Managing Brokers play an important role in the REALTOR® organization. When a Broker joins an association and becomes a REALTOR®, they also become an integral part of helping their agents become REALTORS®. The National Association of REALTORS® (NAR), the Colorado Association of REALTORS® and SMDRA provide additional support to Managing Brokers.
Dues Responsibility of Managing Broker/Owners
Commonly referred to as the “Dues Formula”, NAR Bylaws state the Managing Broker’s dues are equal to the number of agents in their office times the dues amount. Since we bill each REALTOR® individually, the Managing Broker’s dues are reduced each time a dues payment is made by an agent.
We audit the Primary and Secondary offices with SMDRA memberships throughout the year to help keep you compliant. When agents are found to be inactive or have no REALTOR® membership, but should be active, we will send an email and a letter to the Managing Broker with the list of agents. This helps keep communication between SMDRA and the Managing Broker open so there are no dues surprises.
Resources for Managing Broker/Owners
Real Estate Broker Licensee Advisory: License Expiration Date Transition As a result of SB17-215 (Concerning the Continuation Under the Sunset Law of the Division of Real Estate), a real estate broker license will now be renewed on or before December 31 of every third (3rd) year after issuance. All licensees will eventually be on a calendar year cycle for their license renewal. In order to accommodate this transition to a calendar year cycle, the Division of Real Estate has established a transition period for license renewals and reinstatements. What does this mean for you? LEARN MORE HERE
South Metro Denver REALTOR® Association
SMDRA’s Annual Broker Breakfast is held each spring to bring you valuable information about membership and issues affecting real estate locally. This free breakfast features a speaker and open forum.