Winnipeg hosting national appraisers convention

Winnipeg is the host city to hundreds of valuation professionals and real estate industry stakeholders who are attending the Appraisal Institute of Canada’s (AIC) 2016 Annual Conference from June 8 to 11.

It has been more than 15 years since the conference was held in Winnipeg.

“Winnipeg’s architecture, real estate development, culture, and renowned landmarks are just a few aspects that make us very proud to host this annual event,” said co-chair Gordon Daman, president of Red River Group (the other co-chair is Eric Krueger, president of Eric Krueger Appraisals Ltd.). “AIC-MB appraisers are excited to show off their great city to our colleagues from across Canada and around the world.”

“We’ve planned an engaging educational program and are providing world-class networking opportunities at iconic sites such as the Fort Garry Hotel and the Canadian Museum for Human Rights. We are confident that it will be one of the best national conferences that AIC has ever hosted,” added Daman.

The conference delegates include real estate valuation professionals that have diverse experience and expertise, including residential, commercial, agricultural, industrial, and many other special properties and niche services. They represent small and large valuation firms, as well as those working in municipal, provincial and federal government.

Furthermore, several delegates are from international associations, including AIC’s colleagues from the Appraisal Institute in the United States, the American Society of Appraisers and The European Group of Valuers’ Associations.

This year, several significant partnerships were announced that demonstrate the strong reputation of the AIC’s professional designations — the AACI and the CRA.  As the globalization of the real estate industry continues, professional valuation associations are acknowledging that international investors need to recognize and trust a professional valuation designation that will deliver consistent methodologies and standards of quality in the valuation of real estate assets, whether they are investing in properties located in France, Los Angeles or Winnipeg.

To address this issue, the AIC and the Appraisal Institute, two of the leading valuation associations in North America, announced a new reciprocity agreement that mutually recognizes the excellence and quality of the AIC’s AACI and CRA designations and the Appraisal Institute’s MAI and SRA designations. The agreement acknowledges the rigorous education and designation processes, professional standards and ethics of each respective organization.

Through this agreement, designated members of either the AIC or the AI will be able to pursue the counterpart designation (AACIs can obtain the MAI and CRAs can obtain the SRA) with recognition of their existing education, knowledge and experience. This mutual recognition means that clients on either side of the border can confidently engage appraisal professionals with an AACI or an MAI for all types of property valuations or a CRA or an SRA designation for residential valuations. They can know that the individual holding any of the designations has satisfied rigorous requirements to become a highly qualified appraisal professional.

In addition, AIC and The European Group of Valuers’ Associations (TEGoVA) announced the mutual recognition of the professional valuation standards and qualifications of each organization. This agreement signifies that European clients can confidently engage AIC-designated appraisers — AACIs and CRAs — to complete valuation assignments, confident in the knowledge that they are receiving the same quality offered to them by TEGoVA designated members, who hold either the Recognized European Valuer (REV) or the TEGoVA Residential Valuer (TRV).

Similarly, Canadian clients investing in European properties can engage a valuation professional with a TRV and REV designation, knowing that a comprehensive approach and analysis will be delivered on an appraisal assignment. These reciprocity agreements are critical for institutional investors and regulators in a globalized economy governed by International Financial Reporting Standards.

Other highlights of the conference include topics within the real estate valuation industry, including aboriginal land management, condo-reserve fund planning, contaminated sites, faith-based property conversions, national market overviews, trends in farmland values and retail properties, residential construction and inspection, and a panel on Canadian suburban and downtown neighborhoods. 

“We are grateful to the local community, including WinnipegREALTORS®, for showing their support of the real estate valuation community during our conference. Now, our colleagues from other regions will truly understand the progressive qualities of the Manitoba real estate market and what real prairie hospitality is all about,” said Krueger.

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