On What Grounds Can an Illinois Real Estate License Be Revoked?

 Posted on November 05, 2021 in Professional License Defense

The real estate market is booming across Illinois and across the country. For sale signs that are put up in front of homes are quickly replaced with under contract and sold signs. Many real estate agents are having great success in sales and the commissions they are earning. However, all it takes is one complaint or one investigation by the Illinois Division of Real Estate (DRE) and that success can quickly disappear.

Without a real estate license, a person cannot sell real estate in the state. The DRE has established standards that all Illinois real estate professionals must adhere to. Accusations of not following those standards could result in loss of your license. So, what types of issues could threaten an agent’s real estate license?

Criminal Conviction

One of the most serious issues that can result in loss of a real estate license is a conviction for certain crimes, especially crimes of moral turpitude. Crimes that fall in this category include the following:

• Aggravated assault

• Arson

• Bribery

• Burglary

• Conspiracy to defraud

• Embezzlement

• Extortion

• Forgery

• Insurance fraud

•  Larceny

•  Perjury

• Rape

• Theft

• Writing bad checks (felony)

Client Complaints

Another reason why an agent’s license can be revoked or not renewed is if a client files a formal complaint about them with the board. While there will always be clients who are unhappy, regardless of how hard you try to satisfy them, it is complaints that allege some kind of misconduct on the part of an agent that could affect the status of an agent’s real estate license.

Violations of Real Estate Regulations and Rules

The DRE has an extensive list of special rules and regulations that need to be followed in every real estate transaction. If there are allegations that an agent violated those rules, this can result in an investigation and possible loss of license. For example, if a home buyer claims that the seller did not disclose a known issue with the property, the seller’s agent can be held responsible for that failure to disclose. Not only could this call into question their professional reputation, but it could also cause the DER to question the agent’s professionalism and whether they should be allowed to sell real estate.

Contact an Illinois License Defense Attorney for Legal Assistance

If you have been notified by the Illinois Division of Real Estate that you are being investigated and are at risk of losing your real estate license, or have been told by the board you will not be allowed to renew your license, do not delay in contacting a seasoned Illinois real estate license defense attorney for help. Call The Law Offices of Joseph J. Bogdan, Inc. at 630-310-1267 to schedule a free and confidential consultation. Do not delay.

Source:

https://idfpr.com/dre.asp

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