The Colorado Division of Real Estate announced that real estate licensing fees have increased effective November 15th. The fees published on the DRE website show that the Division of Real Estate has increased fees for initial licensure and the base rate renewal for licensees. All factors point to the increases being due to a continuous drop in licensees since 2007. The number of appraisers has declined as much as 20% of renewing licensees each year while real estate license renewals have decreased around 5% per cycle.
If you need to verify that you have completed your renewal requirements, or if you would simply like to review those requirements, visit our Colorado License Renewal information page online at http://VanEd.com/Renew. All of the information necessary to renew your Colorado real estate license can be found on that page. You can find the fee structure online by clicking here.
The increase in initial license application fee (from $400 to $480) comes just a year after the fee increased 100% from $200 to $400. Base Rate renewals are up to $138 from $116 just two years after having been $60. In essence, the DRE is a 100% cash funded program, which means that the fees they charge must cover the operating expenses of the division. With a drop in licensees and an increase in complaints, the division is experiencing a shortfall in revenue that by law must be balanced. The new fee schedule is designed to only maintain the current budget and not to increase the size or scope of the division.
VanEd offers all of the required continuing education for real estate, appraisal and mortgage loan officers online.