- Accreditations
Each designation has different education and experience requirements, and most designations apply to a specific practice area. Research the various designations and select the one that suits your specific needs. The following appraisals accreditations (designations) are listed by the professional appraisal association that grant them.
Appraisal Institute of Canada: For further information on these designations below click here.
- AACI, (Accredited Appraiser Canadian Institute)
- AACI, P.App (Accredited Appraiser Canadian Institute)
- CRA (Canadian Residential Appraiser)
Canadian National Association of Real Estate Appraisers: For further information on these
designations below click here.
- DAC (Designated Appraiser Commercial)
- DAC (Designated Appraiser Commercial agriculture speciality)
- DAR (Designated Appraiser Residential)
Alberta Assessors Association: For further information on this designations below click here.
- AMAA (Accredited Municipal Assessor of Alberta). This is a designation of the Alberta Assessors' Association. For further information on this designation click here.
- Practice Area
Determine the area of appraisal expertise that you require and be sure that the appraiser you hire is qualified to carry out that work.
- Experience
Consider the experience each appraiser has in performing various types of appraisals. In general, appraisers with more experience work more quickly, have more available data and identity unusual conditions more quickly.
- Appraisal Purpose
Explain to the appraiser the intended use of the appraisal report. You may require an appraisal because you are buying, selling or financing/refinancing a real estate property. Or, you may require an appraiser who is recognized by the courts as an expert to prepare the appraisal for a pending lawsuit and to testify to the property’s value.
- Fee
Agree on a fee for the appraisal report. There are no set fees for an appraisal report and all appraisal assignments are negotiable. Document the agreed upon fee (i.e. writing, email, fax).
- Time
Advise the appraiser if time is important and choose an appraiser who can provide the appraisal within that timeframe. Document the agreed upon time (i.e. writing, email, fax).
- References
Ask the appraiser that you intend to hire for his or her professionals references.
For further information regarding the qualifications of professional real estate appraisers, please click here (link to the ALIS site)
