What authority does the Real Estate Commission have regarding licensees?

The Real Estate Commission has the authority to audit or investigate licensees without advance notice as part of its regulatory responsibilities. This ability is crucial for maintaining the integrity of the real estate profession and ensuring that all licensees adhere to Colorado's real estate laws and regulations. By being able to perform audits and investigations without prior notification, the Commission can more effectively identify any potential violations or unethical behavior among licensees. This function promotes accountability within the industry and helps protect consumers from malpractices.

The other options, while they may seem viable in the context of real estate operations, are not within the direct authority of the Real Estate Commission. Approving new license applications is a more structured process involving review criteria set forth by the Commission but does not apply to the day-to-day investigative capabilities. Mediation of disputes generally falls under the jurisdiction of different legal entities or organizations, such as professional associations or courts. Lastly, while providing training and education is beneficial for new agents, this responsibility often falls to individual brokerages or real estate schools rather than the Commission itself.