CNAREA
The CANADIAN NATIONAL ASSOCIATION of REAL ESTATE APPRAISERS
is a national, not for profit, independent association that certifies and regulates real property appraisers in Canada. It was established to provide an effective membership orientated organization of professional real estate appraisers based on their academic qualifications, training, and practical experience. The Association is dedicated to raising the standards of the profession, to maintaining the professionalism of its members through continuing education, to advancing the recognition of its members as qualified appraisers, and to protecting the consumer.

The CANADIAN NATIONAL ASSOCIATION of REAL ESTATE APPRAISERS
is a self supporting organization with an elected and appointed Board of Directors. The Board is elected and appointed by the membership on an annual basis. A majority of Board members must be fee appraisers.

PROFESSIONAL STANDARDS
In order to provide a higher level of professionalism, the Canadian National Association of Real Estate Appraisers maintains an active role with the Appraisal Foundation located in Washington DC, USA, and sits on the Appraisal Foundation Advisory Council (TAFAC). All members of the Canadian National Association of Real Estate Appraisers must abide by the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation. These standards are the international benchmark of the appraisal profession.


ETHICS
Any Designated Member, or any Candidate Member of the Canadian National Association of Real Estate Appraisers, agrees to abide by the Code of Ethics as promulgated by the Association (Bylaws Article 5). In summary:

The appraiser must perform competently with impartiality, objectivity, independence, and without accommodation of personal interests.

The appraiser must not accept assignments which are beyond their knowledge, experience, or professional competence.

The appraiser is bound to protect the confidential nature of the appraiser client relationship.

The appraiser is obliged to maintain the highest standards of professional conduct with clients, colleagues, and their community.

ERRORS AND OMISSIONS INSURANCE
The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS provides all designated members with professional liability insurance for error and omissions. This program provides insurance for appraisal assignments completed in Canada, from a minimum of $1,000,000. per occurrence. Professional liability insurance coverage is mandatory for designated members.


OBTAINING MEMBERSHIP STATUS
All applications for membership are submitted to the Membership and Admissions Committee. Each application is reviewed with regard to education and experience. All applicants must be at least 18 years of age and hold a high school diploma at the university level.

MEMBERSHIP
Membership in the CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS is offered in four appraiser categories and one specialty, and two review appraiser categories.

AM (Associate Member)
CM (Candidate Member)
DAR (Designated Appraiser Residential)
DAC (Designated Appraiser Commercial)
DAC (Designated Appraiser Commercial with a Specialty in Agricultural)
CMAR (Certified Mortgage Appraisal Reviewer)
Certified Appraisal Reviewer


Associate
Associate membership encompasses all persons who have an interest in the appraisal profession or work with professional appraisers but are not engaged in fee appraisal assignments.

CM (Candidate Member)
This category is open to all fee appraisers who are interested in furthering their education and experience with the goal of earning a designation. Candidates must complete Course #5.0, Professional Standards of Practice, or its equivalent, within four (4) months of being accepted.

DAR (Designated Appraiser Residential)
This designation identifies a member who is qualified to perform appraisal and consultation assignments of residential type properties consisting of no more than four housing units. Requirements for this designation include three thousand hours of full time appraisal experience, over a minimum of two years, and the successful completion of the required Canadian National Association of Real Estate Appraisers educational program or its equivalent.


DAC (Designated Appraiser Commercial)
This designation identifies a member who is qualified to perform appraisal and consultation assignments of all types of real property including commercial, industrial, and investment. To attain this designation an individual must have the DAR designation, five years of full time appraisal experience, and complete the required Canadian National Association of Real Estate Appraisers educational program or its equivalent.

DAC (with a specialty in agricultural)
This designation identifies a member who is qualified to perform appraisal and consultation assignments of all types of real property. The requirements for this specialty include the DAC designation and the completion of the required Canadian National Association of Real Estate Appraisers educational program or its equivalent.

CMAR (Certified Mortgage Appraisal Reviewer)
This designation identifies a member who is qualified to perform professional reviews of any residential appraisal report which might be used for mortgage purposes. To attain this designation an individual must have a minimum of 2 years experience in the mortgage financing profession and complete the required Canadian National Association of Real Estate Appraisers education program.

Certified Appraisal Reviewer
This designation identifies a member who is qualified to perform professional reviews of any appraisal report. To attain this designation an individual must have the DAR designation and complete the required Canadian National Association of Real Estate Appraisers educational program; or, be a registered mortgage broker, hold the AMP designation of CAAMP, have 5 years mortgage financing experience, and complete the required CNAREA education program.

MEMBERSHIP
Each professional designation further requires the submission and subsequent approval of appropriate appraisal reports.


The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS recognizes educational credits obtained from other approved educational institutions and appraisal associations.


DAR designation is the prerequisite for the DAC designation and the DAC designation is the prerequisite for the DAC specialty.

All professional designations require a college/university degree, or the equivalent.


CONTINUING EDUCATION PROGRAM
The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS requires that all members with the DAR and the DAC designations, and the DAC specialty, must adhere to a mandatory continuing education program. This program requires the completion of 28 continuing education units every two years, and the submission of one field report every year for review by the Education Committee. All members must complete 4 hours of USPAP updating every two years. Acceptable education units include CNAREA courses, approved distance learning courses, Community College or University courses, and other seminars and courses which meet the educational standards of the Association.

RECIPROCITY
The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS has a formal alliance with the National Association of Independent Fee Appraisers. This alliance encompasses full reciprocity of designations and educational courses. The Canadian National Association of Real Estate Appraisers also recognizes certain designations from other appraisal associations with approval by the Education Committee, on an individual case basis.

TUITION
Special discounts offered to the membership of the CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS are also available to members of the NAIFA, ASA, IAAO, IRWA, and all IAAA members.



EDUCATION PROGRAM
The education program of the CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS is designed to provide members, other real estate appraisers, and other real estate professionals with a comprehensive and practical system of acquiring and furthering their appraisal knowledge. It consists of both core and elective courses applicable to each of the three professional designations.

Some of the course texts and content are supplied under alliance with the National Association of Independent Fee Appraisers, based in Chicago, Illinois, USA, under exclusive agreements with the Canadian National Association of Real Estate Appraisers.

All course instructors are certified by the CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS and must attend a CNAREA Instructors Conference at least every other year.

The Canadian National Association of Real Estate Appraisers monitors both instructors and course presentations to assure that the quality of all courses and instructors is consistent with their high educational standards.

CNAREA INTERNATIONAL
The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS has a formal alliance with the National Association of Independent Fee Appraisers (NAIFA), the most prominent not for profit association of professional Certified Appraisers in the United States of America.

CLIENTS SERVED BY CNAREA DESIGNATED MEMBERS

BMO Bank of Montreal
Royal Bank of Canada
TD CANADA TRUST
CIBC
Scotia Bank
CMHC
Brookfield Global Relocation Services

ING Direct

Prudential Relocation
HSBC
Department of National Defense
Petrocan
Various Credit Unions
Genworth
CDIC
Ministry of Transport, Province of Ontario
Business Development Bank of Canada
Centract Settlement Services
Alberta Treasury Branches
First National
Home Loans Canada
GMAC
City of Ottawa
Department of Public Works, Province of Nova Scotia
Manulife Bank of Canada
HFC
Nationwide Appraisal Services (NAS)
Wells Fargo
Merix Financial
EXCEED Mortgage
AGF Trust
National Bank of Canada
GE Money
Various insurance companys



APPROVED EDUCATORS

IRES ......... NAIFA
REIC ......... ASA
IAAO ..... ... IRWA
RECA ........RECO

The CANADIAN NATIONAL ASSOCIATION OF REAL ESTATE APPRAISERS maintains membership in the following organizations:

The Canadian Employee Relocation Council (CERC)
Canadian Association of Acredited Mortgage Proffessionals (CAAMP)