The Appraisal Institute of Canada (AIC), the leading professional organization for real estate valuation in Canada, proudly announced the election of Richard Colbourne of Halifax as its President for the 2017-2018 term. His formal induction took place during the prestigious 2017 International Valuation Conference, a landmark event recently held in Ottawa, drawing appraisal professionals and thought leaders from across the globe. This appointment signifies a pivotal moment for the AIC, reinforcing its commitment to expert leadership and the continued advancement of the appraisal profession in Canada.

Colbourne’s ascent to the presidency is the culmination of a distinguished and multi-faceted career marked by unwavering dedication to real estate appraisal and property valuation. Currently serving as the Senior Director of Valuation, Property Tax, and Training with Young and Associates Real Estate Appraisals and Consultants, a prominent firm with offices strategically located in Bridgewater and Truro, Nova Scotia, Colbourne brings a wealth of practical and strategic experience to his new role. His Accredited Appraiser Canadian Institute (AACI) designation, which he earned in 1994, is a testament to his rigorous professional training and expertise, positioning him as a highly respected figure within the industry.

Throughout his career, Mr. Colbourne has specialized in the intricate fields of property tax assessment, complex valuation assignments, and comprehensive real estate consulting. These areas demand not only an acute understanding of market dynamics and valuation methodologies but also a deep appreciation for the legal and regulatory frameworks that govern property ownership and taxation in Canada. His expertise in property tax assessment, in particular, is critical, as it directly impacts municipal and provincial revenues and ensures fairness and equity for property owners. His consulting work further extends his influence, providing invaluable guidance to individuals, businesses, and government entities on critical real estate decisions.

Beyond his private sector accomplishments, Colbourne boasts an impressive track record of leadership in the public domain. He has held significant leadership positions in property assessment and taxation with both municipal and provincial governments, demonstrating his capacity to navigate complex administrative and policy landscapes. This extensive public service background offers him a unique perspective on the interplay between government policy, economic realities, and the practicalities of property valuation, equipping him with a holistic view crucial for leading a national professional body like the AIC.

Furthermore, Colbourne enjoyed a long and impactful career with the Government of Canada, where his roles included Senior Real Estate Advisor, Regional Chief Appraiser, and most recently, Regional Manager of the Payment in Lieu of Tax (PILT) Program for Atlantic Canada. These federal appointments underscore his profound understanding of large-scale public asset valuation and management, as well as the intricate mechanisms governing federal land and property taxation. His experience with the PILT program, which addresses federal property taxation issues, highlights his ability to manage complex intergovernmental financial matters, a skill highly relevant to the diverse stakeholders of the AIC.

One of the defining characteristics of Mr. Colbourne’s career is the remarkable geographical breadth of his experience. Having had the opportunity to work in most provinces across Canada, he possesses a truly national perspective on real estate markets, regional economic variations, and the unique challenges and opportunities present in different parts of the country. This expansive exposure has endowed him with a broad and nuanced knowledge base encompassing the valuation of all types of properties—from residential homes and multi-residential complexes to commercial, industrial, and highly specialized purpose properties. The AIC emphasizes that such comprehensive expertise is indispensable for a leader tasked with representing and guiding a profession that spans such a diverse and vast nation.

Colbourne’s commitment to the profession extends beyond his professional roles. He is a past-president of the Nova Scotia Real Estate Appraisers Association, showcasing his dedication to regional professional development and advocacy. Currently, he continues to serve on that board as the AIC Director for Nova Scotia, acting as a vital link between the national institute and provincial members, ensuring that regional concerns and perspectives are effectively communicated and integrated into national strategies.

A Strong Collective: The AIC Executive Committee for 2017-2018

Richard Colbourne is joined on the AIC Executive Committee by a distinguished group of professionals, each bringing their unique expertise and regional insights to the leadership table. This committee is instrumental in steering the strategic direction of the Institute and upholding its high standards of practice.

• Peter McLean, President-Elect, representing Ontario, is poised to assume future leadership, indicating a strong succession plan for the Institute.
• Thomas Fox, Vice President, from Saskatchewan, contributes a vital Western Canadian perspective to the committee’s deliberations.
• Darrell Thorvaldson, Vice President, hailing from Manitoba, further strengthens the Western and Central Canadian voice within the leadership.
• Dan Brewer, recognized as a Fellow and past president from Ontario, offers invaluable institutional memory and continuous leadership, drawing on his extensive experience.
• Keith Lancastle, the esteemed CEO and a non-voting member, provides essential executive guidance and operational oversight, ensuring the smooth functioning of the AIC’s extensive programs and services.

National Representation: The 2017/2018 AIC Board of Directors

The broader 2017/2018 Board of Directors comprises experienced professionals from across Canada, ensuring that the diverse interests and unique regional market conditions of the country’s appraisal professionals are well-represented. This national representation is crucial for developing policies and initiatives that are relevant and beneficial to all AIC members.

• Craig Barnsley and Dan Jones, representing British Columbia, bring insights from one of Canada’s most dynamic real estate markets.
• John Manning and Ernie Paustian, from Alberta, contribute perspectives from a region heavily influenced by natural resources and diverse urban centers.
• Paula Malcolm-Schaller, representing Ontario, reflects the interests of appraisers in Canada’s largest economic province.
• Georges Semine, from Quebec, ensures representation for the distinct real estate and legal frameworks of the province.
• Mike Kirkland, representing Newfoundland, offers insights into the Atlantic region’s specific market conditions.
• Jan Wicherek, from Prince Edward Island, provides a voice for the smallest Canadian province, highlighting its unique appraisal landscape.
• Adam Dickinson, representing New Brunswick, further strengthens the Atlantic Canadian representation, contributing to a comprehensive national outlook.

The collective wisdom and varied geographical experiences of the Executive Committee and the full Board are foundational to the AIC’s mission to uphold public trust and promote the highest standards of professional real estate appraisal throughout Canada.

Recognizing Excellence: Awards Presented at the 2017 International Valuation Conference

The 2017 International Valuation Conference in Ottawa served not only as a platform for knowledge exchange and leadership induction but also as an opportune moment to celebrate outstanding contributions to the appraisal profession. Several prestigious awards were presented, highlighting the dedication, integrity, and innovation within the AIC community.

The Fellow Designation: AIC’s Highest Honour

The pinnacle of recognition within the AIC, the Fellow designation, was bestowed upon three exceptional designated members. This award is reserved for individuals who have not only achieved professional excellence but have also consistently embodied the core values and integrity of the AIC throughout every facet of their distinguished careers. Recipients of this honour serve as exemplars for the entire profession, inspiring adherence to the highest ethical and professional standards. This year’s esteemed recipients were:

• Dan Brewer, Fellow of Ontario, recognized for his significant contributions and leadership within the province and nationally.
• Greg Wilkinson, Fellow of Manitoba, celebrated for his enduring commitment and impactful work in his region.
• Charles Hardy, Fellow of Nova Scotia, acknowledged for his long-standing dedication and influence in the Atlantic Canadian appraisal community.

Honorary AACI: Recognizing Significant Contributions by Non-Members

In a unique demonstration of its commitment to collaboration and recognizing broader influences on the profession, an Honorary AACI designation was awarded to non-members who have made significant, indelible contributions to the Institute and the field of appraisal. This special recognition underlines the AIC’s appreciation for external expertise and partnership. The distinguished recipients included:

• Andre Gravel and John Bridal from the University of British Columbia (UBC) were honored for their pivotal and “integral role in the delivery of AIC’s Program of Professional Studies.” Their academic contributions and dedication to educating the next generation of appraisers are fundamental to maintaining the profession’s intellectual rigor and high standards. The Program of Professional Studies is a cornerstone of professional development for appraisers in Canada, and their involvement ensures its continued excellence.
• Keith Lancastle, CEO of AIC, also received this honorary distinction “for his strong leadership and direction since joining the organization.” This recognition from the Institute he leads speaks volumes about his profound impact on the AIC’s strategic growth, operational efficiency, and enhanced visibility within the national and international valuation communities. His visionary leadership has been instrumental in navigating the challenges and opportunities facing the profession.

President Citations: Honoring Dedicated Volunteers

The President Citations were awarded to some of AIC’s most dedicated and long-standing volunteers. Volunteers are the lifeblood of any professional organization, and these citations serve to acknowledge the invaluable time, effort, and passion contributed by individuals who tirelessly work behind the scenes to support the AIC’s mission and initiatives. This year, the citations recognized:

• Glenn Fletcher
• Terry Brooke
• Philson Kempton

Their unwavering commitment to serving the Institute and its members forms the backbone of the AIC’s success and outreach efforts.

Top Appraiser Under 40 Awards: Celebrating Emerging Talent

Highlighting the future of the appraisal profession, the “Top Appraiser Under 40” awards were presented to young professionals who have demonstrated exceptional talent, potential, and dedication early in their careers. This award not only celebrates individual achievement but also encourages and inspires the next generation of leaders in real estate valuation. The recipients of this forward-looking award were:

• Tyler Beatty
• Farah-Martine Dai

These awards underscore the vibrancy and evolving nature of the appraisal profession, signaling a bright future guided by both seasoned veterans and dynamic new talents.

The Future Under Richard Colbourne’s Leadership

As Richard Colbourne steps into the presidency of the Appraisal Institute of Canada, the industry looks forward to a period of continued growth, innovation, and adherence to the highest professional standards. His unparalleled experience, spanning public and private sectors, diverse property types, and a national geographical scope, uniquely positions him to lead the AIC effectively. Under his guidance, supported by a strong Executive Committee and a nationally representative Board, the AIC is poised to further enhance its role as a beacon of excellence in real estate valuation, ensuring that Canadian appraisal professionals remain at the forefront of the industry globally. His tenure promises to build upon the Institute’s rich legacy, driving forward initiatives that strengthen the profession, protect the public interest, and adapt to the evolving demands of the Canadian real estate market.