Section 1452.120  Assignment Guidelines and Policies; Engagement

a)         The registrant shall provide written assignment guidelines and conditions for each assignment. Those guidelines and conditions shall not deviate from USPAP and cannot be considered a jurisdictional exception without citation of the specific law or regulation.  These guidelines and conditions may be contained within a master agreement.

b)         The registrant shall provide the appraiser with an engagement document that contains, but is not limited to, the following:

1)         The registrant's Illinois registration number and expiration date;

2)         The location of the property or properties that are the subject of the assignment and if obtainable, a legal description or plat of survey;

3)         Property type (e.g., single-family residence, industrial condominium);

4)         The total completed assignment compensation;

5)         The turn time or date on which the completed assignment must be provided to registrant;

6)         The name and contact information for the registrant's representative;

7)         The name and contact information for any person whose assistance is required to gain access to the subject property (if applicable);

8)         A legible copy of a fully executed and complete sales contract, along with all pertinent addenda (if the transaction involves a sale);

9)         Registrant and/or client guidelines or changes in guidelines;

10)         Information as to whether the owner of the property under appraisement has been advised that interior images may be required under the assignment criteria;

11)         Identification of the client in any assignment or service request.

c)         A registrant that is not owned and controlled by an insured depository institution and not regulated by a federal financial institution's regulatory agency shall establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience necessary to competently complete the appraisal assignment for the particular market and property type. 

d)         Appraisers hired by registrants must hold an appropriate Illinois appraisal license to develop and communicate any review that is not limited to a quality control review.

e)         The registrant shall notify the appraiser, in writing, no later than 30 calendar days prior to removing the appraiser from the list of approved appraisers.  The notice shall include any and all causes leading to the removal.

f)         The registrant shall notify the Department within 30 calendar days after appraiser removals based upon a reasonable belief that the appraiser prepared an appraisal report in violation of the Real Estate Appraiser Licensing Act of 2002 [225 ILCS 458], 68 Ill. Adm. Code 1455, or USPAP.

(Source:  Amended at 50 Ill. Reg. 686, effective January 5, 2026)