Customary & Reasonable Fee Survey for Real Estate Appraisers Underway

Licensees encouraged to participate in IDFPR study

Illinois licensed real estate appraisers are encouraged to complete the Customary and Reasonable Fee Survey. The voluntary survey is being conducted by the University of Illinois at Urbana - Champaign on behalf of the Division of Real Estate (the “DRE“) at the Illinois Department of Financial and Professional Regulation ("IDFPR"). The survey was initially e-mailed to Illinois appraisers on January 10th and will be open for submissions through mid-February.

Kreg Allison, the Director of the DRE, said “the survey aims to estimate a customary and reasonable fee for appraisals of residential properties including single-family residential homes, residential condominium units, and two to four-unit multi-family apartment properties for each county in the State of Illinois."

To participate in the survey, individuals may click on the URL link below.