In its efforts to remain on the cutting edge of industry education, the Real Estate Division in cooperation with the International Association of Assessing Officers (IAAO) has developed a program for the professional assessor in Canada. The program covers the fundamental concepts of appraisal, assessment administration, and computer assisted mass appraisal.
The program meets the educational course requirements for the IAAO’s designations: Certified Assessment Evaluator (CAE), Residential Evaluation Specialist (RES), and Mass Appraisal Specialist (MAS). The final course in the program includes the option of completing a case study examination, accepted by the IAAO as meeting one of the demonstration report requirements towards the RES, CAE, and MAS designations.
The Institute of Municipal Assessors recognizes completion of the Certificate Program in Real Property Assessment as meeting the core educational requirements leading to the AIMA and the MIMA designations. In addition, the IMA recognizes the Comprehensive Case Study as being equivalent to the residential mass appraisal demonstration report.
In addition, the program has been endorsed by the Trans-Canadian Assessment Training Program Steering Committee as meeting or exceeding all of its requirements for a core education course, and has been adopted by several jurisdictions as meeting their entry level employment requirements.
The Certificate Program in Real Property Assessment is a five-course distance education program. Students are expected to submit weekly assignments and projects, which are graded and returned with detailed explanations of the solutions. All Certificate Program Courses are offered in both Winter Term I: September to December and Winter Term II: January to April. Some courses may also be available in Summer Term 1: June to September.
BUSI 121 Foundations of Real Estate Mathematics
BUSI 330 Foundations of Real Estate Appraisal (Recommend BUSI 121)
BUSI 344 Statistical and Computer Applications in Valuation (Recommend BUSI 121 & 330)
BUSI 443 Foundations of Real Property Assessment and Mass Appraisal (Recommend BUSI 330)
Plus one of (NEW as of April 2, 2012):
BUSI 331 Real Estate Investment Analysis and Advanced Income Appraisal (Prerequisite BUSI 121 & 330), or
BUSI 444 Advanced Computer Assisted Mass Appraisal (Prerequisite BUSI 121 & 344; Recommend BUSI 330 & 443)
Students who enrolled in the program prior to September 1, 2007 may have modified requirements to complete the program. See the Assessment prior to September 2007 page.
Degree Requirement: in order to attain use of CAE designation, candidates must hold a Bachelors or higher degree from an accredited university or college. Please refer to the IAAO webpage for more information.
This is a sophisticated, technical and specialized program. It has been designed for practitioners already employed in the real estate industry who want to upgrade their education, and for highly-motivated people seeking to join the industry. Many of the courses in this program require familiarity with basic algebra. Students embarking on this program will first need to be formally admitted to UBC -- this application for admission must be made directly to the Real Estate Division (NOT to UBC's central admissions office). Please visit the Admissions webpage for more information. In general, applicants must have their grade 12 or equivalent standing and must submit their official high school transcript. Students who have not graduated from high school may be eligible for admittance as a mature student. For details on mature student admissions, please click here.
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. Please reference Course Equivalencies and Transcript Reviews for more information.
Students in Courses BUSI 121, 330, 344, and 443, should expect to commit ten or more hours per week to their course work.
Courses 344 and 444 require completion of assignments on a personal computer. These courses are extremely rigorous and students should expect to commit up to 20 hours or more on certain assignments and projects. Each course has a set schedule for assignments, projects, and examinations -- please note there are fees imposed for late submissions of assignments and projects, as well as for deferral of examinations or transferring to subsequent terms.
Internet access. Internet access is required in all Real Estate Division courses, as without this you will not have access to the many resources on the Course Resources webpage. Aspects of these courses, such as additional readings and other supplements, are available exclusively online. All of your assignments are to be submitted online. In addition, it is expected that all students regularly contribute to the online discussion forum during this term.
Use of statistical software. Students taking BUSI 344 and 444 require the use of a statistical software program. Please note that the cost of the software is not included in the course tuition.
Diploma Program Option
Students who complete the Certificate Program and subsequently choose to enter the Diploma Program will be exempted from five courses in the Diploma Program. In order to receive a diploma in a different option, students would have to complete the course requirements for the chosen option.
Comprehensive Case Study
The Comprehensive Case Study is a take-home final examination for BUSI 444. It is also recognized as meeting demonstration report requirements towards professional certification from the International Association of Assessing Officers (IAAO), the Institute of Municipal Assessors (IMA), and the Appraisal Institute of Canada (AIC). Please note: students who complete BUSI 444 with a partner institution (e.g., Lakeland College, Seneca College) will receive course credit for their final examination, but in order to receive demonstration report credit, students must submit their graded examination to the UBC Real Estate Division for review along with a $100 review fee.
New Option for Certificate Program Students
In response to requests from the Canadian valuation community to expand the scope of the Certificate Program in Real Property Assessment (CPRPA) to include more income appraisal content, BUSI 331 Real Estate Investment Analysis and Advanced Income Appraisal, has been added as an option to the CPRPA program. Students may now earn the CPRPA by enrolling in BUSI 331 or BUSI 444. However, some employers and professional organizations may continue to require BUSI 444 to be completed within the CPRPA program, so all students requiring the CPRPA for employment or designation purposes should confirm with their employer or professional association prior to enrolling in BUSI 331.
All Real Estate Division courses end with a final examination. Examination centres are established in most major centres across Canada. For more information, go to Examinations.