h. have engaged in real estate activity without a valid license (an additional civil penalty of up to $25,000 may be imposed for this violation); or i. attempt to subvert or cheat on the licensing exam or assist someone else in doing so. 2. Licensees are also subject to disciplinary action if, in performing, attempting, or pretending to perform any act as a broker or salesperson, or in handling their own property, they are found guilty of a. making any substantial misrepresentation or untruthful advertising; b. making any false promises likely to influence, persuade, or induce; c. pursuing a continued and flagrant course of misrepresentation or false promises; d. using any misleading or untruthful advertising. e. using any trade name or insignia of membership in any real estate organization of which the licensee is not a member; f. acting as an undisclosed dual agent; g. failing to account for or to remit any monies or documents belonging to others that come into the licensee’s possession; h. failing to maintain and deposit in a special noninterest bearing account, separate and apart from a personal or other business accounts, all escrow monies belonging to others entrusted to the licensee; i. failing to make all escrow records and related real estate business documents available to IDFPR’s real estate enforcement personnel; j. failing to furnish on request copies of all documents relating to a real estate transaction to all parties executing them; k. failing by a sponsoring broker to submit termination documentation in a timely manner; l. paying a commission or valuable consideration to any person for acts or services performed in violation of the license act; m. demonstrating unworthiness or incompetency; n. commingling the money or property of others with their own; o. employing any person on a purely temporary or singledeal as a means of evading the law regarding payment of commission to nonlicensees; p. permitting the use of their license as a broker to enable a salesperson or an unlicensed person to operate a real estate business; q. engaging in any conduct, whether or not specified in the license act, that constitutes dishonest dealing; r. displaying a sign on any property without the written consent of an owner or advertising that a property is for sale or for rent without the owner’s consent; s. failing to provide information requested by IDFPR within 30 days of the request;
h. have engaged in real estate activity without a valid license (an additional civil penalty of up to $25,000 may be imposed for this violation); or i. attempt to subvert or cheat on the licensing exam or assist someone else in doing so. 2. Licensees are also subject to disciplinary action if, in performing, attempting, or pretending to perform any act as a broker or salesperson, or in handling their own property, they are found guilty of a. making any substantial misrepresentation or untruthful advertising; b. making any false promises likely to influence, persuade, or induce; c. pursuing a continued and flagrant course of misrepresentation or false promises; d. using any misleading or untruthful advertising. e. using any trade name or insignia of membership in any real estate organization of which the licensee is not a member; f. acting as an undisclosed dual agent; g. failing to account for or to remit any monies or documents belonging to others that come into the licensee’s possession; h. failing to maintain and deposit in a special noninterest bearing account, separate and apart from a personal or other business accounts, all escrow monies belonging to others entrusted to the licensee; i. failing to make all escrow records and related real estate business documents available to IDFPR’s real estate enforcement personnel; j. failing to furnish on request copies of all documents relating to a real estate transaction to all parties executing them; k. failing by a sponsoring broker to submit termination documentation in a timely manner; l. paying a commission or valuable consideration to any person for acts or services performed in violation of the license act; m. demonstrating unworthiness or incompetency; n. commingling the money or property of others with their own; o. employing any person on a purely temporary or singledeal as a means of evading the law regarding payment of commission to nonlicensees; p. permitting the use of their license as a broker to enable a salesperson or an unlicensed person to operate a real estate business; q. engaging in any conduct, whether or not specified in the license act, that constitutes dishonest dealing; r. displaying a sign on any property without the written consent of an owner or advertising that a property is for sale or for rent without the owner’s consent; s. failing to provide information requested by IDFPR within 30 days of the request;
Chapter_14._Illinois_License_Act_2000.docx