The Illinois Office of Banks and Real Estate have identified three levels of real property appraisal classification:
Associate Real Estate Appraiser (157)
Certified Residential Appraiser (156)
Certified General Appraiser (153)
Please Note: New rules from the Illinois Dept. of Financial and Professional Regulation, Division of Professional Regulation do not allow Associate Appraiser Licensing courses to be administered online by any school. This includes the 15-hr USPAP course. Please contact the Illinois Division of Professional Regulation with questions concerning this policy.
Current Illinois Appraiser License Requirements
The Illinois Office of Banks and Real Estate has established the minimum educational requirements for an appraisal license. The minimum educational requirements include the following:
Associate Real Estate Appraiser (157)
Courses in the following topics are required to take the Associate Real Estate Appraiser examination:
At least 75 hours of appraisal education and training, including 15 hours of ethics and standards of practice, and passing the Level A licensing examination.
No appraisal experience is required.
College-level requirements: None
Certified Residential Appraiser (156)
Courses in the following topics are required to take the Certified Residential Appraiser examination:
At least 200 hours of appraisal education and training, including 15 hours of ethics and standards of practice; 2,500 hours (including 1,500 hours non-residential) of appraisal experience across at least 30 months; and passing the Level B licensing examination.
Twenty-five hundred hours of appraisal experience during no fewer than 24 months
College-level requirements: Associate degree or higher. In lieu of the required degree, 21 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law.
(If an applicant is upgrading from a 154 or 157 license, they only need to submit proof of curriculums 4 and 5 above.)
Certified General Appraiser (153)
Courses in the following topics are required to take the Certified General Appraiser examination:
At least 300 hours of appraisal education and training, including 15 hours of ethics and standards of practice; 3,000 hours (including 1,500 hours non-residential) of appraisal experience across at least 30 months; and passing the Level C certification examination.
Three thousand hours of appraisal experience during no fewer than 30 months, of which 1,500 hours shall be in non-residential appraisal work
College-level requirements: Bachelors degree or higher. In lieu of the required degree, 31 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law; and 2 elective courses in accounting, geography, ag-economics, business management, or real estate.
(If an applicant is upgrading from a 157 license, they only need to submit proof of curriculums 4 through 9 above. If an applicant is upgrading from a 156 license, they only need to submit proof of curriculums 6 through 9 above.)
IMPORTANT: For detailed information on understanding the 2008 Real Property Appraiser Qualification Criteria, please follow this link to the Appraisal Foundation.
UPCOMING CHANGES TO REAL PROPERTY APPRAISER QUALIFICATIONS
Beginning January 1, 2015, the AQB has made significant changes to appraisal qualifications. It is possible that some states may choose to implement the changes sooner, so be sure to check with your state regulator.
IMPORTANT CHANGE: Increased College Degree Requirements
Implications: After 1/1/15, you must hold a bachelor's degree to obtain the Certified Residential license level or beyond. If you achieve this license level prior to 1/1/15, you will be grandfathered under the old regulations.
CLASSIFICATION
CURRENT REQUIREMENTS
January 1, 2015 REQUIREMENTS
Trainee Appraiser
None
None
Licensed Residential Appraiser
None
30 semester credit hours of collegelevel education from an accredited college, junior college, community college, or university OR an Associate’s degree or higher (in any field).
Certified Residential Appraiser
21 semester credit hours in specified collegiate subject matter courses from an accredited college or university OR an Associate’s degree or higher.
Bachelor’s degree or higher (in any field) from an accredited college or university.
Certified General Appraiser
30 semester credit hours in specific collegiate subject matter courses from an accredited college or university OR a Bachelor’s degree or higher.
Bachelor’s degree or higher (in any field) from an accredited college or university.
IMPORTANT CHANGE: Experience Hours are Required BEFORE taking the licensing exam.
Implications: For the Licensed, Certified Residential and Certified General license levels, the required experience must be completed prior to taking the licensing exam. If you intend to upgrade your license prior to the 1/1/15 rules change, you need to be sure that you have enough time to complete your experience hours.
State Regulatory Agency
Illinois Division of Professional Regulation
Mr. Brian Weaver: Appraisal Coordinator
310 South Michigan Avenue, Suite 2130
Chicago, IL 60604-4278
(312) 814-4500 Click for State Website
