Fees Triple for Real Estate Agents - This is a must Read.

This may be old news for some, but The Real Estate commission in Colorado recently tripled our fees from 100 to 300 dollars.

Here is the reason they Give:

New Fee Schedule Background
"The Division is cash funded and does not receive any subsidy or other appropriation from the State General
Fund. As a cash funded agency, statute requires the Division to adjust program fees to generate sufficient
revenue to cover costs. In Colorado, all real estate program costs are 100% cash funded.
The Division of Real Estate has been able to keep fees low for the past several years. However, the Division
has experienced a 60% decline in new license applications in the past year. Since a decline in applications
means a decline in the fees received, overall revenue is no longer sufficient to fund the annual costs of the
program. To fund the approximately $4.1 million cost of the program, the Division must increase fees. Fees
are used only to fund the Division’s operating costs each year, and the Division cannot use excess revenue."

Here is the question that I have for them and any other State that does this to their Real Estate Agents, Mortgage Brokers and Appraiser's. What steps did this agency take to scale back their costs? For example, did they lay anyone off to help with the decrease in revenue. If there are less agents, shouldn't that mean you need less people? Why is it in a recession that the people have to cut back and modify their lifestyle, but the government never does, no they increase their size and spending.

Am I the only one bothered by this "willy nilly" drastic increase? Looks like the Real Estate Commission could use some regulation themselves. UNBELIEVABLE!!!

Your thoughts? Are other states doing this to their agents? Or is it just Colorado?

All the Best,

Steven Wright

My New Website (I just rebuilt my website, tell me if it was worth my time and effort)