Introducing our new newsletter AIC-Ontario Connect! This newsletter aims to keep members, stakeholders and the public informed and engaged, emphasizing the importance of strong relationships and transparency. Additionally, the newsletter will provide association updates, including news on membership, events, and organizational developments. Stay informed!



1) Appraisal Institute of Canada- Ontario Board members at the National AGM

2) Municipal Property Assessment Corporation

3) Toronto Regional Real Estate Board

4) Financial Services Regulatory Authority of Ontario

You asked us, we heard you!

In the new business portion of the AIC Annual General Meeting, AIC-ON Ontario Board Members Demitry Omrin P,App, AACI and Russell Enns P.App AACI advocated for the membership. They requested the National Board increase the CRA's ability to appraise from 4 units to 6. The National Board will review the request considering the professional liability insurance program and CUSPAP. We will be tracking developments and hope the membership receives an update within the upcoming months.



AIC-ON CEO Margie Carlson,

AIC National Past President Claudio Politio,

AIC-ON President Alinda Dekker-Doucet,

and AIC-ON President Elect Russell Enns

met with TRREB to discuss the ongoing issue of Data Access.

AIC-ON's main concerns:

• Ensure all AIC-ON members, including candidates, have equal access to data resources.
• Remove restrictions on historical data searches.
• Understand TRREB’s plans to address data access coverage for boards who have not yet joined the PropTx IT system (e.g. Kitchener/Waterloo/Guelph).

Other concerns raised:

• Understand TRREB’s plans for showing square footage data on MLS listings.
• Explore solutions to address system misuse by our membership.
•  Learn about the transition period from now until when the PropTX system dominates the Ontario market, most real estate boards have joined and are following the same rules.

Next Steps for AIC-ON:

• The AIC Ontario Board is following up with TRREB on candidate access and historical searches. Other changes to PropTx appraiser access are likely and will be communicated once known.

FSRA regulates sectors such as:

• Pensions
• Financial Planners/Advisors
• Mortgage Brokering
• Property and Casualty & General Insurance
• Auto Insurance
• Co-Op Corporations
• Credit Unions & Caisses Populaires
• Loan & Trust

Why is AIC Ontario meeting with them?



AIC Ontario is meeting with FSRA because they regulate financial services in Ontario, including licensing of mortgage agents, brokers, and administrators. They also regulate loan and trust companies, and other financial services in Ontario. Consumers can complain to FSRA and have, in the past, complained about appraisers. Those complaints have been referred to AIC (National) given that they regulate the appraisal profession in Canada. AIC Ontario is building awareness of the profession with FSRA, ensuring that they know about the current issues faced by the industry and the role appraisers play in consumer protection.

In response to a recent consultation by FSRA on guidance to mortgage brokers on mortgage product suitability, AIC-ON sent a letter to FSRA to:

1. Request that mortgage brokers rely on real-time firsthand property assessments by designated appraisers
2. Increase awareness of the issues faced by the profession
3. Advise them about increasing instances of alterations (fraud) to member’s appraisal reports.

Next Steps for AIC-ON:

• AIC-ON has a planned meeting in July 2024 to provide FSRA greater depth & understanding about the appraisal profession.

• Continue to foster relationship with FSRA by holding semi-annual meetings.