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Division of Real Estate Bimonthly Update
November, 2023
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Board of Real Estate Appraiser Rules Effective January 1, 2024
On November 2, 2023, the Colorado Board of Real Estate Appraisers (“Board”) held a rulemaking hearing to update and adopt rules for real estate appraisers and appraisal management companies based upon the mandatory rule review required by Senate Bill 14-063 (Mandatory Review of State Agency Rules). The Division of Real Estate (“Division”) initiated the rule review on behalf of the Board to assess the continuing need for, appropriateness and cost effectiveness of the administrative rules. It also assessed whether the rules should be continued in their current form, amended or repealed.(Read More)
License Renewal Season: November 1 - December 31, 2023
The Division of Real Estate license renewal period started 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:
Board of Mortgage Loan Originators (MLO) Meeting:
HOA Info & Resource Center Forum:
HB23-1105 HOA Homeowner's Rights Task Force Public Meeting:
Colorado Real Estate Commission (CREC) Meeting:
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Metropolitan District Homeowners' Rights Task Force Public Engagement Tool
In addition to the HOA Homeowners’ Rights Task Force, House Bill 23-1105, created a second and equally important Metropolitan District Homeowners’ Rights Task Force. The Department of Regulatory Agencies ("DORA") and the Division of Real Estate (“DRE”) have launched a tool to collect public comments and to provide important updates on Task Force meetings and reports.
You can contribute to the Task Force and provide input for their consideration. DORA and DRE are committed to collecting questions, comments, stories, and recommendations from interested parties, including homeowners, residents, experts, industry professionals, and other stakeholders affected by, living in, or working in metropolitan districts across the State of Colorado.
The Division will regularly update this tool so please consider checking back frequently, even if you have already taken a survey or provided other input. You can access the tool at the following link:
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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.
The 7-hour USPAP course must be taken before the renewal is activated. Appraiser licensees should have received an email with detailed instructions for USPAP submission. This process began on October 1st, 2023.
It is recommended that licensees complete their USPAP audit submission as soon as possible, but no later than December 15, 2023, to allow sufficient time for processing and avoid a lapse in licensure.
(Read More)
If you have any questions about the audit process, please contact the Division by email at dora_dre_appraisals@state.co.us.
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Errors & Omissions Insurance Policy Renewal Reminder
The Division would like to notify all active licensees that many Errors & Omissions ("E&O") policies are set to expire on January 1, 2024, please review important renewal information prepared by the state contracted E&O carrier, Rice Insurance Services Center (RISC).
Most E&O policies expire on January 1, 2024. Please be advised that a full E&O audit of Real Estate Brokers will take place in February, 2024 to ensure compliance with the E&O insurance requirement.
If you are renewing a policy that expires on January 1, 2024, you must purchase the renewal before January 31, 2024 and the policy must be effective January 1, 2024 to be considered compliant.
See program-specific details below:
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House Bill 23-1105:
HOA Homeowners' Rights Task Force Meeting
The HOA Homeowners’ Rights Task Force, which was created by House Bill 23-1105, will hold it's second public meeting via Webinar on Tuesday, November 21, 2023 from 1:00 P.M. until 4:00 P.M. (MT). The HOA Homeowners' Rights Task Force is created in the Department of Regulatory Agencies by section 24-34-101(1)(a), C.R.S. to examine issues confronting communities that are governed by the executive board of an association. (Read More)
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HOA Forum: Public Policy Prohibitions: Is Your HOA Prohibited from Enforcing Certain Activities?
Have you ever wondered if you are allowed to display a flag in your unit window? Maybe your neighbor drives a work truck which is regularly parked in the guest parking area and you are not sure if that is allowed. What about a daycare center business operated out of a unit owner’s home? Homeowner freedoms can occasionally clash with board member’s designs so a careful review of applicable law will help community members live in harmony.
On Friday, November 17, 2023 at 1:00 pm (MT), join the HOA Information Officer for a live webinar discussion on what may and what may not be enforced in your association under the Colorado Common Interest Ownership Act (“CCIOA”).
Presentation Details:
- Date: Friday, November 17, 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-
In addition, we are pleased to announce that a recording of this presentation will also be available for our Spanish speaking audience the same day at https://dre.colorado.gov/recent-hoa-forums
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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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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