Did you receive that very warm and fuzzy email from the Divisions of Real Estate last fall, alerting you that they will be conducting education audits of real estate brokers? The Colorado Real Estate Commission began auditing in November for continuing education compliance, and hundreds of people were found to be short on hours. Just as a review, within the three-year cycle, each Broker needs:
24 CE credits total
-12 of those 24 must be CREC Mandatory Update classes (so three different versions)
-12 remaining credits may be electives (make sure the class is approved and has a course approval code)
If you fall short on your elective credits, and you are caught, you will be fined based on the number of hours you’re missing. If you are caught lacking a CREC Mandatory Update, the options are less than appealing:
- Take the 24-hour Broker Administration course (may only be taken once for credit in your license lifetime)
- Take the 24-hour Broker Transition course (may only be taken once for credit in your license lifetime)
- Take 72 hours of pre-licensing courses
- Take the Colorado portion of the exam
I don’t know about you, but I would rather quit the business than take that test again! If’s not a matter of ‘if’, it’s a matter of ‘when’ you will be audited, so round up your CE certificates and get organized now. The CREC is planning to audit about 10% of us per quarter (so if they keep that up, we can plan on being audited for every three-year cycle). Don’t get caught short on hours – get your continuing ed done now!
