Are you interested in serving your profession as an appointee to the Illinois Real Estate Appraisal Administration and Disciplinary Board?
Are you interested in ICAPs recommendation to the Governor and/or Department to appoint you to the Illinois Real Estate Appraisal Administration and Disciplinary Board?
If “yes” is the answer to the above questions complete ICAP Recommendation Questionnaire for consideration.
Applications will only be considered for candidates who meet the following criteria as established by statute:
General Information
The Illinois Real Estate Appraisal Administration and Disciplinary Board currently consists of ten [10] persons appointed by the Governor, plus the Coordinator. The Governor shall give due consideration to recommendations by members and organizations representing the profession.
The Illinois Real Estate Appraisal Administration and Disciplinary Board consists of:
- Four [4] currently licensed Illinois Certified General appraisers actively engaged and currently licensed for a period of not less than five [5] years.
- Two [2] currently licensed Illinois Certified Residential appraisers actively engaged and currently licensed for a period of not less than five [5] years.
- Two [2] currently licensed Real Estate Brokers; licensed for a period of at least ten [10] years.
- One [1] licensed Real Estate Broker shall also hold a valid Illinois Certified General license for a period of at least five [5] years.
- One [1] licensed Real Estate Broker shall also hold a valid Illinois Certified Residential license for a period of at least five [5] years.
- One [1] financial institution representative evidenced by their employment with a financial institution.
- One [1] shall represent the general public interests and cannot, or can their spouse, be employed by or have any interest in an appraisal business, appraisal management company, real estate brokerage business or financial institution.
Additional Appointment Conditions
- Appointees shall be residents and citizens of Illinois for at least five [5] years prior to appointment date.
- Board appointed membership should reasonably reflect geographic distribution of Illinois population.
- Board Appointment Term is four [4] years and shall serve until their successor is appointed and qualified
Additional information can be found under the Real Estate Appraiser Licensing Act of 2002 [225 ILCS 458/25-10.
In Illinois, the real estate license law is administered by the?
A] Department of realtors
B] IDFPR Bureau of real estate professionals
C] Illinois Association of realtors
D] Department of housing and urban development
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Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes [ILCS] is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.
Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS
[225 ILCS 454/] Real Estate License Act of 2000.
225 ILCS 454/Art. 25
[225 ILCS 454/Art. 25 heading]
ARTICLE 25.
ADMINISTRATION OF LICENSES
225 ILCS 454/25-5
[225 ILCS 454/25-5]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-5.
The Department; powers and duties.
The Department shall exercise the powers and duties prescribed by the Civil
Administrative Code of Illinois
for the administration of licensing acts and shall exercise such other powers
and duties as are
prescribed by this Act. The Department may contract with third parties for services or the development of courses
necessary for the proper
administration of this Act.
[Source: P.A. 96-856, eff. 12-31-09
.]
225 ILCS 454/25-10
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225 ILCS 454/25-13
[225 ILCS 454/25-13]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-13.
Rules.
The Department, after notifying and considering the recommendations of the Board, if any,
shall adopt,
promulgate, and issue any rules that may be necessary for the implementation
and enforcement of
this Act.
[Source: P.A. 96-856, eff. 12-31-09
.]
225 ILCS 454/25-14
[225 ILCS 454/25-14]
Sec. 25-14.
[Repealed].
[Source: P.A. 96-856, eff. 12-31-09. Repealed by P.A. 101-357, eff. 8-9-19.]
225 ILCS 454/25-15
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225 ILCS 454/25-20
[225 ILCS 454/25-20]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-20.
Staff.
The Department shall employ a minimum of one investigator per 10,000 licensees and one prosecutor per 20,000 licensees in order to have sufficient staff to perform the Department's obligations under the Act.
[Source: P.A. 96-856, eff. 12-31-09
.]
225 ILCS 454/25-21
[225 ILCS 454/25-21]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-21.
Peer review advisors.
The Department may contract with licensees meeting qualifications prescribed by the Department to serve as peer review advisors for complaints and alleged violations of the Act. A peer review advisor is authorized to investigate and determine the facts of a complaint. The peer review advisor shall, at the direction of the Department, interview witnesses, the complainant and any licensees involved in the alleged matter and make a recommendation as to the findings of fact to the Department. The Department shall have 30 days from receipt of the recommendation to accept, reject or modify the recommended findings of fact. Peer review advisors shall be compensated from the Real Estate Audit Fund at a rate of not to exceed $15,000.00 per advisor annually. A peer review advisor shall not investigate a complaint from a marketplace in which the peer review advisor does business.
[Source: P.A. 101-357, eff. 8-9-19.]
225 ILCS 454/25-25
[225 ILCS 454/25-25]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-25.
Real Estate Research and Education Fund.
A special fund to be known as the Real Estate Research and Education Fund is
created and shall be
held in trust in the State Treasury. Annually, on September 15th, the State
Treasurer shall cause a
transfer of $125,000 to the Real Estate Research and Education Fund from the
Real Estate License
Administration Fund. The Real Estate Research and Education Fund shall be
administered by
the Department. Money deposited in the Real Estate Research and Education Fund may be
used for research and for
education at state
institutions of higher education or other organizations for research and for education to further the
advancement of
education in the real estate industry.
Of the $125,000 annually transferred into the Real Estate Research and
Education Fund, $15,000
shall be used to fund a scholarship program for persons of minority racial
origin who wish to
pursue a course of study in the field of real estate. For the purposes of this
Section, "course of
study" means a course or courses that are part of a program of courses in the
field of real estate
designed to further an individual's knowledge or expertise in the field of real
estate. These courses
shall include without limitation courses that a broker licensed under this Act must complete to qualify for a managing broker's license, courses required to
obtain the Graduate
Realtors Institute designation, and any other courses or programs offered by
accredited colleges,
universities, or other institutions of higher education in Illinois. The
scholarship program shall be
administered by the Department or its designee.
Moneys in the Real Estate Research and Education Fund may be invested and
reinvested in the
same manner as funds in the Real Estate Recovery Fund and all earnings,
interest, and dividends
received from such investments shall be deposited in the Real Estate Research
and Education Fund
and may be used for the same purposes as moneys transferred to the Real Estate
Research and Education Fund. Moneys in the Real Estate Research and Education Fund may be transferred to the Professions Indirect Cost Fund as authorized under Section 2105-300 of the Department of Professional Regulation Law of the Civil Administrative Code of Illinois.
[Source: P.A. 101-357, eff. 8-9-19.]
225 ILCS 454/25-30
[225 ILCS 454/25-30]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-30.
Real Estate License Administration Fund; audit.
A special fund to be known as the Real Estate License Administration Fund is
created in the State
Treasury. All fees received by the Department under this Act shall be deposited in
the Real Estate License Administration Fund. The
moneys
deposited in the Real Estate License Administration Fund shall be appropriated
to the Department for
expenses of the Department and the Board in the administration of this Act and for the
administration of any
Act administered by the Department providing revenue to this Fund.
Moneys in the Real Estate License Administration Fund may be invested and
reinvested in the
same manner as funds in the Real Estate Recovery Fund. All earnings received
from such
investment shall be deposited in the Real Estate License Administration Fund
and may be used for
the same purposes as fees deposited in the Real Estate License Administration
Fund.
Moneys in the Real Estate License Administration Fund may be transferred to the Professions Indirect Cost Fund as authorized under Section 2105-300 of the Department of Professional Regulation Law of the Civil Administrative Code of Illinois. Upon the completion of any audit of the Department, as prescribed by the Illinois State
Auditing Act, which
includes an audit of the Real Estate License Administration Fund, the Department shall
make the audit open
to inspection by any interested person.
[Source: P.A. 96-856, eff. 12-31-09
.]
225 ILCS 454/25-35
[225 ILCS 454/25-35]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-35.
Real Estate Recovery Fund.
A special fund to be known as the Real Estate Recovery Fund is created in
the
State Treasury. All fines and penalties received by the Department pursuant to Article 20 of this Act
shall be deposited into the State Treasury and held in the Real
Estate Recovery Fund. The money in the Real Estate Recovery Fund shall be used
by
the Department exclusively for
carrying out the
purposes established by this Act. If, at any time, the balance remaining in
the Real Estate Recovery Fund is less than
$750,000, the State Treasurer shall cause a transfer of moneys to the Real
Estate Recovery Fund
from the Real Estate License Administration Fund in an amount necessary to
establish a balance of
$800,000 in the Real Estate Recovery Fund. These funds may be invested and
reinvested in
the same manner
as authorized for pension funds in Article 1 of the Illinois Pension Code.
All
earnings, interest, and
dividends received from investment of funds in the Real Estate Recovery Fund
shall be deposited
into the Real Estate License Administration Fund and shall be used for the same
purposes as other
moneys deposited in the Real Estate License Administration Fund.
[Source: P.A. 96-856, eff. 12-31-09
.]
225 ILCS 454/25-37
[225 ILCS 454/25-37]
Sec. 25-37.
[Repealed].
[Source: P.A. 96-856, eff. 12-31-09. Repealed by P.A. 101-357, eff. 8-9-19.]
225 ILCS 454/25-38
[225 ILCS 454/25-38]
[Section scheduled to be repealed on October 1, 2023]
Sec. 25-38.
Real Estate Audit Fund.
Notwithstanding any other provision of law, in addition to any other transfers that may be provided by law, on July 1, 2023, or as soon thereafter as practical, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the Real Estate Audit Fund into the Real Estate License Administration Fund. Upon completion of the transfer, the Real Estate Audit Fund is dissolved, and any future deposits due to that Fund and any outstanding obligations or liabilities of that Fund pass to the Real Estate License Administration Fund. This Section is repealed on October 1, 2023.
[Source: P.A. 102-970, eff. 5-27-22.]
225 ILCS 454/25-40
[225 ILCS 454/25-40]
[Section scheduled to be repealed on January 1, 2030]
Sec. 25-40.
Exclusive State powers and functions; municipal powers.
It is declared to be the public policy of this State, pursuant to paragraphs
[h] and [i] of Section 6 of
Article VII of the Illinois Constitution of 1970, that any power or function
set forth in this Act to be
exercised by the State is an exclusive State power or function. Such power or
function shall not be
exercised concurrently, either directly or indirectly, by any unit of local
government, including
home rule units, except as otherwise provided in this Act.
Nothing in this Section shall be construed to affect or impair the validity of
Section 11-11.1-1 of the
Illinois Municipal Code, as amended, or to deny to the corporate authorities of
any municipality the
powers granted in the Illinois Municipal Code to enact ordinances prescribing
fair housing
practices; defining unfair
housing practices; establishing Fair Housing or Human Relations Commissions and
standards for
the operation of these commissions in the administration and enforcement of
such
ordinances;
prohibiting discrimination based on race, color, creed, ancestry, national
origin or physical or
mental disability in the listing, sale, assignment, exchange, transfer, lease,
rental, or financing of real
property for the purpose of the residential occupancy thereof; and prescribing
penalties for
violations of such ordinances.
[Source: P.A. 99-143, eff. 7-27-15
.]