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 managing broker license fined $2,500 and required to complete a 4-hour agency course and a 3-hour ethics course for serving as a dual agent where they had or would have had a direct or indirect interest in properties sold.
- Real estate managing broker license revoked for a minimum period of 10 years and fined $1,300,000 for engaging in dishonorable, unethical, or unprofessional conduct of a character likely to deceive, defraud, or harm the public, including, but not limited to, conduct set forth in rules adopted by the Department; failing to remit or account for the money of others coming into their possession; failure to properly deposit funds in an escrow account; commingling the money of others with their own funds; false advertising; aiding and abetting the unlicensed practice of the corporation; and dishonest dealing.
- Real estate broker license fined $5,000 and ordered to complete education for failing to disclose their licensee status, in writing, to all parties in the transaction, advertising a property for sale without the written consent of the owner, and performing licensed activities for a broker other than their sponsoring broker.
- Real estate managing broker license reprimanded and fined $1,000 after pleading guilty to Disregard of Election Code in Tazewell County, Illinois Case.
- Real estate broker license suspended for violating the terms of the Department’s Order.
- Real estate managing broker license fined $1,500 and ordered to take a class for entering into a listing agreement that failed to contain required items.
- Real estate broker license granted and placed on probation for 1 year due to a prior felony conviction.
- Real estate broker license suspended for failure to file and/or pay Illinois state income taxes.
- Real estate residential leasing agent license suspended for being more than 30 days delinquent in the payment of child support payments.
