Section 1455.10  Definitions

Unless otherwise clarified by this Part, definitions set forth in the Act also apply for the purposes of this Part.

"Act" means the Real Estate Appraiser Licensing Act of 2002 [225 ILCS 458].

"Applicant" means a person applying for licensure under this Act as a State Certified General Real Estate Appraiser, State Certified Residential Real Estate Appraiser, or Associate Real Estate Trainee Appraiser. Any applicant or any person who holds himself or herself out as an applicant is considered a licensee for purposes of enforcement, investigation, hearings, and the Illinois Administrative Procedure Act [5 ILCS 100].

"AQB" means the Appraiser Qualifications Board of the Appraisal Foundation.

"Asynchronous education" means a form of education, instruction, and learning where the instructor and student interaction is non-simultaneous; students progress at their own pace and follow a structured course content and quiz/exam schedule.

"Board" means the Real Estate Appraisal Administration and Disciplinary Board.

"Classroom hour" or " credit hour" as it pertains to the education requirements means 50 minutes of instruction out of each 60-minute segment of coursework.

"Client" means the party or parties who engage an appraiser by employment or contract in a specific appraisal assignment [225 ILCS 458/1-10], whether directly or through an agent.

"Continuing education" or "CE" means education that is creditable toward the education requirements that must be satisfied to renew licensure or certification, as set forth in Section 1455.160.

"Delivery mechanism approval" means the AQB's proprietary certification that validates the design and delivery of distance or asynchronous education courses.

"Department" means the Department of Financial and Professional Regulation.

"Director" means the Director of the Department of Financial and Professional Regulation-Division of Real Estate.

"Division" means the Department of Financial and Professional Regulation‑Division of Real Estate.

"Experience/work log" means the form described in Section 1455.190 that verifies an appraiser's experience and work history.

"Extraordinary assumption" means an assignment-specific assumption as of the effective date regarding uncertain information used in an analysis which, if found to be false, could alter the appraiser's opinion or conclusions.

"Hybrid education" means learning environments that allow for both in-person and online (synchronous or asynchronous) interaction.

"Hypothetical condition" means a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis.

"IDECC" means the International Distance Education Certification Center, which validates the design and delivery mechanism of distance or asynchronous education courses.

"Jurisdictional exception" means an assignment condition established by applicable law or regulation, which precludes an appraiser from complying with a part of USPAP.

"License" means the privilege conferred by the Department to a person that has fulfilled all requirements prerequisite to any type of licensure under this Act. [225 ILCS 458/1-10].

"Licensee" means any person licensed under this Act. [225 ILCS 458/1-10]

"Master agreement" means a written service agreement between a traditional client and a real estate appraiser, appraisal firm, appraisal management company or panel of approved appraisers.

"Non-traditional client" means the Division or an approved practicum course provider or an alternate experience provider.

"Practical Applications of Real Estate Appraisal" or "PAREA" means a program offered in accordance with the Real Property Appraiser Qualification Criteria approved by the AQB or federal law, that provides an alternate pathway to the traditional supervisor trainee experience model for applicants to obtain licensure.

"Practicum course instructor" means a Certified Residential Appraiser or a Certified General Appraiser with an active license and in good standing in all jurisdictions where licensed or credentialed and who is authorized to conduct an approved practicum course.

"Prerequisite education" means any education course that does not meet AQB requirements under qualifying education but is necessary prior to being issued an Illinois appraiser credential as an Associate Real Estate Trainee Appraiser.

"Qualifying education" means education that is creditable toward the requirements set forth in Section 1455.150.

"Quantitative experience" means actual time spent on the appraisal process.

"Real Property Appraiser Qualification Criteria" (effective June 1, 2022, no later amendments or editions), published by the Appraiser Qualifications Board of The Appraisal Foundation, 1155 15^th Street, NW, Suite 1111, Washington DC  20005.

"Renewal deadline" means September 30 of each odd-numbered year.

"Required core curriculum" means a set of appraisal subject matter major headings known as modules that requires a specified number of educational hours at each credential level. (See 225 ILCS 458/5-10(a)(5).)

"Residential" means real property composed of one-to-four residential units without non-residential use.

"Secretary" means the Secretary of the Department of Financial and Professional Regulation, or the Secretary's designee.

"Standard appraisal" means a standardized form or narrative appraisal report that addresses all three approaches to value and satisfies Standards 2 of USPAP.

"Synchronous education" means a form of education, instruction, and learning where the instructor and students interact simultaneously online, similar to a phone call, video chat, live webinar, or web-based meeting and the instruction and interaction is substantially the same as a classroom course.

"Traditional client" means a client who hires an appraiser to complete an assignment by employment or contract for business purposes.

"Traditional supervisory trainee experience" means appraisal experience obtained by a licensed trainee appraiser because of association or employment with a licensed supervising appraiser and not through an alternative program approved by the AQB such as PAREA or a practicum course.

"True copy" means a photocopy, or an electronic copy of the entire report transmitted to the client.

"USPAP" means the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board pursuant to Title XI of the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.) published by the Appraisal Standards Board of The Appraisal Foundation, 1325 G Street N.W., Suite 500, Washington DC 20005 (effective January 1, 2024, no later amendments or editions). [225 ILCS 458/1-10]

"Waiver valuation" means a specific valuation product utilized by the Illinois Department of Transportation, under Section 5-5(e-5) of the Act, to establish a basis for determining just compensation.

"Waiver valuator" means an employee of the Illinois Department of Transportation, a registered county or municipal engineer, or a municipal employee who is permitted to complete or co-sign a waiver valuation, not to exceed $20,000, prepared in accordance with the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (42 U.S.C. 4601‑4655) or prepared pursuant to the federal Uniform Relocation Assistance and Real Property Acquisition for Federal and Federally-Assisted Programs regulations (49 CFR 24).

"Workfile" means documentation necessary to support an appraiser's analyses, opinions and conclusions, including, but not limited to, the name of the client and the identity, by name or type, of any other intended users; true copies of any written reports or digital image files, documented on any type of media; summaries of any oral reports or testimony, or a transcript of testimony, including the appraiser's signed and dated certification; and all other data, information to show compliance with USPAP, or references to the locations of other documentation. A work-file in support of a Restricted Use or Restricted Appraisal Report must be sufficient for the appraiser to produce an Appraisal Report.

"Written Engagement" means a written document defining a real estate appraiser client, which states the terms, conditions and scope of the appraisal service request, including but not limited to compensation.

(Source:  Amended at 48 Ill. Reg. 14553, effective September 24, 2024)