Real Estate Disciplines March 2014

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 ordered to cease and desist unlicensed practice of real estate and shall not petition or apply for any other real estate license for a minimum of three years and fined $10,000.
  • A real estate broker partnership license was revoked for discrepancies with an escrow account and failure to comply with Department standards on employment agreements and an unlicensed individual was ordered to cease and desist unlicensed practice of real estate and assessed a $25,000 civil penalty.
  • A real estate managing broker license was placed in refuse to renew status due to failure to comply with the Department’s request to examine the business and escrow records.
  • A real estate managing broker license was reprimanded and restricted as acting as sole proprietor for a minimum of three years following reinstatement of license for failure to provide minimum services to her client.
  • 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.
  • A real estate broker license was indefinitely suspended for a minimum of five years as the result of his failure to comply with the terms of a consent order issued by the Department.
  • A real estate broker license was revoked and fined $10,000 and real estate salesperson license due to a felony conviction of Fraud and Wire Fraud
  • An unlicensed person was ordered to cease and desist unlicensed practice of community association management.