November 23, 2020
Path towards the DAC Designation
Currently members can work on Commercial Reports with DAC Supervisors as long as the DAC member has the Certified Appraisal Reviewer designation. The DAC signing DAC Candidate’s reports MUST have local area competency in the market of the subject property. The DAC Candidate must be a DAR and have completed the two income approach courses, CNA401 – Commercial Appraisal I and CNA402 – Commercial Appraisal II.
With the recent update to the DAC education program the following changes are being made to what a member must complete prior to working on Commercial reports with a DAC Supervisor. The member must have completed the following:
- Prerequisites to the DAC program:
- Minimum of 3,000 hours full time residential appraising experience as a DAR
- Successful completion of CNA204, CNA206, CNA207, CNA208
- College or University level introductory Microeconomics
- College or University level introductory Macroeconomics
- And have completed the following DAC required courses offered by the Appraisal Institute (US):
- General Appraiser Income Approach Part 1 – 27 hrs/3 hr exam
- General Appraiser Income Approach Part 2 – 27 hrs/3 hr exam
Confirmation of the successful completion of the above must be provided to the CNAREA Education Department for review prior to working on Commercial Assignments.
Members that are currently working with a DAC Certified Appraisal Reviewer may continue to do so but must adhere to the updated DAC Education program to attain the DAC designation. Under the new program credit is given to the past Income Approach courses CNA401 – Commercial Appraisal I and CNA402 – Commercial Appraisal II.
Should you have any questions or require further information please contact Rob MacDonald at 888.399.3366 Ext. 2