DR Legal News: Recent Real Estate Disciplines

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 actions.

  • A real estate managing broker license fined $500 and ordered to complete a 15 hour applied management and supervision course for directly negotiating with a represented property owner and failing to properly supervise the actions of a sponsored licensee in a real estate transaction.
  • A real estate managing broker license and real estate corporation license both indefinitely suspended for a minimum period of one year and each fined $2,500 for failure to provide documents to the Department pursuant to a Brokerage Verification Examination.
  • A real estate managing broker license and real estate limited liability firm were fined $1,000, owed jointly and severally for failing to respond in a timely manner to Department requests for documentation.
  • A real estate leasing agent license revoked and fined $5,000 for failure to deposit security deposits in an escrow account.
  • A real estate managing broker license indefinitely suspended and fined $2,000 as a result of his lack of cooperation with the Department's examination and for using the name of an unlicensed firm in his advertising.
  • A real estate leasing agent license revoked and fined $2,000 for advertising using an assumed name not registered with the Department, having been convicted of a felony conviction, having falsified an application for licensure, and practicing while his license was inoperative.
  • A real estate leasing agent license is indefinitely suspended for a minimum of 18 months and fined $5,000 following violations of numerous provisions of the Real Estate License Act of 2000, including untruthful advertising; failure to account for or to remit moneys in his possession that belong to others; failure to make records available to the Department; engaging in dishonorable, unethical or unprofessional conduct of a character likely to harm the public; failing to provide information requested by the Department within 30 days of the request; disregarding or violating any provision of the Act or the published rules promulgated by the rules to enforce the Act.
  • A real estate managing broker license fined $500 for failure to provide the Department with documents requested during a brokerage verification examination.
  • A real estate broker license suspended for six months and shall not represent any party in a short sale transaction for an indefinite time period for failure to receive written authorization to serve as a dual agent in the transaction, failure to disclose her familial relationship with the seller, failure to disclose her marital relationship with the buyer's lender, and failure to enter into a listing agreement.
  • A real estate managing broker license revoked due to failure to comply with the terms of a consent order.
  • A real estate managing broker license is restored and fined $500 for failure to comply with terms of a non-disciplinary order.
  • A real estate broker license suspended for six weeks followed by indefinite probation for a minimum period of two years and ordered to complete a 30 hour post license course for aiding and abetting the unlicensed practice of real estate, failing to obtain a non-agency agreement, failing to obtain written permission to transfer a listing from a former sponsoring broker, failing to obtain a new listing agreement for a transferred listing, and failing to disclose to potential buyers that here was a contract pending on a listed property all in the same transaction.
  • A real estate managing broker license reprimanded, fined $1,000 and ordered to take a class for failure to produce documents to the Department upon request, and producing documents that were recently manufactured by the respondent to comply with the request.
  • A real estate managing broker license fined $750 and ordered to complete a 15 hour applied management and supervision course for failing to properly supervise the actions of a sponsored licensee in a real estate transaction.
  • A real estate broker license reprimanded and fined $500 for engaging in the practice of real estate while his license was inoperative.
  • A real estate managing broker license reprimanded and fined $2,000 for engaging in the practice of real estate while his license was expired.
  • A real estate broker corporation license reprimanded for engaging in the practice of real estate while its license was inoperative.
  • An individual was ordered to cease and desist the unlicensed practice of real estate and assessed a $5,000 civil penalty.