The Post-Graduate Certificate in Real Property Valuation program (PGCV) has been developed in a partnership between the UBC Real Estate Division and the Appraisal Institute of Canada (AIC). The PGCV program is primarily intended to be a bridging program for graduates of business schools across Canada, offering these graduates a clear career development path and encouraging them to join the real property valuation profession. The program has been specifically requested by the Appraisal Institute of Canada (AIC), the pre-eminent accrediting body for appraisers across Canada, and has been developed in close consultation with AIC administration and members of the valuation profession.
This program is aimed at graduates of business schools across Canada, intending to enrich the students’ general business knowledge with skills and abilities specific to real property valuation. This program has been developed in collaboration with AIC, who will recognize graduates of this program as having met all of the educational requirements for its most senior designation, the AACI. To obtain the AACI designation candidates must also complete the Guided Case Study (BUSI 499 or BUSI 497), AIC 101 - Introduction to the Appraisal Profession, AIC’s Professional Practice Seminar (within 12 months of being admitted as a candidate member), and the Applied Experience program.
Admission to the program is based upon applicable post-secondary education. Minimum admission requirement is the completion of an undergraduate degree. Normal admission requirement is successful completion of an undergraduate business degree offered by a Canadian university (e.g., Bachelor of Commerce, Bachelor of Business Administration, etc.). Non-Canadian degrees and other types of degrees are evaluated on a case-by-case basis using the established PGCV Admissions Guidelines. If education was completed at a non-English-speaking institution, students will be required to demonstrate proficiency in English. Applicants to the program must complete the application form and submit the required documentation and applicable fees for UBC admission and transcript review.
Students may apply for transfer credit on the basis of previous post-secondary education which is essentially similar to courses in this program. Where exemptions have been granted, a student must complete at minimum 50% of the total program credits to be eligible for a UBC credential. See the Course Equivalencies and Transcript Reviews webpage for more information.
The PGCV Program consists of a total of six courses, five of which are required and one of which is chosen as an elective. Most courses are 13 weeks in length. All courses are designed to be completed by distance education, with written and multiple-choice assignments submitted according to a set schedule, followed by a final examination. The Internet is used as a supplemental resource, as well as the use of videos in some courses.
Most AIC Education Program courses are offered in both Winter terms, with select courses also available in the Summer term. Subject to prerequisites, students may take the courses in any order. Most PGCV Program students are working professionals and find one course per term manageable. Students wishing to accelerate their program however, may register for more than one course at the same time.
The following courses are required in the PGCV program:
- BUSI 330 Foundations of Real Estate Appraisal
- BUSI 331 Real Estate Investment Analysis and Advanced Income Appraisal
- BUSI 401 Commercial Property Analysis
- BUSI 442 Case Studies in Appraisal I
- BUSI 452 Case Studies in Appraisal II
In addition to the 5 core courses, one of the following elective courses is required:
- BUSI 300 Foundations of Real Estate Economics
- BUSI 344 Statistical and Computer Applications in Valuation (as of January 2007)
- BUSI 443 Foundations of Real Property Assessment and Mass Appraisal
- BUSI 444 Advanced Computer Assisted Mass Appraisal
- BUSI 460 Critical Analysis and Forecasting
These courses are senior level undergraduate level courses, focussing on real estate and urban economics, an established research area within the Sauder School of Business. The required courses provide students with a solid foundation in real property valuation principles, as well as an understanding of how these principles are applied in a practical setting. The elective course provides an opportunity for students to broaden their valuation education, exploring areas of interest that may eventually lead to specializations in their professional career. The elective courses have been specifically chosen to broaden students’ awareness of career opportunities beyond traditional valuation, in order to diversify their professional capabilities.
Successful completion of the PGCV program will earn students credits toward the Bachelor of Business in Real Estate Program (BBRE), as offered by the University of British Columbia (UBC).
Students should expect to commit at least ten hours per week to their studies and assignments. The material is not easy. Diligence, organization, and self-discipline are vital.
The Hewlett Packard (HP) 10BII calculator will be used in the demonstration of analytical techniques in the program of studies; however, there are a variety of pre-programmed financial calculators on the market, some of which will perform more sophisticated calculations or have greater programming capacity. You may use any financial calculator for the course and examination, providing it is silent, cordless, handheld and not alphanumeric and programmable. Many stationary and department stores sell the HP 10B II and you are encouraged to "comparison" shop because discount or sales prices are often available. If you are unable to locate the HP 10BII calculator in your area, one can be purchased online at the Real Estate Division Bookstore.
All students must have access to a personal computer and internet access when taking any Real Estate Division course. Students should also ensure that they have a high-quality printer (e.g., an inkjet or a laser) which will provide clear printouts of information from the Real Estate Division website.
Professional Designation Requirements
After completing the PGCV program, AACI candidates will need only complete the Guided Case Study (BUSI 499 or BUSI 497), the Professional Practice Seminar, and the Applied Experience Program in order to obtain AACI accreditation. Students should consult the Appraisal Institute of Canada directly for details on the Applied Experience Program, articling, candidate membership, and other professional designation requirements.