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 70 years.
The mission of the Appraisal Institute of Canada-Ontario 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
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 AIC remains dedicated to providing its members with the necessary skills to present detailed and knowledgeable property appraisals and consulting services.
The Appraisal Institute of Canada offers two prestigious designations to those individuals who have proceeded through our rigorous education, experience and examination requirements. A qualified appraiser is recognized across Canada by the AACI, P.App or CRA designations, which are only awarded to those members who successfully complete this rigorous program of professional studies.
CRA (Canadian Residential Appraiser) designates members qualified in the appraisal and valuation of individual undeveloped residential dwelling sites and dwellings containing not more than four self-contained family housing units.
The CRA designation requires up to seven courses from AIC's Program of Professional Studies, completion of a residential guided case study, one year in the Applied Experience Program, and completion of both a written examination and oral interview. Individuals must also complete AIC's mandatory Professional Practice Seminar.
AACI (Accredited Appraiser Canadian Institute) designates fully accredited membership in the Institute and may be used by the holder in connection with the appraisal of a wide range of property.
AACI, P.App (Professional Appraiser) may only be used by a fully accredited (AACI) member and must immediately follow the AACI designation.
The AACI designation requires up to eight additional courses from AIC's Program of Professional Studies (over those required for the CRA designation), completion of an income or agricultural case study, two years in the Applied Experience Program, and completion of both a written examination and oral interview. Many members choose to earn their CRA designation and then complete the additional requirements to subsequently earn their AACI designation. Those that choose to go directly for the AACI designation can bypass the residential case study requirement.
The accuracy and reliability of AACI, P. App. or 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 development program by attending seminars, courses and conferences that keep them abreast of changes in the real estate market.
Members that gain these designations may pursue various career paths, including national corporations, all levels of government, lending institutions or private practice.