Important Notice Regarding the Real Estate Broker License Transition and “Broker Transition” course.
While the Division of Real Estate is currently undergoing the transition of broker licensing from an anniversary date cycle to a calendar year licensing cycle, a proposed bill making its way through the Colorado Legislature, the “Real Estate Commission Flexibility in License Periods” Bill (HB18-1227) will have an impact on a broker’s continuing education (CE) requirements.
Presently, a broker must take 24 hours of CE during their 3-year licensing cycle, 12 hours of which must be the mandatory Annual Commission Update (ACU) course. This means that the broker must take 3 different ACU courses (4 hours each) within that licensing cycle. Because the transition of a broker’s licensing cycle may be less than 3 years, a broker may not be able to take 3 different ACU courses during that period of time. A “broker transition” course was created to cover that scenario so that a broker could take 2 different ACU classes and the “broker transition” course in order to be compliant with their mandatory CE requirements.
Once signed into law, HB18-1227 will eliminate the need for having to take the “broker transition” course and the broker will only have to take 2 different ACU courses (8 mandatory credits) during their licensing transition period. A broker will still have to comply with taking the full 24 hours of CE during their transition period, however, only 8 of those credits will be from taking the ACU courses, with the remaining 16 CEs being taken from approved elective courses.
The Division will keep you abreast of the final passage of this Bill so that you can plan your CE classes accordingly during this broker transition period.
Appraiser Qualification Criteria and Examination Requirements
The Appraisal Qualifications Board of the Appraisal Foundation has recently changed the Real Property Appraiser Qualification Criteria. A summary of these changes, which are effective May 1, 2018, can be found Appraisal Foundation Website.
The Division will be undertaking Emergency Rule-Making before the Colorado Board of Real Estate Appraisers on April 30, 2018, in order to incorporate and be in compliance with these new appraiser qualifications. Once those rules are adopted, the Division will incorporate the new qualifications on its site.
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Attend a forum to learn about the Colorado HOA Information and Resource Center and meet the HOA Information Officer, Shanneyvie Johnson. You will have the opportunity to voice your questions and concerns regarding HOAs. At the forum, helpful resources will be provided alongside a discussion of the rights and obligations of living in an HOA community. Topics and locations change monthly.
Seating is limited, please RSVP to: shanneyvie.johnson@state.co.us
Live Webcast
To view a live webcast of HOA Forum go to the Division's events calendar and click on the registration link located in the event details.
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If you are not able to attend but want to webcast any of the Division of Real Estate meetings click on the meeting date and you'll be able to register for the live webcast.
April 2018
Colorado Real Estate Commission Meeting
HOA Forum (An Overview of the Community Association Management Program}
Board of Real Estate Appraiser Board Meeting
May 2018
HOA Forum (An overview of reserve studies)
Conservation Easement Oversight Commission Meeting
Mortgage Loan Originator Board Meeting
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