As far back as November 2000 Exchange Apartment Finders was fined for practicing real estate without a license and ordered to obtain one. We’ve found no evidence that it ever did, but have found plenty of evidence that it has continued doing business to this day.
One of our real estate contacts, who has been keeping us informed about the progress of a complaint filed against EAF, was recently told by an IDFPR investigator that EAF has been referred to the Illinois Attorney General‘s office for criminal prosecution.
The rental services industry in Chicago has operated for decades as if the real estate and consumer fraud laws of the State of Illinois didn’t exist. But then, so has the Attorney General’s office.
Will action finally be taken against EAF? Stay tuned for the answer. In the meantime, we’d like to remind all of the unlicensed kiddies in the rental services business that they’re committing a crime:
(225 ILCS 454/20 22)
Sec. 20 22. Violations. Any person who is found working or acting as a managing broker, real estate broker, real estate salesperson, or leasing agent or holding himself or herself out as a licensed sponsoring broker, managing broker, real estate broker, real estate salesperson, or leasing agent without being issued a valid existing license is guilty of a Class A misdemeanor and on conviction of a second or subsequent offense the violator shall be guilty of a Class 4 felony.