Memo To All Members Regarding July 2019 Bylaw Changes

To all Members:

As we continue to update the Associations By-Laws and Policies and Procedures we are advising you of changes to the CNAREA By-Laws. The changes affect Article 7 – Complaints against Members, Reprimand, Suspension, and Expulsion. At the 2019 AGM changes to Article 7 were voted upon by the membership. These latest changes improve the structure and wording of this procedure but do not deviate from what was presented and the original intent. They do however ensure that Article 7 is in line with norms and practices that exist with other organizations and associations.

These recent changes have been approved by the Board of Directors and as indicated in the CNAREA By-Laws will be presented to the membership at the next AGM for approval. In meantime they will take affect immediately. Should the membership vote against the changes at the next AGM then the previous wording for Article 7 will be reinstated.

Fall Courses Now Available

Fall Courses Now Available, click here to view the schedule.

Volatility, uncertainty, complexity and ambiguity – do these words describe your world of mobility management?

Attention: CNAREA Members

Volatility, uncertainty, complexity, and ambiguity – do these words describe your world of mobility management? You’re not alone. How do you manage these realities while preparing for the future?

In such an environment, the need for organizations to be increasingly agile and structured to deliver superior cross border talent solutions has never been more important. And, as mobility professionals grapple with these realities, creative and transformational solutions are in high demand.

I invite you to join your industry colleagues at the Canadian Employee Relocation Council’s (CERC) National ConferenceSeptember 15-17 – Niagara Falls Ontario, where we’ll tackle these issues and discuss strategies to Future-Proof your mobility programs.

As a CNAREA member, I would like to offer you exclusive pricing for our conference. Please enter the promo code – 2019CNAREA – when you register here.

With a stellar line-up of speakers, including Cheryl Cran, a future of work and change leadership expert, this is the industry event of the year. You’ll learn how other leading organizations, such as CGI, IBM, and Manulife, are responding to the growing complexity of mobility management and get insights into future trends.

Expand your reach in the mobility community by joining us in Niagara Falls, one of Canada’s most famous tourist destinations! And with the strength of the US dollar, it’s a great time to visit Canada and enjoy significant savings.

Are you ready to shape the future of mobility?

Register Today!

All the best and I look forward to seeing you there.

Stephen Cryne
President & CEO
Canadian Employee Relocation Council

Canadian Employee Relocation Council

Convention Final Announcement – June 18

Need to be re-certified? Appraisers recertification course coming soon!

A recertification course will be held on Saturday, May 11, 2019 between 9:00 am and 4:00 pm (approximate times to be clarified).

( Collège Notre-Dame-de-Foy), Quebec

 

Book this date on your schedule and we will send you more information shortly. The registration link is not ready and you will receive it soon.

FAQ – 3 Years Prior Service

FAQ – 3 Years Prior Service:

Q:            Is there a specific location within the appraisal report for the statement pertaining to the three (3) years prior services on the subject property?

A:            Yes, the USPAP requires the disclosure for prior services to appear in the “Certification” of the appraisal report. The Conduct section of the ETHICS Rule states in part:

“If known prior to accepting an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in each subsequent report certification…. any services regarding the subject property performed by the appraiser within the three-year period immediately preceding acceptance of the assignment, as an appraiser or in any other capacity.”

SOURCE: http://appraisal.answerbase.com/2543307

 

Also, if an appraisal report is being completed by a Candidate Member, and their Supervisory Appraiser, each signatory is required to have a statement pertaining to the provision of services.

i.e.: If the Candidate Member signing the appraisal report has not provided services on the subject property within the three-year period immediately preceding acceptance of the assignment, but the Supervisory Appraiser signing the report has, there must be a statement describing both situations, in the report “Certification”. If both the Candidate Member and Supervisory Appraiser either have or have not provided services, there must be statements that reflect the situation.

Examples:

Situation #1 – No services provided by the Candidate Member, but services provided by the Supervisory Appraiser:

“The Candidate Member has not provided services of any kind, on the subject property within the three-year period immediately preceding acceptance of this assignment, however the Supervisory Appraiser has provided services on the subject property within the three-year period immediately preceding acceptance of this assignment.”

Situation #2 – Services provided by the Candidate Member, but not by the Supervisory Appraiser:

“The Candidate Member has provided appraisal services, on the subject property within the three-year period immediately preceding acceptance of this assignment, however the Supervisory Appraiser has not.

Situation #3 – Services provided by the Candidate Member, and by the Supervisory Appraiser:

“Both the Candidate Member and the Supervisory Appraiser have provided services on the subject property within the three-year period immediately preceding acceptance of this assignment.”

Situation #4 – No Services provided by the Candidate Member, nor by the Supervisory Appraiser:

“Neither the Candidate Member nor the Supervisory Appraiser have provided services of any kind on the subject property within the three-year period immediately preceding acceptance of this assignment.”

Discounted rate for the Residential Cost Approach Certification online class

CNAREA is proud to announce a new agreement with CoreLogic/Marshall & Swift that provides CNAREA members a discounted rate for the Residential Cost Approach Certification online class.  Effective immediately CNAREA members will be able to purchase the online class for the discounted price of $129 US.  The course is a 9 module, self-paced program that cover several topics including; Single and Multi-family Residences, Quality of Construction, Obtaining Base Costs, Lump Sum Adjustments, Interpolation, Depreciation, Segregated Costs, and the mechanics of Form 1007. 

 

Once registered for the course, students are able to login and out as often as they like, for the 30 day active period. Upon completion of the course, students will be required to successfully complete a final Residential Cost Approach Certification Test.  (Passing Grade is 80%).   For those members who require CNA202 – Residential Cost Approach, this course along with the 2-day in-class session comprises the entire Cost Approach Course.  For those members who have already completed the requirements for CNA202 (Old 6.7 course), this on-line offering from CoreLogic will earn 8 hours of continuing Education requirements.

 

As an added bonus, CoreLogic has agreed to offer a 10% discount off any New Purchase or Renewal Purchase of their Marshall and Swift Cost Manual products.  (Book or Software)

 

Please ‘purchase’ your access code on the CNAREA Education webpage.  Upon registering for the course, your Discount Code will be forwarded to you, to allow you to purchase the course from CoreLogic.  Please be sure to receive your Course Discount Code before you register for this online portion of the Residential Cost Approach Certification Course.

 

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