Frequent question: What is the purpose of the Colorado Real Estate License Law?

The Colorado Real Estate Broker License Law was passed to protect the people of the State of Colorado. Through licensing, the law seeks competency and integrity on the part of those engaged in the real estate business.

Which of the following if any is exempt from the Colorado Real Estate License law?

In Colorado, who of the following is exempt from real estate license law? Investor who owns 12 investment properties and sells one to an owner-occupant. … A licensee is always under the jurisdiction of the real estate commission. Acts of fraud may also require a broker to appear in civil or criminal court.

What can a Colorado real estate licensee be disciplined for?

Licensed realtors who get convicted of any of the following offenses are vulnerable to disciplinary punishments by the Real Estate Commission:

  • Colorado homicide crimes.
  • Colorado assault crimes.
  • Colorado kidnapping crimes.
  • unlawful sexual behavior (including the Colorado crime of rape)
  • Colorado human trafficking crimes.
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Can you pay a referral fee to an unlicensed person in Colorado?

As to the legal side; according to the real estate commission, there is no public harm in paying a referral fee to an unlicensed person as long as the person has done nothing requiring a license, and the amount paid is “reasonable” under the circumstances. … You can only pay a commission to a licensed agent.

What is the Colorado real estate Recovery Fund?

The Real Estate Recovery Fund provides funds from which a client can recover court-awarded amounts if the judgment was against an individual broker arising from a real estate transaction involving both the broker and the client, and the client has been unable to recover otherwise.

Who has the responsibility for prosecuting in court the practice of real estate without a license?

30 Cards in this Set. Who has the responsibility for prosecuting the practice of real estate without a license? Since the Real Estate Commission only has jurisdiction over people with licenses, someone performing a licensed activity without a license would be a criminal matter prosecuted by the district attorneys.

Which would need to be registered with the Colorado real estate Commission for a subdivision?

Required Subdivision Developer Registration Types

Any division of real property into twenty (20) or more interests intended solely for residential use, with each interest comprising thirty-five (35) or more acres of land offered for sale, lease or transfer.

When selling real estate What is the least effective form of communication?

When selling real estate, the least effective form of communication is: by letter (one way). An incoming call register is a useful tool for: record keeping.

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How can I improve my communication skills in real estate?

Communication Skills for Real Estate Agents.

  1. Ask questions. Show genuine interest in your vendors and buyers by asking well-considered questions. …
  2. Listen. …
  3. Written. …
  4. Solid body language. …
  5. Stay in touch.

Which of the following can terminate an agency relationship?

Which of the following can terminate an agency relationship? An agency relationship may be terminated by mutual agreement; revocation by principal; renunciation by agent; expiration of its term; extinction of its subject matter; death or incapacity of either principal or agent.

Are referral fees legal in Colorado?

Rule 1.5(e) of the Colorado Rules of Professional Conduct (Colo. RPC or Rules) prohibits referral fees. Therefore, a Colorado lawyer may neither pay nor accept a referral fee.