September 2012 | D.R. Legal News
Real Estate Disciplines
Following are recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation, http://www.idfpr.com/News/Disciplines/DiscReports.asp
- A real estate broker license was suspended followed by probation for two years and fined $500 for failure to comply with a consent order requiring him to submit quarterly reports.
- A real estate broker license and real estate limited liability firm license were both revoked and each fined $25,000 for making false promises, engaging in dishonorable, unethical or unprofessional conduct including, renting a foreclosed property, failure to return a security deposit and failure to put the security deposit into an escrow account.
- A real estate broker license was revoked and fined $25,000 for failure to cooperate with the Department’s investigations, failure to promptly remit or account for moneys belonging to her clients and for engaging in dishonorable, unethical or unprofessional conduct in violation of the Illinois real estate license act.
- A real estate broker license was reprimanded, fined $1,000, ordered to complete a broker ethics course and prohibited from maintaining an escrow account in her real estate practice for five years based on allegations that she disbursed earnest money without first obtaining the written consent of both parties to the transaction.
- A real estate broker license was fined $1,000 with 12 hours continuing education requirements for failure to comply with a consent order.