DENVER, COLORADO-On May 14, 2024, the Colorado Real Estate Commission (the “Commission”) entered into a Stipulation and Final Agency Order with licensee Ellie Pricillic Reimer, License Number FA.100038970, for license surrender, fines, and public censure. Division of Real Estate investigators conducted a detailed investigation and found evidence of misconduct and license law violations by the licensee. The licensee operated a property management business under the name Aerowood Property Management, LLC.
The registered principal office address of Aerowood Property Management, LLC, License IC.100067484, is 6855 South Dayton St., Ste. 5294, Greenwood Village, Colorado 80112, and its registered agent on file with the Colorado Secretary of State is Ellie Reimer, with a registered agent address of 18555 East Smoky Hill Road, Box 462672, Centennial, Colorado 80015.
Investigators with the Division of Real Estate (“Division”), part of the Department of Regulatory Agencies (“DORA”), received complaints and concerns from property owners that had engaged the services of Ellie Reimer and Aerowood Property Management to manage their properties. After the Division’s thorough investigation of the facts, the Commission found that objective and reasonable grounds existed to believe that Ellie Reimer disregarded or violated license law and rules with regard to:
- Trust or escrow accounts for funds belonging to others
- Diversion and conversion of funds belonging to others
- Comingling of funds belonging to others
- Recordkeeping requirements
- Maintenance and production of reports to beneficiaries
- Production of documents and records
- Investigations of audits by the Commission
As a result of the Division’s investigation, the licensee has stipulated to relinquish their license, and the Commission as agreed to accept the relinquishment effective immediately. Ellie Reimer is not allowed to perform any duties requiring a real estate license.
Responding to the Stipulation and Final Agency Order, Marcia Waters, the Director of the Division stated that "the Real Estate Commission has strict requirements for how real estate brokers and real estate companies handle the funds of others. In addition to keeping monies in an escrow account, real estate brokers cannot use those monies for anything other than approved client expenses. Under no circumstances can client funds be used for the broker's own personal gain."
The Division of Real Estate has limited jurisdiction in these matters and is statutorily mandated to enforce license law against real estate licensees. The Division is unable to divulge any information concerning an investigation and investigative files in the possession of the Division. Any such files are closed to public inspection. Furthermore, the Division does not have any authority or power to seek civil restitution for any damages or monies on behalf of consumers.
If you believe that you have been victim of any wrongdoing by these entities, the Division of Real Estate encourages you to contact one or both of the following entities:
- A Licensed Colorado Attorney for Legal Advice. The Colorado Bar Association has an attorney search tool named “Licensed Lawyer” which can be used to look-up Colorado attorneys on their website at: cobar.org, or the Colorado Bar Association can be contacted by telephone by calling (303) 860-1115.
- Local Law Enforcement. The local law enforcement agency where your property is located or where you are renting.
About the Division of Real Estate:
The Division of Real Estate is the state licensing, regulation and enforcement agency for the real estate broker, appraiser and mortgage loan originator industries.
About DORA:
DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit dora.colorado.gov for more information or call 303-894-7855 / toll free 1-800-886-7675.