The Real Estate News
Winter, 2023
Colorado Division of Real Estate
Stay Up To Date With Us!
Division Meetings and Events Calendar
Sign up for a webcast
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 calendar, click on the “more details” and follow the directions to sign up for the webcast.
Attend an HOA Forum
The HOA Information & Resource Center offers free webinars on a variety of topics throughout the year. Learn about helpful resources and join in the conversation about your rights and obligations while living in an HOA community. Topics and locations change monthly.
The Director's Corner
Accuracy of Property Data in
Advertisements, including Property Databases
Commission Rule 6.10.C states that brokerage firms and brokers are responsible for ensuring that all advertising is accurate and complies with copyright laws and other applicable laws and regulations. This includes the information about a property that is entered into a property database like a multiple listing service (“MLS”). If a broker relies on an assistant to create advertising materials, or to enter the property data into the MLS on their behalf, the broker is still responsible for the accuracy of the information.
New Mortgage Loan Originator Handbook
From time to time, the Division shares practice guidance handbooks for practitioners of regulated industries to help advance their careers. With the new year, the Division would like to present the New Mortgage Loan Originator Handbook.
Like other handbooks, this handbook is carefully designed to provide basic compliance requirements and provide the practitioner key resources and tools. The handbook also addresses how mortgage loan originators can participate in the regulatory framework.
Download the New Mortgage Loan Originator Handbook
Division Updates & Notes
New Year, New Forms!
Each year, the Colorado Real Estate Commission ("CREC") reviews the forms approved for use by licensees. As of January 1, 2023, new forms are available on the Division of Real Estate's website for review, download, and use. Review the changes in the redlined forms provided for educational purposes on the right-side of the webpage and find the updated clean versions in the expandable menus on the left-side of the webpage.
2023 Annual Commission Update
Rule 4.3 of the Colorado Real Estate Commission Rules imposes a requirement that each licensee must complete the Annual Commission Update ("ACU") each year. This year's course describes the many changes to license law and rule changes and discusses many exciting changes at the Division of Real Estate in the year to come.
The course is now available for all licensees to take but it must be taken through an approved course provider. Visit the Division of Real Estate's website below to view the approved course providers now.
Colorado Division of Water Resources Introduces the eForm Dashboard
Real estate licensees should be aware that the Colorado Division of Water Resources has released a new eForm tool which is an online system that replaces the paper or email submission to change the owner's name and contact information as listed in the State's water well database. The Division of Water Resources released the eForm on August 1, 2022 and discontinued accepting the old version of the name change form on October 1, 2022.
There are different versions of the name change eForm, depending on who is filing the form. One version is for use by the well owner, and the other is for use by title companies that are filing as part of a real estate transaction. Only one version of the eForm needs to be filed (either by the well owner or the title company). The eForms can be accessed from the eForm Dashboard on the Division of Water Resources website at this link.
Review the Guide to Change Owner Name/Contact Information on Well Permits Here
The 2023 Colorado Real Estate Manual Is Here, Get Yours Today
The Colorado Unabridged Version of the Colorado Real Estate Manual is available for purchase through the publisher, LexisNexis. Each order for the print version comes with an eBook download at no additional charge. The eBook allows you to carry the manual with you without any added weight but all of the benefits of a searchable digital manual for quick access to information, statutes, rules, and position statements for the real estate industry.
Consumer Connections
Colorado General Assembly Announcement
On January 9, 2023, the Colorado General Assembly convened the seventy-fourth (74th) General Assembly. You can follow the legislative process yourself by visiting the Colorado General Assembly's website. Learn about your legislators, listen or watch the legislative process, or follow specific bills yourself as the bills work their way through the legislative process.
Visit the Colorado General Assembly Website Here
Long Term Rental Requirements In Denver County
Those of you that rent properties in Denver County should already be familiar with short-term rental regulations and license requirements. Denver County is not the only local government that has ordinances that pertain to short-term rentals either. Whether you are a landlord or a real estate practitioner, you will benefit from reviewing and understanding your local laws.
After you get a grasp of short-term rental laws, Denver landlords and real estate practitioners must also familiarize themselves with the newly implemented long-term rental laws which are taking effect in two different phases.
The first phase is effective on January 1, 2023 and applies to a person offering, providing, or operating a "residential rental property consisting of two (2) or more dwelling units on a parcel under that person's ownership" and requires them to first obtain a license for that residential rental property.
The second phase then takes effect on January 1, 2024. It requires the same as the first phase, except a license is required for a residential rental property of a single dwelling unit.
These requirements are set forth in Sections 27-191 through 27-202 of the Denver revised Municipal Code.
HOA Information & Resource Center
The HOA Information & Resource Center offers HOA Forums monthly and are open to both licensees and the public. Stay tuned to the Division of Real Estate's Calendar for future HOA Forums and join us for our future webinars. You can also check out our recently published HOA Forums or our YouTube Channel.
Staff Announcements
-The License Auditing Team is pleased to announce that Todd Geske began work as a Criminal Investigator.
-The Division of Real Estate is pleased to announce that Nick Altmann has started as the new HOA Information Officer. For more information about Nick and the HOA Information & Resource Center, visit the HOA Center's website.
-Nancy Buck will be joining the Division of Real Estate at the end of January as a Marketing & Communication Specialist.
Quarterly Discipline
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Colorado Division of Real Estate | 1560 Broadway, Suite 925, Denver, Colorado 80202
Phone: (303) 894-2166 /(800) 886-7675
| Fax: (303) 894-2683 |
Email: dora_realestate_website@state.co.us
