President's Message

06/26/25

To all the members of the Chicago Chapter of the Appraisal Institute and readers of this newsletter, I greet you in the warmest way saying, Hello and I hope you and yours are doing well.

We are now approaching the mid-year mark of 2025. A lot has happened since the beginning of January 2025.

In January 2025, we installed the current leaders of the Chicago Chapter of the Appraisal Institute at Pazzo's in Chicago on a surprisingly warm winter evening. It was a great event, where, we recognized many men and women who has over the prior year served the Chicago Chapter very well and honored some with a long history of service to the Chicago Chapter. I had the great honor of recognizing LA Anderson, who has served the Chicago Chapter as the Executive Director for about three decades. The love and admiration she received was so heartfelt from her expression.

A lot of work has taken place to improve the Chicago Chapter. The Chapter's website has been modernized and made current through the leadership of Andrew Richter. Andrew received the assignment with great enthusiasm and poured a lot of time into the revitalization of the website. Please go to the Chicago Chapter website at www.ccai.org to stay up to date on Education offerings, special events, job posting and much more.

In Education delivery, we launched Synchronous with the help of John H. Urubek, Richard De Verdier and Susan Z. Ulman. The program was rolled out as part of the Condition of the Chicago Real Estate Market seminar. Many people registered in-person and on-line. We hope to continue this way of delivering education and special events because many may not be able to make the events in-person. To those who are able to be in-person, we hope you take advantage of the opportunity to network with other attendees and share in the body of knowledge we possess individually and collectively.

We continue to work to improve the structure of the Chicago Chapter. We voted not to raise Chapter dues and will continue to work to make the cost of membership reasonable. With the broad shoulders of the Chicago Chapter, we are able to support other Chapters within the Appraisal Institute in their organizational needs. To make this happen in a mutually beneficial way between the Chicago Chapter and those we elect to support, we must build an infrastructure within the Chicago Chapter that will sustain our present and not adversely impact our Mission and Goals, for that cause, we are working to improve the Chapter's Bylaws and to always be clear-eyed and transparent on the financial status of the Chapter.

We had successful events thus far. In March, we had a luncheon with the Cook County Assessor Fritz Kaegi, Cook County Chief Valuation Officer Michael Piper and many officers of the Cook County Assessor's Office to hear the office policies and procedures changes and improvements. We had candid, interactive discussions on the tax appeal process for a benefit to all in attendance. This luncheon had the highest number of registrants in over the past 7 years.

In April, we had the 2025 Real Estate Appraiser Networking & Career Development Event, where, Chicago Chapter scholarship recipients, entry level appraiser, ADI participants, and designation advisors and candidates met at Top Golf in Naperville, Illinois, for food, fun and fellowship. This event was one part of a three-part series of events to help people aspiring to be an appraiser, trainees and new appraiser to learn and grow as an appraiser. This three- part event is very important to the Chicago Chapter because it helps to sustain the growth of the Chicago Chapter. I want to thank Richard De Verdier for his hard work in creating the event, event planning, organizing the stakeholders, sourcing sponsors and giveaways and support to all. Continue to check your email for the next event coming up August 21, 2025, at Putshack in Oak Brook.

The Conditions of the Chicago Real Estate Market was a successful seminar, where, we heard from expert of the various sectors of the Chicago Real Estate market. As mentioned earlier, this event helped launch Synchronous, an added Education option, at the Chicago Chapter. I want to thank Susan Z. Ulman and her team for the time and hard work.

As of the date of this newsletter, we had the Chicago Chapter Golf Outing at Silver Lake Country Club in Orland Park. It was a great event, full of laughter among all present, networking, food, drinks and fun. The day was hot and no rain, YAY! After a few golf swings at the driving range, everyone loaded their golf carts for a "Grand Prix" like takeoff of the carts to start golfing. We all had fun on the course with food and drinks. After golfing, we met up in the clubhouse for more drinks and networking before dinner. An impressive dinner was laid out, where we ate, and afterwards prizes were passed out. It was a great and wonderful experience. I want to thank Daniel R. Berenschot and his team for all their time and hard work.

I want to thank the Northern IL Branch Chapter Chairperson Courtney R. Prentice for the great work he and his officers are doing in the Rockford, Illinois, area. The Northern IL Branch is a vital present in the northern Illinois region for the Chicago Chapter. They carry the strength of the Chicago Chapter throughout the larger region including parts of Wisconsin and Iowa.

I want to remind everyone; we are in a license renewal year. The 7-hour USPAP course is mandatory. Also, a 1-hour Sexual Harassment Prevention Training (SHPT) is mandatory, but it will not count towards the 28 hours of the CE requirement.

The Chicago Chapter and ICAP (Illinois Coalition of Appraisal Professionals) are collaborating to clarify and address the data collection process within the Scope of the Appraisal License Act. This initiative is being pursued through legislative changes to the Illinois Real Estate Appraiser Licensing Act. Currently, the Home Inspectors Act governs the examination and evaluation of any more than 2 major components in a residential property when preparing a home inspection report. I believe data collectors are looking at more than two major components of a residential property, and they are not licensed. This information is defined in the IL Home Inspectors Act, and for this cause the IL Home Inspection Act requires licensing. The next step in this process will be a meeting arranged by the lobbyist with all interested parties to discuss how this activity should be regulated moving forward. I want to thank Jim Blaydes for his work on keeping appraisers aware of the legislative issues that affect appraisers. We need to take time to fully understand and to be up-to-speed on this matter very well because it affects appraisers.

I want to encourage all who work in the residential market to look into the new URAR appraisal form. The new form is coming with challenges in regards to reporting. The challenges may be short-lived once you gain clarity. Some agencies and lenders may be requiring you to use the new form. On June 27, 2025, at the DePaul Center in Chicago, an Appraiser's Guide to the New URAR course is being offered. Please check the Chicago Chapter's website for more information.

As President of the Chicago Chapter, I have and will continue to work in the best interest of the Chicago Chapter. I have said, we, the Officers of the Chicago Chapter of the Appraisal Institute are stewards of this Chapter. Caring for this organization as if it is a new born baby should be our focus. Ensuring it has what it needs to grow strong and to continue to be strong. We, the Officers, are not first. The Chicago Chapter is first.

I am calling on all members to support the Chicago Chapter in whatever capacity you have available. This organization, the Appraisal Institute, is a Member-Led organization. When we all step up in support, then, there is less work individually.

The Chicago Chapter will continue to be a place where appraisers will find education, advocacy, networking and fun. Your membership entitles you to have a voice on those matters effecting you as an appraiser. So, I encourage you to become active in this great Chapter of the Appraisal Institute, the Chicago Chapter.

Thank you, take care and be safe,

James Erik Smith, SRA

Appraisal Institute, Chicago Chapter - President