CNAREA Publication Announcement

March 28, 2022

To: All members

Re: Upcoming Publications

Over the next few weeks, we will be providing several publications to members and stakeholders. The publications will include information on CNAREA, Stakeholder Engagement, and tools to assist members with ongoing education.

The first publication, accompanying this announcement, is the updated Association Profile which provides core information on CNAREA. The profile is designed to provide members, stakeholders, and the public with information on CNAREA. We encourage all members to utilize the profile when dealing with anyone that requests more information on CNAREA. This could be used to introduce your Association to mortgage brokers, local lenders, Accountants, Lawyers, and other end-users of Appraisal Reports.

We have mentioned previously that the COVID-19 pandemic has accelerated changes in many industries including Appraising and Real Property valuation. In the second half of 2021 we spoke with numerous stakeholders to get their views of the Appraisal Industry and Real Property valuation in Canada. We sought to get their opinion of where they see the industry is currently and where it is going. In our report entitled The Appraisal Industry in Canada, Part 1: What Stakeholders are Saying we outline the common themes, concerns, and predictions. This report will be released to members and stakeholders in early April. With this release we will also make available to the membership the results of the member survey conducted June 2021.

Within weeks after the release of Part 1 we will be releasing to the membership and stakeholders The Appraisal Industry in Canada, Part 2: Our Take. In this report we will be responding to the issues and concerns of stakeholders as well as giving our take as to where we think the Appraisal industry in Canada is and where it is going. We will also provide readers with what we are doing to help our members and be better prepared for the ongoing changes.

To assist members with their Education and Continuing Education, we are developing several new support tools, including a CNAREA Handbook and a Course Feedback Process. We hope the handbook, with its quick-reference to common appraisal terms, concepts, and formulas, will not only help Candidate Members and Designated Members with their course work but will also prove an essential guide for their appraisal work outside the classroom. To further support learners and their grasp of the most challenging appraisal concepts, we have developed a Course Feedback Process that individualizes tutelage for the struggling learner. The feedback process will soon become more automated in the coming months as we shift to our new online Testing Platform. We will start rolling out these added supports in the coming weeks.

For further information on any of these initiatives please feel free to contact 1.888.399.3366:

Rob MacDonald, ext. 2

Kevin Lonsdale, ext. 3

Greg Link, ext. 5