OTTAWA, ON, Jan. 29, 2014 (GLOBE NEWSWIRE) -- The Appraisal Institute of Canada (AIC) and the Real Estate Division of the University of British Columbia's (UBC) Sauder School of Business are pleased to announce the renewal of a five-year Memorandum of Understanding (MOU) to continue to deliver the AIC Professional Program of Study to real estate valuation professionals working towards the Accredited Appraiser Canadian Institute (AACI™) and Canadian Residential Appraiser (CRA™) professional designation.
"Rigorous education programs are critical in the global economy to produce professional valuators with the right qualifications, knowledge and competencies needed in today's real estate market," says Sir David Tweedie, Chairman of the International Valuation Standards Council (IVSC).
"The AIC Education Program is highly regarded and we are very pleased that the AIC places such importance on quality degree-level education. Reliable valuation of assets is fundamental to the stability of the real estate market."
The MOU renews a long-standing partnership between AIC and UBC providing research-based, industry-driven education to Canada's valuation profession. Graduates of the program are highly qualified professionals providing appraisal, consulting and valuation services to property owners and stakeholders across Canada. The partnership was first introduced in 1998 due to the growing demand for highly qualified practitioners in the field of real estate valuation. A recent AIC employer survey indicates that over 1,100 Designated Members will be required in the next five years due to the aging demographics within the industry.
New elements within the 2014-2018 MOU include the introduction of articulation agreements with leading Canadian post-secondary institutions to better facilitate the movement of students into the AIC Professional Program of Studies and into the valuation profession. Prior Learning Assessment and Recognition (PLAR) programs are also being enhanced to better recognize the relevant education and experience of applicants.
"During my time as Senior Associate Dean and now Dean of the Sauder School of Business, I have been privileged to be a part of the partnership between the Appraisal Institute of Canada and the Sauder School. This unique, synergistic connection has grown into one of Canada's most successful business/academic partnerships," states Robert Helsley, Dean Sauder School of Business, Grosvenor Professor of Cities, Business Economics and Public Policy, University of British Columbia.
Since 1998, the UBC Real Estate Division has administered the AIC Professional Program of Studyand in that time thousands of AIC members have completed the program. Individuals begin their careers as a Candidate Member of AIC and progress through the required UBC courses and additional AIC designation requirements before being awarded the AACI or CRA designation.
"AIC is continually striving to deliver quality education to its members, preparing them for the valuation profession as well as providing the tools they need to become professionals of choice and leaders within the industry," states Keith Lancastle, CEO of the Appraisal Institute of Canada. "The AIC/UBC Education Program is a designation program that our members are very proud of."
About AIC
The Appraisal Institute of Canada (AIC) is a leading real property valuation association with over 4,800 members across Canada and around the world. Established in 1938, AIC works collaboratively with its 10 provincial affiliated associations to grant the distinguished Accredited Appraiser Canadian Institute (AACI™) and Canadian Residential Appraiser (CRA™) designations. AIC is a self-regulating organization that is guided by AIC's Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and Code of Conduct to ensure the integrity of the profession and the protection of public interest. AIC Designated Members are highly qualified, respected professionals who undertake comprehensive curriculum, experience and examination requirements. They are committed to continuing professional development to maintain the highest level of competency within the evolving marketplace. Our members provide unbiased professional services on all types of properties within their areas of competence. For more information, go to www.AICanada.ca.
UBC Real Estate Division
The Real Estate Division at the Sauder School of Business, UBC is Canada's leading real estate educator. The Division has a 50-year history in providing high quality online courses and programs to members of the real estate industry. The Division's education offerings range from Continuing Professional Development courses, Certificates, Diplomas, and Degrees, to AIC's designation programs. The Division's curriculum blends academic content from Faculty experts with valuation expertise from industry practitioners, developing in students both a solid knowledge base and career focused skills. The Division's graduates are leaders in the valuation world and in all facets of real estate.
For more information, contact:
Sheila Roy
Director, Marketing and Communications
613.234.6533 x 224
613.863.0127
sheilar@aicanada.ca
