Licensed Trainees adding your voice to ICAP has never been easier or more affordable. Join Your Colleagues today and Save 50% off your 2015 dues. You owe it to yourself and your colleagues to make this small investment in the future of your chosen profession. Simply visit www.icapweb.org Code Word: TRAINEE

1. Pursuing a career as a professional appraiser
requires a commitment to excellence and the
integrity necessary to maintain the highest
standards of professional ethics. Developing
appraisal knowledge and expertise requires
countless hours of education and experience.
It is a lifelong discipline.
As a professional appraiser, it’s important to
make every effort to promote and advance
your chosen profession. Joining the Illinois
Coalition of Appraisal Professionals (ICAP),
provides a direct link to other appraisal
professionals who desire to uphold the
professional standards and actively influence
legislation, regulation and public opinion
impacting the appraisal profession.
Are You Helping
to Advance Your Profession?
www.icapweb.org
ICAP: Illinois Coalition of Appraisal Professionals
205 W. Wacker Drive, Suite 202, Chicago, IL 60606
Phone: 312.616.9403 Fax: 312.616.9404
www.icapweb.org
Licensed Trainees Join
Your Colleagues
Today and Save 50%
Adding your voice to ICAP has never
been easier or more affordable.
Whether you’re a new appraiser
trainee or have decades of experience, you owe it to yourself
and your colleagues to make this small investment in the future of your
chosen profession.
Join Today
Simply visit www.icapweb.org

2. What is ICAP?
ICAP was established in 1994 out of a need for a unified voice loud
enough to be heard in Springfield. Since then, ICAP has been
promoting the appraisal profession and its image to the general
public and to users of appraisal services. Representing real estate
appraisers in Illinois, ICAP is a political action group sponsored by:
• American Society of Appraisers
• American Society of Farm Managers and Rural Appraisers
• Appraisal Institute
• National Association of Independent Fee Appraisers
• At-Large Appraisers
ICAP’s mission is to initiate discussion and analysis of issues affecting
professional appraisers and monitor political action with the intent to
influence legislation, regulation, and public opinion toward the appraisal profession.
ICAP’s Objectives are to:
• Establish the Illinois Appraisal Profession as an identified
collective voice in legislation and regulatory debate.
• Represent the profession consensus to the Illinois Legislature and the Illinois Division of Real Estate.
• Provide a legislative regulatory liaison to associated
professions and industries.
• Provide ongoing, real-time information to appraisal professionals concerning legislation and regulatory events.
• Create and maintain a forum for professional information and education sharing amongst our members and
sponsoring organizations.
• Create and maintain a method of funding through
membership and information events to make the coalition self-sufficient.
Protecting all appraisal professionals and their interests is our sole
focus. We don’t offer appraisal courses or professional designations.
We also won’t sell your software, data or publications.
Legislative Accomplishments
Appraiser Licensing Act
• Appraisal fees for AMC assignments must be disclosed in the certification
• Defined AMCs and Appraisal firms
• USPAP must be taken within 6 months of a new release
• Criminal background check required
• Removed “in connection with a federally regulated transaction”
• Removed the limit of supervisors a trainee can work for
• Municipal & IDOT employees performing waiver valuations must complete real estate appraisal coursework
Appraisal Management Company Act
• All AMCs must register
• Appraisal firms 100% owned by a certified appraiser are exempt from registration
• AMCs must be noted as client if ordering the appraisal
• AMCs must compensate appraisers at a customary and reasonable rate
• AMCs cannot withhold or threaten to withhold payment
• Cannot condition appraisal on a value conclusion
• No predetermined values
• Cannot remove appraisers from approved lists without notice
• Cannot require appraisers to sign indemnification agreements
BPO’s and CMA’s
• Established definitions for BPO’s and CMA’s
• Set standards by which BPO's and CMA's must be developed.
• BPO's cannot estimate Market Value
• Must include a statement “this is not an appraisal of the market value of
the real estate”
Licensed Trainees Join Your Colleagues
Today and Save 50%
Adding your voice to ICAP has never
been easier or more affordable. Whether
you’re a new appraiser trainee or have
decades of experience, you owe it to
yourself and your colleagues to make
this small investment in the future of
your chosen profession.
Simply visit www.icapweb.org
Code Word: TRAINEE
“My ICAP Membership provides me with the latest
information on legislative and industry news, as well
as opportunities to interact with my professional
colleagues. In today’s highly regulated environment
I find these benefits more important than ever for
maintaining a professional appraisal business.”
— Karen T. Emerle, SRA"