Home appraisal licensing in Ontario is handled by the Appraisal Institute of Canada (AIC). The AIC provides initial education, ongoing training and professional designations for its members. There are approximately 4,800 members of the AIC across Canada. Only those members who have completed a course of training and who have gained the designated member status as a Canadian Residential Appraiser (CRA) can work as appraisers in Ontario.
Apply to become a student member through the AIC. You can continue to work in the the real estate property sector while pursuing student membership, or you can become a student member while you are completing work at in a university program that is geared toward residential appraisal. See "AIC Frequently Asked Questions" for acceptable degrees.
You are a student member while you complete your initial course of study. Student members may assist with research and data collection, but may not actually inspect properties and complete appraisals. Visit "Student Membership" under resources for more information.
Apply to become a Candidate Member through the AIC. Candidate members are appraisers in the process of being trained and are mentored by an active appraiser. As a Candidate Member you can inspect and complete appraisals under supervision. A candidate member must complete one university credit course a year in addition to completing field work. A candidate member cannot market or present himself to members of the general public as a designated, licensed appraiser. A candidate member must carry liability insurance for any mistakes. Visit "Candidate Membership" under resources for more information.
Apply to become a a Designated Member through the AIC. As a Designated Member you can conduct inspections and appraisals, and can market yourself as an appraiser. According to the AIC of Ontario, "the CRA designation requires up to seven courses from the AIC's Program of Professional Studies, completion of a residential guilded case study, one year in the Applied Experience Program, and completion of both a written examination and oral interview." Designated members also can take additional coursework toward becoming a Professional Appraiser (AACI P.APp). Visit "Designated Membership" under resources for more information.
To find a mentor, ask the AIC for a copy of the Designated Members Source Guide.
If you fail a course supporting your studies, the AIC allows for one re-take.
Once you have finished your course of study, the AIC provides many valuable resources to help you get your new business off the ground.