A Rockford realtor's broker license is suspended and he has been fined for illegally listing properties without owner consent.
According to the Illinois Department of Financial and Professional Regulation, Ricky Davis, of Rockford, listed certain properties without a listing agreement or the consent of the owners. The report also says Davis illegally had an automatic renewal clause on a property management agreement, forged a listing contract for the property and had listed the property on the Multiple Listing Service without an agreement. The state also said in the report Davis acted on behalf of a broker other than his sponsoring broker and had engaged in unlicensed practice by virtue of having managed a property without a real estate license. As a result, the IDFPR fined Davis $10,000 and suspended his real estate managing broker indefinitely for at least 2 years.
Davis' business, StateLine Realty - Realington ENT LLC was also fined $4,000 for listing certain properties without a listing agreement or the consent of the owners. According to the report, the listing contract didn't contain the signatures of the property owners and it had entered into a sales contract for a property it didn't own.
Attorneys for Davis released the following statement regarding the report:
"Stateline Realty's attorneys believe that the state has abused their administrative power by denying us due process. A complaint has been filed for administrative review seeking an order to reverse the decision."
Rockford Area Realtors released a statement Wednesday about StateLine Realty's suspension.
"In order to participate in the Rockford Area Realtors Multiple Listing Service, a Realtors needs to hold a current license with the state of Illinois," Rockford Area Realtors CEO and President, Steve Bois said. "In monitoring the IDFPR Site, we see that Mr. Davis’ license is currently being held in suspension."
We will continue to follow this story and bring you any updates as soon as we get them.