What is a primary goal of the Illinois Real Estate Recovery Fund?

The primary goal of the Illinois Real Estate Recovery Fund is to assist consumers in certain legal claims. This fund is designed to protect consumers who have suffered financial losses due to the unethical or illegal actions of licensed real estate professionals. By providing financial relief in situations where a consumer has obtained a judgment against a broker or a salesperson who is unable to pay, the fund acts as a safety net ensuring that affected individuals have a means of seeking compensation for their losses. This mechanism is essential for maintaining trust in the real estate industry and ensuring that consumers can hold professionals accountable for their actions.

The other options do not align with the foundational purpose of the Recovery Fund. Financing new real estate projects, promoting real estate fairs, or providing loans to brokers fall outside the realm of consumer protection and the intended use of the Recovery Fund. These activities do not directly support consumers who face financial challenges due to the misconduct of real estate professionals.