Employing Broker Qualifications UPDATE
In 2016, the Colorado legislature through the Department of Regulatory Agencies (DORA) required a Sunset Review relative to the Colorado Real Estate Commission and the Division of Real Estate. Sunset Reviews are processed every ten (10) years. In October 2016, the DORA Sunset Review was finalized with recommendations. In January 2017, the current legislature started the Sunset Review and completed Senate Bill 17-215, which was signed by Governor Hickenlooper on June 1.
Once the SB17-215 was signed, the Division of Real Estate established an Employing Broker Task Force. This task force is made up of current Employing Brokers and, fortunately, four task force members are DMAR members.
In the Task Force meetings, it was recommended that the Employing Broker Rule Making be based on "grandfathering” and a point system. Many states currently have a point system for Employing Brokers.
On the last page of the Employing Broker rule proposal, which you can download above or below, you will see the proposed point system and the suggested points for each item. This document will be presented for rulemaking at the December 5th CREC meeting.
In summary, there are currently 12,000 Employing Broker licensees. After grandfathering, the Division of Real Estate staff believes that approximately 1,000 current Employing Broker licensees will need to be confirmed in order to remain Employing Brokers.
Overall, the task force has done a great job in my opinion and also a thank you to Scott Peterson for his help in this process.
Thank you,
Gary Bauer
Chair of the CREC Advocacy Committee
