Division Notifications

Rice Insurance Service Centers (RISC) Article - Colorado Electronic Counteroffers

Rice Insurance Services Center (RISC), a division of AssuredPartners NL, LLC, administers the Colorado Real Estate Commission’s group real estate errors and omissions policy. We manage claims made against Colorado real estate brokers, giving us insight into current issues brokers face. Recently, we have seen a trend in claims relating to electronic counteroffers.

Real Estate Fraud Alert: A Real Estate Broker and Consumer Advisory

The Division of Real Estate has been made aware of a real estate scam in Colorado that is taking advantage of potential buyers and their real estate brokers involving properties being marketed for sale as For Sale By Owner (“FSBO”).

New HOA Information Officer has been Announced

The Division of Real Estate would like to announce that David L. Donnelly is the new HOA Information Officer and will be heading up the HOA Information and Resource Center starting at the beginning of April.

Practical Guidance Advisory on Board Rule 5.1: Appraiser Experience Requirements

The Board of Real Estate Appraisers held a rulemaking hearing on March 3, 2022, and adopted a change to Board Rule 5.1 concerning the real estate appraisal experience requirements. The revised rule will be effective April 30, 2022.

January 2022 Bimonthly Update

The Division of Real Estate bimonthly email update is designed to provide Division news, information on upcoming public meetings, rulemaking hearings, and registration links for education webinars. Additionally, licensed professionals can find updates on licensing deadlines, opportunities for stakeholder engagement, and important practice guidance matters.

The Fall 2021 Real Estate News

The Division of Real Estate is excited to release the Fall 2021 Real Estate News online quarterly newsletter. This online publication provides the public access to the Division’s meetings and event calendar, program disciplinary actions, updates on important matters, and timely articles written by Division staff and outside contributors in the real estate industry.

Fall 2021 Real Estate News

Adopted Changes to Colorado Real Estate Commission Rules & Subdivision Rules (Effective November 30, 2021)

Real Estate Broker Rulemaking Update

On October 5, 2021, the Colorado Real Estate Commission held a permanent rulemaking hearing and adopted some changes to the Rules Governing Real Estate Brokers, to be effective on November 30, 2021.

Highlights of the adopted changes include:

Refusing to Present Offers to Sellers

The Division continues to receive complaints by prospective buyers and their buyer’s brokers that some listing brokers are not presenting buyer’s offers to the seller. An additional complaint is that those listing brokers are refusing to present offers to their sellers unless a particular contract software is being used.

Allocation of Insurance Deductibles

In our recent article titled “Water Damage: Who’s Responsible?”, we discuss the issues involved in determining responsibility when water damage occurs in a unit within a homeowners association. Another consideration when dealing with water damage in an HOA is who is responsible for the insurance deductible. Generally, if damage to an insured property is less than the amount of the insurance deductible, then the insured would likely not file a claim, as there would be no insurance payout. However, for many associations, the cost of water damage frequently exceeds the amount of the insured’s deductible. When that occurs, the parties involved need to know who will be responsible for paying the deductible.

HB21-1310: HOA Regulation of Flags and Signs

If you’ve been following this year’s legislative session, you’ve undoubtedly heard of HB21-1310. Its stated purpose is to provide additional protections for homeowner’s freedom of expression in an HOA under the Colorado Common Interest Ownership Act (“CCIOA”).