Immobili\u00e8re au Canada<\/p>\n
Canadian Property
\nVol 63 | Book 1 \/ Tome 1 2019<\/p>\n
A FORENSIC APPRAISER\u2019S
\nPERSPECTIVE:
\nGOVERNMENT OVERPAID
\nFOR LAND RELYING
\nON UNAUTHORIZED
\nAPPRAISAL
\nPerspective d\u2019un
\n\u00e9valuateur judiciaire :
\nLe gouvernement a
\nsurpay\u00e9 un terrain en
\nse fiant \u00e0 une \u00e9valuation
\nnon autoris\u00e9e<\/p>\n
COMPETENCY AND THE
\nAPPRAISER
\nLa comp\u00e9tence et
\nl\u2019\u00e9valuateur<\/p>\n
VALUING THE TOUGH
\nONES: A PARTIALLY
\nRENOVATED, OLDER,
\nCUSTOM FOUR-PLEX
\nBUILDING
\n\u00c9valuation des plus
\ncomplexes : un vieux
\nquadruplex partiellement
\nr\u00e9nov\u00e9, fait sur mesure <\/p>\n
P
\nM<\/p>\n
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\na<\/p>\n
The Official Publication of the
\nAppraisal Institute of Canada \/
\nPublication officielle de l\u2019Institut
\nCanadien des \u00c9valuateurs<\/p>\n
INSTALLATIONS
\nDE CANNABIS<\/p>\n
CANNABIS
\nFACILITIES <\/p>\n
mailto:info@aicanada.ca
\nmailto:info@aicanada.ca
\nmailto:info@aicanada.ca<\/p>\n
Learn how you can experience the difference at avisonyoung.com\/valuations<\/p>\n
Avison Young Valuation & Advisory Services
\nWe offer comprehensive real estate valuation and advisory
\nconsulting services, with all property types in major markets. <\/p>\n
Our services include:<\/p>\n
Paul Stewart BA, AACI, P. App.
\nPrincipal & Practice Leader<\/p>\n
paul.stewart@avisonyoung.com
\n905.968.8030<\/p>\n
Terry Taylor B. Comm, AACI, P. App.
\nPrincipal & Director<\/p>\n
terry.taylor@avisonyoung.com
\n403.228.4001 x 210<\/p>\n
Office IndustrialMulti-Family ConsultingLand PortfolioRetail<\/p>\n
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http:\/\/avisonyoung.com\/valuations
\nmailto:paul.stewart@avisonyoung.com
\nmailto:terry.taylor@avisonyoung.com<\/p>\n
COMMERCIAL &
\nRESIDENTIAL
\nVALUATION
\nADVISORY<\/p>\n
PROPERTY TAX
\nCONSULTING<\/p>\n
EXPERT
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\nREAL PROPERTY
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Order online cdcinc.ca
\nor contact CDC direct
\nat 1-866-479-7922<\/p>\n
http:\/\/cdcinc.ca<\/p>\n
www<\/p>\n
Ready? <\/p>\n
Contact Brandi Heidler at:
\ncanada.careers@colliers.com
\nfor a confidential chat to learn <\/p>\n
more about our competitive
\ncompensation packages and <\/p>\n
the benefits of joining the
\nColliers Team. <\/p>\n
14 Offices
\n90 Professionals
\n4,500 Appraisals Each Year
\n1,250 Tax Appeals<\/p>\n
Interested in
\nbuilding value?
\nWe are actively seeking experienced
\ncommercial appraisers ready to take their
\ncareers to the next level.<\/p>\n
Accelerating success.<\/p>\n
Be inspired.
\nAt Colliers, we provide you with the tools to grow your business,
\nwhether you want to build a team and\/or become an asset type expert.
\nOur renowned educational platform, Colliers University, mentorship
\nstructure and innovative business model are just a few ways we can
\nhelp you build your career. <\/p>\n
Be collaborative.
\nWork with a fun and supportive team of professionals across North
\nAmerica who are ready to lend a hand and share their expertise.
\nThis gives you the opportunity to work on a variety of asset classes
\nwith the support of our specialty asset type leaders. <\/p>\n
Be entrepreneurial.
\nWe give you the freedom and flexibility to build and manage your
\ncareer. Our role is to give you every advantage necessary to
\naccomplish your work efficiently so you can take that next step. <\/p>\n
Colliers International Canada
\nValuation & Advisory Services<\/p>\n
collierscanada.com\/vas<\/p>\n
http:\/\/collierscanada.com\/vas
\nmailto:canada.careers@colliers.com<\/p>\n
The articles printed in
\nthis issue represent
\nauthors\u2019 opinions only
\nand are not necessarily
\nendorsed by the
\nAppraisal Institute
\nof Canada. Copyright
\n2019 by the Appraisal
\nInstitute of Canada.
\nAll rights reserved.
\nReproduction in whole
\nor in part without
\nwritten permission
\nis strictly prohibited.
\nSubscription, $40.00 per
\nyear. Printed in Canada. <\/p>\n
Les articles imprim\u00e9s dans
\nce num\u00e9ro ne rep\u00e9sentent
\nque l\u2019opinion de leur auteur
\nrespectif, mais ne sont pas
\nn\u00e9ces\u2013sairement endoss\u00e9s
\npar l\u2019Institut Canadien des
\n\u00c9valuateurs. Tous droits
\nreserv\u00e9s 2019 par l\u2019Institut
\nCanadien des \u00c9valuateurs.
\nLa reproduction totale ou
\npartielle sous quelque
\nform que se soit sans
\nauthorisation \u00e9crite est
\nabsolument interdite.
\nAbonnement $40.00 par
\nann\u00e9e. Imprim\u00e9 au Canada.<\/p>\n
* The Appraisal Institute of
\nCanada reserves the right
\nto reject advertising that it
\ndeems to be inappropriate.<\/p>\n
** The publisher and the
\nAppraisal Institute of Canada
\ncannot be held liable for
\nany material used or claims
\nmade in advertising included
\nin this publication.Indexed
\nin the Canadian Business
\nIndex and available on-line
\nin the Canadian Business &
\nCurrent Affairs database.
\nISSN 0827-2697<\/p>\n
Publication Mails Agreement
\n#40008249<\/p>\n
Return undeliverable
\nCanadian addresses to:
\nAppraisal Institute of Canada
\n403-200 Catherine St.,
\nOttawa, ON K2P 2K9.
\nEmail: info@aicanada.ca<\/p>\n
Director – Communications:
\nPaul H\u00e9bert, Ottawa<\/p>\n
Publication management,
\ndesign and production by:
\nDirection, conception et
\nproduction par :<\/p>\n
3rd Floor \u2013 2020 Portage
\nAvenue, Winnipeg,
\nMB R3J 0K4
\nPhone: 866-985-9780
\nFax: 866-985-9799
\nE-mail: info@kelman.ca
\nWeb: www.kelman.ca<\/p>\n
Managing Editor:
\nCraig Kelman<\/p>\n
Design\/Layout:
\nTabitha Robin<\/p>\n
Marketing Manager:
\nKris Fillion<\/p>\n
Advertising Co-ordinator:
\nStefanie Hagidiakow<\/p>\n
08 Executive Corner
\nConstantly evolving to
\nremain competitive<\/p>\n
38 Professional Practice
\nMatters
\nCompetency and the
\nappraiser<\/p>\n
42 Marketing &
\nCommunications
\nAIC by the Numbers<\/p>\n
44 Legal Matters
\nContamination
\nremediation costs
\nand expropriation
\ncompensation<\/p>\n
50 Advocacy
\nAdvocacy in Action<\/p>\n
54 The Future Is Bright
\nTyler Cockburn, AACI,
\nP.App: Time management
\nskills and diversified
\nservice are keys to
\ncareer success<\/p>\n
62 Designations\/
\nCandidates\/Students<\/p>\n
65 News
\n\u2022 Spotlight on Continuing
\n Professional Development
\n\u2022 In Memoriam<\/p>\n
10\t Le coin de l\u2019ex\u00e9cutif
\nEn constante \u00e9volution
\npour rester comp\u00e9titif <\/p>\n
40\t Parlons de la pratique
\nprofessionelle
\nLa comp\u00e9tence et l\u2019\u00e9valuateur<\/p>\n
42 Marketing et communications
\nL\u2019ICE en chiffres<\/p>\n
47 Questions juridiques
\nCo\u00fbts de d\u00e9contamination
\net indemnisation en cas
\nd’expropriation <\/p>\n
52 D\u00e9fense
\nD\u00e9fense des int\u00e9r\u00eats \u00e0 l\u2019\u0153uvre<\/p>\n
58 L\u2019avenir s\u2019annonce bien
\nTyler Cockburn, AACI, P.App :
\nLa gestion du temps et le
\nservice diversifi\u00e9 sont la
\ncl\u00e9 de la r\u00e9ussite<\/p>\n
62\t D\u00e9signations,
\nstagiaires, \u00e9tudiants<\/p>\n
65\t Nouvelles
\n\u2022 Pleins feux sur le
\n perfectionnement
\n professionnel continu
\n\u2022 En m\u00e9moire<\/p>\n
A forensic appraiser\u2019s perspective:
\ngovernment overpaid for land relying
\non unauthorized appraisal<\/p>\n
Perspective d\u2019un \u00e9valuateur judiciaire :
\nLe gouvernement a surpay\u00e9 un terrain en
\nse fiant \u00e0 une \u00e9valuation non autoris\u00e9e<\/p>\n
Canadian cannabis production
\nand research facilities <\/p>\n
Installations canadiennes
\nde production et de recherche
\nsur le cannabis <\/p>\n
12<\/p>\n
26<\/p>\n
20<\/p>\n
COLUMNS CHRONIQUES<\/p>\n
Valuing the tough ones:
\na partially renovated, older,
\ncustom four-plex building<\/p>\n
\u00c9valuation des plus complexes :
\nun vieux quadruplex partiellement
\nr\u00e9nov\u00e9, fait sur mesure<\/p>\n
mailto:info@aicanada.ca
\nmailto:info@kelman.ca
\nhttp:\/\/www.kelman.ca<\/p>\n
Join us at the 2019 AIC Conference \u2013 Navigating the Future and network with appraisal professionals across Canada in
\nbreathtaking St. John\u2019s, Newfoundland and Labrador. Enjoy an <\/p>\n
education program geared towards the future of the appraisal industry.
\nThe Appraisal Institute of Canada is proud to announce its <\/p>\n
Keynote Speaker for the 2019 AIC Conference \u2013 Brad Gushue:
\nOlympic champion, Tim Hortons Brier champion for 2017 and
\n2018, and currently ranked #1 curler in the world.<\/p>\n
An impressive curling career has rewarded Brad with many
\nmajor accomplishments while representing Canada on the World
\ncurling circuit. In 2006, incredible teamwork and leadership
\nwon his team the gold medal at the Olympic Games. It marked
\nthe first time that a Canadian team has won the gold medal for
\nmen\u2019s curling. With his teammates, he also became the first
\nNewfoundlander ever to win an Olympic gold medal.<\/p>\n
At the 2018 Tim Hortons Brier, Brad set a new record
\nfor Brier game wins as a skip, breaking a three-way tie with
\nprevious record-holders. He and his rink also won the 2017
\nFord World Men\u2019s Curling Championship.<\/p>\n
During his presentation, Brad will share his thoughts on how
\nfocusing on building a strong team, mentoring teamwork, and
\novercoming all obstacles in high pressure environments was key
\nto their top performance. Brad inspires his audience through his
\nstories of leadership and how to prepare a team to succeed.<\/p>\n
The 2019 AIC Conference is also a great way to earn your
\nCPD credits for the year as there are many sessions that cater
\nto residential, non-residential and non-fee areas of interest.
\nAs a Conference delegate, you will earn 14 discretionary CPD
\ncredits. If attending the entire conference is not possible, we
\nalso have daily registration options to best suit your needs. <\/p>\n
In addition to these educational sessions, there will also be a
\nnumber of networking opportunities including a golf tournament
\nat The Wilds, a pre-conference hiking activity, a welcome reception
\nthat provides opportunities to reconnect with colleagues and
\nmake new connections, and a Newfoundland Kitchen Party for the
\nnetworking night that will take place at The Rooms.<\/p>\n
The 2019 AIC Conference is certain to be one of the top
\nCanadian valuation events of the year! We look forward to
\nseeing you in St. John\u2019s!<\/p>\n
Joignez-vous \u00e0 nous au Congr\u00e8s 2019 de l\u2019ICE – Naviguer le futur et faites du r\u00e9seautage avec des professionnels de l\u2019\u00e9valuation de partout
\nau Canada \u00e0 St. John\u2019s (Terre-Neuve et Labrador). Profitez d\u2019un <\/p>\n
programme de formation ax\u00e9 sur l\u2019avenir de l\u2019industrie de l\u2019\u00e9valuation.
\nL\u2019Institut canadien des \u00e9valuateurs est fier d\u2019annoncer son <\/p>\n
conf\u00e9rencier principal au Congr\u00e8s 2019 de l\u2019ICE – Brad Gushue :
\nChampion olympique, champion du Tournoi Tim Horton\u2019s en 2017 et
\n2018, et pr\u00e9sentement class\u00e9 #1 mondial au curling. <\/p>\n
Une impressionnante et longue carri\u00e8re de curling a permis \u00e0 Brad de
\nnombreuses r\u00e9alisations majeures, y compris de repr\u00e9senter le Canada sur
\nle circuit mondial de curling. En 2006, son \u00e9quipe a remport\u00e9 la m\u00e9daille d\u2019or
\naux Jeux olympiques gr\u00e2ce \u00e0 un incroyable travail d\u2019\u00e9quipe et \u00e0 son leadership.
\nC\u2019\u00e9tait la premi\u00e8re fois qu\u2019une \u00e9quipe canadienne remportait la m\u00e9daille
\nd\u2019or en curling masculin. Avec ses co\u00e9quipiers, il est aussi devenu le premier
\nTerre-Neuvien \u00e0 remporter une m\u00e9daille d\u2019or olympique. <\/p>\n
Au Tournoi Tim Horton\u2019s 2018, Brad a \u00e9tabli un nouveau record de
\nvictoires en tant que capitaine, brisant une \u00e9galit\u00e9 \u00e0 trois avec les d\u00e9tenteurs
\nde records pr\u00e9c\u00e9dents. En 2017, son \u00e9quipe et lui ont \u00e9galement remport\u00e9 le
\nChampionnat du monde de curling masculin Ford. <\/p>\n
Au cours de sa pr\u00e9sentation, Brad partage ses r\u00e9flexions sur
\nla fa\u00e7on dont le fait de se concentrer sur la formation d\u2019une \u00e9quipe
\nsolide, le mentorat du travail en \u00e9quipe et le fait de surmonter tous les
\nobstacles dans des environnements \u00e0 haute pression a \u00e9t\u00e9 la cl\u00e9 de leur
\nperformance sup\u00e9rieure. Brad inspire son auditoire par ses histoires sur
\nle leadership et sur la fa\u00e7on de pr\u00e9parer une \u00e9quipe \u00e0 r\u00e9ussir. <\/p>\n
Le Congr\u00e8s 2019 de l\u2019ICE est aussi un excellent moyen d\u2019obtenir vos cr\u00e9dits
\nde PPC pour l\u2019ann\u00e9e puisqu\u2019il y a plusieurs sessions qui s\u2019adressent aux
\nsecteurs r\u00e9sidentiels, non r\u00e9sidentiels et r\u00e9mun\u00e9r\u00e9. En tant que d\u00e9l\u00e9gu\u00e9(e) au
\nCongr\u00e8s, vous obtiendrez 14 cr\u00e9dits facultatifs de PPC. S\u2019il vous est impossible
\nd\u2019assister \u00e0 l\u2019int\u00e9gralit\u00e9 du Congr\u00e8s, nous avons \u00e9galement des options
\nd\u2019inscription quotidienne pour r\u00e9pondre au mieux \u00e0 vos besoins. <\/p>\n
En plus de ces s\u00e9ances \u00e9ducatives, il y aura aussi un certain nombre
\nd\u2019occasions de r\u00e9seautage, dont un tournoi de golf \u00e0 The Wilds, une activit\u00e9 de
\nrandonn\u00e9e pr\u00e9congr\u00e8s, une r\u00e9ception de bienvenue qui permettra de renouer
\navec des coll\u00e8gues et d\u2019\u00e9tablir de nouveaux liens, et une soir\u00e9e de cuisine
\nterre-neuvienne lors de la soir\u00e9e de r\u00e9seautage qui aura lieu \u00e0 The Rooms. <\/p>\n
Le Congr\u00e8s 2019 de l\u2019ICE sera certainement l\u2019un des \u00e9v\u00e9nements
\nd\u2019\u00e9valuation les plus importants de l\u2019ann\u00e9e au Canada ! Au plaisir de
\nvous voir \u00e0 St. John\u2019s !<\/p>\n
BRAD GUSHUE <\/p>\n
REGISTER TODAY!
\nEarly Bird Rate available until April 17, 2019! <\/p>\n
Visit https:\/\/www.aicanada.ca\/2019-aic-conference <\/p>\n
INSCRIVEZ-VOUS D\u00c8S AUJOURD\u2019HUI !
\nTarif pr\u00e9f\u00e9rentiel disponible jusqu\u2019au 17 avril 2019 ! <\/p>\n
Visitez https:\/\/www.aicanada.ca\/2019-aic-conference <\/p>\n
Canadian Property Valuation | \u00c9valuation Immobili\u00e8re au Canada 6 Return to CONTENTSCanadian Property Valuation | \u00c9valuation Immobili\u00e8re au Canada 6<\/p>\n
https:\/\/www.aicanada.ca\/2019-aic-conference
\nhttps:\/\/www.aicanada.ca\/2019-aic-conference<\/p>\n
Return to CONTENTS Volume 63 | Book 1 \/ Tome 1 | 2019 7<\/p>\n
2019 ANNUAL GENERAL MEETING AGENDA<\/p>\n
1. Call to Order
\n2. Chair\u2019s Opening Remarks
\n3. Introduction of Past Presidents and Guests
\n4. Introduction of 2018-2019 Board of Directors
\n5. Introduction of Parliamentarian, <\/p>\n
Sergeant at Arms and Scrutineers
\n6. Moment of Silence in Honour of Deceased Members
\n7. Confirmation of Quorum and Proxy\/Electronic Voting
\n8. Approval of Agenda
\n9. Approval of the Minutes of the 2018 Annual General Meeting
\n10. Business Arising from the Minutes
\n11. President\u2019s Report
\n12. CEO\u2019s Report
\n13. Report on Insurance Subsidiaries (FPLIC and Verity)
\n14. Presentation and Receipt of Audited Statements for the <\/p>\n
Year Ending December 31, 2018
\n15. Appointment of Public Accountant for Year Ending <\/p>\n
December 31, 2019
\n16. Election of the Board of Directors of the <\/p>\n
Appraisal Institute of Canada.
\n17. New Business
\n18. Adjournment <\/p>\n
ORDRE DU JOUR DE L\u2019ASSEMBL\u00c9E G\u00c9N\u00c9RALE ANNUELLE 2019 <\/p>\n
1. Rappel \u00e0 l\u2019ordre
\n2. Mot d\u2019ouverture du pr\u00e9sident
\n3. Pr\u00e9sentation des anciens pr\u00e9sidents et invit\u00e9s
\n4. Pr\u00e9sentation du Conseil d\u2019administration 2018-2019
\n5. Pr\u00e9sentation du parlementaire, du sergent d\u2019armes et des scrutateurs
\n6. Moment de silence en l\u2019honneur des membres d\u00e9c\u00e9d\u00e9s
\n7. Confirmation du quorum et du vote par procuration\/vote \u00e9lectronique
\n8. Approbation de l\u2019ordre du jour
\n9. Approbation du proc\u00e8s-verbal de l\u2019Assembl\u00e9e g\u00e9n\u00e9rale annuelle de 2018
\n10. Affaires d\u00e9coulant du proc\u00e8s-verbal
\n11. Rapport du pr\u00e9sident
\n12. Rapport du chef de la direction
\n13. Rapport sur les filiales d\u2019assurance (FPLIC et Verity)
\n14. Pr\u00e9sentation et r\u00e9ception des \u00e9tats financiers v\u00e9rifi\u00e9s <\/p>\n
pour l\u2019exercice se terminant le 31 d\u00e9cembre 2018
\n15. Nomination d\u2019un expert-comptable pour l\u2019exercice <\/p>\n
se terminant le 31 d\u00e9cembre 2019
\n16. \u00c9lection du Conseil d\u2019administration de l\u2019Institut canadien des \u00e9valuateurs
\n17. Nouveaux sujets
\n18. Ajournement<\/p>\n
St. John\u2019s, NL
\nJUNE 5-8, 2019 | DU 5 AU 8 JUIN 2019<\/p>\n
Constantly evolving
\nto remain competitive<\/p>\n
P
\ne<\/p>\n
te
\nr <\/p>\n
M
\nc<\/p>\n
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\ne<\/p>\n
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\nn<\/p>\n
,
\nA<\/p>\n
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\nC<\/p>\n
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\n P<\/p>\n
.A
\np<\/p>\n
p<\/p>\n
BY PETER MCLEAN, AACI, P.APP, President<\/p>\n
AND KEITH LANCASTLE, MBA, CAE, AACI (HON.), Chief Executive Officer<\/p>\n
K
\ne<\/p>\n
ith
\n L<\/p>\n
a
\nn<\/p>\n
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\na<\/p>\n
stle
\n, A<\/p>\n
A
\nC<\/p>\n
I (H
\no<\/p>\n
n
\n.)<\/p>\n
Over the past several years,
\nthe Appraisal Institute
\nof Canada (AIC)
\nhas undertaken a
\nsignificant re-
\nengineering and
\nre-focusing. This
\nis coming at a time
\nwhen the demands
\non the profession <\/p>\n
are changing rapidly
\n\u2013 and based on what
\nstakeholders are saying,
\nthe pace of change is only
\ngoing to increase. <\/p>\n
The AIC Board and
\nstaff have been focused
\non four areas intended
\nto help AIC Members <\/p>\n
continue to compete
\nin a dynamic
\nmarketplace. <\/p>\n
Promotion of Members<\/p>\n
This pillar is aimed at promoting the
\ndiverse range of services you can provide
\nto your clients. <\/p>\n
We have focused our attention on the
\nstakeholders that actually engage our <\/p>\n
Members \u2013 lenders, brokers, etc. We
\nlaunched a new website in 2018 and we
\nhave taken a much more active role on
\nsocial media to drive traffic to the site. <\/p>\n
All of these efforts, combined with our
\ncomprehensive advertising campaign,
\nproduced nearly 23 million digital impressions
\nin 2018. That is the number of times that the
\nmessage \u201cAACIs or CRAs are the professionals
\nof choice\u201d was seen and\/or heard. <\/p>\n
Diversification of the profession<\/p>\n
This is an area of which we are particularly
\nproud \u2013 and this is the area that is most
\ncritical to the future of the profession.<\/p>\n
Over the past several years, the Board
\nhas expanded the Canadian Uniform
\nStandards of Professional Appraisal Practice
\n(CUSPAP) to include new standards for
\nReserve Fund Studies, for Machinery and
\nEquipment, and for Mass Appraisal. <\/p>\n
Each of these areas builds on the skills
\nwe have as appraisers and helps us to
\nmove beyond the traditional work that
\nhas been under so much pressure. Put
\nanother way, these standards present new
\nbusiness opportunities and areas where
\nMembers can expand their practices.<\/p>\n
It is AIC\u2019s responsibility to help
\nidentify opportunities for growth and
\ndiversification. But, it falls to each of us to
\ndecide how we will respond. <\/p>\n
Advocacy <\/p>\n
Over the past few years, AIC has made
\ngreat strides in making its voice
\nheard in the public policy arena.
\nIncreasingly, we are seen as
\ntrusted and credible advisors to
\nthe federal government. <\/p>\n
Advocacy is about advancing
\nthe public good and creating
\nbetter alignment between
\nour work\/interests and
\npublic policy. Achieving this
\nobjective requires ongoing,
\npersistent and consistent
\nwork over the long term.
\nDecision-makers need to
\nhear the same message,
\nwhether it is being
\ndelivered by the national
\noffice, provincial affiliates, or
\nindividual Members.<\/p>\n
Last year, AIC
\nappeared before the House
\nof Commons Standing
\nCommittee on Finance, worked
\nwith Provincial affiliates to
\nmake numerous submissions to
\ngovernment at both the federal
\nand provincial level, and
\nhad scores of meetings
\nwith Parliamentarians
\nand Provincial MLAs <\/p>\n
Canadian Property Valuation | \u00c9valuation Immobili\u00e8re au Canada 8 Return to CONTENTS<\/p>\n
EXECUTIVE CORNER<\/p>\n
and MPPs. In our messaging, we spoke out
\nin favour of Canada\u2019s regulatory regime \u2013
\nnot because it is good for us, but because
\nit protects the market and Canadians. We
\npointed to the failures in other countries and
\nspoke to why the Canadian solution continues
\nto make sense.<\/p>\n
Since the advent of the B20 regulations,
\nwe have seen a shift in the marketplace;
\nborrowers are increasingly seeking financing
\noptions from non OSFI-regulated lenders.
\nSome of these lenders do not apply the
\nsame rigour in their mortgage and finance
\nunderwriting as the major lenders. In some
\ncases, they may grant credit based solely on
\nthe value of collateral and\/or may not even
\nconsider the borrower\u2019s creditworthiness.
\nCompounding these issues is the fact that
\nsome of these lenders may grant loans at
\nelevated and risky Loan to Value (LTV) ratios
\n\u2013 sometimes up to 100%. These practices
\ncan lead to increased default rates, which
\nincreases the liability exposure for our
\nMembers, and can destabilize the economy. <\/p>\n
We have been more active on the
\nadvocacy front in 2018 than ever before,
\nand we are increasingly at the right tables,
\nhaving the right conversations with the
\nright people. <\/p>\n
I encourage you to turn to page 50 for
\nan overview of all these activities and
\nrelated accomplishments, including our
\ncollaborations with Provincial affiliates.<\/p>\n
Vibrant and engaged membership <\/p>\n
AIC continues to grow at a time when most
\norganizations in our space are, at best,
\nholding their own. Despite retirements and
\nattrition, we are still growing \u2013 albeit slowly.<\/p>\n
However, we know we cannot take this
\nfor granted and that is why we are focused
\non the \u2018membership experience.\u2019 In other
\nwords, how we deal with you, and how we
\ndeliver on our services.<\/p>\n
We have worked to improve the insurance
\nprogram, and, while many members see
\ninsurance as a necessary evil, we are
\nconfident that we have a first class program
\nthat is there to protect you, and your family,
\nin the event you face a claim.<\/p>\n
There is a myth out there that \u2018bad\u2019 appraisers
\ndoing \u2018bad\u2019 work are the only ones that get sued.
\nThis could not be further from the truth; all
\nappraisers, including the most professional and
\ndiligent, face real liability risks. When litigation
\narises, there is a need to aggressively defend the
\naction in order to keep costs down.<\/p>\n
Changes to our program in recent years have
\nincreased our access to reliable aggregate data
\non the causes of claims as well as on strategies
\nto reduce the risks and costs of claims. This data
\nis helping AIC to develop programs and policies
\nthat will further enhance the AIC Professional
\nLiability Insurance Program.<\/p>\n
Improved data is giving us better insight into
\nclaims and that has translated into very stable
\npremiums at a time when markets across the
\ncountry have been quite volatile. <\/p>\n
And, we have continued to make changes
\nin an effort to reduce your liability exposure;
\nthe most recent changes being to the <\/p>\n
mandatory 0518 forms. The latest version
\nof the forms and accompanying limiting
\nconditions include a number of measures
\naimed at protecting Members and
\nlimiting exposure, while enabling quality
\nwork that responds to client needs. <\/p>\n
One of our marketing planks is
\nbased, in part, on the excellence of
\nour education process. This is an area
\nwhere we are global leaders through our
\nongoing partnerships with two leading
\nuniversities: UBC and ULaval. We remain
\nfocused on providing the best service we
\ncan, because we believe that is the key to
\nensuring a thriving and vibrant appraisal
\nprofession in Canada.<\/p>\n
Over the past few years, we have
\nachieved a lot, but there is much more that
\nwe need to do, and that you have asked us to
\ndo. Standing pat is not an option; change is
\ncoming and we must be ready to respond. <\/p>\n
Suite 101, 24 Inglewood Drive, St. Albert, AB T8N 6K4<\/p>\n
Please send resumes to: info@crvg.com
\nAACI & Candidates<\/p>\n
Tel: (780) 424-8856 \u2022 Fax: (587) 290-2267<\/p>\n
Volume 63 | Book 1 \/ Tome 1 | 2019 9Return to CONTENTS<\/p>\n