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 broker license fined was $1,000 for failure to renew her broker license and continued to perform licensed activities during the time her license was not renewed.

  • A real estate broker license was fined $1,000 for allowing the buyer to have access to the property prior to closing by using the key from the lock box.

  • A real estate broker license revoked for violating the terms of a consent order.

  • A real estate broker license was revoked and fined $2,500 after using her real estate license to schedule showings, obtain lock box codes and stealing property from the homes that she scheduled to show.
  • A real estate managing broker license was reprimanded and fined $2,000 because she entered into listing agreements which omitted certain information, provided inaccurate information to a potential buyer, made premature changes to the MLS, and failed to tender an offer in a timely manner.

  • A real estate managing broker license and a real estate corporation license each reprimanded and fined $1,500 owed jointly and severally for serving as the managing broker for two brokerages at the same time and advertised in those positions. Also failed to properly register the assumed name.
  • A real estate managing broker license and a licensed real estate limited liability firm are jointly and severally fined $3,000 and shall take a broker management class for failure to produce all documents requested following a Brokerage Verification Examination, for transferring escrow money from one account to another account without prior written authorization, and for allowing a sponsored licensee to perform licensed activities while license was in "not renewed" status.

  • A real estate managing broker license and a real estate broker corporation licenses are revoked due to a payment from the Real Estate Recovery Fund on behalf of the licensees.

  • A real estate managing broker license was suspended for one-year and fined $5,000 for engaging in fraud and misrepresentation in applying for and procuring a real estate broker license.

  • A real estate managing broker license was revoked and fined $25,000 following being disbarred by Illinois Supreme Court for engaging in conduct involving dishonesty, fraud, deceit or misrepresentation.

  • A real estate managing broker license was restored to probation for two years effective upon payment of fees and filing of forms.

  • A real estate managing broker license was fined $2,000 for engaging in dishonorable, unethical, or unprofessional conduct of a character likely to deceive, defraud, or harm the public.

  • A real estate salesperson license was ordered to cease and desist the practice of real estate without a valid license and fined $1,250 for engaging in the practice of real estate while his license was in expired status.

  • Several real estate broker licenses were suspended for failure to pay and/or file Illinois state income taxes.

  • A real estate broker license was surrendered and fined $1,000 for engaging in dishonorable, unethical, or unprofessional conduct of a character likely to deceive, defraud, or harm the public.

  • A real estate managing broker license indefinitely suspended and fined $5,000 for failure to disclose, to all parties in writing, her interest in a real estate transaction; for engaging in unprofessional conduct by failing to disclose her interest and thus engaging in the conduct of a character likely to deceive, defraud, or harm the public; and for failing to register a diminutive name with the Department.

  • A real estate managing broker license and a real estate corporation license indefinitely suspended and each fined $4,500 for aiding and abetting the unlicensed practice of real estate by utilizing unlicensed individuals to engage in leasing activities on their behalf and for utilizing an assumed name not registered with the Department.