DENVER, COLORADO-On behalf of the Colorado Real Estate Commission (the “Commission�), Division of Real Estate Deputy Director, Garred Lyle, executed a Stipulation and Final Agency Order to revoke the real estate broker license of Sandra Rosemary Oldenburg, License Number FA.100027954, on May 1, 2025. ־ȫվ Respondent had a principal business address at 2900 S. College Ave., Ste. 3E, Fort Collins, Colorado 80525.
־ȫվ Colorado Division of Real Estate (the “Division�), which is a part of the Department of Regulatory Agencies (DORA), performed an investigation into possible violations of real estate broker license law against the Respondent. ־ȫվ Division found reasonable grounds to refer the Respondent to a hearing for violations, resulting in the Stipulation and Final Agency Order.
In executing the Stipulation and Final Agency Order, the Division and Respondent agreed to the following terms and conditions:
1. ־ȫվ Respondent’s license, FA.100027954, is permanently revoked, and the Respondent may not conduct any activities that require a real estate broker’s license in Colorado.
2. ־ȫվ Respondent will not reapply for a Colorado real estate broker’s license, or any other license regulated by the Commission.
3. ־ȫվ Respondent shall pay a fine in the amount of $100,000.00, plus a statutory surcharge of 15% for a total of $115,000.00 with conditions. ־ȫվ Respondent shall pay $2,000.00 plus 15% for a total of $2,300.00 within one hundred and twenty days of May 1, 2025, and the remaining balance of the fine will be stayed unless the Respondent attempts to reapply for a professional license issued by the Division OR the Respondent fails to timely pay $2,300.00. Upon either of these conditions, the total amount of $115,000.00 shall be due immediately in a single lump sum.
4. Notice of the Stipulation and Final Agency Order will be published on the Division’s website and in the Division’s newsletter.
When recently asked for comment about the resolution of this investigation, Director Marcia Waters commented that “through the diligent work of Division staff, Colorado consumers are protected from unauthorized activities that require a real estate broker’s license. Too commonly, broker licensees fail to account for, divert, and commingle funds belonging to others with his or her own funds. Division staff regularly conduct financial audits of licensees� activities to ensure compliance, including but not limited to maintaining and reconciling proper escrow or trust accounts. Protecting the public is, and continues to be, an essential goal of the Division.�
־ȫվ Division has limited jurisdiction in these matters and is statutorily mandated to enforce license law against real estate licensees. ־ȫվ Division is unable to divulge any information concerning an investigation. Furthermore, investigative files are closed to public inspection pursuant to statute. ־ȫվ Division does not have any authority or power to seek civil restitution for any damages or monies on behalf of consumers.
If you or someone you know believes that they are a victim of similar wrongdoing, the Division of Real Estate encourages you to contact:
- ־ȫվ Division to File a Complaint at: .
- A Licensed Colorado Attorney for Legal Advice. ־ȫվ Colorado Bar Association has an attorney search tool named “Licensed Lawyer� which can be used to look-up Colorado attorneys on their website at: , or the Colorado Bar Association can be contacted by telephone by calling (303) 860-1115.
- Local Law Enforcement. ־ȫվ local law enforcement agency where your property is located.
About the Division of Real Estate:
־ȫվ 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 for more information or call 303-894-7855 / toll-free 1-800-886-7675.