Rep. Tony McCombie traveled to Chicago to speak with the Illinois Coalition of Appraisal Professionals (ICAP) on October 11. McCombie explained her background, how she worked to become a legislator and discussed the bill she sponsored (House Bill 5502) to decrease regulation to help grow the industry.
The Illinois Coalition of Appraisal Professionals suggested this legislation as a way to allow individuals to sit for the examination while they are still attending classroom instruction. Further, there are some associate real estate trainee appraisers who do not wish to advance to become real estate appraisers, but they are currently capped at four years.
The work of these individuals typically includes conducting research on properties, dealing with customers, and writing appraisal reports, but some do not want to perform the actual appraisals. By reducing a barrier to entry and increasing labor market liquidity within the industry, Rep. McCombie believes the industry can be rebuilt in Illinois.
HB 5502 was signed into law as Public Act 100-832 on August 13, 2018.
Rep. McCombie appreciated the opportunity to address the industry professionals and share her insights on the legislative process.