MVA RESIDENTIAL DESIGNATION Market Value Appraiser - Residential is a professional designation for those who have demonstrated practical and current experience in the local real estate market and have completed a prescribed education program in the field of residential appraisal. The MVA-Residential designation is granted by provincial real estate associations to members who meet the professional and education requirements in conjunction with the Alliance for Canadian Real Estate Education (ACRE). Requirements of the MVA-Residential Program fulfill the criteria established by Canada Mortgage and Housing Corporation (CMHC) under its Residential Appraisal Designation. MVA-Residential designees are also able to undertake appraisals through GE Capital Mortgage Insurance Canada and lending institutions. Professional Requirements Proof of five years current and active sales experience; Proven understanding and application of direct comparison and cost approaches to value; Submission of a demonstration form appraisal report; Proof of errors and omissions insurance coverage for the appraisal function; Be a member of a local real estate board and/or provincial association. Education Requirements Successful completion of the following Certificate Program Courses: - Principles of Appraisal - Real Property Law - Principles of Mortgage Financing - Residential Construction in Manitoba - Valuation Reporting Skills (the above courses must be completed prior to enrollment of this course) NOTE: Students who have completed Phases 1 - 3 of Real Estate as a Professional Career will receive credit for Principles of Mortgage Financing.