Real Estate Disciplines
Following are recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation. Visit their website for more details and the most current disciplinary action.
- Real estate broker license fined $1,000 and required to complete an advertising class for advertising their services on billboards and buses with their name much larger than that of their sponsoring broker.
- Real estate managing broker license and real estate limited liability company fined $1,000 jointly and severally for failure to properly supervise a sponsored licensee's advertisement on billboards and buses with their name much larger than that of their sponsoring broker.
- Real estate broker license suspended for minimum period of one year, fined $7,500, and ordered to take education for inducing a client to break a listing agreement with another brokerage; failing to market a property; performing unauthorized demolition of a property; instructing a client to leave blanks in a listing agreement to be filled in later; and failing to provide information to the Department or interests as opposed to their or any other person's self-interest; failing to exercise reasonable skill and care in the performance of brokerage services; and engaged in dishonorable, unethical, or unprofessional conduct of a character likely to deceive, defraud, or harm the public.
- Real estate broker license fined $1,000 and ordered to complete 15 hours of education for failing to inquire into and obtain signatures of all owners of the subject property on the listing agreement and for failing to inform their designated managing broker of the listing agreement and obtaining their signature on the listing agreement.
- Real estate managing broker license suspended for a minimum period of six months and fined $5,000 for failing to respond to a broker verification report.
- Real estate managing broker license revoked and fined $10,000 for failure to return earnest money and assisting in unlicensed activity.
- Real estate managing broker, real estate pre-license instructor, and real estate CE instructor licenses revoked for the misappropriation of company funds.
- Real estate broker license issued and placed on probation due to prior license discipline and failing to disclose said discipline.
- Real estate broker license issued and placed on probation for two years due to a prior felony conviction.
- Real estate broker license suspended for failure to file and/or pay Illinois state income taxes.
