MVA Appraisal Designation
The appraisal activities of MVA-Residential designees must be a function secondary to trading in real estate. Designees are required to maintain an active sales practice, must have at least five years of experience in residential real estate sales and submit:
- A Sample Appraisal Report
- Documentation for sales and fee appraisal activity totals for the last five years.
- Proof of Errors and Omissions Insurance coverage for work in appraisal.
Also, applicants must have completed these courses:
- Principles of Appraisal
- Principles of Real Property Law
- Principles of Mortgage Financing
- Title Searching
- Construction and Cost Estimating
- Appraisal Reporting Skills
Real Estate Institute of Canada
The FRI (Fellow of the Real Estate Institute) designation is Canada's most established real estate designation and is awarded to less than 5% of today's Real Estate professionals. Holding the FRI signifies a real estate education that meets and exceeds licensing requirements PLUS experience that assures a practitioner with knowledge, not just information. FRI members are governed by the Institute's Code of Professional Conduct.
FRI Designation Course requirements include:
- Canadian Real Estate Law
- Canadian Contract Law
- Real Estate Investment Analysis
- Real Estate Valuation
- Ethics & Business Practice · Consumer Behavior & Negotiating
- Urban Geography (university)
- Micro & Macro Economics (university)
- Five years minimum of credible Real Estate experience.
What does the FRI mean to the public?
Commercial Division Member
Commercial Division Members have a specialized knowledge and experience in commercial, industrial and investment business transactions. They also have access to a resource base of Commercial buyers and sellers and can place listings on TREB's Commercial Multiple Listing Service & Public websites.