Ill. Admin. Code tit. 68, § 1455.190 - Verification of Experience Credit

a) Traditional Experience Credit

1) All applicants submitting traditional supervisory trainee experience shall verify experience credit in a manner prescribed by the Division. This shall include information on the type of property, date of report, address of appraised property, description of work performed by the Associate Real Estate Trainee Appraiser, scope of the review and supervision of the Supervising Appraiser, and number of actual work hours by the Associate Real Estate Trainee Appraiser on the assignment.

2) The Division may audit such verification and, if requested, the applicant must provide experience documentation in the form of reports or workfile memoranda and must support the experience claimed.

3) The Division, at its discretion, will determine the validity of all appraisal experience credit in conformity with criteria recommended by the AQB. All experience must be USPAP compliant. An applicant's experience must be in appraisal work conforming to USPAP Standards 1, 2, 3, 4, 5 and/or 6 in which the appraiser demonstrates proficiency in appraisal principles, methodology, procedures (development), and reporting conclusions.

4) For applicants intending to upgrade to a State Certified Residential Real Estate Appraiser License:

A) Appraisal assignments submitted shall be a variety of standard appraisals. Demonstration appraisals may also be included but not constitute the majority of the assignments. 50% of the appraisals or more submitted for experience shall be standard appraisals.

B) Appraisal assignments submitted shall be of a variety of property types and include vacant land, residential of one-to-four units, and non-residential properties. 50% of the appraisals or more submitted for experience shall be of residential properties.

C) Appraisal assignments submitted shall demonstrate a variety of approaches in conformity with USPAP, including the sales comparison approach, income approach, and cost approach. Each approach to value shall be appropriate to the property type and based on the intended use of the assignment.

D) No less than 50% of the total experience submitted shall contain signed certifications by the applicant.

E) All experience logs must contain original or electronic signatures.

5) For applicants intending to upgrade to a State Certified General Real Estate Appraiser License:

A) Appraisal assignments submitted shall be a variety of standard appraisals and review appraisals. Demonstration appraisals may also be included but not constitute the majority of the assignments. 50% of the appraisals or more submitted for experience shall be standard appraisals.

B) Appraisal assignments submitted shall demonstrate a variety of property types and include vacant land, residential of one-to-four units, and non-residential properties. 50% of the appraisals or more submitted for experience shall be for non-residential properties.

C) Appraisal assignments submitted shall have a variety of approaches in conformity with USPAP, including the sales comparison approach, income approach, and cost approach. Each approach to value shall be appropriate to the property type and based on the intended use of the assignment.

D) No less than 50% of the total experience submitted shall contain signed certifications by the applicant.

E) All experience logs must contain original or electronic signatures.

b) Alternative experience programs approved by the AQB, such as PAREA or practicum courses, may serve as a substitute to the traditional supervisor trainee experience requirements as prescribed in this Part. An applicant who chooses to gain credit through alternative experience must comply with all the AQB requirements of that particular program and provide proof compliance and successful completion as required by Section 1455.200 and this Subpart.

Notes

Ill. Admin. Code tit. 68, § 1455.190

Amended at 37 Ill. Reg. 2668, effective April 1, 2013

Amended at 39 Ill. Reg. 7939, effective 6/1/2015 Amended at 42 Ill. Reg. 6386, effective 3/23/2018 Amended at 42 Ill. Reg. 21599, effective 11/26/2018 Amended at 48 Ill. Reg. 14553, effective 9/24/2024