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Division of Real Estate Bimonthly Notification
October, 2023
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License Renewal Season Starts November 1, 2023
The Division of Real Estate license renewal period starts November 1, 2023 and continues through December 31, 2023. Expired licensees may not conduct any business that requires licensure. If your license is on an inactive status, you must still renew your license if you wish to maintain the inactive status and avoid any applicable reinstatement fees.
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Announcements & Upcoming Meetings:
HOA Info & Resource Center Forum:
Colorado Real Estate Commission (CREC) Meeting:
Board of Real Estate Appraisers (BOREA) Meeting:
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Appraisal USPAP and Continuing Education Audit
The Division of Real Estate wants to take this opportunity to remind all active licensed and certified appraisers of their continuing education requirements.
A. The 7-hour USPAP course must be taken before the renewal is activated. Appraiser licensees will receive an email with detailed instructions for USPAP submission once the audit has been opened. This process will begin on October 1st, 2023.
If you have any questions about the audit process, please contact the Division by email at dora_dre_appraisals@state.co.us.
It is recommended that licensees complete their USPAP audit submission as soon as possible, but no later than December 15, 2022, to allow sufficient time for processing and avoid a lapse in licensure. Renewal applications received after Friday, December 15, 2023, and prior to January 31, 2023, may be subject to the following:
- An indication on the Appraisal Sub-Committee (“ASC”) website that the license has expired (license will show inactive on the ASC's licensee search)
- An audit of all 28 hours of continuing education required during the license cycle
- Fines for any incomplete continuing education
- Penalty fees for license reinstatement if the CE certificate review moves beyond the January 31 renewal submission deadline
B. All other continuing education requirements for renewing licensees must be completed by December 31, 2023.
C. For all licensees, you might consider visiting the Appraiser Continuing Education Page linked below to review all approved continuing education courses, including the 7-hour USPAP course.
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From time to time, the Division of Real Estate receives information and requests from our affiliated agencies in state government. Please review the following messages below from our regulatory partners related to the practice of real estate.
Please find the DOI announcement below:
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DOI Seeking To Fill Two Positions On Colorado Title Insurance Commission (TIC)
The Colorado Division of Insurance is seeking two applicants to fill two positions on the Colorado Title Insurance Commission (TIC). The TIC consists of nine members appointed by the Governor, including three title insurance company employees, three resident title insurance agent employees, and three residents representing the public-at-large. All members are eligible to serve for a maximum of two consecutive four-year terms. The commission meets at least four times per year. Two TIC representative positions will become available in November 2023. The Division seeks applicants possessing the following qualifications to fill these upcoming vacancies.
Two TIC representative positions will become available in November 2023. The Division seeks applicants possessing the following qualifications to fill these upcoming vacancies.
- A licensed employee of a title insurance company that has net admitted assets of $500,000,000 or more. The company representative shall not have less than five years’ experience in title insurance business.
- A Colorado-licensed, resident title insurance agent who is an employee of a licensed title insurance agent. The individual shall not have less than five years of experience in the title insurance business in Colorado.
The TIC’s duties include proposing, advising, and recommending rules for the administration of the business of title insurance, subject to approval by the Colorado Insurance Commissioner. Participation on the Commission offers a meaningful opportunity to help your community and gain valuable public service experience.
If you are interested in applying, please use the button below for the Boards and Commissions application website. Once on that website, select “Title Insurance Commission.”
Learn more about the TIC - its structure and activities - by visiting the Title Insurance for Industry website via the button below.
If you have any questions about this vacancy or the TIC, please contact Steve Giampaolo at stevena.giampaolo@state.co.us.
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Please find the DPO announcement below:
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State Laws More Stringent Than New Lender Guidance
A new multi-family radon policy was instituted on July 1, 2023 by lenders Fannie Mae and Freddie Mac, the Government Sponsored Enterprises (GSEs) overseen by the Federal Housing
Finance Agency (FHFA). This policy is less stringent than requirements adopted by Colorado’s Office of Radon Professionals, which follows protocols set forth by the American Association of Radon Scientists and Technologists (AARST).
The Office wants its licensees and lenders to be aware that Colorado requires compliance with AARST standards even when a lender’s requirements conflict. This means that full compliance with all applicable state and local laws governing radon testing and mitigation are required, even when the lender’s policy is more lenient.
Some of the major differences:
- The guidance doesn’t require licensed radon professionals conduct the testing
- The guidance only calls for testing of 25 percent of ground floor units, which doesn’t meet current ANSI/AARST protocols.
- The guidance doesn’t call for any testing on floors above the ground level, which also doesn’t meet current ANSI/AARST protocols.
Additional information regarding the radon statutes and regulations can be found here. Please address any questions to dora_directormodelprograms@state.co.us.
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HOA Forum 9/29/2023:
Attorney Perspectives- Board Member Rights and Responsibilities In Colorado
Are you a board member and curious about HOA law? Do you have a difficult board meeting coming up and looking for tips/strategies on how to manage it? Maybe you are looking for ways to motivate your fellow board members and better engage your community. Please join the HOA Information Officer and special guest Moeller Graf, a Colorado law firm, for a live presentation and Q&A session on board members' rights and responsibilities under the Colorado Common Interest Ownership Act (“CCIOA”).
There is still time to register for Friday's webinar - register now!
Do you have a question you would like to submit ahead of time? Please send it to DORA_DRE_hoainquiries@state.co.us with "September HOA Forum Question" in the Subject line.
Presentation Details:
- Date: Friday, September 29, 2023
- Time: 1:00 p.m. - 2:00 p.m. (MT)
- Location: Online Webinar Only
All are welcome to attend.
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-HOA Information & Resource Center-
Note: If you are unable to attend, the HOA Information & Resource Center posts a recording of the webinar within a few days following the presentation at the following link: https://dre.colorado.gov/recent-hoa-forums
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Life is Busy - We Get It!
Did you miss any of our meetings or forums last month? No need to worry! You can click the links below to catch up and stay current with what is going on at the Division of Real Estate.
- August 18, 2023: HOA Forum: Attorney Perspectives - Homeowners' Rights and Legal Proceedings in Colorado
Webinar - Video
- September 7, 2023: Board of Real Estate Appraisers (BOREA) Meeting:
Webinar - Video
- September 20, 2023: Board of Mortgage Loan Originators (MLO)
Meeting:
Webinar - Video
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For Division Interested Parties and Licensed Professionals
The Division of Real Estate's bimonthly email 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.
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Colorado Division of Real Estate
1560 Broadway, Ste. 925 | Denver, Co 80202
Phone: (303) 894-2166 /(800) 886-7675 | Fax: (303) 894-2683
Email: dora_realestate_website@state.co.us |
Subscriber Services:
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