DORA's Autumn Newsletter: Key Updates on Forms & Position Statements

The Colorado Division of Real Estate's latest autumn newsletter includes two crucial updates that will impact your business. The changes involve a major shift in how real estate forms are created and important clarifications to Commission Position Statements. View Newsletter Here.

Here’s a quick summary of what you need to know:

1. A 50-Year Shift in the Real Estate Forms Process

After relying on a long-standing committee process, the Division of Real Estate is moving to a new system for creating state-approved forms. This change aims to increase consumer protection, incorporate a wider range of expert feedback, and produce contracts that are clearer and easier for the public to understand. The Division encourages any broker with recommendations for form improvements to use the official feedback form to submit their suggestions.

• Submit Your Feedback: Have an idea to improve a form? The Division wants to hear from you. You can submit suggestions directly via this link: Colorado Real Estate Commission Forms - Suggestion Form.

2. Updates to Position Statements on Conflicts & Confidentiality

The Division stresses that reviewing and understanding these statements is an essential part of a broker's professional responsibility.

Position Statements provide official guidance on how to apply real estate law and are considered a series of "best practices" that the Commission expects all licensees to follow. To review all position statements, you can visit the Real Estate Manual, Program Rules and Position Statements webpage on the Division's website. 

The two recent changes are:

• CP-22 (Amended) – Conflicts of Interest: This statement has been updated to provide clearer guidance on identifying and disclosing conflicts of interest—a topic the Division notes is a common issue in investigations.
• CP-31 (New) – Managing Confidential Client Information: This is a brand-new statement that provides crucial guidance for employing brokers on how to properly handle confidential information when a designated broker needs to consult with others.

All members should review these changes to ensure their practices are aligned with the Commission's official guidance. The complete text of these and all other position statements are available on the Division's website.