Who is eligible to collect damages from the Real Estate Recovery Fund maintained by IDFPR?

The correct choice is that any person who suffered a loss based on a licensee's conduct, as determined by IDFPR, is eligible to collect damages from the Real Estate Recovery Fund. This fund is designed to protect consumers in the event they incur a financial loss as a result of the wrongdoing of a licensed real estate professional.

The eligibility for recovery emphasizes that an individual must specifically demonstrate that they have experienced a loss directly due to the actions or conduct of a licensed real estate agent or broker. The IDFPR (Illinois Department of Financial and Professional Regulation) is responsible for reviewing reports and complaints to determine if the conditions for accessing the fund are met, ensuring that only those who have genuinely suffered due to malfeasance can receive compensation. This makes the fund an important consumer protection mechanism within the real estate industry.

The other options do not align with the purpose of the Real Estate Recovery Fund. For instance, leasing agents discriminated against by their broker or brokers feeling unfairly treated by IDFPR do not fit the criteria of having directly suffered a loss due to a licensee's conduct. Similarly, simply filing a complaint with IDFPR does not automatically qualify an individual for compensation unless it can be substantiated that they incurred a loss