Illinois e-News Release

For Immediate Release:

November 28, 2023

Contact: Chris Slaby

CHICAGO – The Illinois Department of Financial and Professional Regulation ("IDFPR") congratulates 34 recipients of scholarships in Illinois from the Appraiser Diversity Initiative ("ADI"). This comes after IDFPR’s Division of Real Estate (“DRE”) hosted its first “How to” Series workshop on November 15 at the Real Estate Institute in Niles, collaborating with ADI on this free event that quickly filled to capacity after registrations opened. This marks the first time ADI (a national partnership between the Appraisal Institute, Fannie Mae, Freddie Mac, and the National Urban League that seeks to attract new entrants to the real estate appraisal field while fostering diversity in the profession) partnered with a state-level appraisal program to award scholarships to professionals seeking to enter the appraisal industry. This new series will help educate people across Illinois about becoming an appraiser in Illinois, with the goal of bringing new entrants into the field from diverse backgrounds and rural communities.

“The people of Illinois are clearly interested in learning more about – and entering – the real estate appraisal industry, and IDFPR looks forward to helping make both happen moving forward,” said IDFPR Secretary Mario Treto Jr. “We congratulate the recipients of these first-of-their-kind scholarships in Illinois and look forward to welcoming many more professionals to this key field in the future.”

Each scholarship recipient will receive up to $4,000 to cover their costs for the required education and materials to enter the appraisal profession in Illinois as a trainee appraiser. To be selected for a scholarship, the recipients were required to complete an application, submit a resume, write an essay on why they wish to become an appraiser, and be interviewed by the ADI scholarship committee.

“We’re excited to have taken part in another ADI event to help reach diverse, talented candidates and educate them about the appraisal profession and provide the resources that can help them get on a path to success,” said Scott Reuter, Chief Appraiser at Freddie Mac. “Our efforts are attracting new entrants to the real estate appraisal field while fostering diversity in the profession.”

The Division of Real Estate plans on hosting additional workshops across Illinois, educating attendees about exciting career opportunities in real estate appraisal (including a step-by-step walkthrough of what appraisers do and information about the path to becoming an appraiser). The next “How to” Series workshop, set for January 18, 2024, in Chicago, has already reached full capacity. More information about the “How to” Series – including upcoming workshops and how to contact DRE to host a workshop – may be found on IDFPR’s website here.