CNAREA & CPPAG
CNAREA Canadian National Association of Real Estate Appraisers – is a national, not for profit, independent association that certifies and regulates real property appraisers in Canada. It was established to provide an effective membership orientated organization of professional real estate appraisers based on their academic qualifications, training, and practical experience. The Association is dedicated to raising the standards of the profession, to maintaining the professionalism of its members through continuing education, to advancing the recognition of its members as qualified appraisers, and to protecting the consumer.
CPPAG Canadian Personal Property Appraisers Group – is a Canadian made, national, personal property appraisal organization comprising a network of accredited appraisers spanning from coast to coast. CPPAG provides personal property appraisal training and accreditation to its members who come from a diversity of backgrounds including: real estate, bailiffs, insurance, equipment dealers, accounting, financial institutions, and lawyers. The CPPAG requires USPAP compliance for all members and their reports.
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangibles, and business valuation appraisal analysis and reports in Canada and the United States. USPAP, as it is commonly known, was first developed in the 1980s by a joint committee representing the major U.S. and Canadian appraisal organizations.
In order to provide a higher level of professionalism, the Canadian National Association of Real Estate Appraisers maintains an active role with the Appraisal Foundation, and sits on the Appraisal Foundation Advisory Council (TAFAC). All members of the Canadian National Association of Real Estate Appraisers and the Canadian Personal Property Appraisers Group must abide by the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation. These standards are the international benchmark of the appraisal profession.
Any Designated Member, or any Candidate Member of the Canadian National Association of Real Estate Appraisers and the Canadian Personal Property Appraisers Group, agrees to abide by the Code of Ethics as promulgated by the Association (Bylaws Article 5). In summary:
The appraiser must perform competently with impartiality, objectivity, independence, and without accommodation of personal interests.
The appraiser must not accept assignments which are beyond their knowledge, experience, or professional competence.
The appraiser is bound to protect the confidential nature of the appraiser client relationship.
The appraiser is obliged to maintain the highest standards of professional conduct with clients, colleagues, and their community.
Errors and Omissions Insurance
CNAREA provides all designated members with professional liability insurance for error and omissions. This program provides insurance for appraisal assignments completed in Canada.
Professional liability insurance coverage is mandatory for designated members.
Elliott Appraisals carries $2,000,000 in E&O insurance for each of it’s appraisers. Appraisers are also covered by WCB Insurance.