The Real Estate News
Spring 2021
Division of Real Estate
Division Meetings and Events Calendar
Sign up for a webcast
The Division of Real Estate makes an effort to have all public meetings 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.
Upcoming HOA forums
Attend a forum to learn about the Colorado HOA Information and Resource Center. You will have the opportunity to voice your questions and concerns regarding HOAs. At the forum, helpful resources will be provided along with a discussion of the rights and obligations of living in an HOA community. Topics and locations change monthly.
Division Spotlight
Providing Access to Properties (Lockboxes & Unauthorized Access)
Lockboxes are a great convenience for Colorado brokers to gain access to a property offered for sale when they have a potential buyer who is interested in viewing the property. However, the Division of Real Estate has seen an increase in complaints regarding lockbox violations, averaging nearly 3 per month, resulting in more brokers being disciplined.
Director's Corner
A Fair and Competitive Real Estate Market - With everything that has transpired over the past year and a real estate market with a tight inventory, it appears that there are a few practitioners who are not putting their best foot forward with some of their real estate practices.
Consumer Connection
Getting ready for the home buying season.
Though homes are purchased and sold everyday of the year many in the world of real estate consider June as homeownership month. So as April showers bring May flowers the Division of Real Estate wants to provide consumers a leg up with preparing for the upcoming home buying season, along with learning what to know before purchasing in HOA. Additionally, the Division has established two pieces of consumer guidance to help provide clear and simple understanding regarding the real estate transaction process and working with licensed real estate professionals.
What to Know Before Purchasing in HOA
Our suggestions will hopefully assist you in your experience of purchasing a home in a community association. Doing your due diligence in advance will help you decide whether ownership in an association is right for you.
Home Buying Season is Coming
The spring market is already a fast paced and competitive market, due to the low home inventory. Currently properties could have up to 100 showings per weekend, 25+ offers submitted, and anywhere from 10-30% above list price being offered. The more educated you are about the process, the better you will be able to make a decision about the timing of taking your property to the market, and making a good decision when you receive an offer.
Understand the Real Estate Transaction Process
It is not that often that an individual is involved in the real estate process during their lifetime. A real estate transaction has many components and consumers should have a general idea of each stage of the transaction as they traverse the purchasing or selling of a home.
Working With Licensed Real Estate Professionals
The sale or purchase of a home can be a complex, confusing, and intimidating process for any person to handle on their own. Licensed real estate professionals can assist buyers and sellers by explaining and making you more comfortable by using their knowledge and expertise to make sure the transaction goes smoothly.
Licensee News & Investigator Insights
Permission to Photo or Video Properties
A real estate broker representing a seller on a listing will no doubt encounter the situation where a buyer’s broker will want to take photos or a video of the interior of the seller’s property to share with their buyer.
Audio and Video Surveillance in Properties
Questions arise as to the Seller’s use of audio and video surveillance in homes during property showings. The improper use of these devices could possibly result in civil or criminal liability.
Understanding Broker Competency Requirements
What does it mean for a real estate broker to be competent in the practice of real estate?
Understanding the Seller’s Property Disclosure Forms
The Seller’s Property Disclosure is an important disclosure form for real estate brokers to discuss with their respective clients.
Appraisal Adjustment Support and USPAP
The Division of Real Estate is releasing the final installment of its series of appraiser licensee advisories designed to achieve better compliance. This final installment gives licensees the opportunity to better understand how to complete a successful appraisal by supporting adjustments properly. See if you are completing successful appraisals with supporting adjustments properly.
Experience Alternative for Real Estate Appraisers: Practical Applications of Real Estate Appraisal (PAREA)
In recent years, it has become more and more difficult for aspiring appraisers to find willing and available supervisors, especially in smaller populated areas. PAREA was developed to fill the need for more options in place of the traditional supervisor/trainee model as an alternative path to gain the experience portion of the appraisal license requirements.
HOA Today
Keep up-to-date as each month the HOA Information and Resource Center provides its interested parties with an email update dedicated to providing timely articles for members of HOAs. Each monthly edition of ‘HOA Today’ will also provide a look at upcoming educational opportunities for those members of the public who live in or manage an HOA.
What is your Association Doing to Protect its Members? - Section 38-33.3-317 of the Colorado Common Interest Ownership Act defines what records must be kept by an association, for the purposes of record retention and production to unit owners. Association members should know what their rights are in relation to the information the association maintains.
Quarterly Discipline
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