NCCRE

As we enter the second year of regular quarterly audits for continuing education compliance, the results are a bit shocking:  thus far, 20% of the licensee population is not compliant.  I fear that number will hold steady, or possibly even increase, as people are caught off guard by the requirement for course approval codes.  Continuing education audits require verification of course approval codes with every certificate submitted.

In October of 2010, the system changed at the Colorado Real Estate Commission in regards to how continuing education was offered.  Gone were the days of Boards and Associations being allowed to freely offer courses.  All providers – Boards, Associations, schools – were then required to submit every outline to the CREC for approval, and then a course approval code was assigned to each course.  In 2012, it became even more stringent; not only did the outlines have to be approved, but now the provider must be approved to offer an approved course.   It’s not a difficult process, however the message didn’t reach everyone, and there has been much confusion on this new system.

So as you decide how to spend your time and hard-earned money in 2013, please do not hesitate to ask the provider and/or the instructor if the course is approved.  The CREC is very clear – it is the responsibility of the licensee to confirm courses are approved – NO EXCEPTIONS!  I strongly encourage all licensees to be overachievers, and take an extra class, just in case one is denied by the CREC.  Approved courses are listed on http://www.colorado.gov, however it would be wise to also confirm that the provider is approved to offer a particular class.

Here’s wishing you a prosperous and compliant 2013!

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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!

As you choose the classes on which you will spend your time and money, keep this in mind:  make sure the course is CE approved.  In October, 2010, the Colorado Real Estate Commission began requiring that all courses be submitted for approval, and in turn classes received a course approval code.

There have been cases of classes being offered that in fact are not approved, so it’s wise to ask your instructor and/or course provider if the course has an approval number.  For a list of approved course providers and class topics, visit http://www.dora.state.co.us/real-estate/licensing/education/broker/ContinuingEd/CEReq.htm.

Here’s to a great 2012 filled with continuing education!

Extra! Extra! Read all about it!  The 2012 CREC Mandatory Update is hot off the press, and there’s no better time to take it than right now.  Since 2009, the Colorado Real Estate Commission has released one version of the Mandatory Update per year.  Those Real Estate Brokers who are in the habit of taking the Mandatory Update in the 4th quarter (because that’s when the CREC used to modify the course) should consider changing that habit.  Take the Mandatory Update early in the year – when it’s actually new – as opposed to at the end of the year, when it’s largely outdated.

The only exception to this suggestion would be during a Broker’s renewal year.  For example:  if I were to renew in May 2012, I’d want to consider if I have THREE DIFFERENT VERSIONS of CREC Mandatory Updates within my cycle.  That would mean I took the 2009 version AFTER May (my last renewal date), and I have 2010 and 2011 course certificates.  If that’s the case, then perhaps I want to take the 2012 version AFTER May so that it counts towards my next cycle.  If I do choose to take it prior to May, the 2012 version would count as elective hours in this cycle.

A quick review of CE requirements:

24 hours total in your three-year cycle, of which 12 hours are CREC Mandatory Updates (different versions) and 12 hours are approved electives.

So sign up for the 2012 CREC Mandatory Update as soon as possible, and check it off your annual to-do’s!

Shall old past clients be forgot,

And never called again?

Shall prospecting be written off,

And thus making new friends?

 

For clients come, you know

And clients go,

But you can keep your clients dear

With plans this year!

Don’t let this be your theme song – make a plan for 2012!

I am a firm believer in investing in real estate.  Despite the market and the economy, in Colorado, the overall real estate market has remained relatively strong, and more than once I have been thankful to have some of our assets grounded in residential real estate.  But with the pros, come the not-so pros.

Recently our condo vacated, so we embarked upon the monumental task of updating and upgrading the condo.  We’re talking about 10 years of deferred maintenance, so this was no small task.  Before beginning, we talked about hiring some of the work to be done, but decided it would be a “fun project” for the two of us, so we did as much as possible ourselves. For five full weekends and some pockets on weekdays, my husband and I toiled endlessly at the condo, painting, repairing, replacing, caullking, installing and cleaning.  Oh, the CLEANING!  I wish I had taken before pictures, because the transformation was remarkable.  After a month of labor, the condo still wasn’t perfect (a list of tasks for 2012 is already in the works), but it had dramatically improved.

Our wonderful property manager, Mary Miller, had it rented in less than a week, so order has been restored in the land and all is back to “normal”.  If you have dreamt of jumping into the world of investment properties, it’s a great time to buy.  The rental market is the strongest it’s been in years, so take the plunge!  Real estate has been and will continue to be a wise investment and asset in Colorado!

 

In Colorado, the Graduate REALTOR Institute designation was completely revamped in 2010.  All fifteen required courses were rewritten, visual aids created and the outlines improved to provide more quality presentations to the students.  So as if that wasn’t incentive enough to enroll in the GRI series, now there’s yet another benefit:  you can earn credits towards your Accredited Buyer Representative designation at the same time!

Yes, it’s true! Now you can potentially “double dip” by earning credits simultaneously for the two highly-respected designations.  For more information on both the GRI and ABR, and to search for classes, visit www.ColoradoRealtors.com.

And sign up today for your GRI!

Currently in Colorado, approximately 380 Brokers hold the prestigious Master of Real Estate (MRE) designation. The MRE was created years ago for those who truly wanted to distinguish themselves in the industry, and to obtain the MRE designation, 96 hours of advanced courses were required.  Those who have worked so hard to achieve the MRE know the challenges involved.  However, in February of this year, the Colorado Association of REALTORS’ Education Development Committee was faced with a difficult decision – what to do with the MRE?

Why the dilemma?  The National Association of REALTORS has announced that a new designation is in the works – and you’ll never guess what it’s called – the MRE!  NAR’s version of the designation is rumored to require a Broker to not only take extensive additional advanced courses, but also to have an actual Master’s Desgree in real estate from a university.  So, Colorado’s MRE designation would conflict with NAR’s MRE designation – you can see how confusing this gets.

The Education Development Committee elected to honor those in Colorado who have worked so hard to achieve the MRE, so rather than eliminate it completely, the MRE has simply been renamed to the Colorado MRE (or you may abbreviate CMRE).  CAR has released the announcement as well, so those holding the Colorado MRE may start updating their marketing materials (eg. business cards, email signatures, etc).

And if you want to be a REAL overachiever, you could earn both the CMRE and NAR’s MRE!  However, Colorado’s MRE program is closed, so if you missed it, it’s too late.  No more courses are being offered.

Every time I’m teaching, it seems questions come up regarding the education requirements from the Colorado Real Estate Commission.  Most people remember that they need 24 hours every three years, but from there it gets a little fuzzy.  So let’s review just what exactly is required by CREC:

• 24 hours of continuing education credits within every three-year renewal cycle
• Of that 24 hours, 12 hours must be different versions of the CREC Mandatory Update class, so that would equate to three different CREC Mandatory Updates within every three-year renewal cycle
• Remember that since 2009, CREC has been releasing CREC Mandatory Updates based on the calendar year (January 1-December 31), so there’s no need to wait until the 4th quarter (an old tradition that’s dying a slow death). 
• The remaining 12 hours of required CE credits may be used on electives of your choice (eg. Contracts, GRI courses, NAR Ethics, etc.).  Keep in mind that all classes must be approved by CREC and will have a course approval ID number. 
• The NAR Ethics Update is often confused with the CREC Mandatory Update, but the two are entirely unrelated.  The NAR Ethics Update is required by NAR (for those of you who are REALTORS) and your local Board; this class, which ranges from 3-6 hours in most places, counts towards your electives. 
• CREC does not “magically” know about the classes you attend; there is no state-wide tracking system.  At the time CREC audits you for your education credits, then you will be required to provide proof (your CE certs, so don’t lose them!) of your classes.
• If you don’t have the required 24 hours, CREC may place you inactive.  BUMMER! Inactive means no practicing real estate, no commission checks, and no E&O insurance coverage.  If you missed one of the CREC Mandatory Updates, your options are even less appealing (like taking the state portion of the exam again, or attending the three-day Broker Administration course), so please do not miss a CREC Update!
• The requirement for 24 hours of CE begins the day you receive your license; you do NOT have a “freebie” first year (another old tradition that’s dying a slow death).  Apparently there are still a few folks out there preaching the “free first year”, but that ended years ago.  So for those of you who are newer, make sure you’re attending those CREC Mandatory Updates!

It saddens me that education needs to be a requirement.  Imagine what a beautiful world this would be if Brokers simply WANTED to better themselves voluntarily!  Don’t stop at the minimum of 24 hours, go above and beyond.  Seek classes that interest and inspire you to provide services to your Buyers and Sellers.  Get the most out of your classes, and in turn you’ll get the most out of you!