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As easy as 1-2-3…
Renewing your license requires three major steps: education, E&O, fingerprinting
The clock is ticking fast if your real estate license expires at the end of the year.
This year, for the first time, not only must you meet your education requirements and renew your Errors and Omissions insurance, but you must also complete a criminal history check by submitting your fingerprints to the Colorado Bureau of Investigation.
The time is now to ensure that you don’t miss any crucial deadlines. Remember, if your license expires at the end of this year, it must be renewed by Dec. 31, 2005. There is no grace period that allows you to practice without a license.
Follow this license renewal checklist…
- Check the expiration date on your license.
- Arrange to have your fingerprints taken.
- Renew your errors and omissions insurance (Can be done online with renewal. Remember there are two policies if Corporation, Partnership or LLC).
- Make sure your continuing education is complete (Neither AAR nor the Colorado Real Estate Commission (CREC) maintains individual members’ CE records. AAR does keep records of classes completed at the Association office and on its Web University.).
- Update your home address with Commission (can be done online with renewal).
- Renew your license online (If done online, confirmation received, license received sooner, no hassle, available anytime, anywhere).
After Nov. 1, 2005, you can visit the CREC website and renew your license online with a MasterCard, Visa, Discover or American Express credit card. Your renewal fee must be received by Dec. 31, 2005. Or, you can send a check to CRECoffices at 1900 Grant Street #600, Denver, CO 80203. Your renewal fee must be received by Dec. 31, 2005; remember to include your license number on your check.
 Fingerprinting
As of July 1, 2005, a fingerprint-based criminal history record check must be completed through the Colorado Bureau of Investigation (CBI) prior to renewal. Licensees renewing in 2005 must complete this process in a timely manner and have the process completed and paperwork to CBI prior to Dec 31, 2005. No action against licensure will be taken because of CBI and FBI processing issues.
The CREC website outlines full guidelines for this one-time fingerprint check, including complete instructions on how and where to submit your fingerprints. Visit http://www.dora.state.co.us/real-estate/whatnew/renewalnotice7-19-05.pdf.
 E&O Insurance
If you are active and your license expires Dec. 31, 2005, you must have a current errors and omissions insurance policy in order to remain on active status pursuant to Commission Rule D-14.
If you have independent E&O coverage, check with your insurance agent on your expiration date.
The Commission has contracted with Rice Insurance Services Company, LLC (RISC) to administer the group Errors & Omissions (E&O) insurance program for Colorado licensees. Additional carriers are listed on the CREC website at http://www.dora.state.co.us/real-estate/EandO/Independent.htm.
Licenses will be placed inactive for E&O non-compliance. Make sure that not only you are in compliance, but that your broker and their business entity are as well. Failure of one of the three to acquire E&O insurance can result in your license being placed inactive.
 Continuing Education
The CREC requires that all licensees take the Three-Hour Update Course every year as part of the mandated 24 hours of continuing education credit.
Follow these guidelines to ensure that you fulfill CREC requirements by taking the Three-Hour CREC Update Course and additional elective credits:
If your license expires…
Dec. 31, 2005 – Complete the Three Hour Commission Update Course in each year of 2003, 2004, and 2005, plus 15 hours of electives taken in 2003, 2004, or 2005.
Dec. 31, 2006 – Complete the Three Hour Commission Update Course in each year of 2004, 2005, and 2006, plus 15 hours of electives taken in 2004, 2005, or 2006.
AAR has a full slate of CREC Update Courses to fit your busy schedule, including evening and weekend times and dates. Tuition is $25 for Realtor® members and $40 for all others .
Nov. 18 1 p.m. - 4 p.m. Steve Stazel
Dec. 1 6 p.m. - 9 p.m. Don DiFiore
Dec. 7 1 p.m. - 4 p.m. Lane Mueller
Dec. 12 1 p.m. - 4 p.m. Steve Stazel
Dec. 17 10 a.m. – 1 p.m. Mickey Sanders
Dec. 19 6 p.m. - 9 p.m. Don DiFiore
Jan. 10 9 a.m. – Noon Steve Stazel
May 16 9 a.m. – Noon Steve Stazel
To register, visit www.AuroraRealtors.org and click on the Education section for a form to print and return; or call AAR at (303) 369-5549 to have a registration form faxed to you.
Information included in this article from the Colorado Real Estate Commission website.
Under fingerprinting.
As of July 1, 2005, a fingerprint-based criminal history record check must be completed through the Colorado Bureau of Investigation (CBI) process prior to renewal. Licensees renewing in 2005 must complete this process in a timely manner and have the process completed and paperwork to CBI prior to Dec 31, 2005. No action against licensure will be taken because of CBI and FBI processing issues.
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