March 2013 | 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 and application for managing real estate broker license was denied and a real estate broker corporation license revoked for violating the terms of a disciplinary order and for a series of misrepresentations and actions involving the failure to remit money belonging to others, failing to perform terms of brokerage agreements, failing to promote the best interests of a client, and engaging in dishonorable, unethical, and unprofessional conduct.
- A real estate managing broker license was placed on probation for 18 months and fined $300 for allegations he failed to maintain proper signage, failed to maintain adequate records, and failed to produce documents requested by the Department.
- A real estate broker license was indefinitely suspended and fined $5,000 for failing to comply with the department's request to inspect his business and escrow records.
- A real estate broker license was placed in refuse to renew status for his failure to perform on a guaranteed sales plan and engaging in dishonorable, unethical, or unprofessional conduct of a character likely to deceive, defraud, or harm the public.
- A real estate broker license was placed in refuse to renew for his failure to complete the continuing education credits required for renewal of his license.