On October 16, 2024, the Colorado Division of Real Estate issued a Final Agency Order revoking the real estate broker license of JoLinda Wilson. Wilson operated as a broker with an office at 310 18th Street in Greeley, Colorado.
The action followed an investigation by the Division of Real Estate, part of the Department of Regulatory Agencies (DORA), after complaints were received about Wilson’s conduct. The Colorado Real Estate Commission directed the Division to investigate, leading to case number RC 2024-0005 being filed with the Colorado Office of Administrative Courts on March 8, 2024. An Initial Decision was made by the Office of Administrative Courts on September 11, 2024, and a Final Agency Order was later issued.
Investigators found that Wilson listed a property in Greeley for $10 million and required buyers to provide large earnest money deposits—$100,000 and $500,000 respectively—for two separate transactions. Both deals failed to close. In each instance, Wilson did not return the earnest money deposits to the interested buyers and instead used some of those funds for personal expenses. The investigation determined that Wilson failed to properly account for these deposits and was not entitled to keep them once the transactions ended.
A separate investigation revealed that Wilson owned Pearl Societies, Ltd., an estate sale company registered at the same address in Greeley. After conducting an estate sale for a client who paid $500 upfront, Pearl Societies did not provide any proceeds from the sale to the client. The client obtained a default judgment against Pearl Societies in Larimer County District Court for $48,222.28.
Director Marcia Waters commented on the outcome: “Division of Real Estate investigations, like this one, require thorough research and cooperation with the Office of the Attorney General and other law enforcement agencies. This Final Agency Order is a prime example of where Division investigators, leading the charge, obtained a timely and effective resolution which protects the public from future harm. Controlling law and regulations clearly set forth the requirements for the broker profession, but in particular, when they hold money for the benefit others. Abuse by a licensee of these requirements and the public’s trust is unacceptable.”
The Division emphasized its limited jurisdiction over such matters; it can enforce license law against real estate licensees but cannot seek civil restitution or release investigative details due to statutory restrictions.
Consumers who believe they have been affected by similar actions are encouraged to file complaints through https://dre.colorado.gov/, consult with licensed attorneys via resources like cobar.org or by calling (303) 860-1115 at The Colorado Bar Association, or contact local law enforcement agencies where their property is located.
