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On April 5, 2019, the Appraisal Standards Board (ASB) adopted modifications to theUniformStandards of Professional Appraisal Practice(USPAP). This action began in earnest with theissuance of a Discussion Draft in January 2018, followed by four exposure drafts with specificproposed revisions to USPAP. Written comments were received in response to each document, and oral comments were provided at each of four public meetings. Each member of the ASB readand carefully considered every comment. Based on the feedback received, the Board adopted revisions for the 2020-21 edition of USPAP
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If a licensee has successfully completed all required continuing education for the license renewal period ending September 30, 2019 on or before the continuing education completion deadline of June 30, 2019, then credit for all continuing education courses taken between July 1, 2019 and September 30, 2019 may be credited toward the license renewal period ending September 30, 2021
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The DRE may choose to utilize Consent to Administrative Supervision, in a consistent and equitable manner supported by sufficient relevant documentation for first time offenses, including continuing education violations, that do not rise to the level of negligence or USPAP non-compliance and suggest a need for further education or mentoring.
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The Illinois Department of Financial and Professional Regulation published a report highlighting that prior convictions are rarely a bar to obtaining a license. Of the hundreds of eligible applicants, less than one percent were denied a license, in whole or in part, because of their prior record.The annual report can be found below.
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The Small Business Administration issued revised guidance March 26 stating that an appraisal may be needed to evaluate the creditworthiness of commercial real estate loans below $500,000. New legislation that aligned SBA regulations with those from the federal bank regulatory agencies eliminated the appraisal requirement for commercial loans below the half-million-dollar threshold.
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The American Society of Appraisers, Appraisal Institute, American Society of Farm Managers and Rural Appraisers MBREA|, The Association for Valuation Professionals, American Guild of Appraisers, OPEIU, AFL-CIO, and RICS oppose an Increase in the Appraisal Threshold. The letter states that the proposal puts regulatory relief ahead of consumer protection or safety and soundness.
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What is ICAP's mission statement?
ICAP works to promote the appraisal profession and its image to the general public and to users of appraisal services. ICAP initiates discussion and analysis of issues affecting professional appraisers and monitors political action with the intent to influence legislation, regulation and public opinion toward the appraisal profession.
What are the benefits of an ICAP membership?
Click here for the benefits of an ICAP membership.
Who should join ICAP?
Real estate appraisers, accountants, assessors, attorneys, and anyone else who would like to stay up-to-date on regulation, legislation and everything that has to do with the latest developments in Illinois’s real estate appraisal profession.
How much are ICAP”s annual membership dues?
ICAP’s annual membership dues are $85 per year
When does my membership start and expire?
ICAP memberships start January 1st and expire on December 31st
How can I find my username or password?
Click here to request your username or password
Where can I log in?
Click here to log in
Where can I update my account?
Click here to update your account
Where can I find information about ICAP seminars?
Click here for the latest information about ICAP seminars
Where can I make a political action donation?
You can make a political action donation here
How can I get involved?
Click here for information about Joining an ICAP Committee
Who can I contact if I have other questions?
Click here to contact ICAP
Check out ICAP’s calendar of events to see the dates of upcoming continuing education, ICAP seminars, special events, ICAP Board Meeting dates and USPAP offerings. To view ICAP’s calendar of events click here.
There are currently no appraisers seeking positions.
Please click here to seek a position.
Click here for the IDFPR's Homepage
Click here for the IDFPR's Appraisal Homepage
Click here to lookup your Continuing Education
Click here for the current list of AMC Registrants
Click here to contact the IDFPR
Click here for the Illinois Appraisal Newsletter
Click here for the Real Estate Board Minutes
Click here to find your lawmaker
Click here for the Appraisal Licensing Act
Click here for the Administrative rules
ICAP represents real estate appraisers in Illinois through continuing communication with our State Representatives. ICAP has advocated for appraisers and influenced Illinois State Legislation and Regulation to ensure that appraisers are represented.
ICAP's political action fund - ICAP collects contributions from members and uses those funds to help elect candidates for public office who are supportive of appraiser related issues. To contribute to ICAP's PAC visit our website at www.icapweb.org
Participating in a membership of over 1,300 members gives you real strength. ICAP serves the interests of all our members whether they specialize in residential or commercial real estate.
Through our regular ICAP E-mail Updates and Social Media Campaign (Facebook, LinkedIn, Blog and Twitter) ICAP members can connect with other Illinois appraisers and stay up-to-date on regulation, legislation and everything that has to do with the latest developments in the real estate appraisal profession.
ICAP has created a bulletin board for appraisers seeking employment and employers offering career opportunities within the appraisal community. Membership can visit our Job Search Bulletin Board at www.icapweb.org.
ICAP Members can access hundreds of relevant appraisal related links at our website www.icapweb.org. Including our Appraisal Laws and Rules.
In addition to the seven hours of continuing education awarded by the State of Illinois, ICAP provides a vast array of business networking opportunities during ICAP's annual summer seminars. Meet your peers and develop life-long connections.
ICAP members receive special member-only pricing on ICAP's annual summer seminars, special deals from OfficeMax Products & Services, and up to 40% off normal Avis Rent-A-Car Rates.
Companies and individuals looking for ICAP members can quickly find them by using ICAP's Find an Appraiser search function. Potential clients can search by Name, City, Postal Code, County or any combination thereof.
Gain leadership skills and experience by serving on committees. Get involved with ICAP and grow your business. Meet and work with appraisal professionals. To volunteer for committee opportunities send us a message at www.icapweb.org.
Would you like to contribute to ICAP by serving on a committee? ICAP is searching for qualified candidates for their 2018-2019 committees.
Each of these committees works with ICAP Board members to promote the appraisal profession and its image to the general public and to users of appraisal services.
Are you interested in serving your profession as an appointee to the Illinois Real Estate Appraisal Administration and Disciplinary Board?
Are you interested in ICAPs recommendation to the Governor and/or Department to appoint you to the Illinois Real Estate Appraisal Administration and Disciplinary Board?
Receive timely news and information about our organization and services, as well as upcoming special events.
Phone: 312-616-9400 Fax: 312-616-9404 Address: 205 W. Wacker Drive Suite 202, Chicago, IL 60606
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ICAP is a political action group and so lacks the credentials to dispense professional appraisal advice. Rather, these questions should be directed to the State of Illinois or our sponsoring organizations.
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