Disciplines July 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 managing broker license was placed on probation for one year because respondent failed to disclose in writing his status as a licensee, failed to disclose that he was acting for more than one party in a transaction and that he was submitting contemporaneous offers, and failed to disclose that he had an interest in the property that was being purchased.
  • A real estate managing broker license was placed on probation for one year and was ordered to cease and desist unlicensed practice of real estate after acted beyond the scope of his license by managing and operating an unlicensed real estate firm and his activities in connection with the firm were not performed under the supervision of his sponsoring broker.
  • A real estate managing broker license was placed on probation for one year with work restrictions and fined $2,000 for failing to disclose his licensee status in a real estate transaction.
  • Real estate managing broker license was placed on probation for one year and fined $2,500 for failing to supervise a broker who presented a document with forged signatures and who omitted certain information from a real estate contract. Respondent also improperly instructed the listing broker and title company to pay commissions on properties to his current sponsoring broker even though the properties were placed under contract when he and another broker worked for a different company.
  • A real estate managing broker license was revoked after he was convicted of a violation of Title 15 USC 1 (Sherman Antitrust Act).
  • Real estate broker license was placed on probation for one year and fined $1,000 for presenting a document with forged signatures and for omitting certain information from a real estate contract.
  • Real estate broker license was suspended for three months for failure to remit client funds and comingling client and personal funds.
  • Real estate broker license was suspended for nine months, followed by being placed on probation for one year and fined $2,500 for failing to deposit an earnest money check into escrow and for failing to provide documents to the Department.
  • Real estate broker license was placed on probation for one year and fined $1,000 for having acted as an attorney and a broker on the same transaction and for failing to comply with the Department's request for documents.
  • Real estate broker license was suspended for six months and fined $4,000 and ordered to complete a course in Real Estate Agency & License Law, and ordered to complete the 12-hour broker management course for violating the Real Estate License Law by failing to disclose his licensee status in writing, operating a business with a name that is similar to that of his sponsoring broker, accepting compensation for performance of activities from a person other than his sponsoring broker, representing a broker other than his sponsoring broker, and advertising in an inaccurate and misleading way.
  • Real estate broker license was placed on probation for one year and fined $2,500 for having contact with a party represented by another agent and for submitting a contract to the seller's attorney that had not been approved by the seller.
  • An unlicensed person was ordered to cease and desist the unlicensed practice of community association management.  