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 managing broker license was fined $1,000 for failing to keep records to remit rental money.
  • A real estate managing broker license was revoked for violating the terms of a Consent Order.
  • A real estate managing broker license was indefinitely suspended for a minimum of one year and fined $5,000 for failing to cooperate with a Department investigation, failing to produce documents at the request of the Department, and failing to remit rental payments coming into her possession.
  • A real estate managing broker license and real estate broker corporation license were both revoked for being convicted of Fraud by Wire, Radio or Television pursuant to 18 U.S.C 1343 and Money Laundering pursuant to 18 U.S.C. 1957.
  • A real estate managing broker license and real estate broker corporation license were both revoked and each fined $25,000 for engaging in unlicensed practice, failing to return earnest money, and failing to provide business and escrow records to the Department.
  • A real estate managing broker license was reprimanded and fined $500 and real estate broker firm license reprimanded for failure to remit monies collected and failure to notify the Department of a change of address in a timely manner.
  • A real estate broker license was indefinitely suspended for failure to complete required hours of continuing education.
  • A real estate leasing agent license was indefinitely suspended for a minimum of six months and fined $1,000 for failing to meet the required continuing education hours for the renewal period of August 1, 2010 through July 31, 2012.
  • A real estate broker license was indefinitely suspended for a minimum of one year  for failing to furnish a copy of a real estate contract to her client, failing to release earnest money to her client in a timely manner, and providing a copy of a modified check to another broker as proof of receipt of earnest money from her client.
  • A real estate limited liability firm license was indefinitely suspended for a minimum of one year and fined $2,500 for failure to cooperate with an IDFPR investigation.
  • A licensed community association manager license was placed in refuse to renew status for unprofessional incompetence.  

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