Vol 66 | Book 2 \/ Tome 2 | 2022<\/p>\n
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9<\/p>\n
The Official Publication of the
\nAppraisal Institute of Canada \/
\nPublication officielle de l\u2019Institut
\nCanadien des \u00c9valuateurs<\/p>\n
USING PROBABILITY
\nDISTRIBUTION AND
\nVARIANCE TO SELECT
\nTHE BEST OVERALL
\nCAPITALIZATION RATE
\nOF A PROPERTY
\nUtiliser la distribution
\nde probabilit\u00e9 et la
\nvariance pour s\u00e9lectionner
\nle meilleur taux de
\ncapitalisation global
\nd’une propri\u00e9t\u00e9 <\/p>\n
COLLATERAL DAMAGE:
\nA BRIEF HISTORY
\nAND THE EFFECTS OF
\nHOUSING DISCRIMINATION
\nIN CANADA
\nDommages collat\u00e9raux :
\nune br\u00e8ve histoire et les
\neffets de la discrimination
\nen mati\u00e8re de logement
\nau Canada<\/p>\n
FAITSFAITS
\nMYTH<\/p>\n
ES
\nMYTH<\/p>\n
ESMYTH
\nS<\/p>\n
FACTS<\/p>\n
APPRAISER<\/p>\n
LIABILITY MYTHS<\/p>\n
MYTHES SUR LA
\nRESPONSABILIT\u00c9
\nDES \u00c9VALUATEURS<\/p>\n
Immobili\u00e8re au Canada<\/p>\n
Canadian Property<\/p>\n
mailto:canada.valuation@avisonyoung.com<\/p>\n
\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
\ufffd\ufffd\ufffd\ufffd
\n\ufffd\t\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd \ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd
\n\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
For more information, please contact:<\/p>\n
Dave Black
\nAACI, P. App., MRICS
\nExecutive Vice President & National Practice Lead
\nJLL Valuation Advisory
\nDave.Black@am.jll.com
\njll.ca\/value<\/p>\n
\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd\ufffd<\/p>\n
mailto:Dave.Black@am.jll.com
\nhttp:\/\/jll.ca\/value<\/p>\n
Colliers recently introduced new market leading report
\nwriting software which upon its introduction increased
\naverage report production speeds by upwards of 30%.
\nColliers AACI designated appraisers in Canada had an
\naverage net compensation in 2020 in excess of $200,000.
\nReach out today to learn how to leverage Colliers brand,
\ntechnology and resources to take your career to the next
\nlevel.<\/p>\n
Contact Brandi Skaggs at Brandi.Skaggs@colliers.com
\nto learn more about joining Valuation & Advisory Services
\nat Colliers International.<\/p>\n
colliers.com<\/p>\n
Be the expert
\nColliers is seeking motivated appraisers to join our
\nValuation and Advisory Services team.<\/p>\n
mailto:Brandi.Skaggs@colliers.com
\nhttp:\/\/colliers.com<\/p>\n
The articles printed in
\nthis issue represent
\nauthors\u2019 opinions only
\nand are not necessarily
\nendorsed by the
\nAppraisal Institute
\nof Canada. Copyright
\n2022 by the Appraisal
\nInstitute of Canada.
\nAll rights reserved.
\nReproduction in whole
\nor in part without
\nwritten permission
\nis strictly prohibited.
\nSubscription, $40.00 per
\nyear. Printed in Canada. <\/p>\n
Les articles imprim\u00e9s dans
\nce num\u00e9ro ne rep\u00e9sentent
\nque l\u2019opinion de leur auteur
\nrespectif, mais ne sont pas
\nn\u00e9ces\u2013sairement endoss\u00e9s
\npar l\u2019Institut Canadien des
\n\u00c9valuateurs. Tous droits
\nreserv\u00e9s 2022 par l\u2019Institut
\nCanadien des \u00c9valuateurs.
\nLa reproduction totale ou
\npartielle sous quelque
\nform que se soit sans
\nauthorisation \u00e9crite est
\nabsolument interdite.
\nAbonnement $40.00 par
\nann\u00e9e. Imprim\u00e9 au Canada.<\/p>\n
* The Appraisal Institute of
\nCanada reserves the right
\nto reject advertising that it
\ndeems to be inappropriate.<\/p>\n
** The publisher and the
\nAppraisal Institute of Canada
\ncannot be held liable for
\nany material used or claims
\nmade in advertising included
\nin this publication.Indexed
\nin the Canadian Business
\nIndex and available on-line
\nin the Canadian Business &
\nCurrent Affairs database.
\nISSN 0827-2697<\/p>\n
Publication Mails Agreement
\n#40008249<\/p>\n
Return undeliverable
\nCanadian addresses to:
\nAppraisal Institute of Canada
\n403-200 Catherine St.,
\nOttawa, ON K2P 2K9. <\/p>\n
Director \u2013 Communications:
\nPaul H\u00e9bert, Ottawa<\/p>\n
Communications Officer:
\nHaddy John, Ottawa<\/p>\n
Publication management,
\ndesign and production by:
\nDirection, conception et
\nproduction par :<\/p>\n
3rd Floor \u2013 2020 Portage
\nAvenue, Winnipeg,
\nMB R3J 0K4
\nPhone: 866-985-9780
\nFax: 866-985-9799
\nE-mail: info@kelman.ca
\nWeb: www.kelman.ca<\/p>\n
Managing Editor:
\nCraig Kelman<\/p>\n
Design\/Layout:
\nJackie Magat<\/p>\n
Marketing Manager:
\nKris Fillion<\/p>\n
Advertising Co-ordinator:
\nStefanie Hagidiakow<\/p>\n
7 Executive Corner
\nAn interview with outgoing AIC President
\nAndr\u00e9 Pouliot, AACI, P.App (Fellow)<\/p>\n
28 Equity, Diversity and Inclusion (EDI)
\nCollateral damage: A brief history and the effects of housing
\ndiscrimination in Canada <\/p>\n
36 Advocacy
\nAdvocacy highlights of 2021 and 2022<\/p>\n
40 Legal Matters
\nExpert witness immunity<\/p>\n
46 The Future is Bright
\nAlexe Pelley, Candidate<\/p>\n
52 News
\n\u2022 Conference keynotes and Annual General Meeting Agenda
\n\u2022 2022 Tyler Beatty Award Recipients
\n\u2022 Important Dates
\n\u2022 In Memoriam<\/p>\n
61 Designations, Candidates, Students<\/p>\n
10 Le coin de l\u2019\u00e9xecutif
\nUn entretien avec le pr\u00e9sident sortant de l\u2019ICE
\nAndr\u00e9 Pouliot, AACI, P.App (Fellow)<\/p>\n
32 \u00c9quit\u00e9, diversit\u00e9 et inclusion (EDI)
\nDommages collat\u00e9raux : une br\u00e8ve histoire et les effets
\nde la discrimination en mati\u00e8re de logement au Canada<\/p>\n
38 D\u00e9fense des int\u00e9r\u00eats
\nFaits saillants 2021 et 2022<\/p>\n
43 Questions juridiques
\nL\u2019immunit\u00e9 du t\u00e9moin expert<\/p>\n
49 L\u2019avenir est prometteur
\nAlexe Pelley, membre stagiaire<\/p>\n
52 Nouvelles
\n\u2022 Nos conf\u00e9renciers et l’Ordre du jour de l’Assembl\u00e9e g\u00e9n\u00e9rale annuelle
\n\u2022 R\u00e9cipiendaires du prix Tyler Beatty pour 2022
\n\u2022 Dates importantes
\n\u2022 En m\u00e9moire<\/p>\n
61 D\u00e9signations, stagiaires, \u00e9tudiants<\/p>\n
COLUMNS CHRONIQUES<\/p>\n
Do not let these four appraiser
\nliability myths trip you up <\/p>\n
Ne laissez pas ces quatre mythes
\nsur la responsabilit\u00e9 des \u00e9valuateurs
\nvous faire tr\u00e9bucher <\/p>\n
14<\/p>\n
Collateral damage: a brief history and
\nthe effects of housing discrimination
\nin Canada <\/p>\n
Using probability distribution and
\nvariance to select the best overall
\ncapitalization rate of a property
\nUtiliser la distribution de probabilit\u00e9 et la
\nvariance pour s\u00e9lectionner le meilleur taux
\nde capitalisation global d’une propri\u00e9t\u00e9 <\/p>\n
28<\/p>\n
20<\/p>\n
Colliers recently introduced new market leading report
\nwriting software which upon its introduction increased
\naverage report production speeds by upwards of 30%.
\nColliers AACI designated appraisers in Canada had an
\naverage net compensation in 2020 in excess of $200,000.
\nReach out today to learn how to leverage Colliers brand,
\ntechnology and resources to take your career to the next
\nlevel.<\/p>\n
Contact Brandi Skaggs at Brandi.Skaggs@colliers.com
\nto learn more about joining Valuation & Advisory Services
\nat Colliers International.<\/p>\n
colliers.com<\/p>\n
Be the expert
\nColliers is seeking motivated appraisers to join our
\nValuation and Advisory Services team.<\/p>\n
mailto:info@kelman.ca
\nhttp:\/\/www.kelman.ca<\/p>\n
http:\/\/www.cdcinc.ca<\/p>\n
An interview with
\noutgoing AIC President
\nAndr\u00e9 Pouliot,
\nAACI, P.App (Fellow)<\/p>\n
Having the opportunity to share the AIC’S viewpoint was the culmination of a great
\ndeal of work by previous boards, committees and staff.<\/p>\n
We now have a roadmap that will inform our
\nstrategy in the short- and long-term.<\/p>\n
EXECUTIVE CORNER<\/p>\n
Q: How would you describe your <\/p>\n
experiences as president this past <\/p>\n
year from both a professional and <\/p>\n
personal standpoint?<\/p>\n
In a word \u2018positive.\u2019 As president, I routinely
\ninteracted with our staff, volunteers, and
\nstakeholders, and, over the past year, the
\ngeneral feeling is that the future holds
\nopportunities for the profession. <\/p>\n
Q: What do you feel have been the <\/p>\n
major accomplishments or highlights <\/p>\n
during the past year? <\/p>\n
There were many, but I will pick two.
\nI will start with Advocacy. During the
\npast 12 months, I have attended meetings <\/p>\n
with the Office of the Superintendent
\nof Financial Institutions (OSFI); Canada
\nMortgage and Housing Corporation
\n(CMHC); Conservative, Liberal, and NDP
\nMPs; as well as the Prime Minister\u2019s
\nOffice (PMO). Having the opportunity
\nto share the viewpoint of the Appraisal
\nInstitute of Canada (AIC) was the
\nculmination of a great deal of work by
\nprevious boards, committees and staff.
\nThe large number of meetings we had
\nthis year is an indication that this work
\nis paying dividends. The second is the
\ndelivery of the Shaping our Future Task
\nForce Report, which is the culmination
\nof thousands of volunteer hours and <\/p>\n
Return to CONTENTS 7Volume 66 | Book 2 \/ Tome 2 | 2022<\/p>\n
EXECUTIVE CORNER<\/p>\n
The nature of being in the president\u2019s role for only a
\nyear means that you need to be proud of what gets
\ndone, as well as what gets started.<\/p>\n
We want strong Candidates to choose our profession and having an environment
\nthat celebrates equity, diversity and inclusion, and gives everyone an opportunity
\nto thrive will help make that a reality.<\/p>\n
The Task Force recommendations represent
\na thoughtful, business-oriented approach
\nto raising the bar for the AIC. Implementing
\nthe recommendations will improve the value
\nproposition that AIC offers to its Members.<\/p>\n
hundreds of thousands of data points
\ngathered from our membership, who were
\nhighly engaged in the consultations that
\nled to the report\u2019s recommendations.
\nWe now have a roadmap that will inform
\nour strategy in the short- and long-term.<\/p>\n
Q: Are there specific areas where <\/p>\n
you wish more could have been <\/p>\n
accomplished?<\/p>\n
To be honest, I started with realistic
\nexpectations of what could and could
\nnot get done. The nature of being in the
\npresident\u2019s role for only one year means
\nthat you need to be proud of what gets
\ndone, as well as what gets started. Many of
\nthe things you finish were started by those
\nwho came before you and you have to
\ntrust the team that comes after you to see
\nthrough some of the things you started.<\/p>\n
Q. How do you feel the organization <\/p>\n
and the membership will be impacted <\/p>\n
by the findings and recommendations <\/p>\n
of the Shaping our Future Task Force? <\/p>\n
The Task Force recommendations
\nrepresent a thoughtful, business-oriented
\napproach to raising the bar for the AIC.
\nImplementing the recommendations will
\nimprove the value proposition that AIC
\noffers to its Members.<\/p>\n
Q. An important initiative for <\/p>\n
the AIC this past year was the <\/p>\n
President\u2019s Council on Equity, <\/p>\n
Diversity and Inclusion (EDI). <\/p>\n
Can you comment on the work of <\/p>\n
the Council and the EDI culture <\/p>\n
that is developing at the AIC as a <\/p>\n
result of the Council\u2019s efforts? <\/p>\n
The Council has already started to provide
\nfeedback and recommendations to the
\nBoard on our policies, standards and even
\nthe composition of the Council itself. <\/p>\n
the early days. We want strong
\nCandidates to choose our profession
\nand having an environment that
\ncelebrates equity, diversity and
\ninclusion, and gives everyone an
\nopportunity to thrive will help make
\nthat a reality.<\/p>\n
Q: Can you describe your overall <\/p>\n
experiences working with <\/p>\n
the AIC\u2019s Board of Directors, <\/p>\n
national office staff, and <\/p>\n
Members?<\/p>\n
I was pleased with the high level of
\nengagement of our Board, our staff,
\nand our membership over the past
\nyear. Our Board does not shy away
\nfrom tough decisions and acts in the
\nbest interest of our Members. I have <\/p>\n
I can say that our decisions are more
\nmindful about EDI than we might have
\nbeen previously, which speaks to a
\ngreater awareness among not just our
\nBoard members, but our staff as well.
\nThere is work to do, but these are still <\/p>\n
said it before, but our staff have made
\nour cause their own. I have been
\npleased to share in some of the wins
\nthey have helped lead and bring about
\nthis year in terms of Advocacy and
\nwith our Task Force. <\/p>\n
Canadian Property Valuation | \u00c9valuation Immobili\u00e8re au Canada 8 Return to CONTENTS<\/p>\n
Volunteering with the AIC is a valuable experience, whether it be at the provincial
\nor national level, on a committee or in a governance role. I would recommend to
\nanyone considering it to do so.<\/p>\n
EXECUTIVE CORNER<\/p>\n
Q: Are there particular memories <\/p>\n
from the past year that stand out in <\/p>\n
your mind?<\/p>\n
I like all the wins\u2026 but one I have not
\ntouched on was the decision to bet big on
\nour first virtual conference in 2021.
\nA virtual conference is a lot different than
\nan in-person conference. We had seen
\nsome other conferences done via Zoom,
\nbut we wanted the experience to be as
\nmuch like an in-person conference as
\npossible. To say the team came through is
\nan understatement. They sourced a virtual
\nplatform that was very much like attending
\nin person. It had meeting halls, sponsors,
\nvendor kiosks, and networking rooms.
\nThe membership totally embraced what
\nwe had to offer for our first-ever virtual
\nconference. Not only did we have a record-
\nsetting attendance, we attracted many
\nMembers who were attending a conference
\nfor the first time. <\/p>\n
Q: How did the challenges of fulfilling <\/p>\n
your president\u2019s role affect your <\/p>\n
full-time career?<\/p>\n
It was a positive experience. In my
\nday-to-day role in property tax, I spend
\na lot of time discussing property
\nassessments and valuation issues with
\nassessors from across the country.
\nServing as AIC president has made me a
\nbetter listener and I have carried that
\ninto my day-to-day practice. <\/p>\n
Q. Would you recommend the <\/p>\n
experience of serving as national <\/p>\n
president to other appraisers?<\/p>\n
Volunteering with the AIC is a valuable
\nexperience generally, whether it be at
\nthe provincial or national level, on a
\ncommittee or in a governance role. I would
\nrecommend to anyone considering it to <\/p>\n
do so. In terms of serving as president,
\nI would say that, if you have a good
\nappreciation for what the role involves
\nand are throwing your hat in because
\nyou want to give something back, then
\nyou will find the experience rewarding
\nand fulfilling.<\/p>\n
Q: What advice would you pass on <\/p>\n
to incoming presidents?<\/p>\n
I think I would rather refrain from giving
\nadvice, but offer a couple of observations
\ninstead. First, there is a tremendous <\/p>\n
knowledge base in the minds of the Board
\nand our national staff. Having thoughtful
\ndiscussions around the table is the best
\nway to ensure the best ideas are vetted.
\nSecond, the year will go by fast! <\/p>\n
Q: How do you see your role as <\/p>\n
past-president in the year ahead?<\/p>\n
What I have learned is that past
\npresidents\u2019 are gracious with their time
\nand, I\u2019m quoting here, will \u201cdo anything
\nyou need me to do.\u201d I plan to carry on that
\nfine tradition. <\/p>\n
Volume 66 | Book 2 \/ Tome 2 | 2022 9Return to CONTENTS<\/p>\n