maryleizinger wrote: "We need to make the law fit real estate as it is practiced today instead of trying to make real estate fit outdated laws." ----------------------------------------------------------- I have predicted for the last couple of years that we would see all states go to a "one license" system such as this. This case will give added impetus to this movement. Colorado is the first state to make all of their licensees "Brokers". From: http://www.dora.state.co.us/real-estate/license/licinfo.htm ----------------------------------------------------------- Colorado license law acknowledges three levels of responsibility and authority. Associate Broker: This is the entry level license for real estate brokerage. An Associate Broker may hold an inactive license or be employed and supervised by an Employing Broker. No previous active real estate licensure is required to practice at this level of responsibility. Independent Broker: An Independent broker can be inactive, self-employed(without employing other licensees) or practice under the supervision of an Employing Broker. Two years of active licensure are a prerequisite for this level of licensure Employing Broker: An Employing Broker can have an inactive licensure, practice independently or employ (and is required to supervise) other licensees. ----------------------------------------------------------- The caveat for agents is that they "may" no longer be protected by the Brokerages E & O insurance since they are now Brokers who may be considered as acting on their own instead of acting on behalf of the Broker. Advantages for the big Brokerages: Lowers the Brokerage's costs by shifting the all of the E & O insurance premium to the "New Broker". Buyers/Sellers are less likely to sue since the "New Broker's" pockets are not as "deep" as the Brokerage's. The Brokerage can dump the "New Broker" in case of a lawsuit since it is the "New Broker", not the Brokerage (or the old "BROKER") who is being sued. They can claim that you were acting on your own and they are not liable. "Careful what you ask for, you may get it." Thank you, Bill Tolle ---------------------------------------------------------------- ExclusiveBuyersAgents.com 100% Loyalty To Home Buyers 100% Of The Time! 1-800-304-7199 - (409) 384-9094 http://ExclusiveBuyersAgents.com mailto:BillTolle@ExclusiveBuyersAgents.com

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