Division Notifications

Ways to Increase Cash Flow Without Increasing Assessments

Association finances are usually on the top of the list when homeowners are asked about what concerns them the most about their HOA. Since the only way that most association boards believe they can generate revenue is through assessments, annual increases in dues and the levying of special assessments have become the norm. However, there are some ways for an association to generate additional income that many may have not thought about.

Recognizing Discrimination in Housing

Colorado has been at the forefront when it comes to enacting fair housing laws, in fact prohibiting discrimination in housing as far back as 1959, years before the federal Fair Housing Act became law. �־��ȫվse laws were established to make sure that everyone has the same opportunity and access to choosing where they want to live and the type of housing that they desire.

Real Estate Broker Safety

Now that the summer home-buying season is underway, real estate brokers should take heed of safety measures for themselves, as well as for their clients. In addition to any COVID-19 health department protocols that may exist in any particular county, there are other measures that can help ensure one’s safety.

Connect With Your Membership

�־��ȫվre are many ways to operate and govern a homeowners association. Some boards prefer to use a community association manager as an agent to interact with the membership and deal with day-to-day operations. Other boards may choose to be more hands on and active with governance and communication with their membership. While both approaches hold value, regardless of management style, one thing should always be at the top of your mind - homeowners associations are communities and the people who live there are your neighbors.

�־��ȫվ What, Why, and Risks of Using Lockboxes

In this second advisory of the series, we discuss the types, use, risks, and some best practices involved with using lockboxes for accessing a seller’s property. We also touch on some real life examples of lockbox violations that can bring a real estate broker before the Real Estate Commission for discipline.

What is an Appraisal Gap on a Home Purchase?

An appraisal gap is the difference that occurs when a buyer's offer is higher than the actual appraised value of the property (which is usually the amount the bank will loan for the home) that they are contracting to purchase. It is an issue that is currently being experienced in the hot and highly competitive Colorado real estate market and experienced by buyers where there are many more prospective purchasers than inventory that is available for sale, and where bidding wars and other aggressive purchase offer tactics are being used.

Jury Duty Scam Directed at Real Estate Brokers

�־��ȫվ Division of Real Estate has been informed by the Denver Police Fraud Unit that a Jury Duty Scam is currently being directed at Colorado real estate brokers, and in particular toward female brokers.

Know Your Docs! A Quick Guide to Governing Documents

In Colorado, the law treats your relationship with your homeowners association as a contractual relationship. �־��ȫվ terms of that contract are your governing documents, supplemented by certain statutes, such as the Colorado Common Interest Ownership Act (“CCIOA��) and the Colorado Revised Nonprofit Corporation Act (“CRNA��). Accordingly, it is important for members of an association to thoroughly understand each of these documents and get professional advice on anything they do not understand.

Employing Broker Supervision and Responsibility

As a real estate broker, have you ever asked yourself “What exactly is the job of the employing broker?�� Whether it's you or someone you work for, the employing broker has many responsibilities and different levels of supervisory duties that must be adhered to.

Navigating a Commission Dispute as a Listing Broker

�־��ȫվ Division of Real Estate has become aware of an increase in the number of instances concerning real estate broker commission disputes between a seller and broker arising at the closing table wherein the seller decides for a number of reasons that they do not want to pay their listing brokers�� commission in full.

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