PROFILE

The Appraisal Institute of Canada was founded in 1938 with the aim of serving public interest through the stringent advancement of high standards for appraisal professionals. Initiatives such as granting the use of designations, the establishment of ethical and professional standards, and the creation of strategic partnerships with financial organizations and government bodies, have made the AIC a leading and authoritative voice in the appraisal industry for over 60 years.

In the late 1960s, Dr. Samuel Martin from the business school of the University of Western Ontario was commissioned by the AIC to evaluate the structure of the Institute. His recommendations led to the creation of provincial associations, formed in each province to serve all members better.

In 1968, a motion was passed to form the first AIC branch office, then called the Ontario Association of Chapters. The Ontario Association of the AIC has the distinction of being our organization's first provincial office, and remains to this day, the largest in Canada with 16 chapters!

Proud members of this early group witnessed their first annual conference in Toronto in 1969, and their first charter in 1971. Marked by these successes, the OA-AIC continued to grow and now boasts an active professional development program with seminars, workshops and an annual two-day conference, in addition to public relations liaisons with others in the business community and executive offices in Toronto.

With 1,800 current members in Ontario, the members are renown for providing property appraisals that are widely accepted and respected by courts, real estate corporations, chartered banks, trust companies, mortgage lending institutions, all levels of the government and private individuals. The OA-AIC remains dedicated to providing its members with the necessary skills to present detailed and knowledgeable property appraisals and consulting services.

The OA-AIC conducts an annual strategic planning exercise to identify objectives for the medium-term, but generally, the Association's activities are in two broad areas: assisting the individual member in advancing their business or career through information, professional development and services; and promoting awareness of the profession to targeted audiences such as the major consumers of appraisal and real estate consulting services.

The mission of the Ontario Association of the Appraisal Institute of Canada is to be an active, independent professional association dedicated to establishing, promoting and advancing the standards of appraisal, valuation and other consulting services relating to real property of all kinds in Ontario

CURRENT DESIGNATIONS

Using a non-accredited appraiser can mean a loss of value, loss of investment and loss of financial security. Fortunately, appraisers with AACI,P.App., CRA designations have the skills and available resources to avoid any kind of personal disaster.

The accuracy and reliability of AACI,P.App., CRA designated appraisers is the result of a rigorous education in real estate valuation. Before the designations are granted, all members must complete a series of educational courses, as well as demonstrate their new skills on the actual real estate market. Even after they receive their accreditation, professional appraisers must continue their development through a mandatory continuing professional developement program by attending seminars, courses and conferences that keep them abreast of changes in the real estate market.

AACI, P.App. Accredited Appraiser Canadian Institute/Professional Appraiser: This designation includes fully accredited membership in the Institute and may be used by the holder in connection with the appraisal of a wide range of property.

CRA, Canadian Residential Appraiser: This designation qualifies members in the appraisal and valuation of individual undeveloped residential dwelling sites, and dwellings containing not more than four self-contained housing units.

Members that gain these designations may pursue various career paths, including national corporations, all levels of government, lending institutions or private practice.