Division of Real Estate Division of Real Estate State of Colorado DORA


Marcia Waters, Director

  Ms. Waters serves as the administrator for the Real Estate Commission, the Board of Real Estate Appraisers, the Board of Mortgage Loan Originators, the Conservation Easement Oversight Commission and the HOA Information and Resource Center.

The Division of Real Estate is the regulatory agency responsible for licensing approximately 50,000 real estate professionals and ensuring their compliance with the license law.  Ms. Waters manages the Division’s $5.9 million budget, oversees a staff of approximately 51 full-time employees, and establishes the direction of Division programs based on market and industry trends.

Ms. Waters started with the Division in 2005 as a criminal investigator for the Real Estate Commission.  She also served as the chief investigator for the Real Estate Commission and supervised a staff of nine investigators.  In 2007, Ms. Waters was promoted to the position of Investigations and Compliance Director.  She was responsible for overseeing all investigative programs within the Division, along with implementing a new Expedited Settlement Program.  Prior to working for the Colorado Division of Real Estate, Ms. Waters was a police officer on the Lafayette Police Department for approximately eight years, serving as a detective for four and one-half years in the general crimes and family crimes units.  Ms. Waters has also investigated welfare fraud for the Adams County Department of Social Services, and she has also worked as a Bond Commissioner at the Boulder County Jail.  She gained valuable experience in the real estate industry as a real estate broker serving the Boulder County area. 

Ms. Waters received her B.A. in Sociology from the University of Colorado in Boulder.  Her goal at the Division of Real Estate is to protect the Colorado consumer through fair enforcement and responsible regulation of real estate professionals.

Consumer Protection