Division of Real Estate enacts new legislation for Commission update course
Pursuant to the recent legislative changes in House Bill 08-1212 including Colorado Revised Statutes 12-61-110.5, effective April 17, 2008, licensees are now required to complete 12 hours of mandatory 4-Hour Annual Commission Update Coursework prior to applying to renew an active license, activate an inactive license or reinstate an expired license to active status.
Licensees must complete 12 hours of the 4-Hour Annual Commission Update Course during the three-year renewal cycle under the following circumstances:
1) A real estate broker’s license expires on April 17, 2008. The licensee must complete 12 hours of the update course by their anniversary date April 17, 2011.
2) When a real estate broker’s license expires after April 17, 2008, the licensee must complete 12 hours of the 4-hour mandatory update course during licensee’s new three-year renewal cycle.
The remaining licensees who, as of April 17, 2008, are in a partial three year renewal cycle, must complete only eight hours of the 4-Hour Annual Commission Update Course prior to applying to renew an active license, activate an inactive license or reinstate an expired license in active status. However, once the license is renewed, the licensee must complete 12 hours of the update course during the new three-year renewal cycle.
The new update course (2008 version 2) will be available July 23, 2008. If you completed a 2008 version 1 course (offered from late October 2007 – July 22, 2008), you can count the 2008 version 2 course as the second required course for the three-year renewal period.
C.E. credit also required
Licensees are still required to complete an additional 12 credit hours of elective continuing education every license cycle. Use caution when selecting elective credit courses to ensure that they are approved courses offered by an approved provider (see the New Education B-Rules from the Division of Real Estate at www.dora.state.co.us). According to the B-Rules, the Department of Real Estate (DRE) plans an education audit of 100 percent of all licensees, so be sure to keep an accurate record of your coursework.
Ethics is a separate requirement
Please note that the 4-Hour Annual Commission Update Course is not the Mandatory Ethics Course that is a bylaw requirement of the Association to maintain membership. The Mandatory Ethics Course receives elective credits, not credit toward the 4-Hour Annual Commission Update Course. All Realtor members are required to complete a Mandatory Ethics Course some time between Jan. 1, 2005, and Dec. 31, 2008. Members who completed a New Member Ethics Course in that time period may count that course as the requirement. |
