Division of Real Estate Bimonthly Notification, December 2023

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Division of Real Estate Bimonthly Notification

December, 2023

USPAP Audit and Renewal

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 National USPAP Continuing Education Course must be completed during every two (2) year licensing period. A 7-hour USPAP certificate must be submitted to the Division prior to initiating the renewal of an appraiser license and must show a completion date between January 1, 2022, and December 31, 2023 (any version of USPAP offered during this timeframe is acceptable).

Appraiser licensees should have received an email with detailed instructions for the USPAP submission. To date, the Division has received the USPAP certificate from approximately 65% of the eligible renewing appraisers. The Division records indicate there are 630 appraisers who need to submit their 7-hour USPAP certificate prior to renewing their license. 

If you have any questions about the audit process, please contact the Division by email at dora_dre_appraisals@state.co.us.

Announcements & Upcoming Meetings:

It is recommended that licensees complete their USPAP audit submission as soon as possible, but no later than December 15, 2023, to allow enough 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 Subcommittee’s National Registry of Appraisers that the license has expired (the license will show inactive on the National Registry licensee search);
• An audit of all 28 hours of continuing education required during the license cycle;
• Fines and makeup education for any licensee who is deficient in their continuing education; and
• Additional 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.

License Renewal Season  Ends December 31, 2023 The Division of Real Estate license renewal period is currently open 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.

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:

Metropolitan District Homeowners’ Rights Task Force - December Meeting The Metropolitan District Homeowners’ Rights Task Force, created by HB23-1105, will hold a public meeting via Webinar on December 5, 2023 at 2:00 P.M. (MT). The Metropolitan District 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 a Metropolitan District. Interested parties should register for the meeting at the following link:

Please note that registration in the Zoom Platform is limited. You may also view the meeting live on the Division of Real Estate's YouTube.com channel:

The agenda for the Task Force meeting can be reviewed here:

In anticipation of the meeting, stakeholders and interested parties are encouraged to submit public comment to:

On behalf of the Metropolitan District Homeowners' Rights Task Force, thank you for your interest in HB23-1105.

HOA Forum: HOA Budgets With the end of the calendar year, it is time for many Common Interest Communities to consider their budgets for the next year. While many associations hold their budget meeting at the same time as an annual unit owner’ meeting, not all do. Either way, in preparation of your community’s budget process, you are invited to join the HOA Information Officer to learn more about what the Colorado Common Interest Ownership Act (“CCIOA”) says about budgets and the budgeting process.  On Friday, December 15, 2023 at 1:00 pm (MT), join the HOA Information Officer for a live webinar discussion.  All are welcome to attend. Presentation Details:  Date: Friday, December 15, 2023 Time: 1:00 p.m. - 2:00 p.m. (MT) Location: Online Webinar Only Register today!

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

-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

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.

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

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