DENVER, COLORADO-On October 16, 2024, the Director of the Division of Real Estate, Marcia Waters, executed a Final Agency Order for public censure, fines, and to revoke the license of JoLinda Wilson, License IL.40012621. 乐竞体育全站 licensee operated as a real estate broker with a principal office address of 310 18th Street, Greeley, Colorado 80631.
乐竞体育全站 Colorado Real Estate Commission (the 鈥淐ommission鈥�) directed the Division of Real Estate (the 鈥淒ivision鈥�), part of the Department of Regulatory Agencies (鈥淒ORA鈥�), to conduct an investigation in response to complaints received by the Division. Upon finding evidence of license law violations by the licensee, case number RC 2024-0005 was filed in the Colorado Office of Administrative Courts on March 8, 2024. After an Initial Decision was issued by the Office of Administrative Courts on September 11, 2024, a Final Agency Order was issued.
In relevant part, the investigation revealed that Wilson listed a property, including land and certain water rights, for the price of $10,000,000.00. Subsequently, Wilson had the sellers and an interested buyer execute a Letter of Intent for the purchase of the Greeley property which required the payment of a $100,000.00 earnest money deposit to be held in a bank account controlled by Wilson. When the transaction did not close, the licensee did not return the earnest money deposit to the interested buyer. Instead, the licensee used a portion of the earnest money on personal expenditures.
<> Shortly thereafter, Wilson had the sellers and a new interested buyer execute a Letter of Intent for the purchase of the same property located in Greeley. This time the Letter of Intent required the payment of a $500,000.00 earnest money deposit to be held in a bank account controlled by Wilson. This transaction also fell apart and Wilson did not return the $500,000.00 earnest money deposit to the interested buyer. Again, the licensee used a portion of the funds on personal expenditures. 乐竞体育全站 licensee failed to properly account for the earnest money deposits received and once the transactions failed, the licensee was not entitled to retain the earnest money deposits.
In a separate investigation, Wilson owned and operated an estate sale company called Pearl Societies, Ltd (鈥淧earl Societies鈥�). Pearl Societies was registered with the Colorado Secretary of State with a business address of 310 18th Street, Greeley, Colorado 80631. 乐竞体育全站 Registered Agent for Pearl Societies was Caleb Brewer until the business registration was voluntarily dissolved on June 1, 2023. After the death of a family member, the victim negotiated with Wilson for Pearl Societies to conduct an estate sale. 乐竞体育全站 victim paid Pearl Societies $500.00 to conduct the estate sale. Although Pearl Societies conducted the estate sale, the victim never received any proceeds. 乐竞体育全站 victim filed suit and obtained a default judgement in Larimer County District Court against Pearl Societies in the amount of $48,222.28.
Responding to questions about the investigation and Final Agency Order, Director Waters stated that 鈥淒ivision of Real Estate investigations, like this one, require thorough research and cooperation with the Office of the Attorney General and other law enforcement agencies. This Final Agency Order is a prime example of where Division investigators, leading the charge, obtained a timely and effective resolution which protects the public from future harm. Controlling law and regulations clearly set forth the requirements for the broker profession, but in particular, when they hold money for the benefit others. Abuse by a licensee of these requirements and the public鈥檚 trust is unacceptable.鈥�
乐竞体育全站 Division has limited jurisdiction in these matters and is statutorily mandated to enforce license law against real estate licensees. 乐竞体育全站 Division is unable to divulge any information concerning an investigation. Furthermore, investigative files are closed to public inspection pursuant to statute. 乐竞体育全站 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 you have been victim of similar wrongdoing, the Division of Real Estate encourages you to contact:
- 乐竞体育全站 Division to File a Complaint.
- A Licensed Colorado Attorney for Legal Advice. 乐竞体育全站 Colorado Bar Association has an attorney search tool named 鈥淟icensed Lawyer鈥� 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. 乐竞体育全站 local law enforcement agency where your property is located.
About the Division of Real Estate:
乐竞体育全站 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.