Advancing to the Designated Appraiser Commercial (DAC)

Updated: December 21, 2023

Designated Appraiser Commercial (DAC) Education Program

DAC™ (Designated Appraiser Commercial) is granted to individuals who have achieved the DAR designation, have completed the required educational program, and acquired sufficient field experience to fulfill the professional requirements of CNAREA. DAC-designated appraisers are qualified to provide valuations on all real property types, including residential properties.

The following outlines the DAC program for those members with the DAR designation.

  1. Notify CNAREA of your intention to complete the DAC Educational Program by sending proof of the following to shayla.huggins@cnarea.ca:
  • Mandatory: Minimum of 2 years experience or 3,000 hours full-time residential appraising experience (full-time hours obtained as a Candidate Member accepted)
  • Optional at this stage: Acquisition of a DAC supervisor (recommended but not mandatory in order to take the following DAC courses)
  1. Complete the following courses.

Foundational Courses (recommended before starting the Core Courses):

  • College or University level introductory Microeconomics
  • College or University level introductory Macroeconomics

Core Courses offered by the Appraisal Institute (AI) or equivalent

  • General Appraiser Market Analysis and Highest and Best Use – 28hrs/2 hr exam
  • General Appraiser Sales Comparison Approach – 27 hrs/3 hr exam
  • General Appraiser Income Approach Part 1 – 27 hrs/3 hr exam
  • General Appraiser Income Approach Part 2 – 27 hrs/3 hr exam
  • General Appraiser Site Valuation and Cost Approach – 28 hr/3 hr exam
  • General Appraiser Report Writing and Case Studies – 28 hr/3 hr exam

Please note: AI courses are available in classroom or on-line formats.

  1. Successfully complete electives:
  • 100 hours minimum total of appraisal-related advanced courses
  • Courses to be pre-approved by the CNAREA Director of Education and/or DAC Education Committee
  • When requesting approval, the student must supply: course syllabus, institution providing the course, and course timing/hours
Potential course sources:

·         Appraisal Institute – Advanced Education Program courses – https://www.appraisalinstitute.org/

·         Carson Dunlop – https://staging.carsondunlop.com/training/ca/program/course-descriptions

·         Canadian Real Estate Association – Commercial courses: https://www.crea.ca

·         IRWA – https://www.irwaonline.org/courses/

·         Lakeland College – https://www.lakelandcollege.ca/

·         Athabasca University – https://www.athabascau.ca/

  1. Once education requirements are successfully completed, Commercial candidates must:
  • Acquire a DAC supervisor (mandatory at this stage for completing 1,000 hours of Commercial property appraisal experience, but optional during course completion)
  • Display a minimum of 5 years full-time appraisal experience, including 1,000 hours of Commercial property appraisals under a DAC supervisor
  • Submit 3 Commercial Appraisal Reports – a minimum of one (1) report must display the use of all three (3) approaches to value
  • Professional Peer Review and discussion of the three (3) submitted reports, including:
    • Answering questions pertaining to the submitted reports
    • General appraisal knowledge and application of USPAP
    • Demonstrating professional competence
  • Upon approval from the Professional Peer Review Panel, the DAC designation will be conferred.