Illinois law requires all real estate brokers who are doing business in the state to hold a valid Illinois real estate license. All professional licensing is overseen by the Illinois Department of Financial and Professional Regulation (IDFPR). If a real estate broker is accused of violating any regulations or laws, they could face serious consequences, including suspension of their professional license. These allegations can involve how a broker is running their business, as well as allegations and/or complaints from clients.
The following are some of the more common reasons why the IDFPR will take action. If you are a broker who is notified that you are being investigated, it is important to contact an experienced professional license defense attorney right away.
Client Complaints
While the majority of buyers and sellers are happy with the real estate brokers they work with, there will always be some clients who find a reason to be unhappy with the way their transaction went and that dissatisfaction can even lead to filing complaints and taking legal action. Complaints that can lead to an IDFPR investigation include:
...