Broker Advisory

Understanding Competency in the Real Estate Broker Industry

Competency is a notion that many people can apply to others, but it might be hard to apply to themselves. It might be harder still for us to apply it to our own professions, whether we have been practicing for just a few months or even several years. Nevertheless, this self-reflection is important for a real estate licensee. Having the competency to properly advise and guide your client in order to protect their client’s interests is an important requirement for all licensees.

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Broker Practice Advisory: SB23-206 and Changes to the Commission Approved Contracts

On August 7, 2023, SB23-206 Concerning Information about Radon in Residential Real Property Transactions, goes into effect. ****IMMEDIATE ATTENTION REQUIRED****

Read more about Broker Practice Advisory: SB23-206 and Changes to the Commission Approved Contracts

2023 Legislative Summaries For Licensees

The Colorado General Assembly Legislative Session adjourned on May 9, 2023. During the session, many new bills directly or indirectly affecting real estate and the practice of real estate were passed and became law. Understanding these laws, whether you are a real estate professional or simply an interested member of the public, may be helpful. The Division of Real Estate has prepared the following legislative summaries to aid you in better understanding the latest changes. Final language of these acts and other information about the Colorado General Assembly can be found on the Colorado General Assembly’s website at: https://leg.colorado.gov/

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May 26, 2023:Ensuring That Your Trust/Escrow Accounts Are Treated As Fiduciary Accounts

The Division of Real Estate has been receiving ongoing questions and concerns from both real estate brokers as well as financial institutions regarding the requirements for real estate brokers engaging in property management or holding money belonging to others to establish a trust or escrow account.

Read more about May 26, 2023:Ensuring That Your Trust/Escrow Accounts Are Treated As Fiduciary Accounts

May 15, 2023: Broker Practice Advisory - Fraudulent Sellers

From time to time, the Division of Real Estate receives reports of scams or potential scams. Today, the Division would like to revisit an issue that can happen all across the state. While these scams can take place in single family homes and condominiums, they most commonly seem to take place on vacant, raw, or undeveloped land.

Read more about May 15, 2023: Broker Practice Advisory - Fraudulent Sellers

March 8, 2023: Broker Practice Advisory: Unlicensed Access To Properties

It has been brought to the attention of the Division of Real Estate of a growing scam involving unlicensed individuals contacting listing agents in an attempt to gain access to properties. Usually, the unlicensed individual is impersonating an actual real estate licensee and is reaching out to the listing agent, likely by email or text, but also by telephone, to arrange a showing under the auspices that they encountered some type of “error or problem” with the showing service.

Read more about March 8, 2023: Broker Practice Advisory: Unlicensed Access To Properties

Real Estate Broker Safety

Now that the summer home-buying season is underway, real estate brokers should take heed of safety measures for themselves, as well as for their clients. In addition to any COVID-19 health department protocols that may exist in any particular county, there are other measures that can help ensure one’s safety.

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Recognizing Discrimination in Housing

Colorado has been at the forefront when it comes to enacting fair housing laws, in fact prohibiting discrimination in housing as far back as 1959, years before the federal Fair Housing Act became law. These laws were established to make sure that everyone has the same opportunity and access to choosing where they want to live and the type of housing that they desire.

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Real Estate Broker Safety

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The What, Why, and Risks of Using Lockboxes

In this second advisory of the series, we discuss the types, use, risks, and some best practices involved with using lockboxes for accessing a seller’s property. We also touch on some real life examples of lockbox violations that can bring a real estate broker before the Real Estate Commission for discipline.

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Understanding Competency in the Real Estate Broker Industry

Broker Practice Advisory: SB23-206 and Changes to the Commission Approved Contracts

2023 Legislative Summaries For Licensees

May 26, 2023:Ensuring That Your Trust/Escrow Accounts Are Treated As Fiduciary Accounts

May 15, 2023: Broker Practice Advisory - Fraudulent Sellers

March 8, 2023: Broker Practice Advisory: Unlicensed Access To Properties

Real Estate Broker Safety

Recognizing Discrimination in Housing

Real Estate Broker Safety

The What, Why, and Risks of Using Lockboxes

The Colorado Division of Real Estate

More about the Division