If you’re looking for a new career and you love real estate, you may want to consider becoming a real estate appraiser. Once you have the right training and experience, you can look for a job working for a real estate company, a bank, or an appraisal firm. Or, you can start your own business as an independent appraiser.
There are two different paths you can take to become a real estate appraiser. Through the Canadian National Association of Real Estate Appraisers, you must finish 400 hours of classroom instruction,log 3,000 hours of supervised hands-on experience with an appraisal firm, pass an exam, and join the CNAREA.
Through the Appraisal Institute of Canada, the process is slightly different, but it follows the same basic format of blending classroom and hands-on training. You must:
- Earn a bachelor’s degree or the equivalent of 120 credits
- Take the AIC’s “We Value Canada” course
- Complete the Foundations of Real Estate Appraisal course, a self-study course through the University of British Columbia
- Complete seven self-learning, distance courses through the Program of Professional Studies at the Sauder Business School at the University of British Columbia for residential appraising
- Work under a mentor for at least one year
- Pass the AIC written exam and interview
- Join the AIC
Once you complete either the CNAREA or AIC requirements, you need to check with your province for any additional requirements. In Alberta and Nova Scotia, for example, you have to be licensed. Other provinces and territories may have additional requirements.
Learning how to become an appraiser can open new business and career avenues for you, or you may want to become an appraiser to benefit your current business. For instance, if you run a lending institution, a real estate company, a law firm, or multiple other types of businesses, you may want to become an appraiser so that you can diversify your offerings.