Laurie Murphy - Regulating Illinois Real Estate

If you’re interested in investing in real estate or you’re looking to start your entrepreneurial journey in Illinois, then this episode will definitely be helpful for you! On today’s episode of The Real Estate Diplomat, Aaron Masliansky is joined by Laurie Murphy who works as the Acting Director for the Division of Real Estate at the Illinois Department of Financial and Professional Regulation. She shares on this episode her goal of building a relationship between the government and the public that is cooperative in nature and is more geared towards the protection of investors and entrepreneurs in the state. Laurie’s got you covered with a lot of facts and debunking prejudices about her services on this episode so stay tuned! Illinois towards modernization and progress:Laurie shares about how her office constantly changes to be able to cope up with the rise of virtual platforms in the industry. For one, this is necessary so that her office can properly regulate and protect both clients and Realtors that are utilizing these online systems. Laurie explains that this is necessary not only for the protection of already existing and potential persons that will be involved with real estate but also to modernize the system for faster and safer transactions especially during a pandemic. Repairing the Industry:Laurie shares how her agency is correcting for the mistakes of the past in the industry. This is focused on correcting for systemic racism that led to redlining and unfair appraisal, among many issues. She is working towards the continued improvement of the appraisal system to make the playing field fair, inclusive, and transparent.About Laurie Murphy:Acting Director of the Division of Real Estate at Illinois Department of Financial and Professional RegulationAppointed Acting Director by Governor Pritzker on April 1, 2021Served as Deputy Director since June 1, 2019Started her career at IDFPR as the Chief of Boards and Complaint for Real Estate in February of 2018Prior to Joining IDFPR, she enjoyed a 20-year career in real estate serving the majority of her career as a Designated Managing BrokerBachelor of Science in Biology from Northern Illinois UniversityA lifelong resident of West Chicago, ILOutline of the Episode:[00:07] About Laurie Murphy and her office[08:35] The stigma about the IDF PR[12:42] What sets Illinois apart from other states’ regulations[15:58] Why get the right professional for the right job[18:45] How Laurie’s office ensures security and modernity[22:57] What is a virtual office[25:24] The future for virtual platforms[31:22] Efforts for the removal of bias in the industry[37:23] What are the basics for safe investing in the USResources:LinkedIn: https://www.linkedin.com/in/laurieamurphy/Facebook Page for IDFPR: https://www.facebook.com/ILDFPRConnect with Aaron Masliansky!Website: https://www.therealestatediplomat.com/LinkedIn: https://www.linkedin.com/in/aaron-masliansky-4b937217/Facebook: https://www.facebook.com/aaron.maslianskyTwitter: https://twitter.com/aaronmasliansky