraisal Review, write a one-page memo<br \/>\noutlining their reasons for volunteering, provide<br \/>\na work product sample, and participate in a<br \/>\none-day training session. Reviews are conducted<br \/>\non standard forms \u2013 a comprehensive checklist<br \/>\nfor CUSPAP compliance, format and presentation,<br \/>\nand an executive summary describing each issue,<br \/>\nexplaining repercussions, and describing ways<br \/>\nto avoid the problem. Reviewers are guided by a<br \/>\nPeer Review Manual and Peer Review Guidelines.<\/p>\n<p>So, what is the mindset of peer reviewers?<br \/>\nWhy would they volunteer? And how do they<br \/>\nsee the process?<\/p>\n<p>Personally, I volunteered because I see<br \/>\nit as a way I can work with and encourage<br \/>\nother members, while continuing to keep my<br \/>\nown skills sharp. Being a sole practitioner, it is<br \/>\nimportant for me to keep current, and I see the<br \/>\npeer review function as both a teaching and a<br \/>\nlearning experience. Reviews I have completed<br \/>\nhave reinforced the need to verify information,<br \/>\ncheck for consistency, accuracy and logic,<br \/>\nand make sure appraisal software is CUSPAP-<br \/>\ncompliant. I review my own reports more<br \/>\ncarefully now.<\/p>\n<p>Reviewer Stan Katchen, AACI, P. App., offers<br \/>\nthe following insights:<\/p>\n<p>\u201cThis is a service which has been a long time<br \/>\ncoming, and should help members to better<br \/>\nrepresent themselves and their practices. If you<br \/>\nhave trouble explaining your report to a peer,<br \/>\nwho understands appraisal theory and practice,<br \/>\nyou will probably have trouble explaining it to a<br \/>\nclient or the \u2018other side\u2019 in litigation.\u201d<\/p>\n<p>Adhoc Committee on Peer review<br \/>\nLinda Hastings, AACI, P. App. \u2013 Chair<br \/>\nMike Garcelon, AACI, P. App<br \/>\nCherie Gaudet, CRA<br \/>\nGerald McCoombs, AACI, P. App<br \/>\nBob Stewart, AACI, P. App<br \/>\nGreg Bennett, AACI, P. App<br \/>\nTo contact this committee, email:<br \/>\npeerreview@aicanada.ca<\/p>\n<p>Stan sees the peer reviewer\u2019s job as \u201chelping<br \/>\nyou take that little extra time to get it right in<br \/>\nthe future, so that, even though there may be<br \/>\nquestions and irate clients, the member will be<br \/>\nable to logically explain the actions taken and<br \/>\nconclusions reached.\u201d<\/p>\n<p>Linda Hastings, AACI, P. App., Chair of the<br \/>\nPeer Review Pilot Committee, has experienced<br \/>\nboth sides of the peer review program offered<br \/>\nby the BC association. She submitted a<br \/>\ncomplex report for review and incorporated the<br \/>\nreviewer\u2019s suggestions in subsequent reports.<br \/>\nAs a reviewer herself, Linda reviewed residential<br \/>\nreports for an appraiser who was employed by<br \/>\nan appraisal company, but \u201cwanted a third set<br \/>\nof eyes to review her work.\u201d Linda describes it as<br \/>\n\u201ca sharing of ideas\u201d \u2013 discussing the review by<br \/>\nphone and email.<\/p>\n<p>In conclusion, the mindset of the peer<br \/>\nreviewer is to review the report, rather than the<br \/>\nappraiser; to critique, not criticize; to encourage<br \/>\na two-way learning process.  <\/p>\n<p>End notes<br \/>\n1  http:\/\/cme.med.nyu.edu\/files\/libra\/<\/p>\n<p>u4\/1001_776_Glossary_of_Terms  2009-07-08<br \/>\n2  http:\/\/searchsoftwarequality.techtarget.com\/<\/p>\n<p>sDefinition\/  2009-07-08<br \/>\n3  Peer Review Guidelines, Appraisal Institute of <\/p>\n<p>Canada, Ottawa, Ontario, June 9, 2009 p.2<\/p>\n<p>Peer Review<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/cme.med.nyu.edu\/files\/libra\/<br \/>\nhttp:\/\/searchsoftwarequality.techtarget.com\/<br \/>\nmailto:peerreview@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 31<\/p>\n<p>or as long as I can remember in the<br \/>\nresidential fee appraisal field, there has<br \/>\nbeen an urban myth that the vast majority <\/p>\n<p>of work we do will dry up and fade away. First,<br \/>\nit was because of the dreaded Automated valu-<br \/>\nation Models (AvMs), those mathematical risk<br \/>\nmanagement computer programs that lenders use<br \/>\nas a way to cut costs and increase efficiencies by<br \/>\nreducing the requirements for a full appraisal. The<br \/>\nAvMs have been around for a few years, yet most<br \/>\nresidential appraisers are still doing the simple<br \/>\nmortgage appraisal. They may not be doing as<br \/>\nmany today as in the past, however, when apprais-<br \/>\ners receive calls for them, they are typically for diffi-<br \/>\ncult properties that do not fit the AvM parameters.<br \/>\nMaybe it is time to reconsider your fees.<\/p>\n<p>Move forward a few years and we see the<br \/>\narrival of the Appraisal Management Company<br \/>\n(AMC) in the Canadian marketplace. What have<br \/>\nthey done to your business besides add pressure to<br \/>\nlower fees and establish how quickly the appraisal<br \/>\nmust be done? Is there still value in maintaining<br \/>\nyour relationship with your local banker or mort-<br \/>\ngage broker? Why have we given up contact with<br \/>\nthese people after already spending considerable<br \/>\neffort in building a relationship? <\/p>\n<p>For the most part, the lenders prefer working<br \/>\nwith the AMCs because they have one point of con-<br \/>\ntact for all of their appraisal requirements and they<br \/>\nhave to write only one monthly cheque. Despite<br \/>\nthis, many lenders still have the option of choosing<br \/>\nwhich appraiser is selected for the assignment.<\/p>\n<p>So, what can a CRA do? Well, there are more<br \/>\nopportunities out there than most of us can imag-<br \/>\nine. This article explores a few of the existing oppor-<br \/>\ntunities for appraisal services that a CRA can provide;<br \/>\nall of which are within your scope of practice.<br \/>\n\u2022\t Estate\tsettlement\tservices<br \/>\nIt is a fact of life that we will all die. If we own a<br \/>\nproperty when this happens, it becomes part of<br \/>\nthe estate. As such, its value must be determined <\/p>\n<p>and guess who gets to determine that value? A CRA<br \/>\ndoes. As they get older, many seniors do tax plan-<br \/>\nning to prepare for their eventual death. Lawyers<br \/>\nand financial planners are both good contacts<br \/>\nfor this type of work. The lawyers and financial<br \/>\nplanners as well as accountants may be able to send<br \/>\nwork your way in situations relating to capital gains<br \/>\ntaxes in an estate or an estate freeze.<br \/>\n\u2022\t Family\tlaw\t\u2013\tmarriage\tand\tdivorce<br \/>\nMany appraisers I know do extensive work for<br \/>\ndivorce lawyers. When couples split, they either sell<br \/>\nthe property or one side buys out the other. Partner-<br \/>\nship splits are very similar to divorces. Second mar-<br \/>\nriages frequently have marriage or co-habitation<br \/>\nagreements. These situations often call for an up<br \/>\nfront appraisal before the marriage or partnership<br \/>\ntakes place, if one or both parties own property. It is<br \/>\nmuch easier to arrive at a current market value than<br \/>\na retrospective valuation from 10 or more years ago.<br \/>\nAfter testifying in court to assist a judge in under-<br \/>\nstanding the valuation, you may decide you enjoy<br \/>\nthe role and status of being an expert witness.<br \/>\n\u2022\t Relocation<br \/>\nEmployee relocation benefits often include<br \/>\nguarantees for home sales. These require a valuation<br \/>\nand are another good source of business although,<br \/>\nadmittedly, there is more opportunity for this in<br \/>\nlarge urban centres where government employees<br \/>\nand major employers are located. Make contact<br \/>\nwith the relocation companies that manage these<br \/>\nbenefits for employers. It is also more likely that you<br \/>\nwill do this type of work if you get placed on a list of<br \/>\nappraisers through federal or provincial service sites<br \/>\nsuch as MERX.<br \/>\n\u2022\t Property\ttax\tassessment<br \/>\nAssessment appeals can also be a steady stream of<br \/>\nspecialized work. This may be more true today in a<br \/>\ndeclining market, where assessed values are at the<br \/>\nhigh-water value mark of last year for property tax<br \/>\npurposes. Study and learn about the assessment<br \/>\nappeal process and add this to your list of services.<\/p>\n<p>By Edward Saxe, CRA, Chair CRA Focus<\/p>\n<p>Expanding your CRA \u2018book of business\u2019<\/p>\n<p>F<\/p>\n<p>CRA Focus<\/p>\n<p>CrA Focus<br \/>\nEd Saxe, CRA \u2013 Chair<br \/>\nBrad Fast, CRA<br \/>\nDianna LeBreton, CRA<br \/>\nHerbert Jaques, CRA<br \/>\nPeter Atkinson, CRA<br \/>\nSandro Mavica, CRA<br \/>\nTony Miraglia, CRA<br \/>\nLorne Mikulik, AACI, P.App<br \/>\nTo contact this committee email:<br \/>\ncrafocus@aicanada.ca<\/p>\n<p>\u2022\t Valuation\tfor\tinsurance<br \/>\n Have you thought of partnering with a high-end<br \/>\ncustom home builder? Determine the cost of con-<br \/>\nstruction and high-value features included in luxury<br \/>\nhomes to get a handle on costing these properties.<br \/>\nWhile Marshall &#038; Swift is helpful, this must be tem-<br \/>\npered with local contractor rates. This requires a spe-<br \/>\ncialized knowledge of the cost approach applicable<br \/>\nfor new construction. This is also an opportunity for<br \/>\nrepeat business. Speak with insurance brokers about<br \/>\ntheir property valuation requirements.<br \/>\n\u2022\t Bankruptcies<br \/>\nIn these current economic times, bankruptcies<br \/>\nare on the rise. Establish a relationship with the<br \/>\nbankruptcy trustees in your area. They always need<br \/>\nthe services of an appraiser. In some provinces, the<br \/>\ncourts have held that only AACI or CRA designated<br \/>\nappraisers may perform this service.<\/p>\n<p>The opportunities are only limited by your<br \/>\nimagination. It is time to stop competing with com-<br \/>\nmercial appraisers for commercial assignments, and<br \/>\ntime to expand and specialize within an established<br \/>\nand highly regarded residential designation, the<br \/>\nCRA. Remember that all of this work allows for<br \/>\nhigher fees than regular mortgage work and,<br \/>\ngenerally, the time to complete an assignment will<br \/>\nnot be 24 hours. Do not be afraid to expand outside<br \/>\nyour current sandbox.   <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:crafocus@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada32<\/p>\n<p>t first blush, it is difficult to distinguish the<br \/>\ndifference between the individual and<br \/>\nthe post he or she occupies. My goal is <\/p>\n<p>not to talk about myself and the skills that I bring to<br \/>\nthe post, as well as what I have learned since join-<br \/>\ning the Appraisal Institute of Canada (AIC) in 2005;<br \/>\nrather, I would prefer to have an objective discus-<br \/>\nsion about why the post of Counsellor, Professional<br \/>\nPractice matters to you.<\/p>\n<p>The post has been in existence even before<br \/>\nthe AIC office moved from Winnipeg to Ottawa.<br \/>\nThe incumbent is assigned responsibilities<br \/>\nto receive complaints and to support the<br \/>\nadministration of the professional practice<br \/>\ncommittees. This single focal point provides a <\/p>\n<p>Why I matter<\/p>\n<p>A venue for consumers to contact the AIC to inquire about appraisal standards, appropriate conduct and other matters of concern. The Counsellor<br \/>\nprovides advice to the consumer on how to<br \/>\naddress concerns with the member, and on the<br \/>\nlimits of what the Institute could do to assist him<br \/>\nor her in achieving a resolution. Not every inquiry<br \/>\nleads to a formal complaint. In fact, formal<br \/>\ncomplaints were reduced by almost 50% per year<br \/>\nwith the advent of a full-time Counsellor.  <\/p>\n<p>This dialogue also extends to AIC members.<br \/>\nThe Counsellor works with the consumer and the<br \/>\nappraiser to defuse intractable positions, to find a<br \/>\ncommon ground and to resolve issues. Members<br \/>\ncan, should, and many do contact the Counsel-<\/p>\n<p>Robert Patchett<br \/>\nLL.B, CD, AIC Counsellor, <\/p>\n<p>Professional Practice<\/p>\n<p>lor for advice and guidance on how to deal with<br \/>\ndifficult situations. All of this has had the dramatic<br \/>\neffect of reducing formal complaints and raising<br \/>\nthe level of professionalism and public confidence<br \/>\nin the Institute\u2019s capacity to regulate its member-<br \/>\nship in a fair and consistent manner. <\/p>\n<p>This reduction is also attributable to the time<br \/>\ndevoted to listening to the concerns of a consumer<br \/>\nand the advice offered. Quite often, this time<br \/>\nand effort invested by the Counsellor steers the<br \/>\nconsumer in another direction to find a resolu-<br \/>\ntion. Let\u2019s consider one topical example: I have<br \/>\nbeen receiving inquires about the fact that values<br \/>\nreported by appraisers are decreasing compared<br \/>\nto previous appraisals. While a discussion about<br \/>\nthe economic conditions and factors ensues,<br \/>\nit focuses on who and why the appraisal was<br \/>\nordered. Without doubt, lenders and mortgage<br \/>\nbrokers will lay the blame for a mortgage denial<br \/>\nsquarely at the feet of the appraiser in order to<br \/>\ndeflect the responsibility for their decision. My role<br \/>\nhas been to turn that around in order to encourage<br \/>\nthe consumer to obtain a second opinion from a<br \/>\ncompetent local appraiser or to educate them that,<br \/>\nperhaps, it was something in the report provided<br \/>\nby the appraisal management company (AMC)<br \/>\nand not the appraisal report that led to the denial.<br \/>\nTypically, consumers are not aware that the lenders<br \/>\nreceive a separate report from the AMC or that,<br \/>\nperhaps, the AMC sent someone from out of town<br \/>\nor in-house who lacks geographic competence in<br \/>\ntheir community.  <\/p>\n<p>It is only through awareness of current issues<br \/>\naffecting the profession, knowledge of appraisal<br \/>\nstandards and industry best practices that the<br \/>\neffectiveness of the Counsellor position is best<br \/>\nachieved. By providing a single point of contact for<br \/>\nboth the consumer and the member, the Institute<br \/>\nhas achieved a synergy of action that matters to<br \/>\nthe public and everyone affected. <\/p>\n<p>From the Counsellor\u2019s Desk<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"7KeJIN9I5G\"><p><a href=\"https:\/\/crvg.com\/\">CRVG Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;CRVG Home&#8221; &#8212; CRVG - Canadian Resource Valuation Group\" src=\"https:\/\/crvg.com\/embed\/#?secret=CrTu00G7he#?secret=7KeJIN9I5G\" data-secret=\"7KeJIN9I5G\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 33<\/p>\n<p>hen the economy is full speed<br \/>\nahead, the last thing we need <\/p>\n<p>is to seek out more clients; heck,<br \/>\nwe can\u2019t get the work completed we have already<br \/>\ncommitted to. But, softer economic periods give us<br \/>\nthe opportunity to lift our heads from our regular<br \/>\nworkload, to examine our business practices, and to<br \/>\nevaluate how we position ourselves with our clients<br \/>\nand our employers.<\/p>\n<p>Promotion used to be so simple\u2026 hang a<br \/>\nshingle, place an ad in the Yellow Pages, give the<br \/>\nlocal newspaper a call and voila! Our target market<br \/>\nwas covered. Today, this is no longer true. Our<br \/>\nclients have changed both the way they look for<br \/>\nsolution providers and the way they seek profes-<br \/>\nsional advice. Our public is more sophisticated, and<br \/>\nwe are more sophisticated. Do we look the part?<\/p>\n<p>Today, we can cover many of our bases by mar-<br \/>\nketing and communicating with a website. This cer-<br \/>\ntainly is not news, but perhaps it is time to take a look<br \/>\nat what your website is doing for you. So, depending<br \/>\non where you are in the lifecycle of a website, i.e.,<br \/>\ndeveloping a new site or redeveloping an existing<br \/>\none, a first approach is to look at websites of your col-<br \/>\nleagues and other professionals, such as accountants,<br \/>\nengineers and lawyers. You will find great ideas that<br \/>\nwill help when choosing your website design.<\/p>\n<p>While looking at other sites, it is well worth<br \/>\nyour time to go to www.aicanada.ca. By now, most<br \/>\nmembers have been on our new website launched<br \/>\nin November 2008. This site is leaps and bounds<br \/>\nahead of what we had previously. Our new AIC<br \/>\nwebsite is impressive, eye-catching and appealing to<br \/>\nweb-savvy types. It combines attractive visuals with<br \/>\nquality data and information.  <\/p>\n<p>What type of site best meets your business<br \/>\nmodel? Does an interactive site with the ability<br \/>\nfor clients to order an appraisal online work best<br \/>\nfor you, or is a brochure-like site leading clients to<br \/>\nfollow up with face-to-face meetings or telephone<br \/>\ncontact a better fit?<\/p>\n<p>By Beverley Girvan, AACI, P. App., Chair, Marketing &#038; Communications Committee<\/p>\n<p>Your clients are online \u2013 are you?<\/p>\n<p>W<\/p>\n<p>Marketing and<br \/>\nCommunications Committee<br \/>\nBeverley Girvan, AACI, P. App. \u2013 Chair<br \/>\nGlen Power, AACI, P. App<br \/>\nTom Fox, AACI, P. App<br \/>\nLaura Kemp, Candidate<br \/>\nDavid Babineau, AACI, P. App<br \/>\nTo contact this committee email:<br \/>\ncommunications@aicanada.ca<\/p>\n<p>An easily navigable website is paramount if<br \/>\nyou wish to engage visitors long enough for them<br \/>\nto gather the required facts and enthusiasm that<br \/>\nwill motivate them to contact you and eventually<br \/>\nestablish a contract to employ your expertise.<\/p>\n<p>These days, to a large extent, the importance<br \/>\nof the sound of your voice and your demeanor<br \/>\non the telephone or in a face-to-face meeting is<br \/>\nbeing replaced with how you present yourself,<br \/>\nyour talents and your firm online. The first point<br \/>\nof contact is no longer the person who picks up<br \/>\nthe telephone in your office.<\/p>\n<p>Your website is your most important promo-<br \/>\ntional tool to reach your audience. Therefore, the<br \/>\ndevelopment and design is immensely important<br \/>\nin your portrayal. While recognizing that many<br \/>\nof our members have expertise beyond valuation<br \/>\nwork, it still holds true that most of us are best<br \/>\nserved by hiring a professional web designer<br \/>\nto achieve the results we are looking for and to<br \/>\npresent us in the optimum light.<\/p>\n<p>Web design specialists will take your initial<br \/>\nideas and transform them into reality, or, if you<br \/>\nare shy on vision, they will create a prototype<br \/>\nso that you can offer input and critique it prior<br \/>\nto the launch of the finished product. Also, they<br \/>\ncan maximize your web presence with effective<br \/>\nuse of search criteria. This point is key. The best<br \/>\nlooking website in the world is not very effective<br \/>\nif search engines fail to find it.<\/p>\n<p>Another benefit offered by websites is that <\/p>\n<p>tracking the effectiveness of the site is possible<br \/>\nwith the use of analytics. Analytics can measure<br \/>\nyour marketing effectiveness and monitor traffic to<br \/>\nyour site, which will enable you to strengthen your<br \/>\nmarketing initiatives and create target ads.<\/p>\n<p>Your website is an open book permitting you<br \/>\nto network and reach the largest client base. So, it<br \/>\nis a high priority to keep your contact information<br \/>\nlisted on your website current. While this seems<br \/>\na bit of a no-brainer, it is amazing how quickly<br \/>\nthe information you include can become stale<br \/>\nor dated. An additional benefit to linking with a<br \/>\nprofessional web designer is that they often take<br \/>\ncare of these types of maintenance issues.<\/p>\n<p>You will recall that part of the offering of the<br \/>\nmarketing toolkit proposal from AIC is to assist<br \/>\nmembers in creating a web presence. While we<br \/>\nmove this project along, we are currently work-<br \/>\ning with two individuals as case studies. This<br \/>\nwill result in an opportunity for those looking to<br \/>\npiggyback on the design work we have created on<br \/>\nthe AIC site. While this will not provide a custom<br \/>\nwebsite, it will allow members to achieve online<br \/>\nvisibility. This initiative was created because AIC<br \/>\nrecognizes the need for all members to better<br \/>\npromote themselves in all market environments.<\/p>\n<p>While \u201clocation, location, location\u201d histori-<br \/>\ncally rolled off the tongues of valuation experts,<br \/>\nwe now need to focus on \u2018promotion, promo-<br \/>\ntion, promotion.\u2019  <\/p>\n<p>\u201cOur clients have changed<br \/>\nboth the way they look<br \/>\nfor solution providers<br \/>\nand the way they seek<br \/>\nprofessional advice.\u201d<\/p>\n<p>Marketing and Communications<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"vKJ80UZHuy\"><p><a href=\"https:\/\/www.aicanada.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Appraisal Institute of Canada\" src=\"https:\/\/www.aicanada.ca\/embed\/#?secret=QMIFP9dkgq#?secret=vKJ80UZHuy\" data-secret=\"vKJ80UZHuy\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nmailto:communications@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada34<\/p>\n<p>roubled economic times generally mean<br \/>\ntroubled real estate times, and troubled<br \/>\nreal estate times usually mean troubled <\/p>\n<p>times for vendors and, perhaps, not so troubled<br \/>\ntimes for purchasers. For appraisers, the timing<br \/>\nmay be neutral (or even positive, if there are<br \/>\nmany appraisals required), but one thing<br \/>\nappraisers must always keep in mind is the<br \/>\nissue of timing.<\/p>\n<p>Timing is everything in life we are told, or<br \/>\nmostly everything, but, in the world of real<br \/>\nestate, timing is only secondary to the old maxim<br \/>\nof \u2018location, location, location.\u2019 Principally, timing<br \/>\nin an appraisal relates to two central concerns:<\/p>\n<p>1) exposure to the marketplace leading to a<br \/>\nlease or sale at market value; and,<\/p>\n<p>2) timing of comparables for purposes of<br \/>\nevaluating present values.<\/p>\n<p>It has been said in many contexts that<br \/>\nappraising property is an art, as opposed to a<br \/>\nscience. How then is this art form best expressed<br \/>\nwhen dealing with the timing issues relating to<br \/>\nappraisals?<\/p>\n<p>A fluctuating marketplace means that it is<br \/>\ndifficult to ascertain the proper time for comput-<br \/>\ning sale exposures. What would have taken 30<br \/>\ndays to sell in a soft market may take consider-<br \/>\nably longer in a hard market. But, there are<br \/>\nexceptions to this rule. Some properties sell well <\/p>\n<p>no matter what the economic circumstances,<br \/>\ne.g., well-located property, property with certain<br \/>\ncommercial draws, property being assembled for<br \/>\ndevelopment, etc.<\/p>\n<p>How can you then determine the correct<br \/>\ntime for market exposure? Ultimately, there is<br \/>\nno formula, no perfect rationale, no set under-<br \/>\nstanding. You must use your judgement, but you<br \/>\nmust also take steps to show how and what you<br \/>\nconsidered in arriving at that determination. How<br \/>\ndo you do that?  <\/p>\n<p>First, it might be appropriate to explain to<br \/>\nyourself how you arrived at a market exposure<br \/>\ntime. Did you compare MLS listings to see how<br \/>\nlong comparable sales took to sell? Did you come<br \/>\nto an average conclusion for a given area? Did<br \/>\nyou look at prices across a given area to see how<br \/>\nquickly sales were progressing? Did you ask a<br \/>\nrealtor or several realtors for their view? If you<br \/>\nused all or any of these methods, did you make a<br \/>\nnote for your file on what you did, when you did<br \/>\nit, and the result of your study?  <\/p>\n<p>In commercial properties the hunt may prove<br \/>\neven more difficult as sales are often not as<br \/>\nfrequent and comparisons more difficult. Still,<br \/>\nsome evidence should be in your file of how you<br \/>\narrived at your conclusion, so as to be able to<br \/>\ndemonstrate a rationale for exposure time.  <\/p>\n<p>The same goes for leasing. If your figures <\/p>\n<p>come from some months ago, are they appropri-<br \/>\nate given the state of the economy? What about<br \/>\nthe season? What if there is some unforeseen<br \/>\ncircumstance particular to your area, e.g., the<br \/>\nclosing of the local source of employment. A mill<br \/>\ntown that loses its mill usually suffers on every<br \/>\naccount. Do property values correlate to this? If<br \/>\nthey don\u2019t today, will they in a month?<\/p>\n<p>What about your comparables \u2013 how do they<br \/>\nhold up over time? Using comparables over the<br \/>\npast 90 days may be impossible if there are few<br \/>\nto no sales. Your choice then is to adjust up or<br \/>\ndown on properties that have some semblance of<br \/>\nrelevance, or to adjust the sales that you could find<br \/>\nto meet with current market conditions. Again,<br \/>\nthe methodology is up to you, but you must keep<br \/>\nsome record or proof of how you arrived at the<br \/>\nresult you obtained. Nothing hurts the credibility<br \/>\nof an appraiser more than aged comparables that<br \/>\ndo not relate to a current market.  <\/p>\n<p>Because these issues are left to your judge-<br \/>\nment, you must be able to explain the rationale<br \/>\nto your judgement. Many appraisers spend too<br \/>\nlittle time developing a rationale to meet the<br \/>\nmarket conditions that exist at the time of their<br \/>\nappraisals. As well, few go to the effort of relating<br \/>\neconomic situations to their reports in a manner<br \/>\nthat provides sufficient caution to those who seek<br \/>\nto rely upon their reports. Tough times may call<br \/>\nfor extended periods of exposure, or of listing or<br \/>\nlessened prices as noted in an appraisal report.<\/p>\n<p>Ultimately, the consumer of your report<br \/>\nshould understand the difficulties of sale in<br \/>\ndistressed markets. Your appraisal should prepare<br \/>\nthem for that fact, not what the market was<br \/>\nmonths ago, nor an optimistic view of what<br \/>\nmay come. A proper conception of timing in<br \/>\nyour report will ideally keep you from wasting<br \/>\ntime defending your appraisal in court, however,<br \/>\nproper, reasoned judgement will surely provide a<br \/>\ngood solid defence to any claim. <\/p>\n<p>Legal news &#038; VIews<\/p>\n<p>T<br \/>\nKeeping track of timing<\/p>\n<p>By Mark R. Frederick, LL.B., Miller Thomson LLP<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>www.standardlife.ca<\/p>\n<p>Best valuation practice<br \/>\nOne of the objectives of World Association of<br \/>\nvaluation Organizations (WAvO) is to support<br \/>\nthe consistent application of valuation standards,<br \/>\nmethodologies and practice; to set criteria for<br \/>\neducational standards; and to raise the profes-<br \/>\nsional work of valuers. As part of our move to<br \/>\nencourage practising valuers to apply consistent<br \/>\npractices, the WAvO Board has decided to launch<br \/>\nits first ever book compiling the best valuation<br \/>\npractices in the world. Please let WAvO know if<br \/>\nyou wish to contribute by contacting AIC\u2019s WAvO<br \/>\nrepresentative Keith Goodwin.<\/p>\n<p>Best valuation report<br \/>\nAs part of our move to encourage students<br \/>\nundertaking a real estate program to be involved<br \/>\nat an early stage, and to identify themselves<br \/>\nwith the valuation profession, the WAvO Board<br \/>\nhas decided to host a yearly competition for <\/p>\n<p>World Association of<br \/>\nValuation Organizations update<\/p>\n<p>The INTERNATIONAL sCene<\/p>\n<p>the WAvO Best valuation Report Awards. This<br \/>\ncompetition is open to all students undertaking<br \/>\nthe valuation course. You may also obtain infor-<br \/>\nmation of the awards from the WAvO website:<br \/>\nwww.wavoglobal.org. There are six award<br \/>\ncategories corresponding to different property<br \/>\ntypes. The winner of the award for each category<br \/>\nwill be given a prize of US$2,000.<\/p>\n<p>WAVO list of experts<br \/>\nWAvO has often been asked to supply a list of<br \/>\nexperts in the various valuation fields who can<br \/>\noffer consultancy services. If you are an expert in<br \/>\nany valuation fields, please let us know so that<br \/>\nwe can add you to our panel of experts. <\/p>\n<p>WAVO endorsed<br \/>\ncourses or workshops<br \/>\nTo assist developing economies in building their<br \/>\nvaluation capacity, WAvO regularly conducts <\/p>\n<p>workshops and courses for people in these coun-<br \/>\ntries who require the relevant training. WAvO is<br \/>\ninterested in hearing about any relevant training<br \/>\ncourses. The instructor will be compensated<br \/>\naccordingly.<\/p>\n<p>4th WAVO Valuation Congress<br \/>\nin People\u2019s Republic of China<br \/>\nWAvO will be hosting its 4th WAvO valuation<br \/>\nCongress from November 23-26, 2009 in Guilin<br \/>\nWaterfall Hotel. The theme of the congress<br \/>\nis Financial Market Security and the Valuation<br \/>\nProfession. AIC members are welcome to<br \/>\nattend or speak at this congress. Details of this<br \/>\ncongress are available at the website<br \/>\nwww.wavoglobal.org <\/p>\n<p>For further information, contact AIC\u2019s<br \/>\nWAvO representative Keith Goodwin at<br \/>\nkgoodwin.anw@telus.net<\/p>\n<p>Join the Appraisal Institute of Canada, Co-Chairs Leonard Sherwood, AACI, and Gordon Cavanaugh, CRA, as<br \/>\nwell as the organizing committee members in June 2010 for AIC\u2019s annual conference in Victoria, British Columbia at<br \/>\nthe Fairmont Empress Hotel. The conference opens with a welcome reception on Wednesday, June 2. The educational<br \/>\nand companion programs begin on Thursday, June 3 with our opening ceremonies and end on June 5 with our<br \/>\nPresident\u2019s Banquet. <\/p>\n<p>The conference theme Green and Global in the Garden City will provide a stimulating and interactive<br \/>\nplatform for learning how we can aid and enhance the only world we will ever have. How can we change things?<br \/>\nWhat effect does all of this have on value? Do people care enough to spend their money on effecting change? Is<br \/>\nthere a green dividend that might finally be reflecting itself in changes in market values for properties that are<br \/>\nsocially responsible? As appraisers and consultants, are we seeing these green dividends, but not realizing what we<br \/>\nare seeing?<\/p>\n<p>What about the remainder of the international appraisal community? Is our ever-shrinking electronic world<br \/>\ncoming together in recognizing fundamental valuation principles that we should be universally incorporating into our<br \/>\nadvice and reports? Does our own social responsibility require us to recognize the synergy between environmental<br \/>\nconsciousness and global symmetry in appraisal analysis and reporting? <\/p>\n<p>AIC 2010 \u2013 SAVE THE DATE!<br \/>\nANNUAL CONFERENCE OF THE APPRAISAL INSTITUTE OF CANADA<\/p>\n<p>Victoria, British Columbia, Fairmont Empress Hotel June 2 &#8211; 5, 2010<\/p>\n<p>Come to Victoria next<br \/>\nyear. Let us explore all of<br \/>\nthese provocative issues,<br \/>\nhave a drink together<br \/>\nalong the causeway, and<br \/>\nwatch the sunset that<br \/>\nhas a redder tinge now<br \/>\nthan a century ago. These<br \/>\nconcerns are not trivial.<br \/>\nThey are revolutionary.<br \/>\nThey are now!<\/p>\n<p>Mark the dates on your calendar. Book your hotel room now by visiting: http:\/\/www.aicanada.ca\/cmsPage.aspx?id=230 or call the hotel at 1-800-441-1414<br \/>\nVisit conference website at:http:\/\/www.aicanada.ca\/cmsPage.aspx?id=229 <\/p>\n<p>For further information, please contact AIC\u2019s Conference and Meeting Planner, Marie-Louise Doyle at maried@aicanada.ca<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"QRvS1AOgyv\"><p><a href=\"https:\/\/www.wavoglobal.org\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Wavo Global\" src=\"https:\/\/www.wavoglobal.org\/?embed=true#?secret=QRvS1AOgyv\" data-secret=\"QRvS1AOgyv\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"QRvS1AOgyv\"><p><a href=\"https:\/\/www.wavoglobal.org\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Wavo Global\" src=\"https:\/\/www.wavoglobal.org\/?embed=true#?secret=QRvS1AOgyv\" data-secret=\"QRvS1AOgyv\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nmailto:kgoodwin.anw@telus.net<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=230<br \/>\nhttp:\/\/www.aicanada.ca\/cmsPage.aspx?id=229<br \/>\nmailto:maried@aicanada.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada36 Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada36<\/p>\n<p>hese days, living abroad no longer precludes<br \/>\nobtaining an AACI designation. No one knows<br \/>\nthis better than Tania Wardle. In 2008, the <\/p>\n<p>Candidate appraiser started her courses from a most<br \/>\nunlikely place: Barbados.<\/p>\n<p>After graduating with an Undergraduate Busi-<br \/>\nness degree from the University of Western Ontario\u2019s<br \/>\nRichard Ivey School of Business in 2006, the Canadian-<br \/>\nborn Wardle decided to travel. Along the way, she<br \/>\nstopped in Barbados to attend a cousin\u2019s wedding.  <\/p>\n<p>Because her father is from the island, she had<br \/>\nthe good fortune to already have citizenship. Then,<br \/>\nwhen she decided to stay a little longer to spend<br \/>\ntime with her extended family and try out life in<br \/>\nher father\u2019s stomping grounds, a job opportunity<br \/>\nopened up in Scotiabank\u2019s Commercial Banking<br \/>\ndivision. Tania could not resist. \u201cBarbados is a great<br \/>\nplace to start for a young and ambitious person in<br \/>\nbusiness,\u201d she explains. \u201cI got into it as a way to<br \/>\nenter a career in finance, with a great opportunity to<br \/>\nlearn about the various areas of a bank as a manage-<br \/>\nment trainee. But, after a while, I realized it was not<br \/>\nthe right path for me.\u201dDuring her stint with Scotia-<br \/>\nbank, she realized that most of the projects she did<br \/>\nenjoy related to financing real estate developments.<br \/>\nSo, in July 2007, when Tania heard that the Senior<br \/>\nReal Estate Consultant for one of Barbados\u2019 leading<br \/>\nreal estate companies had resigned, she applied for<br \/>\nthe job.<\/p>\n<p>\u201cAnd I got it!\u201d says Tania, who has been<br \/>\nworking with Altman Real Estate\u2019s Property<br \/>\nConsultancy Services Inc. (PCS) ever since. \u201cAlmost<br \/>\nimmediately, my new boss decided that he<br \/>\nwanted me to get accredited.\u201d  <\/p>\n<p>The company then asked Tania to find an<br \/>\ninternationally recognized program that she could <\/p>\n<p>work into her schedule. As it turned out, the UBC-AIC<br \/>\nPost-Graduate Certificate in Real Property valuation<br \/>\n(PGCv) was the only program available in a distance<br \/>\nlearning format that would lead to an international<br \/>\ndesignation. Tania promptly enrolled. In January 2008,<br \/>\nshe started her first course in the fast-track program.<\/p>\n<p>UBC mailed her the text books and Tania was<br \/>\nsoon busy doing online assignments and sending<br \/>\ncase studies by email. Exams, on the other hand,<br \/>\nare written at a local facility arranged through the<br \/>\nMinistry of Education, with a proctor in attendance.  <\/p>\n<p>\u201cIt has worked out well,\u201d says Tania. \u201cThe<br \/>\ncourses are designed for people working full-time<br \/>\nand take into account that most of the students are<br \/>\nworking and studying with varying priorities.\u201d The<br \/>\nprogram even allows her to defer exams, a feature<br \/>\nthat is particularly useful, given the fluctuations<br \/>\nin her workload. In fact, last September, her work<br \/>\nrequired Tania to be in St. Lucia on the same day her<br \/>\nexam was originally scheduled. Thanks to the pro-<br \/>\ngram\u2019s flexibility, she was able to change the date<br \/>\nby paying an administration fee, without suffering<br \/>\nany penalty to her final mark.<\/p>\n<p>\u201cThe only thing I found to be challenging<br \/>\nwith being away to study is that many things are<br \/>\nCanadian-based,\u201d says Tania. \u201cWhile they make<br \/>\nsense to me because I lived in Canada, the informa-<br \/>\ntion is not always applicable in my work. It is a<br \/>\ndifferent market down here.\u201d<\/p>\n<p>For instance, Barbados does not have anything<br \/>\nthat equates to a multiple listing service (MLS)<br \/>\nsystem, nor does the island have stringent record-<br \/>\nkeeping for real estate transactions. Instead, sales<br \/>\nagents fiercely guard their information, making it an<br \/>\nextremely challenging environment for an appraiser.  <\/p>\n<p>As a consequence, even the land tax depart-<\/p>\n<p>ment \u2013 which is mandated to conduct tax assess-<br \/>\nments on the basis of market value \u2013 has a difficult<br \/>\ntime obtaining the necessary information to do so.<br \/>\nAlthough the land registry receives information on<br \/>\nmost real estate transactions, including the change<br \/>\nin title, name of purchaser and overall price, the<br \/>\ndepartment often does not receive any informa-<br \/>\ntion about the building. Furthermore, many of the<br \/>\ntransactions are completed offshore through Special<br \/>\nPurpose vehicles, by selling a company instead of the<br \/>\nassets. As a result, it is difficult to perform the direct<br \/>\ncomparison approach to an international standard.<br \/>\nA lot of the time, valuations are based on the cost<br \/>\nmethod.<\/p>\n<p>\u201cCommercial property valuations are great,\u201d says<br \/>\nTania, \u201cbecause the focus is on income potential,<br \/>\nwithout as much need for finding comparable<br \/>\nproperty information, except for supporting capi-<br \/>\ntalization rates. We are fortunate to be attached<br \/>\nto other areas of the real estate industry to inform<br \/>\nour valuations as much as possible. Otherwise, our<br \/>\nsituation definitely poses some challenges.\u201d<\/p>\n<p>One of those challenges involved being able<br \/>\nto find examples of properties in Barbados that<br \/>\nshe could use to complete her last project for the<br \/>\nFoundations in Real Estate Appraisal course (BUSI<br \/>\n330). It was impossible to find four standard sales<br \/>\nwithin the required time range. <\/p>\n<p>In Canada, the standard timeframe for sales used<br \/>\nfor comparisons is within 90 days. \u201cThat is impossible<br \/>\nin Barbados,\u201d says Tania. \u201cThere is not that much turn-<br \/>\nover.\u201d Instead, the timeline for comparison is about<br \/>\nthree years, with companies using the government\u2019s<br \/>\nconsumer price index to make adjustments. Unsure of<br \/>\nwhat to do, she emailed her tutor, AIC Past President<br \/>\nGeorge Maurice, who helped her find a solution. <\/p>\n<p>T<\/p>\n<p>Tania WarDLe,<br \/>\ndistance is no barrier<\/p>\n<p>FOR<\/p>\n<p>By Christine Hanlon<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 37Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 37<\/p>\n<p>Although the distance courses are designed to<br \/>\nbe done through self-study, tutors are also available<br \/>\nto answer questions. In the end, Tania\u2019s connection<br \/>\nwith her tutor proved doubly fortuitous.<\/p>\n<p>Upon realizing at that time that Maurice was<br \/>\nthe current president of the AIC, she wondered if his<br \/>\nconnections could help her with another dilemma.<br \/>\nAlthough the AACI accreditation program now<br \/>\nallows Candidates to complete their education<br \/>\nand experience requirements concurrently, finding<br \/>\nan appropriate mentor for the applied experience<br \/>\ncomponent can pose great difficulty outside of<br \/>\nCanada.  <\/p>\n<p>AIC requires mentors to be an AIC designated<br \/>\nmember, preferably with expertise in the same<br \/>\ndiscipline as the Candidate. In rare situations,<br \/>\na Candidate may apply to AIC\u2019s Professional<br \/>\nQualification and Competency Committee for an<br \/>\nexception to this requirement. Exceptions may be<br \/>\ngranted, for example, in situations where distance or<br \/>\nspecialization prohibits mentoring by a designated<br \/>\nmember.<\/p>\n<p>Tania\u2019s boss, Terry Hanton, is an experienced<br \/>\nappraiser who is accredited under the Barbados<br \/>\nEstate Agents and valuers Association. While the<br \/>\nUBC program would likely have allowed Tania to<br \/>\nselect him as a mentor based on geographical<br \/>\ncircumstances, he is not an AIC member and, not<br \/>\ndirectly familiar with the Canadian standards AIC<br \/>\nCandidates are required to follow. The legislation<br \/>\nfor appraisal standards and registration is only now<br \/>\nbeing developed in Barbados.<\/p>\n<p>\u201cThere is no such thing as an AACI where I live,\u201d<br \/>\nexplains Tania. \u201cI am likely to be the first one.\u201d<\/p>\n<p>To avoid being disadvantaged by geographical<br \/>\ncircumstance, she asked Maurice if she might<br \/>\nobtain a secondary mentor \u2013 an AACI in Canada.<br \/>\nIn response to her request, he arranged for Tania to<br \/>\nmeet with two potential mentors working in the<br \/>\nGreater Toronto Area (GTA). <\/p>\n<p>Strengthening her Canadian ties is a solution<br \/>\nthat Tania\u2019s boss in Barbados had already been<br \/>\nadvocating. He felt that improving her training in<br \/>\nthis fashion would be an asset to the Barbados firm. <\/p>\n<p>PCS is an established real estate consultancy<br \/>\noffering appraisal related services including<br \/>\nvaluations, feasibility studies and market<br \/>\nstudies, to name a few. Having Tania qualify<br \/>\nunder an international standard will be a great<br \/>\nasset to the growth of the company. \u201cMy boss<br \/>\nhas been extremely supportive in this regard,\u201d<br \/>\nsays Tania.<\/p>\n<p>Real estate consultants, accountants,<br \/>\nproject managers, quantity surveyors and<br \/>\nproperty managers comprise the company\u2019s 13<br \/>\nemployees. Presently, most of the advisory and<br \/>\nvaluation work is performed by Tania, along<br \/>\nwith her boss and the financial director, both of<br \/>\nwhom are chartered accountants.  <\/p>\n<p>While the appraisal industry in Barbados<br \/>\nhas been relatively unsophisticated, things<br \/>\nare changing; the large projects with which<br \/>\nthe company is involved are requesting<br \/>\nmore information as well as a higher level of <\/p>\n<p>qualification. Indeed, the timing of Tania\u2019s AACI<br \/>\nstudies could not be better.  <\/p>\n<p>Furthermore, most of the company\u2019s work is<br \/>\nfor offshore buyers in the luxury real estate and<br \/>\nsecond home market. Many of the transactions are<br \/>\nfinanced by foreign banks. \u201cThey expect our work<br \/>\nto be conducted to the same standard they receive<br \/>\nin the UK, Canada or the US,\u201d Tania explains. This<br \/>\nmakes having a knowledgeable AACI on board<br \/>\neven more important. This all bodes well for Tania<br \/>\nand the staff at Property Consultancy Services.<br \/>\n\u201cThey feel that, for the well-being of our group, it<br \/>\nis important that at least one of us is trained under<br \/>\ninternational standards,\u201d she explains.  <\/p>\n<p>Tania encourages any international students<br \/>\nto pursue the AACI designation from abroad<br \/>\nand hopes that her experience paves the way to<br \/>\nmaking things a little easier. She adds: \u201cThe more<br \/>\nAACIs there are around the world, the better it is<br \/>\nfor everyone, right?\u201d <\/p>\n<p>\u201cThe more AACIs there are around<br \/>\nthe world, the better it is for everyone.\u201d<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>www.ara.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada38<\/p>\n<p>Introduction<br \/>\nThe real estate issue involved determining the<br \/>\nvalue of an unregistered storm easement under<br \/>\na single-family house and garage located in an<br \/>\nabove average older residential area within a SW<br \/>\nOntario city of approximately 300,000 people. <\/p>\n<p>The house was purchased in May 2006 for<br \/>\n$255,000 through the MLS system. Unbeknown to<br \/>\nthe purchaser, there was an unregistered prescrip-<br \/>\ntive storm sewer easement that runs diagonally<br \/>\nunder the full length of the house and the<br \/>\ndetached garage. The easement was not identi-<br \/>\nfied on the MLS listing. The easement is a chan-<br \/>\nnelization of the Carling Creek and was installed<br \/>\nsometime between 1913 and 1925. The subject<br \/>\nhouse was built in 1930. <\/p>\n<p>The new owner of the property wanted to<br \/>\ndemolish the house and rebuild it as an exact<br \/>\nreplica of the original house. When a demolish-<br \/>\nment permit was applied for it was denied because<br \/>\nof the unregistered easement that was under the<br \/>\nhouse. The cost of moving the easement was<br \/>\n$300,000. The owners launched a claim under<br \/>\nthe title insurance program. Since they were never<br \/>\nadvised by the lawyer that an easement existed,<br \/>\nthey wanted compensation as a result of the<br \/>\nunregistered easement, since it prohibited the<br \/>\nfuture plans of the owner. Since there is title insur-<br \/>\nance, there is no obligation by any lawyer to search<br \/>\ntitle or to contact the local municipality regarding<br \/>\nany issues with any property. <\/p>\n<p>Real estate loss<br \/>\nDo easements have an impact on value? We<br \/>\nknow that, when an easement is \u2018taken\u2019 from<br \/>\na fee simple, interest compensation is required<br \/>\nat the time the easement is granted. Obviously,<br \/>\nthe owner of the fee simple wants some type of<br \/>\npayment for \u2018giving up\u2019 part of the fee simple rights<br \/>\nthat run with any property. <\/p>\n<p>What about after the fact? Do easements<br \/>\ncontinue to play a role in terms of a loss in value? It is<br \/>\nan interesting question. No formal, published study<br \/>\non easements and their effects on value has ever<br \/>\nbeen published in appraisal magazines. Generally,<br \/>\nthere has been a lot of guess work by real estate<br \/>\npractitioners, which should be discouraged. Either<br \/>\nwe know the answer or we do not. Fortunately, there<br \/>\nare modern technological tools that are available to<br \/>\naid real estate practitioners in determining a number<br \/>\nof answers about real estate. The accompanying<br \/>\ndiagram shows the easement through the property. <\/p>\n<p>Proposed real estate solution<br \/>\nWhen asked if easements have an impact on<br \/>\nproperty values, all appraisers will default to the<br \/>\ntimeless solution known as \u2018paired sales.\u2019 The use of<br \/>\npaired sales is not an option in this situation because<br \/>\nthey do no exist in the market place. The confusion<br \/>\nfor appraisers is the difference between \u2018identical\u2019<br \/>\nand \u2018similar.\u2019 A paired sale is an identical sale in<br \/>\nevery respect to the property under review, with the<br \/>\nexception of a singular property characteristic under<br \/>\nreview. Where the confusion lies is in the term \u2018simi-<br \/>\nlar.\u2019 Many appraisers think that, because they have<br \/>\nsimilar sales, they are identical. Unfortunately, that<br \/>\nis not the case. How appraisers analyze similar sales<br \/>\nis to make some type of ad hoc adjustments (based<br \/>\nupon no evidence) of the differences between<br \/>\nthe sale properties and the property in question.<br \/>\nThe problem with this type of analysis is that the<br \/>\nappraiser cannot hold these physical differences<br \/>\nbetween the similar sales and the subject property<br \/>\nconstant. We need a tool that is able to hold constant<br \/>\nall the variables that impact real estate value while<br \/>\nthe appraiser is studying the real estate item that he<br \/>\nor she wants to examine. <\/p>\n<p>The only real estate model that can actually hold<br \/>\nconstant all the variables that interact on price in a<br \/>\ngiven real estate market place is multiple regression <\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada38<\/p>\n<p>an unregistered<br \/>\nsewer easement<\/p>\n<p>ValuingValuing<br \/>\nBy George Canning, AACI, P. App., Canning Consultants Inc., London, Ontario and<br \/>\nRandall Cuthbert, CRA, R.C. Cuthbert Real Estate Appraisal &#038; Consulting, London, Ontario<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 39<\/p>\n<p>analysis (MRA). The phrase \u2018multiple regression\u2019<br \/>\nis somewhat of a backward phrase. There are two<br \/>\ntypes of regression analysis. The first is single-<br \/>\nvariate regression and multiple-variate regression<br \/>\nor multiple regression analysis. They both do the<br \/>\nsame job in that they are used to predict a value, a<br \/>\nbehaviour, a choice, etc. <\/p>\n<p>Single-variate regression is when one variable,<br \/>\nsuch as lot size, is plotted against another variable,<br \/>\nsuch as price, to see the relationship between these<br \/>\ncharacteristics. When lot size and price are plotted<br \/>\non a graph (xy), there would be a pattern of dots.<br \/>\nA formula can be applied to the dots or data that<br \/>\nwould draw a line that perfectly fits between all<br \/>\nthe data points on the graph. This line is called a<br \/>\nregression line, which is a misnomer. The word<br \/>\n\u2018regression\u2019 applies to the fact that each observa-<br \/>\ntion or dot on the graph \u2018regresses\u2019 back to the<br \/>\nline or the average of all the dots. So, the word<br \/>\nregression does not imply \u2018going backward,\u2019 but<br \/>\nthat each observation is linked to the regression<br \/>\nline by the shortest possible difference. In order<br \/>\nto create the line, we can either \u2018guesstimate\u2019 by<br \/>\ndrawing the line in free hand or more accurately<br \/>\nuse the formula Y = ax + b. The Y is the actual line<br \/>\nthat hits on the y axis (say sale price) itself. In order <\/p>\n<p>to have a line, one has to have two points. The<br \/>\npoint that is necessary is the one on the Y axis (sale<br \/>\nprice line). This is the start of the regression line.<br \/>\nThe small \u2018a\u2019 is the distance along the y axis from 0.<br \/>\nThis is the actual spot whereby the regression line<br \/>\nattaches itself. The small \u2018b\u2019 is the slope of the line.<br \/>\nThe small \u2018x\u2019 is the variable selling price. Thus, one<br \/>\ncan take the lot size of the subject property and<br \/>\ndraw a parallel line until it hits the regression line.<br \/>\nThen, a perpendicular line can be drawn down to<br \/>\nthe selling price (x) axis to determine a value. This<br \/>\ntype of analysis is somewhat useless in real estate<br \/>\nanalysis, because it assumes that the only charac-<br \/>\nteristic or variable (called lot size) drives the entire<br \/>\nmodel. We know that many property characteris-<br \/>\ntics can interact on price and that is why multiple<br \/>\nregression analysis works best. <\/p>\n<p>With multiple-variate regression, it is defined<br \/>\nas the relationship between one or more inde-<br \/>\npendent variables (e.g., lot size, house size and<br \/>\nage) to sale price known as a dependent vari-<br \/>\nable. Multiple-variate regression lines can only<br \/>\nbe graphically seen up to several independent<br \/>\nvariables, simply because there are no graphics<br \/>\navailable that would show what a regression line<br \/>\nwould look like if there were 50 independent<br \/>\nvariables used in the analysis. Most likely, it would<br \/>\nlook like a flat plane. The reason why multiple-<br \/>\nvariate or multiple regression analysis is preferred is<br \/>\nthat it can determine relationships between many<br \/>\nindependent variables (e.g., lot size, time, base-<br \/>\nment finishing, house size, garages, condition, age,<br \/>\netc.) relative to one singular dependent variable<br \/>\ncalled price. Since the valuer does not know which<br \/>\nindependent variable (s) are most influential on<br \/>\nsale price, it is best to throw everything into the<br \/>\nhopper to see which independent variable has the<br \/>\nmost influence on price. The formula for a multiple<br \/>\nregression line would be written as follows: <\/p>\n<p>Y (sale price) = a (distance along Y axis) times<br \/>\n1 (lot size) times 2 (house age) times 3 (house<br \/>\nsize) times 4 (basement finished area) to as many<br \/>\nvariables as one likes + b (the slope of the line). <\/p>\n<p>The reason why we would use multiple<br \/>\nregression analysis over single regression analysis<br \/>\nis that, in the case of examining the effects of<br \/>\neasements on property values, the appraiser<br \/>\ndoes not know which variable (e.g., easement,<br \/>\nhouse size, age, lot size, etc.) has the strongest <\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 39<\/p>\n<p>Diagram showing<br \/>\nsubject\u2019s site improvements<\/p>\n<p>EASEMENT<\/p>\n<p>influence on sale price. Second, multiple regression<br \/>\nanalysis has a unique mathematical ability. Multiple<br \/>\nregression analysis can hold all the other variables<br \/>\nthat effect price such as time, lot size, basement<br \/>\nfinishing, house size, etc. constant, while determin-<br \/>\ning the effect of each of the variables one at a time. <\/p>\n<p>Regarding the issue with the impact on easements,<br \/>\nin our data base, we need to include sales that had<br \/>\neasements and those that did not have easements. <\/p>\n<p>Data gathering<br \/>\nThe identification of residential properties with storm<br \/>\nsewers easements began with a review of the City of<br \/>\nLondon\u2019s mapping department, with the criteria being<br \/>\nresidential properties in similar settings in old north<br \/>\nand old south areas of the community. The results were<br \/>\na total of some 160 sales identified. These were cross<br \/>\nreferenced with the MLS system and concluded that<br \/>\nthere were 65 sales extending back to 1983 that had<br \/>\nstorm sewer easements (registered and unregistered).<br \/>\nWe then cross referenced these sales against sales<br \/>\nthat did not have a storm easement. In the end, we<br \/>\nanalyzed 133 residential sales of which three had<br \/>\nregistered easements, 62 had non-registered storm<br \/>\neasements, and 68 had no easements. The data<br \/>\nspanned a 23-year period from 1983 to 2006. <\/p>\n<p>Variables<br \/>\nconsidered in the analysis<br \/>\nvariables are those real estate characteristics that<br \/>\nare felt to have an effect on price. In our model, we<br \/>\nused the following variables: <\/p>\n<p>AgeYrs  =  Age of house in years<br \/>\nBldgSF  =  Above-grade living area in square feet<br \/>\nBsmntSF  =  Finished basement area in square feet<br \/>\nE1\/0  =  Categorical variable:  <\/p>\n<p>1 \u2013 property has easement, 0 &#8211; otherwise<br \/>\nESev1\/0  =  Categorical variable: 1 \u2013 easement affects <\/p>\n<p>house, 0 &#8211; otherwise<br \/>\nGar1\/0  =  Categorical variable: 1 \u2013 property has <\/p>\n<p>garage, 0 &#8211; otherwise<br \/>\nRE1\/0  =  Categorical variable: 1 \u2013 easement is <\/p>\n<p>registered, 0 &#8211; otherwise<br \/>\nLapdQtrs  =  Lapsed quarters of a year (three-month <\/p>\n<p>periods) since earliest sale<br \/>\nLocRate  =  ocation quality rating<br \/>\nLotSF  =  Lot area in square feet<br \/>\nNoExtAm  =  Number of exterior amenities<br \/>\nNoIntAm  =  Number of interior amenities<br \/>\nRealSP  =  Sale price adjusted for inflation by CPI<br \/>\nRealSPSF  =  Sale price per square foot adjusted for <\/p>\n<p>inflation by CPI<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada40<\/p>\n<p>To keep the results as clean as possible, we also<br \/>\nremoved the effect of inflation on the response vari-<br \/>\nable selling price and selling price per square foot. <\/p>\n<p>Using box plots to see differences<br \/>\nWe first placed the sales into two groups and<br \/>\nidentified them using a box plot. Box plots have been<br \/>\naround for 50 years and are very good for graphically<br \/>\nshowing the differences between two variables. In<br \/>\nthis case, it is the difference of sale prices of proper-<br \/>\nties with and without an easement. We wanted to<br \/>\nknow if there is any variation in price between those<br \/>\nsales with a registered\/unregistered sewer easement<br \/>\nand those without. The following box plot graph<br \/>\noutlines the result of the analysis. <\/p>\n<p>The line in the centre of the boxes is the median<br \/>\nprice. The lower line of the box plot represents the<br \/>\nlower quartile, while the upper line of the box plot<br \/>\nis the 75 percentile. The actual box area represents<br \/>\nthe 50th percentile. The small parallel lines at the<br \/>\ntop and bottom of the lines represent the smallest<br \/>\nand the largest value within that data set. <\/p>\n<p>Box plots do not take into consideration sta-<br \/>\ntistic distributions. In other words, any difference<br \/>\nin the median prices of houses with an easement<br \/>\nand without an easement may also reflect other<br \/>\ninfluencing characteristics such as location, lot size,<br \/>\netc. However, they do allow the analyzer a visual<br \/>\npresentation that differences do exist. <\/p>\n<p>This box plot shows that there is a difference <\/p>\n<p>in the median price range of those houses with an<br \/>\neasement and those without. The e1\/0=1 box on<br \/>\nthe left are of houses with an easement. You can<br \/>\nsee its median price level is lower than the e1\/0=0<br \/>\nmedian box plot price, which are of houses that do<br \/>\nnot have an easement. At this stage, we can only<br \/>\nsay that there is a difference in price. Some of that<br \/>\ndifference may be explained as a result of either<br \/>\nhaving an easement or not having an easement. <\/p>\n<p>Multiple regression analysis<br \/>\nThe adjoining MRA run is shown with the variable<br \/>\nE1\/0, which represents the effect of an easement on<br \/>\nthe data set. If the easement is deemed to have a<br \/>\nnegative effect, then we would expect the coef-<br \/>\nficient to be a negative number. We see that this<br \/>\nvariable has a negative number of -7,792.93. This<br \/>\nwould be expressed as dollars. <\/p>\n<p>The $7,792.73 means that, if there is an ease-<br \/>\nment on a property, there would be a loss in value<br \/>\nof $7,792.73. Since we know that the average selling<br \/>\nprice of all the houses in the data set was $165,145,<br \/>\nthen we can convert the dollar amount of the ease-<br \/>\nment as a percentage. Thus, $7,792.73\/$165,145 x<br \/>\n100% = 4.7% rounded to 5%. <\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada40<\/p>\n<p>250<br \/>\n230<br \/>\n210<br \/>\n190<br \/>\n170<br \/>\n150<br \/>\n130<br \/>\n110<br \/>\n90<br \/>\n70<br \/>\n50<\/p>\n<p>E1\/0=1 E1\/0=0<\/p>\n<p> Residential, manufactured housing and commercial\/<br \/>\nindustrial costs<\/p>\n<p> Computed in Canadian dollars<br \/>\n Square foot, segregated and unit-in-place costs<br \/>\n Depreciation tables<br \/>\n Continually updated and localized to more than 90<br \/>\nlocations in Alberta, British Columbia, Manitoba, the<br \/>\nMaritimes, the Northwest Territories, Ontario, Quebec,<br \/>\nSaskatchewan and Yukon.<\/p>\n<p>The Replacement Costs You Need<br \/>\nChoose costs in manuals, software or online.<br \/>\nFree support. Online training available.<\/p>\n<p>For replacement values for insurance purposes, please call us. MSB (Marshall Swift\/Boeckh) is a leading provider of residential<br \/>\nand commercial valuation solutions to the insurance industry. <\/p>\n<p>350 S. Grand Ave., Los Angeles CA 90071<br \/>\nwww.marshallswift.com<\/p>\n<p>Sales and Service: 1-800-544-2678<br \/>\nM-F 6:30 a.m. to 4:30 p.m. Pacific<\/p>\n<p>Save 10 percent on new and renewing subscriptions.<br \/>\nCall with code MAGCPV0809. Not good with any<br \/>\nother offer. Expires October 30, 2009. Ask about<br \/>\nfurther discount for credit card payment.<\/p>\n<p>1-800-544-2678<\/p>\n<p>ANAN BUSINESSBUSINESS<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.marshallswift.com<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 41<\/p>\n<p>In this output, there is also the variable RE1\/0.<br \/>\nThat is for those properties in which the easement is<br \/>\nregistered. Therefore, the difference between houses<br \/>\nwith a registered easement against those that have an<br \/>\nunregistered easement is $22,515.30. When applied<br \/>\nagainst the average selling price of the houses, the<br \/>\neffect is 14%. We need to take the results of the<br \/>\nMRA a little further. We see that the standard error<br \/>\nfor houses with easements against houses with no<br \/>\neasements is $4,839.26. This means that the figure<br \/>\nof $7,792.73 could either be ($7,792.73-$4,839.26 =)<br \/>\n$2,953 (rounded) or ($7,792.73+$4,839.26=) $12,632 <\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 41<\/p>\n<p>(rounded). This would be equivalent to between 2%<br \/>\nand 7.6% of the average selling prices of the houses<br \/>\nin the data set. Likewise, when comparing those<br \/>\nproperties with a registered easement and ones that<br \/>\nare unregistered, this difference could be \u00b1 $13,808<br \/>\naround $22,515.30 or expressed as a percentage<br \/>\nrange between 5% and 22.0%. <\/p>\n<p>Summary of the study results<br \/>\nIn summary, the MRA model identified that<br \/>\nproperties with unregistered sewer easements as<br \/>\nbeing 2.0 % to 7.6%, with registered easements<br \/>\nagainst non-registered sewer at 5% to 22%. The<br \/>\neasements found on the sales that had registered<br \/>\nand unregistered easements were either across<br \/>\nthe front of the properties or along the side. There<br \/>\nwere very few observations of houses sold with<br \/>\neasements that ran diagonal to the property. <\/p>\n<p>As a result of our findings, we suggested that<br \/>\nthe compensation paid for this easement because<br \/>\nit was diagonal was outside of the 2.0% to 7.6%<br \/>\nrange. We suggested a settlement at 15%. Our<br \/>\nlogic is that the easement should have been regis-<br \/>\ntered and any future buyer of the house would be<br \/>\nnotified through the MLS system as a disclosure. <\/p>\n<p>The rest of the story<br \/>\nApproximately 11 months after the owners<br \/>\nbought the property and discovered it had an<br \/>\nunregistered easement, they sold the property on<br \/>\nthe MLS system. The property sold in June 2007<br \/>\nfor $233,000. The property was purchased in May<br \/>\n2006 for $255,000. Therefore, the loss in value<br \/>\nwas $22,000 or 8.63%. This was a direct result<br \/>\nof the easement, because the owner now knew<br \/>\nabout it. Unfortunately, it was not disclosed on the<br \/>\nMLS May 2006 sale. <\/p>\n<p>Why the difference between the apprais-<br \/>\ner\u2019s selected rate at 15% and the market at<br \/>\n8.63%? We gave the landowner the benefit of<br \/>\nthe doubt regarding the fact that the ease-<br \/>\nment was diagonal as opposed to being across<br \/>\nthe front or along the side of the property. We<br \/>\nfelt that a diagonal easement would increase<br \/>\nthe chances of further restricting the use for<br \/>\nthe property, therefore, a greater chance of<br \/>\nloss should be realized. <\/p>\n<p>Second, the assumption was made that<br \/>\na registered easement has more of an impact<br \/>\non market price than easements that are not<br \/>\nregistered.  <\/p>\n<p>Coefficient estimates<br \/>\nLabel  Estimate  Std. Error t-value p-value<br \/>\nConstant 72985.8 28595.0 2.552 0.0120<br \/>\nBldgSF -44.0509 30.7765 -1.431  0.1550<br \/>\nBsmntSF  30.6087 8.36977  3.657 0.0004<br \/>\nE1\/0 -7792.73  4839.26 -1.610  0.1100<br \/>\nGar1\/0 19825.5 5005.83 3.960 0.0001<br \/>\nLapdQtrs 206.495 103.344 1.998 0.0480<br \/>\nLocRate  6468.25 3265.87 1.981 0.0500<br \/>\nLotSF  3.34722 0.954809  3.506  0.0006<br \/>\nNoExtAm 17033.6 3620.33 4.705 0.0000<br \/>\nNoIntAm 6810.75 1998.34 3.408 0.0009<br \/>\nrE1\/0 -22515.3 13808.3  -1.631 0.1057<br \/>\nBldgSF 2\u0302 0.0317681 0.0104885 3.029 0.0030<\/p>\n<p>Certain conditions apply.<br \/>\nAuto insurance is not available in Manitoba, Saskatchewan or British Columbia due to government-run plans.<\/p>\n<p>With your group<br \/>\nyou have privileges<br \/>\nFOR YOUR HOME AND AUTO,<br \/>\nENJOY THE BENEFITS OF PREFERRED RATES AND EXCEPTIONAL SERVICE<\/p>\n<p>Thanks to The Personal and the Appraisal Institute of Canada,<br \/>\nyou have access to home and auto group insurance. <\/p>\n<p>Why not take advantage of it?<\/p>\n<p>1-888-476-8737  thepersonal.com\/aicanada<br \/>\nGet a quote:<\/p>\n<p>T H E<\/p>\n<p>Choose your<br \/>\nprivileGe<br \/>\nC O N T E S T<\/p>\n<p>To enter, request a quote.<br \/>\nFor contest details visit:<br \/>\nthepersonal.com\/privilegecontest<\/p>\n<p>$50,000$50,000<br \/>\nimagine exhilaratinG<br \/>\nadventures valued at<\/p>\n<p>created exclusively for you!<\/p>\n<p>sport<br \/>\npaCkaGe<\/p>\n<p>entertainment<\/p>\n<p>paCkaGe<\/p>\n<p>177-1AC1-E_7x4.625-CMYK_09.indd   1 20\/01\/09   13:44:16<br \/>\nClick HeRe to return to Table of Contents<\/p>\n<p>www.thepersonal.com\/aicanada<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada42<\/p>\n<p>ew business technologies have dramatically changed the way in which<br \/>\nmembers of the valuation profession work on a day-to-day basis. As the <\/p>\n<p>trend continues towards an increasing dependence on technology to transmit<br \/>\ninformation, members of professional organizations must ensure the integrity of<br \/>\ntheir electronically transmitted information as well as provide non-repudiation<br \/>\nfor the authors of any electronic documents. This not only provides assurance to<br \/>\nclients and other users of this information, but helps strengthen the reputation<br \/>\nof the appraiser as a true professional.<\/p>\n<p>Partnering with Notarius, AIC provides its members with access to a digital<br \/>\nsignature service that ensures that members can comply, in complete confidence,<br \/>\nwith specific aspects of the Canadian Uniform Standards of Professional Appraisal<br \/>\nPractice (CUSPAP). Notably, CUSPAP requires that \u201cappraisers must take steps to<br \/>\nmeet the \u2018reasonable appraiser\u2019 test to protect the integrity of transmitted reports.\u201d   <\/p>\n<p>Charles Tremblay, Business Manager, Member Services, at Notarius is in<br \/>\ncharge of marketing the digital signature. As part of his duties, he must not only<br \/>\npromote the digital signature, but also explain to organizations and professionals<br \/>\nthe challenges associated with the use of electronic documents. In this article,<br \/>\nhe considers some of the factors involved in assisting organizations with the<br \/>\ntransition to use of digital signatures.<\/p>\n<p>Providing professionals<br \/>\nwith a reliable digital signature<br \/>\nIn 2003, Charles Tremblay joined Notarius, the technological branch of the<br \/>\nChambre des notaires du Qu\u00e9bec, when the Chambre decided to make its public <\/p>\n<p>Demystifying the digital signature<br \/>\nkey infrastructure services available to other professions. The aim was to provide all<br \/>\nprofessionals with a digital signature issued by a reliable source. \u201cAs far as I know,<br \/>\nthere is no other such system dedicated to professionals anywhere else in Canada,\u201d<br \/>\nsaid Mr. Tremblay. Several professional associations outside Qu\u00e9bec have expressed<br \/>\ninterest in what is happening in Qu\u00e9bec. Since dematerialization and digital archiv-<br \/>\ning are at the crux of the productivity challenge confronting companies, marketing<br \/>\nthe digital signature has taken on considerable significance for him. Notarius is a<br \/>\nnot-for-profit organization and, consequently, its marketing context is different than<br \/>\nthat of for-profit organizations. Furthermore, the solution developed by Notarius<br \/>\nalso comes at a time when environmental protection ranks high on its list of con-<br \/>\ncerns. \u201cIt is very motivating to promote a tool that will enable clients to transform<br \/>\nan environmental challenge into a competitive advantage,\u201d said Mr. Tremblay.<\/p>\n<p>The challenge: getting people to understand the risks<br \/>\nThe daily work of the Notarius business manager is to raise awareness among<br \/>\nprofessionals and businesses regarding the risks they face when they produce,<br \/>\narchive and share unprotected and legally non-compliant electronic documents.<br \/>\n\u201cOnce they grasp the potential risks, professionals find our digital signature tool<br \/>\nvery compelling,\u201d said Mr. Tremblay. After that, the job is to reassure users that<br \/>\ndigital signatures are legally equivalent to handwritten signatures.<\/p>\n<p>Convincing organizations of the advantages<br \/>\n\u201cWe have to convince professionals and businesses that the digital signature meets<br \/>\nbusinesses\u2019 productivity needs. Not only are electronic documents more economical<br \/>\nand considerably more ecological than hard copy, but they can be produced, archived<br \/>\nand shared more productively than hard copy,\u201d said Mr. Tremblay. <\/p>\n<p>All digital signature pilot projects and trials have been conclusive and resulted<br \/>\nin implementation projects. Several firms from different professions have<br \/>\nconfirmed that, after some time, significant savings were achieved in terms of<br \/>\nproduction time and archiving cost. Over 98% of the people who migrate to the<br \/>\ndigital signature continue to use it and renew their subscription. Out of the less<br \/>\nthan 2% that do not renew their subscription, retirement ranks as the number one<br \/>\nreason for not renewing at 60%.  Businesses that remain sceptical are those that<br \/>\nproduce electronic documents with little or no attention to document security.<br \/>\nThey compromise document integrity and leave themselves open to document<br \/>\nrepudiation. \u201cThese professionals and businesses have not yet understood the risks<br \/>\nthey leave themselves open to,\u201d said Mr. Tremblay.<\/p>\n<p>Challenges faced<br \/>\nAnother aspect of the business manager\u2019s work is seeing to the development of<br \/>\nnew products with a view to ensuring that the digital signature is even better<br \/>\nsuited to the processing done by professionals during the course of their work.<br \/>\nThe development of a digital signature kit is probably the product of which Mr.<br \/>\nTremblay is most proud. This kit makes the digital signature more accessible<br \/>\nand user-friendly. \u201cThis was quite a challenge because, initially, the only appli-<br \/>\ncation the digital signature could be used with was Adobe Acrobat Standard <\/p>\n<p>N<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 43<\/p>\n<p>and Professional, English version 5.0. In those days, implementation of the<br \/>\ndigital signature required further development and the purchase of a licence,<br \/>\nwhich could get quite costly for companies,\u201d said Mr. Tremblay. Today,<br \/>\nNotarius provides a digital signature kit that contains all the tools needed to<br \/>\nconvert documents to PDF format, for rapid batch signature by one or more<br \/>\npersons, without the need to develop or acquire any software. The kit also<br \/>\neliminates tedious steps that are time-consuming, thus permitting resources<br \/>\nto be better allocated to value-added activities. Mr. Tremblay notes that \u201ca<br \/>\ngreatly improved version of our toolkit is scheduled for release this fall.\u201d<\/p>\n<p>Where will this take Notarius?<br \/>\n\u201cIronically, I believe that the Notarius digital signature will have more rapid<br \/>\nsuccess outside Qu\u00e9bec, simply because several professional associations<br \/>\noutside Qu\u00e9bec appear to want to impose use of the digital signature on<br \/>\ntheir members with a view to complying with e-commerce legislation,\u201d said<br \/>\nMr. Tremblay. \u201cMy advice to individuals in the valuation field is: prepare for<br \/>\nthe electronic revolution. The later you get into it, the more work it will take<br \/>\nto rapidly adapt to these significant changes.\u201d   <\/p>\n<p>For information contact:<br \/>\nCharles Tremblay<br \/>\nBusiness Manager, Member Services, Notarius<br \/>\ncharles.tremblay@notarius.com<\/p>\n<p>Canada\u2019s BEST source of environmental risk information for real estate<\/p>\n<p>ERIS reports include and identify:<br \/>\n\u2022 Waste disposal sites<br \/>\n\u2022 PCB storage sites<br \/>\n\u2022 Spills<br \/>\n\u2022 Contaminated sites<br \/>\n\u2022 Fuel storage sites<br \/>\n\u2022 Nearby industrial facilities<\/p>\n<p>Information Services include:<br \/>\nAerial Photographs \u2022 City Directory Search \u2022 Database Reports \u2022 Fire Insurance Maps \u2022 Property Title Search \u2022 Topographic Maps<\/p>\n<p>Call toll free: 1-866-517-5204<br \/>\nEmail: info@eris.ca<\/p>\n<p>Visit www.eris.ca<\/p>\n<p>Eris gm1764 CA Half 7&#215;4.625.qxd  1\/14\/09  3:12 PM  Page 1<br \/>\nFor more information contact Notarius at<br \/>\n514-281-1442 or toll free 1-800-567-6703<\/p>\n<p>http:\/\/www.notarius.com<\/p>\n<p>N o t a r i u s \u2019 d i g i t a l  s i g N a t u r e<\/p>\n<p>t h e  o f f i c i a l  s i g N a t u r e  a N d  t h e  e l e c t r o N i c<br \/>\ns e c u r i t y  s e a l  f o r  P r o f e s s i o N a l s  M e M b e r s  o f :<\/p>\n<p>Ordre<br \/>\ndes ing\u00e9nieurs<\/p>\n<p>du Qu\u00e9bec<\/p>\n<p>S e r v i n g  p r o f e s s i o n a l s<\/p>\n<p>For more information contact Notarius at<br \/>\n514-281-1442 or toll free 1-800-567-6703<\/p>\n<p>http:\/\/www.notarius.com\/en\/clientele_ICDE_en.html<\/p>\n<p>NO T A R I U S\u2019 D I G I T A L S I GNA T U R E<\/p>\n<p>T H E OF F I C I A L SI GNA T U R E AND T H E EL E C T R ONI C<br \/>\nSE C U R I T Y SE A L F O R PR O F E S S I ONA L S MEMB E R S O F:<\/p>\n<p>Ordre<br \/>\ndes ing\u00e9nieurs<\/p>\n<p>du Qu\u00e9bec<\/p>\n<p>S e r v i n g  p r o f e s s i o n a l s<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.notarius.com\/en\/clientele_ICDE_en.html<br \/>\nhttp:\/\/www.eris.ca<br \/>\nmailto:charles.tremblay@notarius.com<br \/>\nmailto:info@eris.ca<\/p>\n<p>On the first Friday of each month, the Real Estate Division<br \/>\noffers selected courses in webinar format for professionals<br \/>\nwho wish to participate in a live, online classroom.<br \/>\nwww.realestate.ubc.ca\/webinar<\/p>\n<p>R eal Estate Division <\/p>\n<p>THE UNIVERSITY OF BRITISH COLUMBIA<\/p>\n<p>Contact Us<\/p>\n<p>Professional<br \/>\nDevelopment<\/p>\n<p>Courses<\/p>\n<p>UBC Real Estate Division<\/p>\n<p>Find out more about these and more professional development courses at www.realestate.ubc.ca\/cpd<\/p>\n<p>Scope of Work \u2013 Establishing \u201cNew Horizons\u201d For Your Valuation Services (4) (webinar only) <\/p>\n<p>Getting to Green \u2013 Energy Efficient and Sustainable Housing (7)<\/p>\n<p>Business Enterprise Valuation (7)<\/p>\n<p>Creative Critical Thinking \u2013 Advancing Appraisal to Strategic Advising (10)<\/p>\n<p>Decision Analysis \u2013 Making Better Real Property Decisions (10)<\/p>\n<p>Valuation for Financial Reporting \u2013 Real Property Appraisal and IFRS (4)<\/p>\n<p>Adjustment Support in the Direct Comparison Approach: Hybrid Adjustment Technique (4)<\/p>\n<p>Green Value \u2013 Valuing Sustainable Commercial Buildings (7)<\/p>\n<p>Requests for Proposals (RFPs) \u2013 Winning Strategies (7)<\/p>\n<p>Machinery and Equipment Valuation (7)<\/p>\n<p>Valuation of Property Impairments and Contamination (10)<\/p>\n<p>Real Estate Consulting: Forecasting (13)<\/p>\n<p>Highest and Best Use Analysis (4)<\/p>\n<p>Multi-Family Property Valuation (7)<\/p>\n<p>Exposure &#038; Marketing Time: Valuation Impacts (4)<\/p>\n<p>Residential \/ Commercial Appraisal Basics (0)<\/p>\n<p>Expropriation Valuation (4)<\/p>\n<p>Land Valuation (7)<\/p>\n<p>Submerged Land Valuation (7)<\/p>\n<p>Appraisal Review (7)<\/p>\n<p>Hotel Valuation (7)<\/p>\n<p>Office Property Valuation (7)<\/p>\n<p>Seniors Facilities Valuation (4)<\/p>\n<p>Lease Analysis (7)<\/p>\n<p>Urban Infrastructure Policies (7)<\/p>\n<p>Urban Infrastructure Applications (10)<\/p>\n<p>Agricultural Valuation (10)<\/p>\n<p>CURRENT COURSES<br \/>\n(0 \/ 4 \/ 7 \/ 10 \/ 13) = CPD Credit Hours All courses are available in self-study format unless indicated<\/p>\n<p>Courses marked with       are also available as webinars (subject to enrolment)  &#8211; See www.realestate.ubc.ca\/webinar for details<\/p>\n<p>Toll-free:  1.877.775.7733 Email:  cpd@realestate.sauder.ubc.ca<br \/>\nFax:  604.822.1900  Web:  www.realestate.ubc.ca<\/p>\n<p>Today\u2019s successful real estate professional is creative, analytical, adaptable,<br \/>\nand committed to lifelong learning.  The Real Estate Division at UBC\u2019s Sauder<br \/>\nSchool of Business offers a suite of short online professional development<br \/>\ncourses in a self-study or live webinar format, designed to broaden your<br \/>\nmarketable skill set and enhance your professional future.  Completion of<br \/>\na CPD course will earn you a UBC award of completion, plus continuing<br \/>\nprofessional development credits towards designation requirements.<\/p>\n<p>next webinar: Oct 2 <\/p>\n<p>next webinar: Oct 2 <\/p>\n<p>next webinar: Nov 6 <\/p>\n<p>next webinar: Nov 6 <\/p>\n<p>next webinar: Dec 4<\/p>\n<p>next webinar: Dec 4<\/p>\n<p>http:\/\/www.realestate.ubc.ca\/webinar<br \/>\nhttp:\/\/www.realestate.ubc.ca\/webinar<br \/>\nhttp:\/\/www.realestate.ubc.ca\/cpd<br \/>\nmailto:cpd@realestate.sauder.ubc.ca<br \/>\nhttp:\/\/www.realestate.ubc.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 45<\/p>\n<p>Spotlight on Continuing Professional Development<\/p>\n<p>The UBC Real Estate Division is presenting a series of live, online, web-based seminars or webinars. These professional development webinars are offered on the first Friday of every month (excluding summer<br \/>\nmonths), from 8 am -10 am Pacific time (11 am-1 pm Eastern time). The<br \/>\nsessions consist of a two-hour presentation with an expert instructor who will<br \/>\npresent an interactive online classroom session and answer any questions you<br \/>\nmay have. By attending the session and completing two hours of pre-reading<br \/>\non your own, you will receive four guaranteed AIC CPD credit hours. There is<br \/>\nno quiz or exam required to receive these credits.<\/p>\n<p>In this article, we highlight two upcoming webinars in the UBC Real<br \/>\nEstate Division\u2019s CPD Fridays series. Feed your future!<\/p>\n<p>CPD 124: Scope of Work \u2013<br \/>\nEstablishing \u2018New Horizons\u2019<br \/>\nFor Your Valuation Services<br \/>\nPresented October 2, 2009 by John Clark, AACI, P. App.<br \/>\nOwners and investors in real property frequently need advice and appraisers<br \/>\nare in an excellent position to provide this service. Reasons why owners or<br \/>\ninvestors need advice range from needs that are simple to very complex. As<br \/>\nsuch, the necessary due diligence in any real property assignment can extend<br \/>\nalong a continuum. This course highlights how CUSPAP offers flexibility<br \/>\nto provide advice along this continuum. Our goal is to help AIC members<br \/>\naddress client needs in differentiating assignments by their complexity and<br \/>\nby the assignment\u2019s intended use.  <\/p>\n<p>CUSPAP states that valuation professionals \u201cmust identify the problem to be<br \/>\nsolved, determine the scope of work necessary to solve the problem, and cor-<\/p>\n<p>rectly complete the research and analyses necessary to produce credible results.\u201d<br \/>\nScope of work can be defined as follows: <\/p>\n<p>Scope of work gives appraisers the ability to customize assignments in order<br \/>\nto better serve their clients. In an ever-changing business environment, and<br \/>\nan expanding global economy, such flexibility is increasingly important.<br \/>\nScope of work allows appraisers to expand their range of services beyond<br \/>\nthe traditional ones and opens doors to new opportunities. (from Stephanie<br \/>\nColeman, MAI, SRA. 2006. Scope of Work. Chicago: Appraisal Institute)<\/p>\n<p>Credible is a key concept in defining scope of work. A credible result does<br \/>\nnot mean \u2018the right number\u2019 or \u2018an irrefutable conclusion.\u2019 Basically, it implies<br \/>\nthat assignment results must be believable to any and all who may be in a<br \/>\nposition to judge. Another term that may be used as a synonym for cred-<br \/>\nible is duly-founded. The foundation of an opinion must be reasonable, and<br \/>\nsupported by relevant evidence and logic. The objective of any assignment<br \/>\ncan be restated, then, as a credible or duly-founded opinion that is useful in<br \/>\nsolving the client\u2019s problem.<\/p>\n<p>The first step in establishing scope of work requires interviewing the<br \/>\nclient. You have to understand their problem and their intended use, such<br \/>\nthat you can design a solution that is credible (duly-founded) and that<br \/>\nanswers their question. In simple terms, establishing scope of work means<br \/>\ntelling the client what you propose to do, the anticipated research you plan<br \/>\nto do, and the level of detail in reporting results. In other words, establishing<br \/>\nscope of work is like giving a speech: start by telling the audience the points<br \/>\nyou will talk about, then tell them the story, then wrap up by telling them<br \/>\nagain the points that you just made. You first develop the work plan and<br \/>\ncommunicate this to the client in advance of the assignment being started.<\/p>\n<p>KEY PRINCIPLES IN SCOPE OF WORK<br \/>\nIdentify the problem<br \/>\nPlan the solution &#8211; advise the client what you plan to do<br \/>\nApply the solution &#8211; undertake the assignment<br \/>\nReport the outcome &#8211; advise the client what you were able to accomplish and how this differed from the intended or proposed scope of work.<\/p>\n<p>Learning Advisory<\/p>\n<p>FEED YOUR FUTURE<br \/>\nwith CPD FRIDAYS<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada46<\/p>\n<p>acquisitions, dispositions, or reinvestment.<br \/>\n\u2022\t Financial\tmodeling\tservices\tincluding\tthe\tanalysis\tof\tassets,\tdevelopment\t<\/p>\n<p>opportunities, and new business opportunities.<br \/>\n\u2022\t Due\tdiligence\tactivities\tthrough\tundertaking\tmarket\tsurveys,\tsite\tinspections,\t<\/p>\n<p>operating statement analysis, normalization of income statements and lease<br \/>\nabstracts.<\/p>\n<p>\u2022\t Litigation\tsupport\tservices\tincluding\tvaluation\tconsulting,\tproducing\texpert<br \/>\nreports and credible testimony. <\/p>\n<p>Many appraisers work in a highly technical role focused within a very narrow<br \/>\narea of specialization, and may be reluctant to advise beyond this very limited<br \/>\ncapacity. Thus, a common criticism of appraisers is that, when they are asked a<br \/>\nstrategic question, they might respond with a value estimate, even though this<br \/>\ndoes not answer the question \u2013 or perhaps it only addresses one narrow slice of<br \/>\nthe strategic advice the client needs.  <\/p>\n<p>The valuation professional who wishes to evolve their client base or service<br \/>\nofferings must adopt a more strategic problem-solving perspective. In other<br \/>\nwords, the valuation professional must consider the broader picture of WHY the<br \/>\nclient needs their work in order to help them make better business decisions.<br \/>\nAnd, increasingly, they need to reflect a property\u2019s incremental contribution in a<br \/>\ncorporate real estate environment.<\/p>\n<p>Providing real estate advisory services requires:<br \/>\n\u2022\t thinking\tstrategically\tand\tcritically,<br \/>\n\u2022\t carefully\tdefining\tproblems,<br \/>\n\u2022\t conducting\teffective\tresearch,<br \/>\n\u2022\t recognizing\tthe\tdifferent\tpoints-of-view\tof\tkey\tstakeholders,\tand<br \/>\n\u2022\t identifying\tand\tmanaging\trisk.<br \/>\nThis course focuses on developing a creative critical thinking foundation, with an<br \/>\noverall goal of fostering effective problem-solving. Research is one important part<br \/>\nof this and risk analysis is another key area. This session will focus on group work<br \/>\nand student participation in order to emphasize the thinking processes and skill set<br \/>\nnecessary to help practitioners advance from technician to strategic advisor in a real<br \/>\nproperty context.<\/p>\n<p>Upcoming CPD Friday webinars:<br \/>\nFriday, October 2, 2009:<br \/>\n\u2022\t CPD\t124:\tScope\tof\tWork\t\u2013\tEstablishing\t\u2018New\tHorizons\u2019\tFor\tYour\tValua-<\/p>\n<p>tion Services<br \/>\n\u2022\t CPD\t126:\tGetting\tto\tGreen\t\u2013\tEnergy\tEfficient\tand\tSustainable\tHousing<\/p>\n<p>Friday, November 6, 2009:<br \/>\n\u2022\t CPD\t101:\tBusiness\tEnterprise\tValuation<br \/>\n\u2022\t CPD\t110:\tCreative\tCritical\tThinking\t\u2013\tAdvancing\tAppraisal\tto\tStrategic\t<\/p>\n<p>Advising<br \/>\nFriday, December 4, 2009:<br \/>\n\u2022\t CPD\t114:\tValuation\tfor\tFinancial\tReporting\t\u2013\tReal\tProperty\tAppraisal\tand\t<\/p>\n<p>IFRS<br \/>\n\u2022\t CPD\t111:\tDecision\tAnalysis\t\u2013\tMaking\tBetter\tReal\tProperty\tDecisions<\/p>\n<p>For more information on these and other UBC CPD offerings, please visit our<br \/>\nwebsite:  www.realestate.ubc.ca\/webinar or www.realestate.ubc.ca\/cpd  <\/p>\n<p>Establishing scope of work means you should not immediately respond to<br \/>\nthe question \u2018What is the cost of an appraisal?\u2019 Instead, reply with questions<br \/>\nto determine what needs to be done in order to answer the client\u2019s question.<br \/>\nAn appraisal can mean many things, ranging from a simple drive-by check<br \/>\nto a narrative presentation accompanied by expert testimony in a court of<br \/>\nlaw. The scope of work and due diligence involved in these two scenarios will<br \/>\ncompletely differ and the \u2018answers\u2019 you find may differ too, based on the due<br \/>\ndiligence reasonably expected in the circumstances.<\/p>\n<p>This session will use case study scenarios to highlight how the scope of work<br \/>\nmay vary in a given situation. Letters of engagement will be explored as a way<br \/>\nto communicate to the client in writing what scope of work is proposed prior to<br \/>\naccepting an assignment.  <\/p>\n<p>CPD 110: Creative Critical thinking \u2013Advancing Appraisal to<br \/>\nStrategic Advising<br \/>\nPresented Nov. 6, 2009 by Bruce Turner, AACI, P. App.<br \/>\nThis course explores the mindset that underlies real estate consulting. The fol-<br \/>\nlowing examples illustrate areas in which real estate consultants might expect<br \/>\nto provide advisory services:<br \/>\n\u2022\t Valuation\tservices\tthat\tmight\trange\tfrom\tsingle\tproperty\tappraisals\tto\tevaluat-<\/p>\n<p>ing large and diverse portfolios, and completion of market analyses and feasibil-<br \/>\nity studies in support of property development and investment decisions.<\/p>\n<p>\u2022\t Financial\tadvisory\tservices\tthat\tmight\tinvolve\tsingle\tasset\tor\tportfolio\t<\/p>\n<p>Housing market intelligence<br \/>\nyou can count on <\/p>\n<p>Visit www.cmhc.ca\/housingmarketinformation<br \/>\nto view, download or subsribe to our free e-reports.<\/p>\n<p>When you\u2019re looking for housing market data to help<br \/>\nyou make vital business or financial decisions, turn to<br \/>\nCanada Mortgage and Housing Corporation (CMHC). <\/p>\n<p>The housing industry trusts<br \/>\nCMHC for reliable, impartial and<br \/>\nup-to-date housing market<br \/>\nreports, analysis and knowledge. <\/p>\n<p>Visit www.cmhc.ca\/housingmarketinformation<br \/>\nto view, download or subscribe to our free e-reports.<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.realestate.ubc.ca\/webinar<br \/>\nhttp:\/\/www.realestate.ubc.ca\/cpd<br \/>\nhttp:\/\/www.cmhc.ca\/housingmarketinformation<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 47<\/p>\n<p>What is the behavioural<br \/>\ndescriptive interview (BDI)?<br \/>\nThe purpose of the BDI is to provide a formal,<br \/>\nface-to-face meeting between appointed AIC<br \/>\ndesignated members and the Candidates. The<br \/>\nmeeting is to assess the Candidate\u2019s qualities<br \/>\nand competencies in areas considered critical<br \/>\nfor success in the appraisal profession. The five<br \/>\ncompetencies being tested include market<br \/>\nanalysis, integrity, communication, critical<br \/>\nthinking, relationship-building and self-<br \/>\ndevelopment.  <\/p>\n<p>What it is not?<br \/>\nIt is not about evaluating the Candidate\u2019s<br \/>\ntechnical competencies. The fact that the<br \/>\nCandidate was successful at the AIC final written<br \/>\nexam establishes that he or she has acquired the<br \/>\nknowledge, technical abilities and skills required<br \/>\nto do the job.<\/p>\n<p>The BDI allows AIC to verify that the<br \/>\nCandidate has mastered the five professional<br \/>\ncompetencies associated with superior<br \/>\nperformance in areas of appraisal. The AIC<br \/>\nprofessional competency interview is designed<br \/>\nto test only behavioural competencies.<br \/>\nThese must be observable, measurable, linked<br \/>\nto professional requirements for designated<br \/>\nmembers of AIC, and based on strong<br \/>\nperformance.<\/p>\n<p>the process:<br \/>\nYou will be asked one interview question about<br \/>\na subject from each of the five competency<br \/>\ncategories and must provide a satisfactory<br \/>\nanswer for each, in order to succeed in the<br \/>\ninterview. Candidates must be prepared to<br \/>\ndiscuss at some length their personal experience<br \/>\nrelated to each of the five AIC-identified<br \/>\ncompetencies.<\/p>\n<p>It is helpful to keep a file of experience gained<br \/>\nin these competencies from the beginning of<br \/>\nyour Applied Experience program. This will assist<br \/>\nyou in selecting your best examples prior to your<br \/>\ninterview. \u00a0 <\/p>\n<p>When answering the questions, be sure to<br \/>\nprovide full details to the interviewers \u2013 include<br \/>\nthe five Ws (Who, What, Where, When and Why)<br \/>\nand How of the situation as well as what your<br \/>\nspecific role was, what follow up you did, and<br \/>\nhow you communicated throughout the situation.<br \/>\nIt is important to note that the Candidate must be<br \/>\nprepared to verify all examples for the panel.<\/p>\n<p>It is suggested that the Candidate use the<br \/>\nSTAR method (Situation \u2013 Task \u2013 Action \u2013<br \/>\nResult) to review the list of topics that will be <\/p>\n<p>addressed for each competency in the interview,<br \/>\nas per below. The BDI model of interview utilizes<br \/>\nthe STAR method, which helps you structure your<br \/>\nresponse to the interview questions:<br \/>\nSituation: What was the situation? What was<br \/>\nthe background and context?<br \/>\nTask: What specific task did you need to<br \/>\naccomplish?<br \/>\nAction: What specifically did you say and do?<br \/>\nWhat were the actions you took?<br \/>\nResult: What were the results of your actions?<br \/>\nWhat was the impact? What did you learn? <\/p>\n<p>To read more about preparing for the BDI, please<br \/>\nvisit the AIC website at: http:\/\/www.aicanada.ca\/<br \/>\ncmsPage.aspx?id=173<\/p>\n<p>The behavioural descriptive<br \/>\n interview \u2013 the final step toward designation<\/p>\n<p>Dominique<br \/>\nRacine-Dickie, CAE<\/p>\n<p>Manager, Professional Affairs<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"Nng3UB3Gok\"><p><a href=\"https:\/\/www.aicanada.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Appraisal Institute of Canada\" src=\"https:\/\/www.aicanada.ca\/embed\/#?secret=f0s4zK9EnX#?secret=Nng3UB3Gok\" data-secret=\"Nng3UB3Gok\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada48<\/p>\n<p>Designations\/Candidates\/Students<\/p>\n<p>The Appraisal Institute of Canada (AIC), together with the provincial associations and the provincial bodies affiliated with the AIC, commend the following<br \/>\nmembers who completed the rigorous requirements for accreditation as a designated member of the AIC during the period April 4, 2009 to July 10, 2009:<\/p>\n<p>L\u2019Institut canadien des \u00e9valuateurs (ICE), en collaboration avec les associations provinciales et les organismes provinciaux affili\u00e9s \u00e0 l\u2019ICE, f\u00e9licitent les membres<br \/>\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 4 avril au 10 juillet 2009:<\/p>\n<p>aiC designations granted \/ D\u00e9signations obtenues de l\u2019ICE<\/p>\n<p>Candidates \/ Stagiaires<br \/>\nAIC welcomed the following new Candidate members during the period April 4, 2009 to July 10, 2009:<\/p>\n<p>L\u2019ICE souhaite la bienvenue aux personnes suivantes qui ont joint les rangs des membres stagiaires durant la p\u00e9riode du 4 avril au 10 juillet 2009:<\/p>\n<p>ALBErtA<br \/>\nKurri S. Carlson<br \/>\nJason  Forster<br \/>\nChristopher Lee Gusa<br \/>\nSteven Norman Hill<br \/>\nRyan  Ho<br \/>\nDarren A. Ingram<br \/>\nRobert John Irwin<br \/>\nMark  Poechman<br \/>\nElias  Taboulchanas<\/p>\n<p>BrItISH COLUMBIA<br \/>\nDavid  Deng<br \/>\nDerek  Funk<br \/>\nTing Fei (Fay) Lin<br \/>\nMonika C. Parkes<br \/>\nElaine  Sela<br \/>\nBrian C. Smith<br \/>\nGiang (John) Tran<br \/>\nJason S. Tse<br \/>\nCynthia  Wright<\/p>\n<p>NEW BrUNSWICK<br \/>\nDarren A. Melanson<\/p>\n<p>NOVA SCOtIA<br \/>\nRobert H. Santilli<br \/>\nveronica Gail Singer<\/p>\n<p>ONtArIO<br \/>\nMohammad Mohsen<br \/>\n   (Mason) Amini<br \/>\nMichael Alexander Di Staulo<br \/>\nLuke A. Di Tosto<br \/>\nMichael P. Harrison<br \/>\nOwen M. Hughes<br \/>\nWilliam James LePage<br \/>\nYu (Liza) Liang<br \/>\nDavid P. Maddiss<br \/>\nDavid M. Marco<\/p>\n<p>Students \/ \u00c9tudiants<br \/>\nThis category of membership serves as the first step on the path to designation for those completing their requirements for Candidate membership.<br \/>\nStudents considering the appraisal profession as a career option are also welcomed to this category of membership.<br \/>\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.<br \/>\nLes \u00e9tudiants qui contemplent une carri\u00e8re comme \u00e9valuateur professionnel sont bienvenus \u00e0 joindre cette cat\u00e9gorie de membre.<\/p>\n<p>Matthew R. McWatters<br \/>\nQaiser Saeed Mian<br \/>\nJonathan W. W. Sobottka<br \/>\nStacie  vanEvery<br \/>\nNancy Nan Chi Wun<\/p>\n<p>QUEBEC<br \/>\nKelley  Fawthrop<\/p>\n<p>SASKAtCHEWAN<br \/>\nWendy  Sydoruk<\/p>\n<p>accredited appraiser  Canadian institute<br \/>\nWe welcome and congratulate these individuals as fully accredited members<br \/>\nof the Institute through the granting of their AACI, P. App. designation.<br \/>\nAccueillons et f\u00e9licitons comme membres pleinement accr\u00e9dit\u00e9s de l\u2019Institut et<br \/>\nleur accordons avec fiert\u00e9 la d\u00e9signation AACI, P. App.<\/p>\n<p>ALBErtA<br \/>\nSehim Nizam Ergil<br \/>\nKevin  Kocher<br \/>\nGisele  Purdy<br \/>\nBrian  Taylor<br \/>\nJason  Tucnik<br \/>\nPatrick A. Woodlock<\/p>\n<p>BrItISH COLUMBIA<br \/>\nWilliam D. Ethier<br \/>\nJ. Glen  Neufeldt<br \/>\nGreg C. Rounis<br \/>\nEugene M. Steckley<\/p>\n<p>aaCi, P. app<\/p>\n<p>Pedro  Tavares<br \/>\nBronwen O. vaughan<\/p>\n<p>NOVA SCOtIA<br \/>\nMark C. Fielden<br \/>\nDarlene M. Ward<\/p>\n<p>ONtArIO<br \/>\nFriederike A. Baayen<br \/>\nChad  Bradshaw<br \/>\nGus  Dal Colle<br \/>\nGina W. Genge<\/p>\n<p>Monique  Rosszell<br \/>\nJulianne M. Wright<br \/>\nChung-Kei Philip Yu<\/p>\n<p>PrINCE EDWArD ISLAND<br \/>\nBoyce D. Costello<\/p>\n<p>SASKAtCHEWAN<br \/>\nTerrance E. Hegel    <\/p>\n<p>Cra<\/p>\n<p>ALBErtA<br \/>\nSheree  Boisvert<br \/>\nRoyce R. Carey<br \/>\nPatricia A. Felske<br \/>\nGlenn C. Geddes<br \/>\nGregory E. Kennedy<br \/>\nRyan S. Ramage<br \/>\nKevin  Steckler<br \/>\nCorwyn P. Warwaruk<\/p>\n<p>BrItISH COLUMBIA<br \/>\nJanet Yat Ping Au<br \/>\nJordanna L. Holmes<\/p>\n<p>Canadian residential appraiser<br \/>\nThese members are congratulated on the successful completion of the CRA<br \/>\ndesignation requirements.<br \/>\nNous f\u00e9licitons ces membres pour avoir compl\u00e9t\u00e9 avec succ\u00e8s le programme<br \/>\nmenant \u00e0 la d\u00e9signation CRA.<\/p>\n<p>Lisa Janette Martin<br \/>\nRod  True<\/p>\n<p>NOVA SCOtIA<br \/>\nJennifer J. Clarke-Hines<br \/>\nCarol Louise Wetmore<\/p>\n<p>ONtArIO<br \/>\nMary Ann  Awde<br \/>\nJenny A Barry<br \/>\nPeyman  Etemadi<br \/>\nShirley A M Hill<\/p>\n<p>Marie-Jos\u00e9e  Landry-<br \/>\n   Morneau<br \/>\nLeo W. Mirtitsch<br \/>\nChaitanya A. Patel<br \/>\nSharon L. von Schoenberg<\/p>\n<p>PrINCE EDWArD ISLAND<br \/>\nJames D. Johnston<\/p>\n<p>QUEBEC<br \/>\nMarco  Brunet<br \/>\nPatrick  Lafleur<\/p>\n<p>BrItISH COLUMBIA<br \/>\nShaun R. Blythen<\/p>\n<p>MANItOBA<br \/>\nBarjinder S. Thind<\/p>\n<p>ONtArIO<br \/>\nSomino  Chhoeng<br \/>\nJason  Zhong<\/p>\n<p>WE\u2019RE THERE<\/p>\n<p>PROPERTY TAX<br \/>\nVALUATION<\/p>\n<p>IFRS<br \/>\nCONSULTING<br \/>\nADVISORY<\/p>\n<p>When you need the most sophisticated advice regarding your<br \/>\nreal estate holdings for the transition to IFRS, only one consultancy<br \/>\nhas the technical expertise and unrivalled global platform to respond.<\/p>\n<p>With valuation professionals in 90 offices across the globe, including<br \/>\nMontreal, Ottawa, Toronto, London, Calgary, Edmonton and Vancouver,<br \/>\nCushman &#038; Wakefield Valuation &#038; Advisory group has Regional,<br \/>\nNational and Global insight.<\/p>\n<p>Our clients and professionals benefit from access to the latest<br \/>\ntechnology and resources, enabling us to deliver in-depth appraisals<br \/>\nand valuations with insightful market commentary on time and within<br \/>\nbudget.We\u2019re There.<\/p>\n<p>Sheila Botting<br \/>\nSenior Managing Director Capital Markets<br \/>\n416.359.2378<br \/>\nSheila.Botting@ca.cushwake.com<\/p>\n<p>C&#038;W LePage Ad_Canadian Property Valuation Magazine<br \/>\nFull page Ad:Size: Trim 8.25\u201d x 10.75\u201d<br \/>\nFull colour<\/p>\n<p>Right hand page_Please If possible<\/p>\n<p>www.cushmanwakefield.com\/valuation<br \/>\nClick HeRe to return to Table of Contents<\/p>\n<p>WE\u2019RE THERE<\/p>\n<p>PROPERTY TAX<br \/>\nVALUATION<\/p>\n<p>IFRS<br \/>\nCONSULTING<br \/>\nADVISORY<\/p>\n<p>When you need the most sophisticated advice regarding your<br \/>\nreal estate holdings for the transition to IFRS, only one consultancy<br \/>\nhas the technical expertise and unrivalled global platform to respond.<\/p>\n<p>With valuation professionals in 90 offices across the globe, including<br \/>\nMontreal, Ottawa, Toronto, London, Calgary, Edmonton and Vancouver,<br \/>\nCushman &#038; Wakefield Valuation &#038; Advisory group has Regional,<br \/>\nNational and Global insight.<\/p>\n<p>Our clients and professionals benefit from access to the latest<br \/>\ntechnology and resources, enabling us to deliver in-depth appraisals<br \/>\nand valuations with insightful market commentary on time and within<br \/>\nbudget.We\u2019re There.<\/p>\n<p>Sheila Botting<br \/>\nSenior Managing Director Capital Markets<br \/>\n416.359.2378<br \/>\nSheila.Botting@ca.cushwake.com<\/p>\n<p>C&#038;W LePage Ad_Canadian Property Valuation Magazine<br \/>\nFull page Ad:Size: Trim 8.25\u201d x 10.75\u201d<br \/>\nFull colour<\/p>\n<p>Right hand page_Please If possible<\/p>\n<p>www.cushmanwakefield.com\/valuation<\/p>\n<p>mailto:Sheila.Botting@ca.cushwake.com<br \/>\nhttp:\/\/www.cushmanwakefield.com\/valuation<br \/>\nmailto:Sheila.Botting@ca.cushwake.com<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada50 Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada50<\/p>\n<p>Presidential Citations<br \/>\nOutgoing President, George Maurice awarded a presidential citation to<br \/>\nBeverley Girvan, AACI, Paul Olscamp, AACI, Fellow, and Craig Soderquist,<br \/>\nAACI. The Presidential Citation is awarded by the Institute\u00a0to recognize in a<br \/>\nmeaningful way an individual or organization who has made a significant<br \/>\ncontribution to the growth and enhancement of the appraisal profession. In<br \/>\npresenting the citations, Mr. Maurice thanked each of the recipients for their<br \/>\nspecific contributions to AIC. He noted that, among Paul Olscamp\u2019s many<br \/>\ncontributions, his most notable was his leadership of the group of staff and<br \/>\nvolunteers who undertook the historical marketing feat for AIC \u2013 developing<br \/>\nand launching a new brand and image for the Institute. Beverley Girvan was <\/p>\n<p>thanked for her years of service on the AIC Board, Institute committees and<br \/>\nher most recent work with the Marketing and Communications Committee,<br \/>\nwhere she assisted with the development and launch of the new brand. He<br \/>\nalso thanked Ms. Girvan for accepting the role of Chair of this committee<br \/>\nfor the coming year, where she will continue along the course established<br \/>\nby Paul Olscamp in developing innovative marketing programs. Craig<br \/>\nSoderquist was thanked for his long-term volunteerism with the Institute<br \/>\nat local and national levels, including his most recent tenure on the Board of<br \/>\nDirectors and his new role with AIC\u2019s insurance program, where he will serve<br \/>\nas a member of the FPLIC Board.<\/p>\n<p>Recognizing <\/p>\n<p>         excellence<br \/>\nThe Appraisal Institute of Canada (AIC) Annual Conference held in<br \/>\nMont Tremblant, Quebec, from May 27 to May 30, 2009, provided the<br \/>\noccasion for AIC to recognize a number of individuals for contributions<br \/>\nto the Institute in particular and to the valuation profession in general. <\/p>\n<p>Outgoing President George Maurice, AACI, Fellow, presented<br \/>\nretiring Board member Gordon J.Tomiuk, AACI, Fellow, with a<br \/>\nplaque marking his contributions to the AIC Board (2003-2009).<\/p>\n<p>President Sheila Young, AACI, thanked Laurent Brosseau, AACI,<br \/>\nFellow, who was awarded the title of Fellow in recognition of his<br \/>\nnumerous contributions to AIC initiatives (1988-2009).  <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 51Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 51<\/p>\n<p>being named a Fellow of the Institute. Thanking him for all his work for<br \/>\nthe Institute, President Young presented him with a commemorative<br \/>\ngavel and plaque recognizing his accomplishments during his<br \/>\npresidential term. <\/p>\n<p>Retiring Board members<br \/>\nOutgoing President George Maurice introduced each of the following retir-<br \/>\ning Board members and thanked them for the contributions to the Institute,<br \/>\nas they were presented with plaques recognizing their contributions during<br \/>\ntheir tenure on the Board of Directors:<br \/>\n\u2022\t\tCraig\tSoderquist,\tAACI<br \/>\n\u2022\t\tMichel\tColgan,\tAACI<br \/>\n\u2022\t\tBeverley\tGirvan,\tAACI<br \/>\n\u2022\t\tGerald\tMcCoombs,\tAACI<br \/>\n\u2022\t\tGordon\tJ.\tTomiuk,\tAACI,\tFellow<br \/>\n\u2022\t\tPaul\tOlscamp,\tAACI,\tFellow\t<\/p>\n<p>New designates<br \/>\nThe Annual Conference provided an opportunity to recognize all who have<br \/>\nearned their designation in the past 12 months, and a ceremonial presenta-<br \/>\ntion of the designation to those attending the conference.  At the confer-<br \/>\nence luncheon on Saturday, May 30, the names of the 72 new CRA and 42<br \/>\nnew AACI members were presented to attendees in a scrolling PowerPoint<br \/>\npresentation. Outgoing President George Maurice then presented Don Edey,<br \/>\nAACI with his designation certificate. Don is employed by the Perth, Ontario<br \/>\nfirm of Rivington Associates. He joined the Institute in December 2005 and,<br \/>\nin September 2008, received his AACI designation. Congratulations were<br \/>\nextended to all AIC members on achieving their new designations during<br \/>\nthe past year. <\/p>\n<p>Volunteer recognition<br \/>\nThe Saturday awards luncheon also featured a volunteer recognition<br \/>\ncomponent, during which the names of 165 volunteers who serve on AIC<br \/>\ncommittees were presented to the members. President Young asked that<br \/>\nmembers join her in saluting the contributions of these individuals, noting<br \/>\nthe Institute\u2019s debt to the dedication of the many volunteers who devote<br \/>\ncountless hours to assisting the Institute reach its ambitious goals.  <\/p>\n<p>Fellows<br \/>\nThe title of Fellow is granted to designated members who have distin-<br \/>\nguished themselves by their exemplary contributions to the profession. This<br \/>\nis demonstrated by a high level of excellence and achievement that has<br \/>\ncontributed to the advancement of the profession.  <\/p>\n<p>Laurent Brosseau, AACI, Brossard, Quebec was awarded the title of<br \/>\nFellow in recognition of his numerous contributions to AIC initiatives.<br \/>\nIn presenting Mr. Brosseau with his Certificate of Fellowship, President<br \/>\nSheila Young spoke of his active involvement with the Institute during<br \/>\nhis long-standing tenure and his work as a Director on the AIC Board, a<br \/>\nmember of the Standards Committee, a Standards instructor, as well as<br \/>\nhis extensive contributions towards translating AIC course materials.<\/p>\n<p>Ms. Young noted that, although Mr. Brosseau retired from the Institute<br \/>\nand his position with Canada Revenue Agency late last year, he continues<br \/>\nto be actively involved with AIC and she thanked him for his tremendous<br \/>\ncontribution while serving as Chair of the Conference Planning Committee<br \/>\nfor the Mont Tremblant Conference.   <\/p>\n<p>Outgoing President George Maurice, AACI, was also honored by <\/p>\n<p>Outgoing President George Maurice, AACI, Fellow, acknowledged<br \/>\nnew AACI designate Don Edey, AACI from Perth Ontario.<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada52<\/p>\n<p>News<\/p>\n<p>IN MEMORIAM<\/p>\n<p>Les membres suivant de l\u2019Institut canadien<br \/>\ndes \u00e9valuateurs sont d\u00e9c\u00e9d\u00e9s. Au nom de<br \/>\ntous ceux qui oeuvrent de pr\u00e8s ou de loin<br \/>\nau sein de l\u2019Institut et de la profession, nous<br \/>\nexprimons nos plus sinc\u00e8res condol\u00e9ances \u00e0<br \/>\nles familles, amis et associ\u00e9s.<\/p>\n<p>The following members of the Appraisal<br \/>\nInstitute of Canada have passed away. On<br \/>\nbehalf of everyone connected with the<br \/>\nInstitute and the profession, we extend<br \/>\nour sincerest sympathies to the families,<br \/>\nfriends and associates.<\/p>\n<p>ATTENTION STUDENTS &#038; CANDIDATES<br \/>\ntHE JACK WArrEN EDUCAtIONAL trUSt<br \/>\nThe Jack Warren Educational Trust Committee would like to bring to your attention the availability of a $500.00 scholarship.<br \/>\nThe annual scholarship is available to individuals from across Canada pursuing a career in real estate appraisal.<\/p>\n<p>For more information or to obtain an official application form,  please contact the<br \/>\nAppraisal Institute of Canada \u2013 British Columbia, #845 \u2013 1200 West 73rd Avenue,<br \/>\nvancouver, BC, (604) 266-8287, or visit the Appraisal Institute of Canada \u2013<br \/>\nBritish Columbia website www.appraisal.bc.ca, click on publications,<br \/>\nbrochures and the Jack Warren Educational Trust.<\/p>\n<p>This scholarship is an annual award available to<br \/>\nall Canadian students in the real estate appraisal field.<\/p>\n<p>applications are available by contacting the<br \/>\nappraisal institute of Canada \u2013 british Columbia or by visiting<br \/>\nhttp:\/\/www.appraisal.bc.ca\/publications\/index.php\/listings?c=6<\/p>\n<p>DeaDLine For aPPLiCaTion iS auguST 31 annuaLLy.<br \/>\nDON\u2019T DELAY\u2014APPLY TODAY!<\/p>\n<p>Karl Harck, AACI, P. App<br \/>\n   White Rock, BC<br \/>\nMatthew Proudfoot, Candidate<br \/>\n   Calgary, AB<br \/>\nGeorge Godfrey Caswell, CRA<br \/>\n   Brantford, ON<br \/>\nJohn Walker, AACI, P. App<br \/>\n   Crapaud, PE<\/p>\n<p>GORDON MACNAIR APPOINTED<br \/>\nDIRECTOR WITH CITy OF OTTAWA<br \/>\nEffective July 16, 2009, Gordon MacNair, AACI, P. App. was appointed to the position of Director<br \/>\nof the Real Estate Partnerships and Development Office, City of Ottawa. <\/p>\n<p>Gord brings a wealth of experience to the position, having been a long-time employee of both<br \/>\nthe Regional Municipality of Ottawa-Carleton (RMOC) and the City of Ottawa.\u00a0In 1993, he<br \/>\nbegan his career with municipal government in Ottawa as a Property Officer for the RMOC.\u00a0Prior<br \/>\nto taking on the role of Acting Director of the Real Estate Partnerships and Development<br \/>\nOffice earlier this year, he was the Manager of Real Estate Services for the City of Ottawa.<\/p>\n<p>Reporting to the City Manager, Gord is responsible for leading key development initiatives set<br \/>\nout in Council\u2019s Strategic Plan, enhancing the value of the City\u2019s real estate assets, and setting<br \/>\nlong-range strategic real estate asset rationalization and management plans.\u00a0 <\/p>\n<p>Gord has facilitated seminars across Canada and the US for the Building Owner\u2019s &#038; Managers<br \/>\nAssociation (BOMA), International Right of Way Association (IRWA) and the Appraisal Institute<br \/>\nof Canada on real estate matters ranging from valuation, commercial leasing, and expropriation,<br \/>\nto asset management and real estate investment finance. In 2004-2005, he became one of only<br \/>\na few Canadians to serve as president of the IRWA.<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>http:\/\/www.appraisal.bc.ca<br \/>\nhttp:\/\/www.appraisal.bc.ca\/publications\/index.php\/listings?c=6<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada 53<\/p>\n<p>CRITICAL DATES<br \/>\nThe following dates are provided as<br \/>\na reminder to Appraisal Institute of<br \/>\nCanada (AIC) members of critical dates<br \/>\nthroughout the year:<\/p>\n<p>Friday, October 16, 2009 \u2013 Deadline<br \/>\nfor article submission for next issue of<br \/>\nCanadian Property Valuation magazine.<\/p>\n<p>September 30, 2009 \u2013 Candidates<br \/>\nmust successfully complete a university<br \/>\nlevel course between October 1, 2008<br \/>\nand September 30, 2009 and report same<br \/>\nelectronically as per AIC policy. <\/p>\n<p>September 30, 2009 \u2013 Due date<br \/>\nfor payment of AIC membership dues.<br \/>\neInvoices sent August 24, 2009.<\/p>\n<p>December 31, 2009 \u2013 AIC designated<br \/>\nmembers must complete and post<br \/>\nelectronically the completion of a<br \/>\nminimum six new CPD credits obtained<br \/>\nbetween January 1 and December 31,<br \/>\n2009. Random audits will take place<br \/>\nduring January 2010.<\/p>\n<p>January 1, 2010 \u2013 New Policy \u2013 As<br \/>\nof January 1, 2010, experience gained<br \/>\nas of the date of enrolment in the<br \/>\nApplied Experience Program (AEP) will<br \/>\nbe considered valid for the purpose of<br \/>\nobtaining the AACI or CRA designation.<\/p>\n<p>ViSiT uS aT:<br \/>\nwww.aicanada.ca<\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"vKJ80UZHuy\"><p><a href=\"https:\/\/www.aicanada.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Appraisal Institute of Canada\" src=\"https:\/\/www.aicanada.ca\/embed\/#?secret=QMIFP9dkgq#?secret=vKJ80UZHuy\" data-secret=\"vKJ80UZHuy\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nwww.jlr.ca<br \/>\nwww.nationwideappraisals.com<br \/>\nmailto:hr-rh@fcc-fac.ca<\/p>\n<p>Canadian Property Valuation Volume 53 | book 3 | 2009 \u00c9valuation Immobili\u00e8re au Canada54<\/p>\n<p>Calendar of Events<\/p>\n<p>*If you are viewing an electronic version of this issue on the AIC web site, please click on these listings for active links to the advertisers\u2019 web sites.<\/p>\n<p>Advertiser Information Centre<\/p>\n<p>Company    Page    Website Phone Number<br \/>\nA Bound Corporation 5 www.abound.ca 888-622-6863<br \/>\nACI 2, 3, 56 www.appraiserchoice.com 800-234-8727<br \/>\nAltus Group Ltd. 55 www.thealtusgroup.com 416-204-1100<br \/>\nAppraisal Institute 19 www.appraisalinstitute.org 888-7JOINAI<br \/>\nAtlantic Realty Advisors 37   www.ara.ca<br \/>\nBusiness Information Group 43  www.ecologeris.com 887-512-5204<br \/>\nCanadian Resource valuation Group   32 www.crvg.com 780-424-8856<br \/>\nMarshall &#038; Swift 40 www.marshallswift.com 800-544-2678<br \/>\nNotarius 43 www.notarius.com 800-567-6703<br \/>\nPersonal Home &#038; Auto Group Insurance 41 www.thepersonal.com\/aicanada   888-476-8737<br \/>\nSauder School of Business 44   www.realestate.ubc.ca 877-775-7733\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>AIC GrEEN &#038; GLOBAL IN tHE GArDEN CItY<br \/>\n2010 Appraisal Institute of Canada<br \/>\nAnnual Conference<br \/>\nJune 2-5, 2010 \u2013 Fairmont Empress Hotel<br \/>\nvictoria, British Columbia<br \/>\nFor information contact:  info@aicanada.ca  or  www.aicanada.ca<br \/>\nor 1-888-551-5521<\/p>\n<p>BC 2009 Professional Practice Seminar<br \/>\nFormerly the Standards Seminar<br \/>\nSeptember 18 and 19 \u2013 Okanagan<br \/>\nAllan Beatty, AACI, P.App<br \/>\nNovember 6 and 7 \u2013 Surrey\/Langley<br \/>\nLarry Dybvig, AACI, P.App<br \/>\nFor information contact: Kathy Porter at kathy@appraisal.bc.ca or<br \/>\n(604) 266-8287 or check www.appraisal.bc.ca\/<\/p>\n<p>AB Professional Practice Seminar (Standards)<br \/>\nFall 2009<br \/>\nDate and location TBA<br \/>\nFor information contact: AB AIC at info@appraisal.ab.ca or (403)<br \/>\n207-7892 or check  www.appraisal.ab.ca <\/p>\n<p>SK For information contact: Marilyn Steranka at skaic@sasktel.net or<br \/>\n(306) 352-4195  or check www.skaic.org\/<\/p>\n<p>MB Professional Practice Seminar<br \/>\nOctober 2 and 3, 2009<br \/>\nvictoria Inn, Winnipeg<br \/>\nAllan Beatty, AACI, P. App., Instructor<\/p>\n<p>Candidate\u2019s Forum (For Candidate Members Only)<br \/>\nWednesday, November 4, 2009\u00a0\u00a0 2:15 to 3:45 PM<br \/>\nNorwood Hotel, Winnipeg<\/p>\n<p>Manitoba Association reception and Annual General<br \/>\nMeeting<br \/>\nWednesday, November 4, 2009 4:00 to 6:30 PM<br \/>\nNorwood Hotel, Winnipeg<br \/>\nFor information contact: Executive Director at mbaic@mts.net or<br \/>\n(204) 943-1177<br \/>\nor check\u00a0www.aimanitoba.ca<\/p>\n<p>ON OA-AIC Academy<br \/>\n\u2022\tDevelopment\tApprovals\tProcess<br \/>\n\u2022\tDismissing\tan\tEmployee<br \/>\n\u2022\tCustomer\tRelationship\tBuilding<br \/>\n\u2022\tDisclosure\tand\tDisclaimers<br \/>\n\u2022\tAppraisal\tand\tthe\tHuman\tRights\tCode<br \/>\n\u2022\tNegotiation\tfor\tResults<br \/>\n\u2022\tImmigration,\tCulture\tand\tAppraisal<br \/>\n\u2022\tAchieving\tBalance:\tA\tGuide\tto\tAchieving\ta\tBalanced\tLife!<br \/>\nSeptember 18 and 19 \u2013 North Bay<\/p>\n<p>Professional Standards Seminar<br \/>\nSeptember 25 and 26 \u2013 Toronto<br \/>\nSeptember 25 and 26 \u2013 Ottawa<\/p>\n<p>Expropriation Law Update<br \/>\nLiabilities: Update for Appraisers<br \/>\nRent Control Regime in Ontario<br \/>\nRoad and Bridge Closings<br \/>\nBusiness Law<br \/>\nOctober 23 \u2013 Toronto<\/p>\n<p>Appraisers and the Ontario Human rights Code<br \/>\nUnderstanding Immigration and Culture<br \/>\nOctober 30 \u2013 Windsor<\/p>\n<p>Legal Impact of Grow House Operations\/Legal Issues to<br \/>\nConsider in the Appraisal<br \/>\nDecember 4 \u2013 Burlington<br \/>\nTo register for the above events, please go to www.oaaic.on.ca<br \/>\nFor information contact: Lorraine Rigas at lrigas@oaaic.on.ca or<br \/>\n(416) 695-9333 or check www.oaaic.on.ca<\/p>\n<p>QC For information contact: Ginette St-Jean at aqice@qc.aira.com or<br \/>\n(450) 454-0377 or check  www.aqice.ca <\/p>\n<p>NB For information contact: Jennifer Nemeth at nbarea@nb.aibn.com<br \/>\nor (506) 450-2016 or check www.nbarea.org\/main.asp<\/p>\n<p>NS For information contact: Davida Mackay at nsreaa@nsappraisal.<br \/>\nns.ca or (902) 422-4077 or check www.nsappraisal.ns.ca\/<\/p>\n<p>PEI For information contact: Suzanne Pater at peiaic@xplornet.com or<br \/>\n(902) 368-3355  <\/p>\n<p>NL For information contact: Sherry House at naaic@nf.aibn.com or<br \/>\n(709) 753-7644 <\/p>\n<p>Click HeRe to return to Table of Contents<\/p>\n<p>mailto:info@aicanada.ca<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"vKJ80UZHuy\"><p><a href=\"https:\/\/www.aicanada.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; Appraisal Institute of Canada\" src=\"https:\/\/www.aicanada.ca\/embed\/#?secret=QMIFP9dkgq#?secret=vKJ80UZHuy\" data-secret=\"vKJ80UZHuy\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nmailto:kathy@appraisal.bc.ca<br \/>\nhttp:\/\/www.appraisal.bc.ca\/<br \/>\nmailto:info@appraisal.ab.ca<br \/>\nhttp:\/\/www.appraisal.ab.ca<br \/>\nmailto:skaic@sasktel.net<br \/>\nhttp:\/\/www.skaic.org\/<br \/>\nmailto:mbaic@mts.net<br \/>\nhttp:\/\/www.aimanitoba.ca<br \/>\nhttp:\/\/www.abound.ca<br \/>\nhttp:\/\/www.appraiserchoice.com<br \/>\nhttp:\/\/www.thealtusgroup.com<br \/>\nhttp:\/\/www.appraisalinstitute.org<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"JVZvDIzlDg\"><p><a href=\"http:\/\/www.ara.ca\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; ARA - Atlantic Realty Advisors\" src=\"http:\/\/www.ara.ca\/embed\/#?secret=QLUcrqcL9V#?secret=JVZvDIzlDg\" data-secret=\"JVZvDIzlDg\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nhttp:\/\/www.ecologeris.com<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"7KeJIN9I5G\"><p><a href=\"https:\/\/crvg.com\/\">CRVG Home<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"oembed-iframe\"  class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;CRVG Home&#8221; &#8212; CRVG - Canadian Resource Valuation Group\" src=\"https:\/\/crvg.com\/embed\/#?secret=CrTu00G7he#?secret=7KeJIN9I5G\" data-secret=\"7KeJIN9I5G\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nhttp:\/\/www.marshallswift.com<br \/>\nhttp:\/\/www.notarius.com<br \/>\nhttp:\/\/www.thepersonal.com\/aicanada<br \/>\nhttp:\/\/www.realestate.ubc.ca<br \/>\nhttp:\/\/www.oaaic.on.ca<br \/>\nmailto:lrigas@oaaic.on.ca<br \/>\nhttp:\/\/www.oaaic.on.ca<br \/>\nmailto:aqice@qc.aira.com<br \/>\nhttp:\/\/www.aqice.ca<br \/>\nmailto:nbarea@nb.aibn.com<br \/>\nhttp:\/\/www.nbarea.org\/main.asp<br \/>\nhttp:\/\/www.nsappraisal.ns.ca\/<br \/>\nmailto:peiaic@xplornet.com<br \/>\nmailto:naaic@nf.aibn.com<\/p>\n<p>altusgroup.com     groupealtus.com<\/p>\n<p>As Canada\u2019s most diverse consultant with<br \/>\nnational scope in the industry, Altus has<br \/>\nunparalleled expertise in:<\/p>\n<p>Altus \u00e9tant, au Canada, la soci\u00e9t\u00e9 de conseil<br \/>\nd\u2019envergure nationale la plus diversifi\u00e9e de l\u2019industrie,<br \/>\nelle poss\u00e8de une expertise in\u00e9gal\u00e9e dans :<\/p>\n<p>> Real estate market forecasting<br \/>\n and analysis<\/p>\n<p>> Market information and<br \/>\n perspective<\/p>\n<p>> Annual property and portfolio<br \/>\n valuation<\/p>\n<p>>  The demands of the adoption of the<br \/>\nIFRS Standards, required in 2011<\/p>\n<p>> Financial due diligence<\/p>\n<p>> Legal support<br \/>\n    (including expert witness)<\/p>\n<p>> Analyse et pr\u00e9visions relatives au<br \/>\n march\u00e9 immobilier<\/p>\n<p>> Renseignements et perspectives sur le march\u00e9<\/p>\n<p>> \u00c9valuation annuelle de propri\u00e9t\u00e9s et<br \/>\n de portefeuilles<\/p>\n<p>>  Pour r\u00e9pondre aux exiges de l\u2019adoption<br \/>\ndes Normes internationals d\u2019information<br \/>\nfinanciere (IFRS) pr\u00e9vue en 2011<\/p>\n<p>> V\u00e9rification fonci\u00e8re pr\u00e9alable<\/p>\n<p>> Aide juridique<br \/>\n (notamment t\u00e9moin expert)<\/p>\n<p>Research, Valuation &#038; Advisory<br \/>\nCost Consulting<br \/>\nRealty Tax Consulting<br \/>\nGeomatics<\/p>\n<p>\u00c9valuation et fiscalit\u00e9 municipale<br \/>\nAnalyse immobili\u00e8re<br \/>\nSolutions technologiques<br \/>\nG\u00e9omatique<\/p>\n<p>Market intelligence.<br \/>\n Connaissance de march\u00e9.<br \/>\nIndustry leadership.<br \/>\n Leadership de l\u2019industrie.<br \/>\nInternational expansion.<br \/>\n Expansion internationale.<\/p>\n<p>http:\/\/www.thealtusgroup.com<\/p>\n<p>ACI and its products are trademarks or registered trademarks of ACI. | Copyright \u00a9 2009 ACI | Other brand and product names are trademarks or registered trademarks of their respective owners.<\/p>\n<p>ACI365.com The Appraiser\u2019s Choice\u2122 800-234-8727<\/p>\n<p>Marketing Postcards<br \/>\nMarket your business with E-Mail postcards. \u203a<\/p>\n<p>Send reminders for special occasions. \u203a<\/p>\n<p>Keep in touch with clients on a regular basis. \u203a<\/p>\n<p>Outlook Calendar Feature<br \/>\nAutomatically see inspection notifications populate  \u203a<br \/>\nin your Outlook calendar.<\/p>\n<p>Google Map Links in ACI365\u2122 Calendar<br \/>\nReference Google Map links in your ACI365\u2122   \u203a<br \/>\ncalendar for quick access.<\/p>\n<p>Updated Website Templates<br \/>\nChoose from dozens of templates with different themes  \u203a<br \/>\nand color combinations available to tailor to your<br \/>\ncompany\u2019s specific offerings.Web Designer<\/p>\n<p>Showcase your company\u2019s services including Product  \u203a<br \/>\nPricing, Coverage Area, Your Appraisers, and more,<br \/>\nto make your site look unique.<\/p>\n<p>Enjoy a simple set-up with our Implementation  \u203a<br \/>\nSpecialists who virtually walk you through the process<br \/>\nand stay with you until your website is up and running.<\/p>\n<p>Order Management from the Field<br \/>\nAccess, edit, &#038; manage all your orders from the field. \u203a<\/p>\n<p>Faster Payments<br \/>\nAutomatically send customizable   \u203a<br \/>\npast due E-Mail notices to clients.<\/p>\n<p>Management Reports at the<br \/>\nTouch of a Button<\/p>\n<p>Run reports on past and present appraisals,   \u203a<br \/>\nappraisers or clients.<\/p>\n<p>Better Client Communication<br \/>\nMarket to your clients quickly and easily. \u203a<\/p>\n<p>Create and manage your mailing list. \u203a<\/p>\n<p>Customize your E-Mails, select a delivery schedule,   \u203a<br \/>\nand ACI365\u2122 will do the rest.<\/p>\n<p>PayPal\u2122 Integration<\/p>\n<p>Call Today!<br \/>\nAt a fraction of the price of the competition,<br \/>\nthe ACI365\u2122 Complete Office Solution offers<br \/>\nthe most affordable option in the industry.<\/p>\n<p>Complete Solution<br \/>\nWebsite &#038; Worksite Website Only<\/p>\n<p>$249*$365*<\/p>\n<p>Includes CRAL2009\u2122 Integration<\/p>\n<p>* Payable in US Dollars<\/p>\n<p>ACI365\u2122 Your Appraisal Office \u2014Online<br \/>\nOrganize your office, gain control of your business, and have time to achieve more than you ever thought possible!<\/p>\n<p>ACI365\u2122 offers a complete appraisal office management system<br \/>\naccessible from any computer connected to the Internet.<br \/>\nProviding the ability to concisely manage every aspect of your<br \/>\nappraisal process from anywhere, anytime, ACI365\u2122 has the<br \/>\ntools you need to succeed in an ever-changing market.<\/p>\n<p>Let ACI365\u2122 help you manage your appraisal office!<\/p>\n<p>http:\/\/www.appraiserchoice.com<\/p>\n","protected":false},"featured_media":14346,"menu_order":7,"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":"no","_lmt_disable":""},"class_list":["post-30000","issue","type-issue","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/issue\/30000","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\/14346"}],"wp:attachment":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/media?parent=30000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}