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Division of Real Estate Bimonthly Notification
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November, 2024
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License Renewal Season: November 1 - December 31, 2024
The Division of Real Estate license renewal period is November 1 - December 31, 2024 Expired licensees may not conduct any business that requires licensure.
Each license program varies based on state law, Board or Commission regulation, and, in some cases, federal law. Accordingly, reviewing the details of your specific program early will ensure that you are able to timely renew and not find yourself in an 11th hour rush to complete any required continuing education or submit documents to the Division. Every licensee should understand that if expired, they 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 Real Estate Appraisers (BOREA) Meeting:
Board of Mortgage Loan Originators (MLO) Meeting:
HOA Info & Resource Center Forum: Board Member Roles & Responsibilities
Colorado Real Estate Commission (CREC) Meeting:
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MLO Advisory:
CSBS Requests Licensees
Update NMLS Accounts Before November 1, 2024
As October 24,2024, 52% of state licensed mortgage loan originators have not updated their NMLS account. Updating their account today will save MLOs time during the renewal period. Since deployment, CSBS has been encouraging users to update their accounts by weekly targeted communication to all users, including MLOs, that have not updated their accounts and including this information in all renewal related communications.
NMLS enhancements completed in July introduced a new login process for NMLS users, including the ability to access multiple NMLS accounts using a single login. While these changes improve NMLS users’ experience, they must take steps to update their NMLS login credentials and consolidate their accounts.
NMLS users can visit the NMLS Enhancements page on the NMLS Resource Center or contact the NMLS Call Center at 1-855-665-7123 if they have questions.
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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, 2025, 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, 2025. Please be advised that a full E&O audit of Real Estate Brokers will take place in February, 2025 to ensure compliance with the E&O insurance requirement.
If you are renewing a policy that expires on January 1, 2025, you must purchase the renewal before January 31, 2024 and the policy must be effective January 1, 2025 to be considered compliant.
See program-specific details below:
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Appraiser License Renewal Applications - Due Before December 16, 2024
To ensure business continuity and avoid any license renewal delays, it is recommended to apply for license renewal as soon as possible and no later than December 16, 2024, to allow sufficient time for processing and to avoid a lapse in licensure.
Renewal applications received after December 16, 2024, and prior to January 31, 2025, may be subject to the following:
- An indication on the ASC’s appraiser license search website that the license has expired
- An audit of all 28 hours of continuing education completed during the license cycle
- A late renewal penalty fee
- Additional fines for any incomplete continuing education
Click the below link to renew your license:
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Follow the steps below for renewing your license:
- Answer questions and proceed through prompts by selecting Next until the option Add to Invoice appears at the bottom of the screen.
- After selecting the Add to Invoice button, the Payment Review screen will appear.
- Review your payment for the renewal fee.
- Select Pay Invoice.
- You will be directed to the payment portal to enter your payment information. Once the payment has been successfully submitted, then the license will be renewed and reflect the new effective cycle dates within the system.
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News Release - Colorado Real Estate Commission Revokes Real Estate Broker License By Final Agency Order
On October 16, 2024, the Director of the Division of Real Estate, Marcia Waters, executed a Final Agency Order for public censure, fines, and to revoke the license of JoLinda Wilson, License IL.40012621. The licensee operated as a real estate broker with a principal office address of 310 18th Street, Greeley, Colorado 80631.
The Colorado Real Estate Commission (the “Commission”) directed the Division of Real Estate (the “Division”), part of the Department of Regulatory Agencies (“DORA”), to conduct an investigation in response to complaints received by the Division. Upon finding evidence of license law violations by the licensee, case number RC 2024-0005 was filed in the Colorado Office of Administrative Courts on March 8, 2024. After an Initial Decision was issued by the Office of Administrative Courts on September 11, 2024, a Final Agency Order was issued.
In relevant part, the investigation revealed that Wilson listed a property, including land and certain water rights, for the price of $10,000,000.00. Subsequently, Wilson had the sellers and an interested buyer execute a Letter of Intent for the purchase of the Greeley property which required the payment of a $100,000.00 earnest money deposit to be held in a bank account controlled by Wilson. When the transaction did not close, the licensee did not return the earnest money deposit to the interested buyer. Instead, the licensee used a portion of the earnest money on personal expenditures.(Read More)
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HOA Forum: Board Member Roles & Responsibilities
What exactly does an HOA Board do? Is there a difference between the role of the Vice-President and the role of the Secretary? What about “officers” and how is the role of an officer different from the role of a board member or committee member? Finally, is it possible to remove these individuals from these roles? Both the Colorado Common Interest Ownership Act (“CCIOA”) and the Colorado Nonprofit Corporation Act have quite a lot to say about the duties and responsibilities of these various leadership positions one might find in a common interest community.
Please join the HOA Information Officer on Friday, November 22, 2024 at 1:00 pm (MT) for an educational presentation on these various types of leadership and management positions found in Colorado HOAs. All are welcome to attend.
Presentation Details:
- Date: Friday, November 22, 2023
- Time: 1:00 p.m. - 2:00 p.m. (MT)
- Location: Online Webinar Only
Register today!
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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
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HOA Advisory:
19 Questions Board Members Should Ask a
Potential Community Association Manager
The HOA Information and Resource Center commonly hears from HOA board members and unit owners concerned about how difficult it is to find qualified community association managers (“CAMs”). While organizations like the Community Association Institute (“CAI”) issue industry credentials for community association management, there is no state regulatory or licensing program for CAMs in Colorado.
As such, it can sometimes be challenging for boards to identify an experienced manager over a less experienced manager.
As a result, the HOA Information and Resource Center developed the following guide to help board members in their interviews with potential community managers. It is important to note that just because a potential manager may not be able to answer any particular question confidently or in its entirety, they should not be automatically disqualified. Rather, the questions are intended as a guide to spur conversation and to encourage open dialogue. While every association is unique, there are many similarities, so asking a few of these questions may help board members and unit owners better understand the challenges and successes of their own communities.
Additionally, boards may consider speaking with legal counsel prior to entering into any contracts as they can have important legal consequences for the community.
We hope, as a board, you find these questions linked below helpful in your search:
In closing, stay tuned for a corresponding guide for CAMs to prepare for meetings with a potential client.
-HOA Information and Resource Center-
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HOA Information and Resource Center’s Sunset Report Released
On October 15, 2024, the Colorado Office of Policy, Research & Regulatory Reform (“COPRRR”) released its Sunset Report on the HOA Information and Resource Center. COPRRR, a program housed in the Department of Regulatory Agencies (“DORA”), regularly conducts Sunrise Reviews of proposals to create new professional and occupational regulatory programs and Sunset Reviews of existing government programs to ensure they are necessary, fair, effective and efficient.
Throughout 2024, COPRRR diligently worked to conduct a comprehensive review of the HOA Information and Resources Center program and sought input from interested parties and stakeholders. These efforts culminated in the 2024 Sunset Review of the HOA Information and Resource Center. The Sunset Report and a quick reference Fact Sheet can be located in COPRRR’s Archive of Reviews.
Questions regarding the HOA Center’s Sunset Report should be directed to COPRRR. After you have reviewed the report, if you have concerns or suggestions, you might consider reaching out to your State Legislators. For everyone in the State of Colorado, you have one State Representative and one State Senator in the Capitol building in Denver. The Colorado General Assembly has created an excellent resource to identify who your current legislators are and help you reach out to them to share your concerns. Here is the tool:
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The Division of Real Estate makes an effort to have all public meetings and educational opportunities live and accessible to the public by signing up for a webcast.
Find the meeting or event you want to attend on the Division Calendar, click on the “more details” and follow the directions to sign up for the webcast.
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Have you checked out our YouTube channel yet? You can find webinar recordings, educational videos, bite-sized advisory videos and watch various LIVE hearings and board & commission meetings.
Watch & Subscribe at @DORADivisionRealEstate and never miss our most current content!
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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.
- September 27, 2024: HOA Information & Resource Center Forum: Presentar Una Queja de HOA /File an HOA Complaint (Presented in Spanish)
Webinar - Video
- October 1, 2024: Colorado Real Estate Commission (CREC) Meeting:
Webinar - Video
- October 25, 2024: HOA Information & Resource Center Forum: HOA Budgets
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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