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Illinois Coalition of Appraisal Professionals

Legislative Updates/News

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Legislative Updates

+ 06-25-2018 - Results of Customary and Reasonable Appraisal Fee Survey Are Now Available

Findings from Illinois’ Customary and Reasonable Fee Survey are now available, according to the Illinois Department of Financial and Professional Regulation (IDFPR). The voluntary survey of Illinois licensed real estate appraisers began in January with assistance from the Office of Real Estate Research at the University of Illinois at Urbana-Champaign.

The objective of the report, as outlined by federal regulation, is to determine recent fees paid for comparable appraisal services in each market area in Illinois. The report excludes appraisals ordered by Appraisal Management Companies to establish evidence for a specific baseline of customary and reasonable fees.

“IDFPR values quantitative data and appreciates the academic report’s findings. This data will not be used to establish price ceilings or floors for real estate appraisal services in Illinois,” said Division of Real Estate Director Kreg Allison.

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+ 06-24-2018 - ISBA Wins Summary Judgment in Lawsuit against IDFPR

The Cook County Circuit Court issued an order finding that the Illinois Department of Financial and Professional Regulation (IDFPR) cannot prosecute Illinois property tax attorneys on charges they offered appraisal services without a proper state license when they argue valuations before tax assessment appeal tribunals.

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+ 06-24-2018 - The Appraisal Foundation Advisory Council (TAFAC) Meeting Minutes

ICAP along with about 60 other non-profit organizationsare member organizations of The Appraisal Foundation Advisory Council (TAFAC).  At TAFAC's June 7th, 2018 meeting in Washington DC. the minutes from the February 2nd, 2018 meeting were approved.

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+ 06-24-2018 - Presentation From Fannie Mae

Read a presentation from Fannie Mae who accepts certain loans without a traditional appraisal, instead relying on automated valuation models or other valuation tools.

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+ 06-24-2018 - Presentation From LIA Administrators & Insurance Services

Read a presentation from LIA Administrators & Insurance Services which focuses on the impact of hybrid appraisal assignments.

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+ 06-05-2018 - Condo Deconversions: Proceed With Caution

A letter from the Franklin Law Group aims to reduce the probability of potential liability or license complaints, when developers and investors are looking to deconvert condominium projects into rental apartments.

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+ 05-22-2018 - ICAP Signed A Letter To The Chairman of the Appraisal Subcommittee

The letter states that if there was one clear takeaway from the comments received by the ASC during the TriStar Bank appraiser waiver process, it is that numerous appraisers were ready and willing to provide TriStar with the appraisal services they experienced difficulty obtaining on their own.  Additionally the letter states that these organizations can work within their respective states to inform appraisers of the need of the financial institutions and encourage qualified individuals to reach out and offer their services. 

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ICAP Information

+Frequently Asked Questions

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

+ 2018 PAC Contribution Form

+ 2018 Membership Application & Renewal

+ About/Board of Directors/Bylaws

+ ICAP Calendar

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.

+ President Messages

+ My Account

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Membership Benefits

Representation

Representation in Springfield, IL

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.

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ICAP-PAC

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

Join

Strength in Numbers

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.

Members

Constant Contact

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.

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Job Search

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.

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Online appraiser tools

ICAP Members can access hundreds of relevant appraisal related links at our website www.icapweb.org. Including our Appraisal Laws and Rules.

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ICAP Summer Seminars - Education/Networking

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.

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Discounts

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.

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Find an Appraiser

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.

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Opportunities to Lead

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.

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Phone: 312-616-9400      Fax: 312-616-9404      Address: 205 W. Wacker Drive Suite 202, Chicago, IL 60606

Register for ICAP's Lobby Day May 9, 2018

Now is the time for action!

As an ICAP member you represent the Illinois real estate profession. Make your concerns known to legislators.

Reasons to attend:

  • Get a private legislative briefing on issues that affect Illinois appraisers. Learn what critical issues are in play and where Illinois Appraisers stand on them and why.
  • Talk with fellow Appraisers about issues at the state and local level.
  • Visit the Capitol and make personal contact with legislators.

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