During a CREC investigation, a Colorado broker is found to have made a material misrepresentation to a buyer regarding the zoning classification of a commercial property, causing the buyer to suffer financial loss. Under C.R.S. § 12-10-217, which of the following disciplinary outcomes is CREC authorized to impose?
Correct Answer
C) Censure, probation, suspension, or revocation of the broker's license.
Under C.R.S. § 12-10-217, CREC is authorized to impose a range of administrative disciplinary sanctions including censure, probation, suspension, and revocation of a license. Material misrepresentation is an explicit ground for discipline under the License Act. CREC may also impose fines and require additional education as part of a disciplinary order.
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FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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