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Division of Real Estate Bimonthly Update

March, 2023

For Division Interested Parties and Licensed Professionals

The Division of Real Estate's bimonthly email update is designed to provide Division news, information on upcoming public meetings, rulemaking hearings, and registration links for educational webinars. Additionally, licensed professionals can find updates on licensing deadlines, opportunities for stakeholder engagement, and important practice guidance matters.

2023 Colorado Real Estate Manual Survey
For Licensees and Interested Parties

Each year, the Division of Real Estate, through a partnership with LexisNexis, publishes the Colorado Real Estate Manual (the "Manual").  It is carefully developed with the assistance of members of the Colorado Real Estate Commission, the Board of Real Estate Appraisers, the Board of Mortgage Loan Originators, the Division of Real Estate staff, and input from licensees and other interested parties.   The Manual can be a valuable resource for new license applicants and practicing real estate brokers, appraisers, and mortgage professionals.  At this time, the Division wants to hear from you about the quality and content of the Manual.  Below, please find a link to a brief survey, only a few questions, which asks you about your experiences with the Manual. The survey will be open until March 31, 2023. Please submit your responses by this date.

Your feedback is very much appreciated and your answers will be treated confidentially.  Thank you for your time and consideration.

HOA Information & Resources Center

The second HOA Forum will be covering the sometimes complex relationships between Metro/Special Districts and Your Communities. Metro/special districts are different than Common Interest Communities, but many unit owners are subject to both. Join Nick Altmann, the HOA Information Officer, for a discussion on the relationship between these organizations on Friday, March 24, 2023 at 1:00 PM (MT).

On behalf of the HOA Information & Resource Center, we look forward to you joining us!

Announcements &
Meetings

HOA Forum:

Topic: Metro/Special Districts And How They Interact With Your Communities

• Fri. March 24, 2023, 1:00 p.m.
• Registration Link
• Copy to my calendar

Broker Practice Advisory: Unlicensed Access To Properties

It has been brought to the attention of the Division of Real Estate of a growing scam involving unlicensed individuals contacting listing agents in an attempt to gain access to properties. Usually, the unlicensed individual is impersonating an actual real estate licensee and is reaching out to the listing agent, likely by email or text, but also by telephone, to arrange a showing under the auspices that they encountered some type of “error or problem” with the showing service.

By attempting to obtain information from the listing agent or the listing agent’s staff, the unlicensed individual might be able to determine if the property is occupied or vacant and may be able to gain access to the property directly through the listing agent.  Some important considerations about this scam for real estate licensees to understand are:

• This practice may be used to access properties that are for sale or for rent.
• This practice may be used to access residential or commercial properties.
• The purposes for this fraudulent activity could be varied, but it poses a serious risk to physical safety and the property alike.

A best practice is that consumers (sellers, tenants) should be made aware of any scheduled showings in advance.  Furthermore, Colorado real estate licensees should be aware that as the listing agent, you should be sure to exercise due diligence.  Listing agents and their staff should take additional steps to identify the true identity of any party attempting to obtain information before providing any confidential information or instructions on accessing any property. 

The unlicensed individual’s behavior is designed to take advantage of professional courtesy of listing agents and their staff, which is a form of social engineering.  Social Engineering can be defined as the use of deception to manipulate into divulging confidential or personal information that may be used for fraudulent purposes. 

Activities such as this might be a precursor to wire fraud.  Accordingly, if you are the victim of, or witness suspicious activity, please contact your local authorities and the Colorado Bureau of Investigations.  For more information, please visit www.reportwirefraud.com. 

Colorado Division of Real Estate | 1560 Broadway, Suite 925, Denver, Co 80202 | Phone: (303) 894-2166 /(800) 886-7675 | Fax: (303) 894-2683 Email: dora_realestate_website@state.co.us

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