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You may have heard that effective January 1, 2019, a real estate broker cannot act as an employing broker without having first demonstrated that the broker possesses the experience and knowledge sufficient to enable the broker to employ and adequately supervise other brokers, as appropriate to the broker’s area of supervision.
On December 5, 2017, the Colorado Real Estate Commission adopted Rule A-27 “Employing Broker Qualifications.” That rule sets forth the qualifications necessary for one to obtain an employing broker level license, as well as describing who would be exempt from the new qualifications.
- Please note that this new rule may only impact a small number of current employing level real estate broker licensees.
If you are a Currently Licensed Employing Level Broker
For currently licensed employing level brokers, you will be receiving notice from the Division within the next 30 to 60 days detailing any additional requirements that may be required to maintain your employing level license. An initial review of our records indicates that the vast majority of currently licensed active employing level real estate brokers who upgraded prior to January 1, 2017 will not be required to meet additional requirements.
If you upgraded your license to employing level on or after January 1, 2017, you will be unable to meet the two (2) year active employing broker level license requirement set forth in rule A-27 (A) (1). We will be sending you detailed instructions on how to submit either your Broker Refresher Course certificate or experience affidavit through our online systems.
We would strongly encourage licensees who upgraded in 2017 to complete the Broker Refresher Course, as this is the easiest method for re-qualification, and submission of the education certificate would not be subject to a subsequent experience affidavit audit. If you upgraded your license in 2018, you must fill out the experience affidavit.
- We will be including a copy of the experience affidavit with the notification email mentioned above.
- The Division will be sending out additional notices and instructions pertaining to this new rule over the next few months in order to assist you with maintaining or upgrading to an employing broker level license.
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While the Division of Real Estate is undergoing the transition of real estate broker licensing from an anniversary date cycle to a calendar year licensing cycle, a broker will now have some flexibility when fulfilling their mandatory Annual Commission Update (ACU) course requirements. Because the licensing transition period is shortened for many brokers, they may not be able to take the usual mandatory three (3) different ACU courses during this abbreviated period.
The recent passage of HB18-1227, (Real Estate Commission Flexibility in License Periods Bill) and Colorado Real Estate Commission (CREC) Rule B-2 (a.1), will accommodate licensees during this transition period with an option to take only two (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 continuing education (CE) credits during their transition period, however, only 8 of those credits will be from taking the mandatory ACU courses, with the remaining 16 CEs being taken from approved elective courses.
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Developed with the user experience in mind, the goal is to provide consumers and industry partners an easier way to learn about the HOA Center and its services. The site is intended to help customers better navigate the complexities of HOAs, provide current HOA laws and other relevant and timely information, provide updates on meetings, webcasts and forums, and provide consumers the option to subscribe to HOA related announcements.
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Each month our HOA Officer provides a digest of all the news associated with HOAs in the State of Colorado. Take a moment and get caught up.
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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, or if go to the Division’s Events Calendar and click on the registration link located in the event details for a live webcast.
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Webcast any of the Division of Real Estate meetings or HOA Forums by clicking on the event date below to register for the live webcast.
September 2018
HOA Forum (Alternative Dispute Resolution - (Denver, DORA Offices)
HOA Forum (HOA Basics - Colorado Springs)
HOA Forum (HOA Basics - Castle Rock)
Board of Mortgage Loan Originators Meeting
October 2018
Colorado Real Estate Commission Meeting
HOA Forum (Understanding Document Inspection Requests - (Denver, DORA Offices)
HOA Forum (HOA Basics - Pueblo)
HOA Forum (HOA Basics - Boulder)
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