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Office of Economic Development and International Trade

Business Licensing Database
REAL ESTATE

APARTMENT MANAGER BUILDING MANAGEMENT DEVELOPER LAND DEVELOPER
LOCATION SERVICES PROPERTY MANAGEMENT REAL ESTATE REAL ESTATE DEVELOPER
REALTOR RENTAL MANAGER SUBDIVIDER SUBDIVISION DEVELOPER
TIME SHARE

State

Colorado Department of Regulatory Agencies
Real Estate Commission
1560 Broadway, Suite 925
Denver , CO   80202
(303)894-2166
Fax: (303)894-2683
Any individual involved as a third party in buying, selling, trading, option dealing, negotiating, auctioning etc. of real estate, including time shares, must be licensed. Licensing is also required for third party property managers who negotiate rents and leases on the property they manage.
Colorado licensing recognizes three levels of responsibility: Associate Broker, Independent Broker (Two years of active licensure are a prerequisite for this level of licensure), and Employing Broker.

Link:  http://www.dora.state.co.us/real-estate/license/licinfo.htm
Licensing standards include education, experience and examination requirements. Promissor, Inc., administers the real estate examination in Colorado. For information or to make a reservation for your real estate examination, contact Promissor’s web site or Candidate Care Center at 1-800-274-0828.

Link:  http://www.asisvcs.com/publications/pdf/090600.pdf
Every active licensee and every licensed real estate company must maintain Errors and Omissions Insurance pursuant to 12-61-103.6 C.R.S.
SUBDIVISION DEVELOPERS: Must register with the Commission. Must submit documentation indicating that title to the property being registered is vested in the applicant. If any of the improvements, utilities, roads or amenities that the developer is obligated, or promising to complete, are not complete at the time of application, developer must establish an escrow account, letter of credit, or bond to ensure completion of the promised amenities, utilities, etc. Upon approval by the Commission, a developer may utilize non-binding "Reservation Agreements" in order to offer the property before approval and during the pendency of the Application process.

The contract or disclosure document must include a statement indicating whether or not the subdivision is or will be a common interest community, and whether or not membership in a homeowner's association is mandatory. (12­61­406(3)C.R.S.)

Link:  http://www.dora.state.co.us/real-estate/license/subdiv.htm
38­35.7­101 (1) Colorado Revised Statutes requires certain disclosure language about special districts to be in EVERY contract for the sale of residential land located in Colorado. The disclosure must be included in the contract regardless of whether or not the property is situated in a special district.

State

Colorado Department of Regulatory Agencies
Division of Civil Rights
1560 Broadway #1050
Denver , CO   80202-
(303)894-2997
(800)262-4845
Fax: (303)894-7830
Real estate brokers or agents, home builders, home mortgage lenders and all other persons who transfer, rent, or finance real estate must display printed non-discrimination notices available from the Civil Rights Commission.

Link:  http://www.dora.state.co.us/civil-rights/Publications/postermar20
00.pdf

Federal

U.S. Federal Trade Commission
600 Pennsylvania Ave, NW
Washington , DC   20580
(202)326-3553
(877)382-4357
Fax: (202)326-3197
Become familiar with laws and regulations regarding disclosure and truth in lending.

Link:  http://www.ftc.gov/bcp/menu-lending.htm

Federal

U.S. Department of Housing & Urban Development
451 7th Street S.W.
Washington , DC   20401
(202)708-1112
Interstate land sales offering 100 or more lots must register with HUD unless it qualifies for one of the available exemptions. Offerings that have 25-99 lots that are part of a common promotional plan are exempt from registration, but are subject to federal antifraud provisions.

Link:  http://www.hud.gov/offices/hsg/sfh/ils/ilsdevqa.cfm
NOTE:  Property managers who are not responsible for negotiating the cost of rents and leases are not subject to licensure.
NOTE:  To avoid problems with titles, a business that buys and/or sells real estate under a trade name should record an affidavit in the county where the property is located, setting forth the full name(s) of all the parties representing the business organization, in addition to TRADE NAME REGISTRATION with the Department of Revenue. (24-35-301(1.5), C.R.S.)
http://www.revenue.state.co.us/fyi/html/generl03.html

page last updated 9/18/03

The Colorado Revised Statutes are available on line at http://198.187.128.12/colorado/lpext.dll?f=templates&fn=fs-main.htm&2.0. You can locate a statute of interest by searching either on the citation given in the database (e.g., 18-5-307) or on a keyword or phrase.

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