Which group is bound by Colorado Real Estate Commission rules?

Which group is bound by Colorado Real Estate Commission rules?

• A. The general public
• B. Unlicensed assistants
• C. Only licensed brokers bound by Commission rules
• D. Buyers and sellers

Answer: (C)

Colorado Real Estate Commission rules bind those who hold real estate licenses. The Commission licenses and oversees brokers and broker associates, sets requirements for education and professional conduct, and can discipline licensees for violations. Because of this, the rules govern how licensed real estate professionals must act in transactions. The general public and buyers/sellers aren’t bound by the Commission’s rules themselves; they rely on licensees to adhere to them. Unlicensed assistants aren’t licensed by the Commission and aren’t subject to its licensing discipline in the same way, though they must work under the supervision of licensed professionals and follow applicable laws. So the group actually bound by these rules is the licensed brokers and other licensees.

Colorado Real Estate Commission rules bind those who hold real estate licenses. The Commission licenses and oversees brokers and broker associates, sets requirements for education and professional conduct, and can discipline licensees for violations. Because of this, the rules govern how licensed real estate professionals must act in transactions. The general public and buyers/sellers aren’t bound by the Commission’s rules themselves; they rely on licensees to adhere to them. Unlicensed assistants aren’t licensed by the Commission and aren’t subject to its licensing discipline in the same way, though they must work under the supervision of licensed professionals and follow applicable laws. So the group actually bound by these rules is the licensed brokers and other licensees.