Illinois License Law
The Illinois IDFPR may suspend or revoke a real estate license for all of the following EXCEPT:
ACommingling client funds with personal funds
BMaking material misrepresentations in a real estate transaction
CCharging less than the going commission rate✓ Correct
DFailing to account for earnest money
Explanation
Commissions in Illinois are negotiable and are not fixed by law or IDFPR rule. Charging less than a 'going rate' is not grounds for discipline—in fact, setting minimum commission rates could be an antitrust violation. Grounds for license discipline include commingling funds, misrepresentation, fraud, failure to account for funds, and other violations of the Illinois Real Estate License Act of 2000.
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