WHAT IT TAKES TO BE A COMMERCIAL REAL ESTATE APPRAISER.

Posted by Richard Wareham 
on Aug 12, 2014
 

And you thought becoming a Dr. was a long haul....

Last tuesday our President Elect Ed Landry provided us with a overview of the industry and what is required to be a commercial Real
Estate Appraiser.  Here is Ed's official title (showing we have super qualified members in our Rotary Club who share their expertise)

Ed Landry ,B.Comm,CRP,AACI,P.APP  

Ed is the President of Penny & Keenlyside Appraisals who have been providing top-quality valuation & advisory services since 1958.
During his presentation Ed noted there are two Real Estate Appraisal designations. 
AACI - Members holding this designation can perform Commercial and Residential Appraisals
 and CRA - Members of this designation specializes in Residential Real Estate Appraisals.

How long does it take on average to gain these designations?

AACI (Accredited Apraiser Canadian Institute)- 4-6 years

CRA (Canadian Residential Appraiser)- 2-3 years.

For more details on requirements here is a link to the Sauder School of Business at UBC that conducts the courses leading to the
two designations.
 http://www.sauder.ubc.ca/Programs/Real_Estate_Division

So once you are qualified the learning does not stop there as each assignment varies ( Ed mentioned that this is a great part of the work the 
variety and the opportunity to learn). Appraisals have varied reasons for being completed here are 3 of many.

1. Establish the value on a purchase  and to support financing.

2. Establish valuations in legal actions. ie Family breakups, Business Breakups (foreclosures and  expropriations are some other examples)

3. Under new rules for Strata Corporations the need to establish insurance Valuations and reserves for maintenance.

Ed has many years in the business with a wide range of knowledge and experiences with more being added each day. He stated if you are
looking for a career with a wide area of expertise and new experiences each day.
Look to being an Appraiser.

 Our immediate Past President of the Rotary Club of Surrey John Edwards presents Ed with a token of our appreciation for sharing

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