UBC Real Estate Division

UBC/AIC Certificate in Residential Valuation

The Appraisal Institute of Canada and UBC Real Estate Division are pleased to offer the Certificate Program in Residential Valuation leading to the Canadian Residential Appraiser (CRA) designation. The Certificate in Residential Valuation program is the primary means for AIC candidates to earn the CRA. Candidates with university degrees and who meet the program prerequisites are fast-tracked to the CRA designation. The Certificate also introduces a new elective course to help candidates target their employment goals.


The Certificate in Residential Valuation was endorsed by the AIC Board in June 2012, and approved by UBC in May 2013.

Admissions and Eligibility

Admission to the program is based upon applicable post-secondary education. The Certificate prerequisites include:

  1. University degree completion
  2. BUSI 100 Micro Foundations of Real Estate Economics (or equivalent)
  3. BUSI 101 Capital Markets and Real Estate (or equivalent)

Normal admission requirement is successful completion of an undergraduate degree offered by a Canadian university. Non-Canadian degrees and other types of degrees are evaluated on a case-by-case basis. 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.

Courses Required

Core Courses

  • BUSI 112 – Canadian Real Property Law and Real Estate Ethics
  • OR BUSI 111 – BC Real Property Law and Real Estate Ethics
  • BUSI 330 – Foundations of Real Estate Appraisal
  • BUSI 400 – Residential Property Analysis
  • BUSI 352 – Case Studies in Residential Appraisal (AIC members prior to January 1, 2016 are exempt)

Elective Courses

  • Students must complete one of the following:
  • BUSI 443 – Foundations of Real Property Assessment, OR 
  • BUSI 433 – Real Estate Business
  • Students must complete one of the following:
  • BUSI 344 – Statistical and Computer Applications in Valuation, OR 
  • BUSI 121 – Foundations of Real Estate Mathematics


Students currently working toward the CRA designation are eligible for the Certificate in Residential Valuation program. The Certificate will not be issued retroactively to students who have already completed all courses currently required for the CRA designation (excluding Professional Designation Requirements).

Partner Institutions

Students completing the UBC BUSI courses through collaborative agreements with other institutions (e.g., University of Guelph, Seneca College, Lakeland College, Langara College) will be eligible for the Certificate. This may be in addition to Certificates or Diplomas issued by the partner institutions.

Course Recognition and Residency Requirements

The UBC Real Estate Division may at its discretion:

  1. Recognize for Certificate program transfer credit post-secondary courses completed elsewhere that are substantially similar in content and rigour to the specified BUSI courses. UBC issuance of the Certificate requires, at minimum, that 50% of the Certificate program content (3 courses) be completed at UBC (or via collaborative agreement with partner institutions).
  2. Recognize for Certificate credit the courses completed in other UBC Certificates, Diplomas, or Degrees. UBC requires at minimum that 50% of the courses in the Certificate program have not already have been relied upon for another Certificate, Diploma, or Degree (i.e., there can be no "double-counting" of course credits within the 50% residency requirement).

See the Course Equivalencies and Transcript Reviews webpage for more information.

Professional Designation Requirements

In addition to completing the Certificate in Residential Valuation program, CRA candidates will need to successfully complete the Guided Case Study (BUSI 398), the AIC Professional Practice Seminar, and the AIC Applied Experience Program (link available to AIC members only) in order to obtain CRA accreditation. Students should consult the Appraisal Institute of Canada directly for details on candidate membership, the Applied Experience Program (link available to AIC members only), candidate membership, and other professional designation requirements.

Course Regulations

View a copy of the full course regulations from the Real Estate Division Student Handbook: Credit Courses.


All Real Estate Division courses end with a final examination. For more information on exam scheduling, availability, and registration, go to Examinations.

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