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Metro Brokers Patrick Armbrust is the expert on Colorado DORA rules and Regulations. Confused about who, what, where and HOW to upgrade from a Broker Associate Colorado Real Estate License to becoming an Independent or Employing Real Estate Broker. Watch this six minute video for all of your answers.
Kathy Soltero: Hi, I am Kathy Soltero with Metro Brokers
TV. Today we have the distinct pleasure
of having Patrick Armbrust with us from Metro Brokers Southridge Realty, as
well as Armbrust Real Estate Institute, thanks so much for coming in with us today
and talking to us.
Patrick Armbrust: My pleasure.
Kathy Soltero: One of the things that we are going to
talking about today and the most important thing is becoming or upgrading your
broker associate license to becoming an independent broker.
Patrick Armbrust: Yes.
Kathy Soltero: Or an employing broker and there is so much
confusion about this Patrick so.../
Patrick Armbrust: Yes there is.
Kathy Soltero: Explain that to me, why is there so much
confusion?
Patrick Armbrust: Well I think it goes back to the law changes
Kathy in 1997. Prior to those years
people were either sales persons or brokers in Colorado and everyone in 1997 had to upgrade
to a broker at that time and the existing sales people had two choices
then. They could either complete the
broker transition course or pass the state portion of the exam. Well now today people that have most folks
chose the transition course that was the easier path and now today as so many
people are joining Metro Brokers who are licensed prior to 1997 and completed
the transition course, they are being told now that they have to pass the state
portion of the exam to upgrade themselves to an independent broker or an
employing broker.
Kathy Soltero: Okay so if I get this straight, if you are a
licensed prior to 1997...?
Patrick Armbrust: Correct.
Kathy Soltero: And you just took that one exam or that one
the transition course...?
Patrick Armbrust: The transition course, yes.
Kathy Soltero: You could be a broker then?
Patrick Armbrust: You would upgrade at that point to a broker
associates.
Kathy Soltero: Okay.
Patrick Armbrust: And then later upgrading to independent
broker or employing broker as so many people are joining Metro Brokers as
independent or employing now they have to take that state exam.
Kathy Soltero: What made this all happen?
Patrick Armbrust: Well I think it was the opinion of the real
estate commission that they wanted to raise the bar in real estate and provide
the public a higher level of competency.
Prior to 1997 it was relatively easy to get your real estate license I
believe it was 90 hours of education.
Since 1997 its a 168 hours, those people by the way have come into the
business since 1997 with two years as an active licensee, then they can go
ahead and upgrade to independent for a 24 hour course and they can upgrade to employing,
so its very easy if you are licensed after 1997, the confusion comes for those
that were licensed before that time.
Kathy Soltero: So it's all of us before because we kind of
all after that we all were instructed what it would take.
Patrick Armbrust: Agreed yeah.
Kathy Soltero: Okay so what happens to the folk's post 97,
if for instance they missed some of the classes and that sort of thing, I mean
why is that make that any more difficult than [Voice Crossover]?
Patrick Armbrust: That's another big issue that we are seeing
today Kathy is the real estate commission wants all current licensees in
Colorado to complete the four hour commission update course each year. They feel that doing that will keep us all up
to date on forms changes, law changes and so a couple of years ago of the 24
hours that we were used to completing in our three year cycle, now 12 hours of
that has to be the commission update course taken once each year in a different
version of that course each year. Well
if a licensee misses a year, then the choice is to renew your license become
much more difficult, they go back to taking the state portion of the exam to
renew a broker's administration course which his the course that you would be
required to be an employing broker.
Kathy Soltero: Right.
Patrick Armbrust: You could, you could complete that course but
only once in your career. So often we
have exhausted that possibility in our last licensing cycle and so that leaves us
to either as I said the state exam or 72 hours of pre licensing education. So I think its very important that our
current licensees remember to take that commission update course once each year
and we recommend about the same time each year that way you know you are
getting a different version each time and you are going to fulfill that portion
of the requirement and then you take 12 hours of qualifying elective continuing
education and we don't have a proper renewing your license.
Kathy Soltero: Okay is there any distinct difference between
becoming an independent broker or an employing broker as far as what the
requirements are?
Patrick Armbrust: Well I think the only difference is the
brokerage administration course. To go
independent with two years active and presuming the state exam has been
completed either prior to 1997 or today to go independent is a simple matter
making application to the state and paying a fee. To employ and supervise licensees then you do
have to complete the 24 hour brokerage administration course.
Kathy Soltero: And that's post 97 or...?
Patrick Armbrust: Anyone.
Kathy Soltero: Anyone?
Patrick Armbrust: Yes.
Kathy Soltero: Who wants to be an employing broker period?
Patrick Armbrust: Yes and I think brokers today they, if there
is any question at all they can call an institution like ourselves they can
look up their records on the commission's database, there is opportunity to
call the real estate commission and they can pull up the records and then
identify if a brokerage administration course is needed for instance or
identify that state exam component, but typically most brokers went through
that transition course post, pre 1997 and probably have to complete their state
exam today to move forward.
Kathy Soltero: Well and the CREC is the requirement that we
need to take to though I mean we have only been doing that probably well for
the last nine years?
Patrick Armbrust: Well its been sometime but the rules have
changed in terms of the frequency, the Colorado Real Estate Commission update
course is what you refer to and that's, that's that four hour course that you
want to make sure to take every single year.
Kathy Soltero: Right.
Okay so bottom line, is it difficult for us to do this it just seems
like we call the real estate commission we can't figure out what do we do?
Patrick Armbrust: I don't think so, once we understand the
rules we can play the game.
Kathy Soltero: Okay.
Patrick Armbrust: So really the biggest question that I have to
do with day to day counseling people in this issue, is when would if you were
licensed before 1997 how did you transition from a sales person to an associate
broker? If the answer was the broker
transition course, then to move forward to independent and employing we just
have to get you ready to pass that state exam.
If you are licensed after 1997, or took the state exam as you are
transitioned, then it's very, very easy.
Kathy Soltero: All right well Patrick hopefully we have
clarified some of this...?
Patrick Armbrust: I hope so.
Kathy Soltero: For so many people out there who are maybe
thinking of joining Metro Brokers and...?
Patrick Armbrust: Absolutely.
Kathy Soltero: And having their own business as a broker
manager or is an independent broker themselves?
Patrick Armbrust: Either one yeah.
Kathy Soltero: Thank you so much for joining us two on Metro
Brokers TV.
Posted on November 12, 2009 11:07:50 by  Scott.Shields
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