Assisting Real Estate Licensees in Protecting their License in Chicago

Real estate brokers and agents need to obtain a professional license before conducting this line of work. Such licenses are issued by the Illinois Department of Financial and Professional Regulation (IDFPR), which also oversees compliance matters for licensed real estate professionals. In some situations, the IDFPR might suspend or revoke a real estate license if officials believe that a professional engaged in misconduct or noncompliance with applicable regulations. 

If you make a living as an agent or broker, you have a lot to lose if your license is in jeopardy. With your career at stake, you should not wait to consult with a Chicago real estate license defense lawyer about your defense options. Call attorney Jordan Matyas at 1818 – An Advocacy Group today.

Real Estate License Suspension

The Illinois Real Estate License Act sets out standards for licensing, professional conduct, and disciplinary action for noncompliance. These regulations are in place to protect the interests of the public, and the IDFPR takes the enforcement of these laws very seriously. You will need a license for any of the following:

• Real estate branch office
• Real estate corporation
• Real estate broker
• Real estate partnership
• Real estate LLC
• Real estate CE school
• Real estate CE instructor
• Leasing agent or leasing agent student
• Real estate managing broker
• Real estate pre-license school or instructor

Everyone with a real estate license should fully understand all applicable regulations and comply with them at all times. 

If the IDFPR believes that you engaged in any type of misconduct, officials can suspend or even revoke your real estate license. This will mean that you will not be able to work in your chosen profession. The following are possible allegations that might lead to a license suspension or revocation:

• Fraud or false information provided to IDFPR
• Criminal convictions or administrative sanctions
• Mental or physical disabilities that prevent practice
• Disciplinary action in another state or country regarding your license
• Acting without a license or with an expired license
• Misrepresentations in advertisements
• False promises to induce client action
• Acting with conflicting interests and without notice
• Failing to remit or account money
• Not properly maintaining escrow accounts
• Not responding to inquiries by the IDFPR
• Unethical or unprofessional conduct that might affect the public
• Commingling funds with your own personal funds
• Dishonest dealing
• Displaying “for rent” or “for sale signs without proper owner consent
• Advertisements prohibited by the Act
• Offering guaranteed sales plans not allowed under the Act
• Engaging in racial or religious discrimination
• Violations the Illinois Human Rights Act
• Negotiating a lease or sale with someone known to be working with another broker without authorization
• Violating the Illinois Real Estate Time-Share Acts, the Land Sales Registration Act of 1989, the Illinois Auction License Act, or related regulations
• Substance abuse that affects the ability to practice

No matter what reason is cited for the suspension of your real estate license, you need an experienced attorney to represent you to the IDFPR. 

Consult with a Chicago Real Estate License Defense Lawyer About Your Situation

Having the right Chicago real estate license defense attorney can be the difference between continuing your career or losing your livelihood. 1818 – An Advocacy Group can help, so please contact us today.