Seneca offers courses which contribute to the Appraisal Institute of Canada's CRA and AACI designations, as well as the University of British Columbia's (UBC) Diploma in Urban Land Economics. Successful completion of the AIC course components of the program also earn students 50-60 degree credits toward the Bachelor of Business in Real Estate Program (BBRE) offered by the University of British Columbia (UBC) and Thompson Rivers University (TRU).
Seneca does not conduct transcript reviews. Student taking AIC courses at Seneca are encouraged to have their postsecondary transcripts reviewed by the Real Estate Division, UBC for possible exemptions according to the Real Estate Division's policies and fee schedules. Upon completion of the transcript reviews, students will receive a program plan indicating which courses (if any) they are exempt from and which are required to achieve an AIC designation.
This AIC program is designed for highly motivated people seeking to join the real property valuation profession as well as for valuation practitioners already employed in the industry who want to upgrade their education.
Property appraisers perform real property appraisals. Appraisers provide an opinion of value for various reasons such as current value for purchase and sale of property, future value of real property, value for lending purposes, value of property to be expropriated by government, litigation, and value for determining property assessment levels and property tax appeals. They use the most current and reliable data sources and systems to properly analyze markets. The AIC offerings cover principles of real estate economics, the role of capital markets, relevant principles of real estate law, real estate mathematics, residential property analysis and statistical and computer applications in valuation.
Students are invited to attend an information session.
Persons with the Appraisal Institute of Canada's CRA (Canadian Residential Appraiser) designation find employment as residential appraisers in financial institutions, insurance companies, private appraisal firms, corporate real estate branches, property tax agency firms and in the public sector such as for municipalities, various government ministries and assessment offices.
Those with the AACI (Accredited Appraiser Canadian Institute) find employment in similar areas outlined above, with a focus on commercial and industrial appraisals.
Part-time Studies courses are being offered in either of the following four formats: Online, Flexible, In-person, Hybrid. Click Availability below to see current offerings.
This course introduces the basic principles of microeconomics and applies these concepts to current real estate issues. Topics covered include opportunity costs, supply and demand, elasticity, market equilibrium, efficiency and equity, the role of the government, consumer choice, externalities, imperfect competition, and monopolies.
AIC100/BUSI 100
This course examines the impact of current monetary and fiscal policies on real estate investment decisions. The overall quality of production and the overall price level are used to monitor developments in the economy as a whole. The monetary system is studied as a crucial element in determining the long-run behaviour of price levels, the inflation rate, and other nominal variables. Monetary and fiscal policy is analyzed through open and closed economies.
This course is designed to provide students with an introduction to the law of real property. Topics include the Canadian legal system, contract and tort law, the nature of estates and interests in land, registration of land interests, mortgage law, tenancies, condominium law, and ethical issues in the real estate profession.
None
Introduction to concepts and techniques for appraising the value of real estate. This course begins with an introduction to the appraisal profession in Canada and summarizes the appraisal process. The three classic approaches to value are presented and analyzed as they may be applied to single-family and small, multi-family residential properties.
This course is designed to give real estate professionals, particularly appraisers, a working knowledge of the physical aspects of residential properties. The course covers how houses are sited, designed, and constructed in Canada, as well as how factors such as design, material selection, and construction type affect their value. Also covered are the identification and evaluation of problems due to design, construction, or deterioration, their effect on value, and how problems should be reported.
Recommended: AIC330/BUSI 330
This course consists of core topics directly related to the real property taxation system and its administration. Topics include assessment law, organizational structure, records and data systems, quality assurance, and mapping.
(BUSI 121) This course introduces the techniques of investment and statistical analysis in a real estate context. Topics include: statistical techniques, cash flow analysis, discounting, compounding, and the mathematics of real estate finance and investment analysis. There is also a brief overview of graphing and surveying. A personal computer with spreadsheet software is required.
None
Explores creative, practical uses of statistical and computer applications in determining and analyzing real estate value. Through case studies and hands-on computer work (e.g., using SPSS, NCSS, Excel), students learn the fundamentals of exploratory data analysis and appraisal valuation modeling (AVMs).
(BUSI 121) This course introduces the techniques of investment and statistical analysis in a real estate context. Topics include: statistical techniques, cash flow analysis, discounting, compounding, and the mathematics of real estate finance and investment analysis. There is also a brief overview of graphing and surveying. A personal computer with spreadsheet software is required.
The Real Estate Investment Analysis and Advanced Income Appraisal course AIC331 is intended to build upon the foundations of appraisal learned in previous courses. Students will be introduced to the theory and techniques involved in the appraisal and analysis of income real estate investments. The course will provide students with detailed information on cash flow analysis, leasing, taxation, appraisal, and risk management.
The Commercial Property Analysis course is intended to give the real estate practitioner student a working knowledge of the design, construction, and inspection of commercial properties. The course will provide you with detailed information on building design, construction, materials, components, and systems for office, apartment, retail, industrial, and agricultural properties. The material is intended to be introductory in nature; it is important to keep in mind that study of this course by itself does not certify the reader as a qualified building inspector or developer of commercial properties. The purpose of this course is not to make you an expert in the design, construction, and post construction evaluation of commercial properties - experts and specialists offer each of these services and can provide much more in-depth knowledge of this area than would ever be required of a real estate professional. This course will instead offer a practical overview of what architects, engineers, and other specialists must consider when they are designing and constructing commercial properties, and offer insight into how these factors affect the value of the real estate asset.
Past graduates of AIC 444 (BUSI 444) will receive credit towards the AIC344 (BUSI 344) requirement.
Upon successful completion of this program, students are able to:
Admission to become a Candidate Member will only be open to those who hold at least two years of postsecondary studies. To qualify for Candidate membership, you must be of legal age and have successfully completed:
For information about AIC membership, candidacy, and designation requirements, please refer to the AIC's website and under the heading "Become an Appraiser" at the bottom of the webpage, select "Path to AIC Designation".
Students taking AIC courses at Seneca or UBC are encouraged to have their postsecondary transcripts reviewed for possible exemptions which are conducted by the Real Estate Division, UBC according to the Real Estate Division's policies and fee schedules. Upon completion of the transcript reviews, students will receive a program plan indicating which courses (if any) they are exempt from and which are required to achieve an AIC designation.
| Pre-Core Courses | Seneca Equivalent | |
| BUSI 100 | Microeconomics | AIC100 |
| BUSI 101 | Macroeconomics | AIC101 |
| AIC Core Courses (For CRA and AACI Designations) | ||
| BUSI 112 | Canadian Real Property Law and Real Estate Ethics (3 credits) | AIC112 |
| BUSI 330 | Foundations of Real Estate Appraisal | AIC330 |
| BUSI 400 | Residential Property Analysis | AIC400 |
| BUSI 443 | Foundations of Real Property Assessment and Mass Appraisal | AIC443 |
| CRA Designation - Canadian Residential Appraiser | Seneca Equivalent | |
| BUSI 121 | Foundations of Real Estate Mathematics | AIC121 |
| OR BUSI 344 | Statistical and Computer Applications in Valuation | AIC344 |
| BUSI 352 | Case Studies in Residential Appraisal - Offered through UBC | |
| Professional Designation Requirements | ||
| BUSI 398 | Residential Property Guided Case Study - Offered through UBC | |
| Applied Experience and Mentoring Program work experience, oral and written examination - through AIC Provincial Office | ||
| The Introduction to Professional Practice (ITPP) - Offered through UBC | ||
| Appraisal Institute's AIC 101 – Introduction to the Appraisal Profession - Offered through AIC | ||
| AACI Designation - Accredited Appraiser Canadian Institute | Seneca Equivalent | |
| BUSI 121 | Foundations of Real Estate Mathematics | AIC121 |
| BUSI 293 | Introduction to Financial Accounting | ACC120 |
| BUSI 300 | Urban and Real Estate Economics - Offered through UBC | |
| BUSI 331 | Real Estate Investment Analysis and Advanced Income Appraisal | AIC331 |
| BUSI 344 | Statistical and Computer Applications in Valuation | AIC344 |
| BUSI 401 | Commercial Property Analysis | AIC401 |
| BUSI 442 | Case Studies in Appraisal I - Offered through UBC | |
| BUSI 452 | Case Studies in Appraisal II - Offered through UBC | |
| BUSI 460 | Critical Analysis and Forecasting in Real Estate - Offered through UBC | |
| Professional Designation Requirements | ||
| BUSI 497 | Agricultural Guided Case Study - Offered through UBC | |
| OR BUSI 499 | Income Property Guided Case Study - Offered through UBC | |
| Applied Experience and Mentoring Program work experience, oral and written examination - through AIC Provincial Office | ||
| The Introduction to Professional Practice (ITPP) - Offered through UBC | ||
| Appraisal Institute's AIC 101 – Introduction to the Appraisal Profession - Offered through AIC | ||
Alexander Tyutyunnik, M.I.M.A., AACI, P.App
Alexander's experience in the real property valuation industry spans back to 2006 where he started off as a private-sector residential property appraiser with Paul Harris Appraisal Services. Later, he moved to Municipal Property Assessment Corporation (MPAC) to further his knowledge as a property inspector and property valuation analyst. Currently, Alexander enjoys working at the City of Hamilton where he has held several progressively senior positions, but currently serves as a Tax Assessment and Appeals Advisor. Alexander enjoys teaching and mentoring the next generation of valuation professionals at Seneca Polytechnic and the University of British Columbia.
In conjunction with his professional experience, Alexander has completed the related certificate and diploma programs with the Sauder School of Business's Real Estate Division at the University of British Columbia.
When he's not working or teaching, Alexander is a hockey fanatic and is also known to be a die-hard Leafs fan.
Belinda Becker
Program Assistant
belinda.becker@senecapolytechnic.ca
Lisa Ballantyne
Academic Program Manager
lisa.ballantyne@senecapolytechnic.ca
437-312-0065
For more information about this program, fill out the following form.
Students are invited to attend an information session.