Marcia Waters has been with the Colorado Division of Real Estate since August 2005. Ms. Waters started with the Division as a Criminal Investigator for the Real Estate Commission and was promoted to Chief Investigator in 2006. In 2007, she was promoted to the position of Investigations and Compliance Director. In that capacity, she managed the investigatory and settlement programs for the Division. On October 15, 2010, she was promoted to the position of Division Director. The Division of Real Estate licenses and regulates approximately 70,000 real estate professionals. Ms. Waters serves as the administrator for the Real Estate Commission, the Board of Real Estate Appraisers, the Board of Mortgage Loan Originators, and the HOA Information and Resource Center.

Ms. Waters manages the Division’s approximately $9.0 million budget, oversees a staff of approximately 60 full-time employees, and establishes the direction of Division programs based on market and industry trends.

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 renew in a timely manner and not find yourself in a last-minute rush to complete any required continuing education or submit documents to the Division. Every licensee needs to understand that if expired, they may not conduct any business that requires licensure.

Important Note for Inactive Licenses: Even if your license is on an inactive status, you must still renew your license if you wish to maintain the inactive status and avoid applicable reinstatement fees.

For more information on your license program, please visit:

Office of Legislative Legal Services Releases 2026 Laws

After the end of the Legislative Session each year, the Office of Legislative Legal Services incorporates all the bills that became law during the legislative session into the Colorado Revised Statutes. Comprising all 44 Titles of the Colorado Revised Statutes, this arduous task culminates in the release of the 2026 version of the Colorado Revised Statutes. 

As licensees, you are responsible for knowing the current laws that affect your real estate practice.  Therefore, if you would like to review them, you might consider visiting Colorado’s Annotated Statutes, presented by LexisNexis.

Alternatively, if you are seeking a larger portion of the law, such as an entire practice act, an entire Article, or an entire Title, you might consider downloading it directly in .pdf or .docx formats from the Colorado Office of Legislative Legal Services.

At the August 4, 2026, Colorado Real Estate Commission meeting, the Commission approved several Real Estate Commission Position Statements that all real estate brokers should review. The following position statements were updated:

1. Commission Position 1-Contracts provided by Principals Selling Real Property
2. Commission Position 5-Interest Bearing Trust or Escrow Accounts
3. Commission Position 7-Assigning Listing Contracts, Relationships and Commissions
4. Commission Position 13-Office Policy Manuals
5. Commission Position 15–Leasing and Property Management
6. Commission Position 17-Single Agent vs. Transaction-Broker
7. Commission Position 20-Licensed and Unlicensed Real Estate Administrative Professionals (“REAPs”)
8. Commission Position 22-Conflicts of Interest
9. Commission Position 26-Creating Barriers to Access
10. Commission Position 29–Holding Money Belonging to Others for Activities Not Involving Real Estate Brokerage Services
11. Commission Position 31-Management of Confidential Client Information By An Employing Broker

All licensees should review these important changes. If you have any questions regarding these or other position statements, please consult with your employing broker, compliance officer, or an attorney licensed to practice law in the State of Colorado.

Commission Position Statements offer important practice-related guidance to real estate practitioners but are not law. Position Statements should be interpreted as non-binding direction of relevant laws and regulations, including but not limited to the Real Estate Broker Practice Act and the Colorado Real Estate Commission Rules. To review all the position statements, visit the Real Estate Manual, Program Rules and Position Statements webpage on the Division's website.

Elimination of Self-Reporting for Education Deficiencies and Updated Compliance Requirements

It is already October. As temperatures cool and leaves change color, the Division of Real Estate is busy preparing for license renewal season. That also means that renewing licensees need to take a moment and determine their compliance with all requirements for renewal.  One of the most important renewal requirements relates to continuing education: all Colorado real estate brokers must fully satisfy their continuing education requirements prior to renewing, activating, or reinstating their license.

On August 4, 2026, the Colorado Real Estate Commission modified the rule that allowed brokers to self-report an education deficiency and request makeup coursework.  This rule has been repealed, and self-reporting is no longer allowed. Specifically, Commission Rule 4.2 was modified as discussed below:

Approved Options to Satisfy Education Requirements (Rule 4.2)

Brokers are primarily expected to complete the continuing education requirements set forth in the first option discussed below. However, if any required coursework was missed, education requirements must be satisfied by completing one of the alternative options (options 2, 3, or 4) before submitting their license renewal:

1. Standard Continuing Education: Complete 24 total hours, which must include 3 different versions of the Annual Commission Update (ACU) course for a total of 12 credit hours, plus an additional 12 credit hours of Commission-approved electives. (Note: A broker cannot receive credit for taking the same version of the ACU course more than once).
   
   
2. Broker Reactivation Course: Complete the Commission-approved 24-hour Broker Reactivation Course. This option is only available under specific conditions:
       - The license is currently Active, and the Reactivation course was not used to satisfy requirements in the previous licensing cycle; OR
   
       - The license has been Inactive or Expired for a period of up to 36 months prior to activating/reinstating to Active status, and the broker cannot meet the standard 24-hour requirement.
   
   
3. Licensing Exam: Pass the Colorado portion of the Real Estate Licensing Exam.
   
   
4. Pre-Licensing Coursework: Complete 72 total hours of pre-licensing coursework including the 48 hours of “Colorado Real Estate Contracts" coursework and 24 hours in "Real Estate Closings".

Important Upcoming Deadlines & Reminders

• Completion of any of the options identified above must be completed during the current license cycle and before attempting to renew. You cannot attest to completion if the requirements are unmet.
  
  
• New ACU Timeline (Starting 2027): Beginning in 2027, the Annual Commission Update (ACU) course will only be available through July 1 and must be completed by that date.

This year, the audit process has changed.  Appraisers who have renewed their license in previous cycles may recall satisfying the requirement to submit proof of completion of the 7-hour USPAP course.  While that process remains unchanged, changes to the Real Estate Appraiser Criteria and Board Rules now also require the completion of a Valuation Bias and Fair Housing Laws and Regulations course (“VB-FH”) as a condition of license renewal.  For your renewal to be available in the Division's licensing management system, compliance with the USPAP and VB-FH audits is required.

There is still time to take these essential continuing education courses before the end of your current license cycle but first notices of the audit have already been delivered via email to all renewing appraiser licensees. If your appraisal license expires on December 31, 2026, and you have not received notification from the Division regarding how to comply with the audit, please contact the Division’s Appraisal Program immediately at the following email address: DORA_DRE_Appraisals@state.co.us

Time is of the essence! Failure to submit proof of compliance with the USPAP course and the VB-FH course requirement and renewal by 5:00 pm MT on Friday, December 11, 2026, may result in the following:

1. An indication on the Appraisal Sub-Committee’s appraiser license search website that the license has expired
2. An audit of all 28 hours of continuing education completed during the license cycle
3. A late renewal penalty fee
4. Additional fines for any incomplete continuing education

All other continuing education requirements for renewal must be completed by December 31, 2026. 

October HOA Forum:
Asphalt Paving and Road Maintenance Strategies in Your Community

Join us for our upcoming monthly HOA Forum focusing on essential maintenance strategies and financial planning for Colorado common-interest communities.

When it comes to reserve planning, pavement maintenance is an area where Colorado HOA boards frequently encounter unexpected costs and shortened lifespans.

Mike McGurin is the owner/operator of MD Asphalt Co., a family-owned commercial asphalt and concrete contractor based in Fort Lupton, Colorado.

Key discussion topics in this HOA Forum will include:

• What a pavement reserve schedule should account for versus common assumptions;
• How local climate cycles shorten asphalt pavement life - and what to do about it;
• How to identify when preventative maintenance is appropriate versus when pavement replacement is warranted;
• How standard snow-plowing practices can quietly damage asphalt over time—and how to prevent it;
• Understanding the difference between mill & overlay and full-depth remove & replace—and when each approach makes sense.

This educational presentation will provide attendees with actionable insight into realistic reserve budgeting, preventative maintenance, and protecting community infrastructure - using real cost data from local Colorado projects.

All are welcome to attend.

Presentation Details: 

• Date: Friday, October 23, 2026
• Time: 1:00 p.m. - 2:00 p.m. (MT)
• Location: Online Webinar Only

Quarterly Discipline

This serves to inform the public of the current and/or most recent disciplinary action taken against the individuals listed. It does not, nor should it be intended to, serve as a complete listing of any and all discipline taken against the individual licensees. 

2026 Disciplinary Actions and License Relinquishments Spreadsheet

Find the program you want to view by toggling through the tabs at the bottom of the spreadsheet.

To obtain a complete public disciplinary history for a specific licensee, visit the Division's Records Management System and search a licensee's personal record by name or license number.