Managers at Kale Realty, a Chicago-based brokerage sponsoring nearly 400 agents, failed to properly supervise employees and allowed Realtors to work without licenses, according to a ruling by the Illinois Department of Financial and Professional Regulation. The ruling issued by the Illinois state regulatory agency effectively bars the 65-year-old brokerage from operating and will force the agents sponsored by the company to seek new licenses through another sponsor, according to an IDFPR official. “The Illinois Department of Financial and Professional Regulation has revoked the license of Kale Realty LLC of Chicago,” said IDFPR spokesman Terry Horstman in a statement to Inman issued on Tuesday. “The revocation is based on findings of unlicensed practice by their employees, lack of proper employment agreements with brokers and insufficient supervision of employees.” During a 10-year period between 2007 and 2017, Kale Realty owner Nick Patterson and current managing broker David Bov…
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