2018 Annual General Meeting Voting Results

June 01, 2018

On Tuesday May 29, 2018 CNAREA held its Annual General Meeting, with the members voting on 3 proposed By-Law Changes, as well as holding elections for the position of President, and the Board of Directors. All the By-Law changes proposed, were accepted by the membership.

As for the election, our incumbent President, Mr. Jim Carty was nominated for the position again this year, and having received no other nominations, Jim was re-elected to another 2-year term. Congratulations Jim!

We also held elections for the 6 elected, voting positions on the Board of Directors. We received 9 nominations this year. All the sitting elected Directors: Michel Beaudoin, Brad Cable, John Carty, Stefan Epstein, Rob MacDonald and Robert Ouimet were nominated again, as well as 3 others: Mike Chekaluk, Steve Coull, and Gerhardt Klan.

As per the newly adopted By-Law with respect to the Term of Office of the Directors, the three top vote getters, John Carty, Rob MacDonald, and Stefan Epstein were elected to 2-year terms, and the next 3, Robert Ouimet, Michel Beaudoin, and Brad Cable were elected to 1-year terms.

Congratulations to all those nominated and elected. We are looking forward to an exciting year!

Marijuana plants at a subject property

Marijuana Plants at a subject property:

With the upcoming legalization of growing Cannabis in homes, it is expected to see an increase in the number of properties appraisers will encounter cannabis plants. One major concern of the Association is the safety of our members, and all are cautioned to be prepared to take the necessary steps to ensure the safety of yourselves, and any employees or sub-contractors. It is recommended as before, that you carry proper PPE, and ensure that you are not exposed to hazardous materials or situations.

We do not feel that it is appropriate for our members to make determinations or declarations as to the legality of the plants, however it is appropriate and expected that members will indicate in their reports if there are Marijuana plants present. Photos should be included in your reports and be of a quality that the client may determine the number of plants present. It is also expected that the appraiser will make comments, and include appropriate photos as to the evidence of any structural modifications, damage caused by moisture, irrigation systems, ventilation etc.

Appraisers are reminded to refer to your clients’ Terms of Reference, particularly when dealing with the permission or the withholding of permission to take photos, etc. If an occupant withholds permission to take photos of the plants, or evidence of adverse influences, you must be aware of your responsibility to follow the TOR, and more importantly the USPAP requirements to gather appropriate information about the subject property to produce credible results.

Following discussions with some of the national lenders, AMC’s, other industry stakeholders, the Board of Directors has drafted an Extraordinary Assumption that may be used in your Appraisal Reports, where appropriate, when a subject property has Marijuana plants present. The statement is to be modified as needed to suit any specific situation, or property.

Extraordinary Assumption Example:
This appraisal and appraisal report are being completed under the Extraordinary Assumption that the existence of marijuana plants within the subject improvements is legal, and that all necessary measures have been taken to protect the health and safety of all occupants, as well as to protect the physical structure and integrity of the subject property improvements. Observations did not indicate any apparent issues relative to abnormal temperature variance, moisture or mold, however, those observations were based on a non-invasive viewing and the appraiser is not qualified to detect such issues or substances in any way through education or experience. The presence of such issues or substances could affect the value and/or marketability of the subject property. The client is urged to retain the services of an expert in these fields if such issues are of concern. The opinion of value reported herein is predicated on the property being free and clear of these issues and all other environmental contamination.

If you have any questions or concerns, please don’t hesitate to contact Rob MacDonald at 250-594-1853 or toll free 888-399-3366 Ext 2.

Proposed Bylaw Change

Proposed By-Law Amendment:

Our current structure of the Board of Directors has the President as serving a 2-year term, and all other elected Members on 1-year terms. This presents two issues that could pose some problems. It can be somewhat difficult for a new member of the Board to be effective in their first year, and secondly depending on the year, there may be wholesale changes to the composition of the Board. Obviously, this would make it difficult to have a smooth transition to a new Board. To help solve this issue, and provide for continued smooth transitions in years ahead, we are proposing a change to the term of office for Directors to be 2-year terms, with 3 of the Directors’ terms ending in any single year. This year (2018), all Directors’ terms end, and we will be electing 6 Directors. The proposed By-Law change will allow for 3 Directors to be elected to 2-year terms, and 3 to 1-year terms. Then in 2019, the 3 positions having 1-year terms would be up for election again, and these 3 positions would then be 2-year terms as well. Therefore, every year we will have 3 Director positions up for election. This would enable a smoother transition for new Board members, and greater continuity from year to year. With this in mind, we are proposing a change to Section 3-3 of the By-Laws.
With respect to the election of a President, By-Law Section 3-5 remains unchanged.

New Logo

Special Announcement

CNAREA is pleased to announce the launch of our new logo. Over the past year we have had a lot of feedback as to what members would like to see changed and the direction they would like to see Association go. The first and most frequent comment was that we needed to update the website. With stage 1 of the website completed we continue to plan the next steps.
The next most frequent question or comment was; are we looking at changing the logo? As such we asked members for logo ideas and as a result we had over 80 suggestions. The top 10 submissions were presented to the Board of Directors and the entry from Peter Grouios was chosen. The website and new logo are part of a rebranding that a many of our members have been asking for. With the speed in which the Real Estate landscape in Canada is changing it is imperative that CNAREA be able to change with it. Our goal is to ensure that we can quickly adapt to ongoing changes and rebranding is part of that strategy.
Below is the official logo but you will see it in several forms depending on how it is being used. If you have any questions on using the logo please feel free to contact Rob MacDonald or Kevin Lonsdale.

New Partnership With HONDROS Education Group

CNAREA is thrilled to announce a new partnership with HONDROS Education Group, to provide CompuCram® to our Candidate Members, in preparation for the DAR Exam.

CompuCram® is an on-line, self-paced exam prep course that helps to prepare you for challenging the DAR Exam.  Simply use the CompuCram® link, to go to the Registration page for the National Appraisal Exam Prep, and purchase your access.  Hondros will do the rest.

This is an exciting opportunity for our members, and we are pleased to announce that we are the only appraisal association in Canada offering a licensing exam prep course.  Check out this short video from HONDROS Education Group to learn more about CompuCram®.

Take advantage of this unique opportunity to gain the confidence you need to pass the DAR Exam the first time!

We no longer have exam days

We no longer have exam days.  Once you are approved to write an exam to obtain your Proffessional Designation you will require a Proctor.  Below is a list, please click on link below to see who qualifies as an acceptable proctor.

Acceptable Exam Proctors for Designation Exams

Conversations Recently With Various Industry Stakeholders

We have had several conversations recently with various industry stakeholders and we would like to encourage you to consider the following:

BLENDED SITE ADJUSTMENTS:  In recent conversations with the Bank of Montreal, BOM has stated that the blended adjustments for site value are no longer acceptable to them, and they are requesting that adjustments, and the comments associated with them address the specific components that contribute to the adjustment(s).

Please ensure that when completing appraisal assignments for this client, that the site adjustments and comments reflect their requirements.

TENANT OCCUPIED PROPERTIES: The question about the ownership rights being appraised, in tenant occupied properties, keeps coming up.  If a property is tenant occupied, then the owner has surrendered part of their ownership rights, (the right to occupy) and therefore no longer has the full bundle of rights (Fee Simple).  In such a case, the normal course of action is for the appraiser to consider the LEASED FEE interest of the property, and appraise it as such.  This would typically require the use of tenant occupied comparable sales for consideration, etc.  HOWEVER some clients (lenders such as BMO) require that the Fee Simple interest in a property be the basis of the appraisal assignment.  In such cases, the appraiser is still to indicate that the property is Tenant Occupied, however the ownership rights being appraised are FEE SIMPLE.  The appraiser simply needs to include a statement such as: “At the request of the client, the subject property is being valued considering the Fee Simple interest, and the Leased Fee interest in the property has not been addressed in this appraisal assignment.”    See USPAP FAQ #217

Find an Appraiser

FIND AN APPRAISER: Some lenders, and AMC’s are having difficulty finding appraisers in certain market segments, and searches on the website are not producing results reflective of the areas of service of our members.  Please log-in to your profile on the website, and update your coverage areas so that current and prospective clients are able to find you!

New Complimentary Appraiser Legal Advice Hotline

As part of our continuing evolution, CNAREA, in partnership with ProLink, Sovereign General Insurance, and Dolden Wallace Folick LLP are pleased to announce the creation of a new complimentary Appraiser Legal Advice Hotline.

New Complimentary Lawyer Hotline for Your Clients

In addition to the coverage provided in our members’ policy, ProLink is very pleased to announce the launch of a new complimentary risk-management service now available to you.

Effective immediately, you will have access to a toll free hotline that will put you in touch with a lawyer who has experience in professional liability for real estate appraisers generally, and specifically, in the defence of claims made against real estate appraisers.

This service is only available to those insured under this program.  You can access this hotline by calling 1-866-891-0366.

Legal Hotline Information

Now Offering Non-Fee Appraiser Residential and Commercial Designations

As part of our continuing evolution, we pleased to be able to offer Non-Fee Appraiser Residential and Commercial Designations (DAR and DAC).  Effective Immediately, active DAR or DAC Designated members who are pursuing opportunities as Non-Fee Appraisers will be able to do so.  Working through our insurance partners at PROLINK, we are able to provide full insurance coverage to our Non-Fee Appraiser members at a greatly reduced annual rate.

Please contact Karen Allen at hq@cnarea.ca for details, and insurance quotes.