Attorney Jack Stokan recently obtained a favorable result in a real estate licensing matter filed with the Colorado Department of Regulatory Agencies. Jack’s client, a real estate broker, was accused of severe infractions that could have resulted in revocation of his real estate license, as well as criminal penalties. The real estate broker assisted his clients by funding a remodel of their home to prepare the home for sale and avoid foreclosure. He found a buyer and closed on the sale, reducing his costs from the settlement. Despite avoiding foreclosure and financially gaining from the sale, the real estate broker’s clients were not pleased that their real estate agent was paid from the sale proceeds. The real estate broker’s clients filed a damaging administrative licensing complaint with the Colorado Department of Regulatory Agencies. After the investigatory phase, the Colorado Division of Real Estate identified numerous licensing infractions and demanded substantial penalties to resolve the case. Mr. Stokan negotiated with the Division to reduce the breadth of the infractions and severity of the penalties.
