For Real Estate Professionals
Do you need a third-party opinion on the real value of a property?
Many real estate professionals count on AIC-designated appraisers—AACI™ and CRA™—for professional, comprehensive and unbiased valuations to assist them in helping their clients make well-informed residential and commercial real estate decisions.
When would a real estate professional engage an AIC-designated appraiser?
A designated appraiser is often engaged by a real estate professional to provide a third-party opinion on the market value of a property. For example, an appraiser can provide:
- Appraisals for financing and refinancing
- Appraisals for renovations, additions or “as if” complete construction
- Second opinion or review of appraisals
- Highest and best use analysis
- Feasibility analysis
- Leasing analysis
- Market rent studies
- Reserve fund planning
- Pre-sale market value
What types of properties can an AIC member appraise?
AIC-designated appraisers can provide appraisal, review and consulting services for the following property types:
- Residential—single-family homes, multi-units, recreational, heritage, etc.
- Commercial—office buildings, retail, hotels, storage facilities and other income-based properties
- Industrial—manufacturing, machine shops, etc.
- Institutional—hospitals, schools, churches, publicly-owned property, etc.
- Mining/resource-based—oil and gas, timberland, sand pits, pulp and paper, etc.
- Rural—agricultural, land, winery, orchards, etc.
- Special uses—airports, golf courses, contaminated property, harbor, military facilities, prisons, etc.
What professional standards do AIC-designated appraisers follow?
AIC-designated appraisers are highly-trained and trusted professionals who adhere to the highest standards in the field of appraising: the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP).
CUSPAP align with European Valuation Standards and International Valuation Standards, and are recognized internationally as acceptable standards for property valuation. Seven Standards have been developed to guide the professional practice of AIC members:
- Ethics Standard
- Appraisal Standard
- Review Standard
- Consulting Standard
- Reserve Fund Planning Standard
- Machinery and Equipment
- Mass Appraisal