When asked the famous question, "can I do commercial / land / mountain transactions?", Equity Colorado Real Estate refers to the Colorado Real Estate Commission's policy on Competency in Real Estate Practice:
Real Estate Commission’s Definition of COMPETENCY: "Understanding facts, truths, and principles gained from formal training and / or experience." When a Real Estate Broker does not have the competency to properly guide a client, the client's interests ARE NOT protected.
(Excerpt From the 2021 Annual Commission Update Course)
While licensees are technically allowed to work commercial, land, mountain, and other complicated transactions, the Colorado Real Estate Commission (and Equity Colorado Real Estate) DOES NOT ALLOW licensees to step into uncharted territories of business without proper experience, training, and knowledge of said territory.
For a more in-depth look at competency, CLICK HERE to download the slides from the 2021 Annual Commission Update titled "Competency in Real Estate Practice”.
