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What Could Cause Me to Lose My Illinois Real Estate License?

shutterstock_171921827.jpgPeople across the state rely on real estate brokers, more commonly known as agents, every day when they are buying or selling a house, condo, townhouse, or other property. They trust that agents will act ethically and keep high standards of professionalism. These ethics and standards are enforced by the Real Estate Administration and Disciplinary Board, which regulates licenses for those in the real estate industry, including real estate agents, managing brokers, and leasing agents.

Professional and Personal Infractions Can Cause Licensing Issues

There are a wide variety of reasons that a complaint may be filed against a real estate agent. Some involve professional infractions, while others reflect the personal behavior of the individual. The actions related to an agent’s professional business that could cause disciplinary action include:

  • Accounting or recordkeeping irregularities, including not keeping records available for review

  • Acting as an agent without a valid license or with an expired license

  • Conflicts of interest, including representing more than one party in a transaction without disclosing that fact

  • Discipline from regulating boards in other states

  • Engaging in misleading or inaccurate advertising

  • Unethical, Unprofessional, or Dishonorable Conduct

  • Violations involving contracts,

  • Violations involving escrow money including incomplete or missing contracts

There are also actions and circumstances that put an agent’s license at risk which are outside of the normal employment practice of an agent, but which could impact their ability to practice the profession in a skillful and safe manner. These include:

  • Being convicted of various felony or misdemeanor offenses

  • The inability to perform professionally as an agent due to a mental illness, mental deterioration, or physical disability

  • Alcohol or drug abuse

Violations of these or other standards may lead to an investigation by the Illinois Department of Financial and Professional Regulation (IDFPR) and a hearing before the Illinois Real Estate Administration and Disciplinary Board. It is important that you contact an experienced licensed defense attorney who can review your case before you speak to investigators or provide them with any documentation. We can help you build your response and work towards your license defense.

Contact a Chicago Real Estate License Defense Attorney

If you are being investigated by the Illinois Real Estate Administration and Disciplinary Board, you should contact an Illinois Lawyer for Violations of Real Estate Regulations at Williams & Nickl, LLC. We have successfully defended clients against a variety of disciplinary actions to their licenses and are ready to work with you to keep your livelihood. Call us today at 312-335-9470 for a free consultation.

Source:

https://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=022504540HArt%2E+20&ActID=1364&ChapterID=24&SeqStart=5700000&SeqEnd=9500000

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