The State of Illinois requires that appraisers must be properly licensed to perform real estate property appraisals within the state. According to the law (225 ICLS 458/5 5) (a) It is unlawful for a person to (i) act, offer services, or advertise services as a State certified general real estate appraiser, State certified residential real estate appraiser, or associate real estate apprasier trainee, (ii) develop a real estate appraisal, (iii)practice as a real estate appraiser, (iv) advertise or hold himself or herself out to be a real estate appraiser, or (v) or solicit clients to enter into an appraisal engagement with clients without a license issued under this Act. A person who violates this subsection is guilty of a Class A misdemeanor for the first offense and a Class 4 felony for any subsequent offense.
To appraise farm or commercial properties, the appraiser must be a Certified General Real Estate Appraiser and their license number should begin with "553".
To appraise residential properties, the appraiser must be a Certified Residential Real Estate Appraiser and their license should begin with "556".
REQUIREMENTS FOR A STATE CERIFIED GENERAL APPRAISER
The requirements to become an Illinois State Certified General Real Estate Appraiser:
300 QE Hours.
15-hour Nat’l USPAP or Equivalent.
Basic Appraisal Principles - 30 hours.
Basic Appraisal Procedures - 30 hours.
General Appraiser Market Analysis & Highest and Best Use - 30 hours.
General Appraiser Site Valuation and Cost Approach - 30 hours.
General Appraiser Sales Comparison Approach - 30 hours.
General Appraiser Report Writing and Case Studies - 30 hours.
Statistics, Modeling and Finance – 15 hours.
General Appraiser Income Approach – 60 hours.
Appraisal Subject Matter Electives – 30 hours.
Brett W. Berger, Inc. has Certified General Real Estate Appraisers and a full team of support professionals on staff.