Summer 2018
The Real Estate News
Colorado Division of Real Estate
Division Meetings and Events Calendar
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In the Division's Spotlight
The Colorado Real Estate Commission Welcomes New Members
Lenee Koch of Golden
(Public Member / Term Ending April 12, 2021)
Lenee has been in Sales and Business Development for more than 20 years and currently is the Project Development Director for Hensel Phelps Construction. In her current role, she manages the Project Development Division for the Plains District and concentrates on building strategic relationships in the industry to ensure that the $500M plus pipeline remains strong and consistent for the District. She is an entrepreneur who founded two Denver-based businesses and continues to advise the Electrical Contracting business that is co-owned by other family members and she is President of the family-owned Concessions business that currently operates nine locations at Denver International Airport. Lenee is a Colorado native. She and her husband have three children, one girl and two boys, and they reside in Wheat Ridge. They enjoy supporting their children in their passions year-round, which include competitive volleyball for their daughter and competitive hockey for their sons.
John Wendt III of Carbondale
(Broker Member / Term Ending April 12, 2021)
John Wendt III, a Colorado native started his career into real estate as a Sales Associate in 1980 at a small company in Hotchkiss, Colorado. Today John is the Employing Broker for Coldwell Banker Mason Morse based in Aspen with five offices throughout the Roaring Fork Valley. John has been President of the Colorado Association of Realtors, was one of the authors that codified Agency Law and created the duties of Transaction Brokers, served as President of two regional MLS’s, and has taught and continues to teach Realtors. This is just a snapshot of what John has accomplished in his career. John often states he is so grateful and honored to be able to serve buyers, sellers and the brokers he works with in his profession. When not involved with real estate, John loves to play tennis and work on his small horse farm in Orchard City, Colorado.
Director's Corner
During the 2018 legislative session, the Division of Real Estate had four sunset review bills introduced by the General Assembly. The bills proposed to continue the Board of Mortgage Loan Originators, continue the regulation of community association managers, continue the certification of conservation easement holders, and continue the Conservation Easement Oversight Commission. The Division also had two bills designed to clean up language regarding the transitional license cycles for real estate brokers and to align the appraisal management company statutes with federal law. The legislative process can be very unpredictable and we got to experience this first hand.
Throughout the year each program at the Division of Real Estate goes through rule changes, application reviews, renewals and other related activities affecting both licensees and the consumer.
Wind and Hail continues to be the largest and most problematic insurance claim for Colorado. In fact, last years’ May 8, 2017 hail storm cost Colorado’s Insurance Carriers $2.3 Billion in that single event. As wind and hail continues to be our number one costly risk, insurance carriers will continue to make coverage changes on Homeowners Association’s policies.
This quarter we discuss the questions and complaints related to real estate transactions involving brokers and brokerages with different, and sometimes conflicting, compensation structures and business models; and our Community Association Management investigators break down when the Director should be notified, how long to hold on to records, and what is “reasonable supervision" for community association designated managers.
On April 10, 2018, the Senate Committee on Finance of the Colorado Legislature voted to postpone indefinitely HB18-1175 (the Bill Concerning the Continuation of the Community Association Manager Program under the Sunset law). The effect of this vote means that the legislature will not continue the Community Association Manager (CAM) Program and will allow it to sunset.
Quarterly Discipline
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