Compliance Update

As you are aware, we have been discussing the type of requests coming to our Members have been different than previous years, and we understand volumes have decreased considerably. In order to best support our Members, please find below an update on two significant initiatives.

Education:

We have fielded many inquiries from our Members regarding different and complex valuation requests. It has been noted many times in recent courses, communications, and meetings that these types of requests are going to become more prominent with alternative valuation products in the market. There is also an additional layer of complexity involved in many circumstances due incomplete information being provided to the Appraiser at the time of the request.

In order to ensure our Members are best equipped to handle these requests, we would like to conduct webinars to provide guidance and feedback on these challenges. Registration will be free and will count as CE credit. The intention of this webinar is to engage with you. For this to be of greatest benefit to our Members, real-life examples faced across the country will be the focus.  We are looking to have members submit their own experiences for discussion. Please send these examples to hq@cnarea.ca and when you submit, please include all relevant details so the full problem is identified, and we can work through the solution in a complete manner. The registration link will be sent over the coming weeks.

In addition to the above, please be advised that Greg Link is no longer with the Association. During his time with CNAREA he provided many significant contributions to enhance the education program. As we continue to move forward following his departure, any education inquiries should be directed to Shayla Huggins (shayla.huggins@cnarea.ca).

Compliance:

We are pleased to announce the updated Compliance Program that is a foundational part of our Association. In the coming weeks, we will be going live with three Technical Officers across the country. These Members will be supporting you with the Compliance Review program, and through a hotline system as we continue to navigate an increase in unique and complex properties and assignments. Max Caron, DAR (QC), Mark Friend, DAR (ON) and Martin Bridge (DAR) (BC) will be a strong support system within the changing appraisal environment. The email address and phone extensions for this position will be posted on the CNAREA website for your reference. This program will be rolled out in two phases. Phase one will be part of the continuing education program for 2024. Phase two will be the re-introduction of report submission on an annual basis. It is important to note, that the Compliance Program is not intended to be punitive. The Program will focus on providing Members with valuable feedback that will assist our Members in providing the best quality reports possible.