DIRECTOR OF THE CO DIVISION OF REAL ESTATE

marciawaters

Marcia Waters, Director of the Colorado Division of Real Estate

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Changes to the Commission’s Forms Process

The Real Estate Commission has been promulgating forms for real estate brokers to use since the 1970s. The Real Estate Commission’s Forms Committee (the “Forms Committee”) has existed in some iteration during that time as well. The Forms Committee has been comprised of volunteers from different aspects of the real estate industry – real estate attorneys, real estate brokers, industry educators, and trade association representatives. The Forms Committee has done an amazing job at creating a prolific library of Commission-approved forms for real estate brokers to use in their representation of the public.

After over fifty years of the existing process, the Division of Real Estate identified some concerns with the forms process, which necessitated some changes over the past year. Ultimately, the authority to promulgate the forms, including revisions or new forms, rests with the Real Estate Commission. The Real Estate Commission is also responsible to the public for ensuring that consumers are protected in their dealings with real estate brokers, including ensuring that the contract provisions do not favor licensees over the public. This year, the drafting of the forms transitioned from the Forms Committee to Division staff. We have a licensed attorney who has been reviewing and revising the forms as directed by the Real Estate Commission. The Division engaged experts beyond those on the Forms Committee to assist with different form modifications. The Division’s plan to move forward is to gather more feedback from a variety of experts, and to make the forms process more inclusive than it was previously. The Division will focus on creating plain language forms that are easier for consumers to understand.

Once the Real Estate Commission finishes approving the forms submitted for consideration this year, the Division will host a virtual presentation for interested parties to learn about the changes that will go into effect on January 1, 2026. Unlike a contracts class, this presentation is not designed to train people about how to complete the forms. The presentation will explain the changes that were made and why they were made. The presentation will be free, and the Division is evaluating the ability to provide continuing education credit for those who attend. As the Commission works through its library of forms, Real Estate Brokers will notice some changes to the headers on the forms. The Commission is modifying those to make it easier for licensed professionals to identify when the forms were approved and the effective dates. The Division is adding proprietary language to the Commission-approved forms to protect the intellectual property of the Commission. Finally, forms providers will have to sign a license agreement to distribute the Commission-approved forms across the different software platforms. This will aid the Division in ensuring that the forms providers are using the correct versions of the forms. The Division will continue to provide the forms on its website at:

The Division maintains an open suggestion form for all Commission-approved forms. If you have comments or suggestions for changes, please submit those here:

Marcia Waters has been with the Colorado Division of Real Estate since August 2005.

Ms. Waters started with the Division as a Criminal Investigator for the Real Estate Commission and was promoted to Chief Investigator in 2006. In 2007, she was promoted to the position of Investigations and Compliance Director. In that capacity, she managed the investigatory and settlement programs for the Division. On October 15, 2010, she was promoted to the position of Division Director. The Division of Real Estate licenses and regulates approximately 50,000 real estate professionals. Ms. Waters serves as the administrator for the Real Estate Commission, the Board of Real Estate Appraisers, the Board of Mortgage Loan Originators, and the HOA Information and Resource Center.

Ms. Waters manages the Division’s $6.5 million budget, oversees a staff of approximately 60 full-time employees, and establishes the direction of Division programs based on market and industry trends.