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Stay current on industry issues with daily news from Illinois REALTORS®, network with other professionals, attend a seminar, and keep up with industry trends through events throughout the year.
The resources on this page will help you and your clients better understand the appraisal process, head off problems before they start, or navigate serious issues if they arise.
Appraisal FAQs for Illinois REALTORS®
What every REALTOR® should know about the appraisal process in four sections: Appraisals 101, Best Practices, Appraisal Accuracy and Major Problems.
Sample Appraiser’s Package
REALTORS® can communicate with the appraiser prior to and during the appraisal. This sample document provides an example of the type of information most appraisers will find useful.
From the Appraisal FAQs
Q: If I have evidence of negligence or discrimination, who should I contact?
A: Report it to the lender in writing. In addition, the Appraisal Subcommittee, which is a Unites States Federal Government Agency, operates the Appraisal Complaint National Hotline (www.refermyappraisalcomplaint.asc.gov) which can refer the matter to appropriate federal or state authorities to complete an investigation. In Illinois, the Illinois Department of Financial and Professional Regulation (idfpr.illinois.gov) is the regulatory agency for appraisers. Fair Housing violations can be reported to the United States Department of Housing and Urban Development (www.HUD.gov). In Illinois, suspected discrimination can be reported to the Illinois Human Rights Commission (312-814-6269).
Appraisal Blog Posts
Video: What if my appraiser is not familiar with the area?
In this clip from CE Course APP 504, instructors Norm Willoughby and Paul Brown discuss what a listing agent can do if an appraiser is not familiar with the market area of the subject property.
Full Course Available: 3-hour CE: App 504 – Understanding Real Estate Appraisal
“Ask the Appraiser”
In this recorded webinar, NAR’s Real Property Valuation Forum presents a live forum featuring a panel of residential, commercial and review appraisers. View Now.
Have An Appraisal Discrimination Story? We Want To Hear It.
Chicago Association of REALTORS(R) is gathering appraisal discrimination stories to begin to assess how best to drive attention to the issue. Click Here To Share Your Story.
Appraisals In The News
Low home appraisal? What to do if you suspect discrimination
Rising prices make it harder to estimate what a house is really worth
Racial Inequality In How Chicago-Area Homes Are Valued Is Increasing
Black Homeowners Face Discrimination in Appraisals
Black homeowner, 2 appraisals, $62,000 difference
Florida couple sees home appraisal jump 40% after they remove all traces of ‘Blackness’
Black homeowner had a white friend stand in for third appraisal. Her home value doubled.
