Disciplines September 2013

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 placed on indefinite probation for a minimum of two years for failure to pay a total of $10,000 in fines in prior cases.
  • A real estate broker license was suspended for six months, followed by two and one-half years probation and fined $2,500 after he operated a satellite office location, aided and abetted another in the unlicensed practice of real estate, and placed real estate advertisements without a managing broker.
  • A real estate broker license was revoked and fined $100,000 for being disciplined by the Illinois Secretary of State's Office for offering or selling securities in or from the State of Illinois without a license.
  • A real estate broker license was placed on probation for one year for failing to deposit earnest money, altering the date and unsuccessfully presenting the check to the bank a year later, failed to obtain all owners signatures on listing agreement.
  • An (unlicensed) individual was ordered to cease and desist unlicensed practice of Time Share Sales. 