Division Notifications

�־��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.

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.

Floods and Floodplains in Colorado

In Colorado, floods are one of the most widespread common and natural hazards that we encounter. While some floods develop very slowly, flash floods can occur in an instant. Real estate professionals and their clients looking to purchase a home need to be aware if that home is located in a floodplain, as well as what the risk of flooding is in the area.

How does a bill become law in Colorado?

�־��ȫվ HOA Information and Resource Center frequently hears from homeowners who express surprise and disappointment to learn that in Colorado, there is no regulatory oversight of homeowner associations or community association managers. Many express further surprise when they learn that the Division of Real Estate lacks the ability to create or even recommend regulations for HOAs. That is left to the legislators in Colorado’s General Assembly.

Understanding the Colorado Foreclosure Protection Act

With the possibility of an increase in the number of foreclosures on the horizon and the potential easing of state and federal foreclosure moratoriums, a real estate broker will need to be aware of the Colorado Foreclosure Protection Act (“the Act��).

CP-20 Commission Position Statement on Licensed and Unlicensed Real Estate Administrative Professionals (“REAPs��)

At their meeting on April 6, 2021, the Colorado Real Estate Commission (“the Commission��) adopted revisions to Commission Position Statement 20. This important position statement provides the real estate broker with guidance regarding the broker’s supervision responsibilities regarding unlicensed and licensed Real Estate Administrative Professionals (“REAPs��) as employees or independent contractors, and the tasks that they are allowed to perform on behalf of brokers.

Working with a Mortgage Loan Originator: �־��ȫվ questions consumers should ask.

A mortgage loan originator (MLO), is a licensed professional that assists a consumer seeking a loan to purchase a home or to refinance their existing home loan, and works with them throughout the loan approval process.

�־��ȫվ