Steps to Get a Colorado Real Estate License
- Complete 168-Hours of Pre-Licensing Courses.
- Pass the Pre-License Course Final Exam.
- Pass the Real Estate Exam.
- Submit Fingerprints and Complete a Background Check.
- Provide Proof of Errors Omissions Insurance.
- Apply for Your License.
- 1 How much money does a real estate agent make in Colorado?
- 2 How hard is the Colorado real estate exam?
- 3 What disqualifies you from being a real estate agent in Colorado?
- 4 Is it worth it to become a real estate agent?
- 5 How much do beginner real estate agents make in Colorado?
- 6 How long does it take to become a realtor in Colorado?
- 7 How long is a Colorado real estate license good for?
- 8 How many times can you fail the Colorado real estate exam?
- 9 How much does it cost to take the Colorado real estate exam?
- 10 How much does it cost to become a real estate agent?
- 11 Why I quit being a real estate agent?
- 12 Is real estate a dying career?
- 13 What type of Realtors make the most money?
- 14 How To Get A Real Estate License In Colorado In 6 Easy Steps
- 15 Get Your License Online
- 16 How Do I Get My Colorado Real Estate License?
- 17 1. Must be at Least 18 Years of Age
- 18 2. Register for 168 Hours of Required Education
- 19 4. Complete Your Required Education
- 20 5. Register For and Take the Broker Licensing Exam
- 21 6. Find a Sponsoring Broker
- 22 How to Get Your Real Estate License in Colorado?
- 23 Real Estate Express Courses Fulfill Your Colorado License Requirements
- 24 How to Become a Real Estate Agent in Colorado
- 25 1. Meet the State’s Legal Requirements
- 26 2. Complete Required Prelicensing Courses
- 27 3. Get Your FingerprintsBackground Check
- 28 4. Take the Exam
- 29 5. Pick a Company to Work for
- 30 6. Acquire ErrorsOmissions Insurance
- 31 7. Apply for Your License
- 32 8. Start Your Real Estate Career
- 33 Colorado Real Estate License
- 34 How to Become a Real Estate Agent in Colorado
- 35 6 Steps to Getting a Colorado Real Estate License
- 35.1 Step 1. Meet the Education Requirement
- 35.2 Step 2. Pass the Background Check
- 35.3 Step 3. Schedule and Pass the Colorado Real Estate Broker’s Exam
- 35.4 Step 4. Get E O Insurance
- 35.5 Step 5. Gather Together the Required Application Documents
- 35.6 Step. 6 Apply for a New Colorado Real Estate Broker License
- 36 Real Estate School
- 37 TOP-RATED 3 Online Real Estate Schools in Colorado – 2022
- 38 How to Become a Real Estate Agent
- 39 Why Become a Real Estate Agent?
- 40 Steps to Becoming a Real Estate Agent
- 41 Step 1: Research Your State’s Requirements
- 42 Step 2: Take a Prelicensing Course
- 43 Step 3: Take the Licensing Exam
- 44 Step 4: Activate Your Real Estate Agent License
- 45 Step 5: Consider Becoming a Realtor
- 46 Step 6: Join a Real Estate Brokerage
- 47 The Bottom Line
- 48 How to get a Colorado real estate license in 6 steps – ASAP
How much money does a real estate agent make in Colorado?
The average salary for a real estate agent is $91,064 per year in Colorado. 6
How hard is the Colorado real estate exam?
The Colorado Real Estate Salesperson Exam is one of the hardest state test to pass in the United States. We have compiled this simple exam cram book that quickly and easily prepares you to take your state licensing exam and pass it on the 1st try with the PSI exam.
What disqualifies you from being a real estate agent in Colorado?
Colorado realtors may have their real estate licenses suspended or revoked if they get convicted of a Colorado felony. And having a criminal past can prevent aspiring agents from getting a license in the first place.
Is it worth it to become a real estate agent?
Choosing to become an estate agent is no longer a stop-gap or part-time job, but a real career choice with excellent prospects. It is an option definitely worth considering for graduates and school leavers, especially those with ambition, drive and initiative and who enjoy dealing with people.
How much do beginner real estate agents make in Colorado?
Wages typically start from $21,230 and go up to $120,620.
How long does it take to become a realtor in Colorado?
How Long Does It Take to Get a Real Estate License in Colorado? The entire process from taking the required education to receiving your license takes anywhere from 2 to 4 months. While VanEd students have a full year to complete their coursework, most finish in less than 6 months.
How long is a Colorado real estate license good for?
Colorado Broker licenses must be renewed every three years.
How many times can you fail the Colorado real estate exam?
Yes. You can retake your real estate broker exam as many times as necessary to pass. If you pass one section and not the other, you can retake just the failed section. Just know that your passing section score is only valid for (1) year for your broker license application.
How much does it cost to take the Colorado real estate exam?
The Colorado Broker Exam fee is $44.95. If you fail the exam and need to retake it, you must pay an additional fee of $42.50.
How much does it cost to become a real estate agent?
As a real estate agent, you’ll be required to be licensed by the state in which you plan to practice, and you can expect to shell out around $2,000 over the course of becoming licensed.
Why I quit being a real estate agent?
Most new real estate agents quit their first year because of the emotional toll of “fear of failure” and rejection. Nobody likes to feel rejected. Rejection is part of the job but remember that people are not rejecting you. They are rejecting the notion of buying or selling at that time.
Is real estate a dying career?
Real estate isn’t a dying career. In fact, there are more real estate agents in 2021 than perhaps ever before. However, the field is changing dramatically, with the advent of online marketing, VR and virtual tours, and easy online paperwork.
What type of Realtors make the most money?
Real Estate Broker A real estate broker is permitted under law to negotiate and organize real estate dealings. A career as a real estate broker is one of the highest paying and lucrative professions in the real estate industry. On average, experienced brokers take home a six-figure pay.
How To Get A Real Estate License In Colorado In 6 Easy Steps
Our team is here to help you through the process of obtaining your Colorado real estate license, which may appear difficult at first glance. Continue reading to discover about the six stages you’ll need to take to complete your real estate career in Colorado. To find out how much it will cost you to obtain your real estate license in Colorado, please see our Colorado Pre-Licensing Pricing page. Purchase your Colorado Pre-Licensing Certificate »
- To begin, you must successfully complete a 168-clock-hour Pre-Licensing course that has been approved by the state. Find out more about the many package options available to you here. In order to obtain a Colorado real estate license, licensed attorneys, those who have earned a bachelor’s degree from a university with a major course of study in real estate, former licensees, or those who currently hold a valid license in another jurisdiction should consult the DORA Division of Real Estate website and the license qualification grid, which outlines the education and examination requirements in detail for each candidate’s unique situation.
Pass the course final exam.
- You must take and pass a course final exam at the conclusion of each semester in order to graduate. Depending on the duration of the course, the final exam for each course will have either 20 or 50 questions. After finishing the whole 168-hour program, you will be required to sit for the program’s final test. Final test consists of 100 state-specific questions and 100 national questions, with a passing score of at least 75% required to pass.
Pass the Colorado Real Estate Broker License exam.
- Following that, you’ll sit for and pass the Colorado Real Estate Broker Licensing Exam, which is conducted by PSI (Professional Standards Institute). An 80-question National component with a 120-minute time allocation is followed by a 74-question State section with a 110-minute time allowance on this test. Please visit the PSI Candidate Information Bulletin for further information. As an alternative to taking the license exam in person at a testing facility, the state of Colorado now offers the option of completing it online. There will still be on-site testing accessible for students who choose to take the exam in person rather than online, according to the Professional Standards Institute (PSI). You can make an appointment to take a test through the PSI exam portal. Candidates from Colorado can contact PSI at (855) 744-0313, which is a designated line for scheduling and any matters related to their exam. The cost and duration of the exam are the same whether the exam is proctored online or in person at a facility. If you need assistance passing your real estate test, The CE Shop offers comprehensive Exam Prep that is specifically targeted to Colorado requirements.
Complete a background check.
- The Colorado Bureau of Investigation will need you to submit a set of fingerprints after that. These fingerprints are used to conduct a fingerprint-based criminal history background check in Colorado and the United States, using records from the Colorado Bureau of Investigation and the Federal Bureau of Investigation.
Acquire errors and omissions (E O) insurance.
- You must have an E O insurance coverage in place before you can be granted a valid license to practice. More information may be found by clicking here.
Complete the application.
- The Colorado Division of Real Estate’s Online Services uses eLicense to process new licensee candidates’ applications for broker licenses as well as to administer the licenses of current licensees. Join eLicense and follow the on-screen steps to submit an official application for your broker license.
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Get Your License Online
The online platform, self-paced courses, and high levels of student satisfaction are just a few of the factors that distinguish The CE Shop as the finest in real estate education. Take the first step toward a successful real estate career right now! GET YOUR LICENSE »
How Do I Get My Colorado Real Estate License?
Obtaining a Colorado real estate license is essential if you want to pursue a real estate profession in Denver, Colorado Springs, Aurora, Fort Collins, or any other city in the state. If you want to obtain a Colorado real estate license, you must be at least 18 years old, register for 168 hours of needed study, submit to fingerprints and a background check, finish your required education, register for and pass the broker licensure test, and locate a sponsored broker. As a real estate agent, you must follow a procedure that is similar in most states, but each state has its own set of processes that must be followed.
1. Must be at Least 18 Years of Age
You must also be a legal citizen of the United States, in addition to being at least 18 years old.
2. Register for 168 Hours of Required Education
In order to sit for the Colorado Real Estate License Exam, the state requires that you complete 168 hours of college-level real estate courses that have been authorized by the Department of Real Estate. In order to meet the 168-hour requirement, Kaplan Real Estate Study provides four different education alternatives. Learn more about schooling that has been authorized by the DORA.
View Licensing Packages
Your fingerprints must be sent to the Colorado Bureau of Investigation (CBI), which will conduct a normal background check on you before the state can issue you a license to sell real estate. Because this procedure might take many weeks to complete, you should begin as soon as possible. For information about fingerprinting hours at the Denver site, call 800.276.7031.
4. Complete Your Required Education
Whether you are fresh out of school or have been out of the workforce for several years, our well-organized prelicensing education courses will get you back on track and keep you on track. Visit the website of the Colorado Department of Regulatory Agencies to learn more about the education requirements in the state.
5. Register For and Take the Broker Licensing Exam
It is possible to apply for a licensure exam once you have finished all of the requisite coursework. Don’t forget to take advantage of Kaplan’s Exam Prep Course to prepare for your exams. It will assist you in ensuring that you are well prepared for success on exam day. You must get a passing score of 75 percent or more on your exam, but as a Kaplan student, you will be confident and well-prepared for the test itself.
The Colorado Real Estate Commission requires that you provide your social security number or another form of recognized identification to the Colorado Real Estate Commission. In order to make a reservation for a test, please contact the PSI Candidate Care Center at 800.733.9267.
6. Find a Sponsoring Broker
Before you may start selling real estate, you must find a sponsoring broker and submit your license application to the Colorado Real Estate Commission. Please keep in mind that the hiring broker is the one who submits the application to the Colorado Department of Revenue Authority (DORA). Do you already possess a Colorado Broker License? Learn how to obtain a Colorado Employing Broker’s License by reading this article.
FREE eBook: Launching Your Real Estate Career
If you could sit down with a room full of accomplished real estate experts and ask them for career guidance, wouldn’t it be fantastic? We asked numerous established real estate professionals what they wished they had known before earning their license and beginning their careers, as well as what they believe all aspiring real estate professionals should know. We received a lot of great responses. We compiled all of their suggestions into a comprehensive eBook that is filled with value. E-book available for free download
How to Get Your Real Estate License in Colorado?
Interested in learning how to become a real estate agent and obtaining your Colorado Real Estate License? With hundreds of aspiring real estate agents in Colorado under our belt, Real Estate Express can assist you in becoming familiar with the state’s real estate licensing requirements. Real estate licensing requirements in Colorado are straightforward: you must pass a background check, complete 168 hours of Colorado real estate license coursework, and pass the Colorado real estate license exam.
What kind of information will I learn from Real Estate Express to help me get a real estate license in Colorado?
Real Estate Express can assist you in preparing for the Colorado real estate license examination. You will be able to progress at your own speed. You will also receive resources that will help you in your future profession. Get through your Colorado real estate licensing test on the first try, or you won’t be charged!
Does Colorado have licensing reciprocity with other states?
The state of Colorado will accept your application for licensure with restricted examination and/or pre-licensing coursework if you hold a valid license in any other state or territory in the United States. It is necessary for you to pass a background check, produce a documented licensing history from the jurisdiction in which you currently hold a license, and pass the Colorado Real Estate Broker’s Exam, which includes the STATE part.
Real Estate Express Courses Fulfill Your Colorado License Requirements
The state of Colorado will accept your application for licensure with a restricted examination and/or pre-licensure coursework if you are already licensed in another state or territory in the United States of America. It is necessary for you to pass a background check, produce a documented licensing history from the jurisdiction in which you currently hold a license, and pass the Colorado Real Estate Broker’s Exam, which includes the STATE section of the examination.
Colorado Division of Real Estate
3038942683Address:1560 Broadway, Suite 925 Denver, CO 80202 Phone:3038942166 Fax:3038942683
How to Become a Real Estate Agent in Colorado
Colorado real estate brokers, rather than real estate agents, are the official designation for people who represent buyers and sellers in the state. Taking 168 hours of prelicensing instruction certified by the Department of Regulatory Agencies (DORA), as well as passing a test and submitting a license application will be necessary in order to obtain your certification.
You will be guided through the process of obtaining your broker’s license in the Centennial State by following the steps outlined in this article.
1. Meet the State’s Legal Requirements
The legal requirements to be eligible for a Colorado real estate license are relatively straightforward. The sole requirement is that you must be at least 18 years old to be considered. In contrast to many other states, Colorado does not need any formal education as a condition for employment.
Did you know?
A comprehensive reciprocity agreement exists between Colorado and all 50 states. Therefore, agents who have already obtained their licenses in other states are exempt from taking DORA’s prelicense courses and are only required to pass the background check and state section of the real estate test in order to obtain their license in New York. In addition, Colorado is a helpful state when it comes to transfer of documents. It permits out-of-state real estate agents or brokers to physically enter the state in order to do real estate business in the state.
Check out our information on real estate license reciprocity and portability in Colorado to learn more about real estate license portability in the state of Colorado.
2. Complete Required Prelicensing Courses
Providing you complete the legal criteria of your state, you will be eligible to begin the real estate prelicensing courses. Courses are available both in-person and online through approved online real estate colleges in Colorado, with prices ranging from $295 to $850 per credit hour. All service providers should be knowledgeable about the following topics:
- Getting into the Real Estate Business
- License Law and Qualifications for Licensure
- License Law and Commission Rules
- Authorized Relations, Duties, and Disclosure
- Getting into the Mortgage Business
- Getting into the Mortgage Business. Procedures and Activities in the Real Estate Brokerage Business
- Violations of License Law, Penalties, and Administrative Procedures
- Federal and state legislation governing real estate transactions
- Estates and tenancies, condominiums, cooperatives, and time sharing are all examples of property rights. Title, deeds, and restrictions on ownership are all discussed. Descriptions in the law
- Contracts for the purchase and sale of real estate Mortgages for single-family homes
- Mortgages and sources of financing
- Computations and closing of transactions
- Types of mortgages and sources of financing An examination of the real estate market and its analysis Real estate appraisal, real estate investment, and business opportunity brokerage are some of the services offered. Taxes that have an impact on real estate
- Planning, zoning, and environmental hazards are some of the topics covered.
Did you know?
It takes just 12 hours of schooling, passing the broker’s test, and passing a fingerprint background check to become a licensed real estate agent in Colorado. If you are a current member of any bar association, you do not need to fulfill any further requirements. You may also be excluded from the necessary education requirements if you have a bachelor’s degree with a main course of study in real estate. Online real estate colleges are many, but if you want to get started on your prelicensing courses as soon as possible, Kaplan might be a fantastic alternative for you.
Pay a visit to Kaplan
3. Get Your FingerprintsBackground Check
DORA mandates that all candidates submit fingerprints to the Colorado Bureau of Investigation in order to be considered for a position with the agency (CBI). Due to the fact that this procedure might take several weeks, it is critical to begin as soon as possible to ensure that everything is done in time for you to acquire your license. There are several possibilities for fingerprinting services, including:
- Option 1 – IdentoGO: Make an appointment by selecting “Schedule or Manage Appointment” from the drop-down menu. The prices range from $20 to $30. Alternatively, persons residing in Colorado can obtain fingerprinting services through the Colorado Applicant Background Services (also known as Colorado Applicant Background Services) (CABS). Create an account to book your appointment, and when required, use the real estate broker code 0800REEI to ensure that your appointment is confirmed. Currently, the cost of this service is $39.50.
Your fingerprints will be used to check both state and federal arrest records at the same time. Applicants are expected to disclose any and all criminal convictions from the previous ten years, as well as any current proceedings. It is necessary to include a written description of the occurrence as well as proof of the incident with your application. Approval will be determined on a case-by-case basis by the Real Estate Commission, and prospective agents can request review prior to commencing their real estate education by submitting a preliminary advisory opinion form (PAO).
In addition, further restrictions are listed in the Code of Colorado Requirements under Section A-12, if you require any extra information.
4. Take the Exam
In order to verify both state and federal arrest records, your fingerprints will be collected. All criminal convictions from the previous ten years, as well as any outstanding proceedings, must be disclosed by applicants. If you are applying for unemployment benefits, you must submit a written explanation and proof of the occurrence. Approval will be determined on a case-by-case basis by the Real Estate Commission, and prospective agents can request review prior to starting their real estate education by submitting a preliminary advisory opinion form (PAO).
The PSI Corporation, a national supplier of state licensing examinations, is responsible for administering the Colorado real estate exam. To begin scheduling, you’ll need to register for a PSI account on the company’s website, which will then get you access to the scheduling portal. You will be sent with a copy of theCandidate Information Bulletin, which contains more testing details. A credit or debit card can be used to pay the $44.95 charge for taking the exam, which can be done immediately on the website.
If you need to brush up on your knowledge before taking the test, we offer Real Estate Exam Scholar, which is a thorough exam preparation course.
Even better, it provides a money-back guarantee in the event that you do not pass on your first attempt.
5. Pick a Company to Work for
In order to keep your Colorado license valid, you must identify a sponsoring brokerage with whom to associate your license. Check out our in-depth article on how to choose the best real estate business to work for in order to make your decision a little bit easier. Despite the fact that Colorado is home to a slew of successful brokerages, the following are the top five brokerages predicted to be profitable in 2021. (According to Real Trends2021)
Colorado Cities with Highest Median Sales Price 2021
The median price at which homes are selling is directly proportional to the amount of commission a real estate agent receives on the sale of the home. Check out the sales statistics from Towncharts.combelow to get a feel of which cities in Colorado are bringing in the most money:
6. Acquire ErrorsOmissions Insurance
All brokers are obliged to have errors and omissions insurance in order to maintain an active license (E O). This is used to shield real estate enterprises from errors that may occur throughout the course of providing professional services. Depending on the brokerage, some brokers may be provided with E O services. Otherwise, you’ll have to pay for it out of your own pocket. Alternatively, you can select your own provider and complete theIndependent Coverage Certification Form, which DORA works closely with to provide inexpensive solutions.
7. Apply for Your License
Once you’ve secured E O coverage, either on your own or through an associate brokerage, you may proceed with the application process for your insurance license. A license application is completed online using eLicense on the DORA website, where you must create an account and follow the steps to submit and complete the necessary papers for licensure. It is necessary for your employing brokerage to consent to your application license, and you must submit your license application within one year after passing your exam.
A license application costs $485 and takes around 10 days to complete the procedure through the company’s computer system. When your license is legally activated, you will be notified by email of the event.
8. Start Your Real Estate Career
As a result of your education on how to become a real estate agent in Colorado, you are now prepared to embark on your real estate career. See ourTop 25 New Real Estate Agent Tips from the Prosor14 Real Estate Agent Tips for 2021for additional information on how to jump-start your career as a real estate agent.
Colorado Real Estate License
Instructions on how to acquire a Colorado real estate license. To be eligible for a Colorado real estate broker license, you must possess the following qualifications:
- If you have less than 168 hours of schooling, you may substitute a bachelor’s degree from an authorized college or university with a main course of study in real estate
- However, unofficial transcripts may be presented if you have not yet completed the broker’s examination. pass the national and state components of the Colorado Real Estate Broker’s Exam
- Pass a background check that includes a fingerprinting procedure
All of the necessary information may be obtained by visiting the Colorado State Broker License’s official website. Both the CU Real Estate certificate and degree programs have been recognized by the state and fulfill the educational requirements specified above for real estate agents. Exam for the Real Estate Broker License After completing the real estate certificate or major in real estate with the CU Real Estate Center, you are eligible to sit for the broker licensure test (see eligibility requirements above).
- If you live in Colorado, please choose your state and, from the drop-down option, select CO Broker.
- See also the section on earning your license.
- You should have obtained the majority of the knowledge you need for the test in all of your classes at CU-Boulder, but the test prep course will assist you in passing the exam specifically.
- Former students have had positive experiences with both Kaplan University and the American Real Estate College.
How to Become a Real Estate Agent in Colorado
Learn more about real estate license and take advantage of exclusive discounts. In contrast to the majority of other states, Colorado does not have any licensed real estate brokers. While all real estate professionals in the state are designated as brokers, they are nevertheless generally referred to as agents by the general public. Listed below is the process for becoming a licensed broker in the state of Colorado.
6 Steps to Getting a Colorado Real Estate License
- Attend to your academic responsibilities Pass the background investigation
- Make an appointment to take and pass the Colorado Real Estate Broker’s Exam
- Purchase Errors and Omissions insurance. Prepare the necessary application documents by gathering them together. Fill out an application for a new Colorado real estate broker license
Step 1. Meet the Education Requirement
For a real estate license, the first thing you’ll need to do is complete the necessary schooling requirements. According to the Colorado Real Estate Commission, all candidates must complete a total of 168 hours of instruction. Courses can be taken through a variety of means, including:
- Community colleges that are nationally recognized
- Universities that are nationally accredited Real estate education from a school that has been approved by the Colorado Department of Private and Occupational Schools (DPOS)
All of the information you need to know to pass the broker’s test and work as a Colorado real estate agent is covered in the pre-licensing real estate courses. The following is a list of the subjects that are covered in the course: The law and practice of real estate – Instruction for a total of 48 hours Contracts and laws in Colorado – 48 hours of classroom instruction Trust accounts and recordkeeping – a total of 8 hours of training. Current legal concerns – 8 hours of education on current legal issues Real estate closings are completed within 24 hours after receiving the necessary instructions.
Following completion of the requisite courses, you will be able to proceed to the next phase. First and foremost, be certain that you have received a certificate of completion from your real estate school or a transcript from your university.
Education Requirement Exceptions
Colorado has reciprocal agreements with a number of other states. There are no educational requirements if you have already had a valid license in another state for more than two years in good standing. You will, however, be required to produce documentation in the form of a verified license history. If any disciplinary action is taken, it must be issued within 90 days of the application being submitted. In order to get a Colorado real estate license, you must be an actively licensed attorney who has completed the necessary schooling requirements.
Step 2. Pass the Background Check
The state of Colorado wants to ensure that all license candidates have a clean criminal record because real estate may entail big quantities of money as well as people’s safety. A fingerprinting application must be completed and submitted to the Colorado Bureau of Investigation (CBI). It is also possible that the fingerprints will be processed within the FBI’s system. It makes no difference whether or not the incident happened within the state of Colorado. There are three types of fingerprinting available: IndentoGO- IndentoGO is a CBI-approved vendor having outlets all around the state and the United States, including New York.
In the state of Colorado, there is still another approved provider, Colorado Fingerprinting.
If you are unable to travel to an IdentoGO or Colorado Fingerprinting facility, there is one other option: the FBI Fingerprint Card (PDF).
Once you have submitted your license application, the fingerprints will be linked with your application, and you will not be required to present the prints physically.
Step 3. Schedule and Pass the Colorado Real Estate Broker’s Exam
PSI is in charge of administering the Colorado license tests. It is highly recommended that you review the PSI Colorado Candidate Handbook. Everything you need to know about preparing for exam day is contained inside this guidebook. To book an exam time, you must have your certificate of completion or certified transcripts demonstrating that you have completed the educational requirements. You can schedule an exam appointment online or by calling 800-733-9267.
The Colorado Broker’s Exam is divided into two parts: the national portion and the state section. For the national segment, you have 120 minutes to finish it, whereas for the state section, you have 110 minutes to do it. On the national test, there are 80 multiple-choice questions, while on the state exam, there are 74 multiple-choice questions.
The first time you take the exam, the charge is $44.95 (plus tax). A retake of the test will incur a price of $42.50 in addition to the original $42.50 fee.
The two parts of the test are graded independently of one another. a. A minimum of 60 correct answers are required to pass the national component of the exam.
To pass the state component of the exam, you must answer at least 53 questions correctly. The good news is that if you only fail one section of the exam, you will not be required to retake the section that you passed the first time.
Step 4. Get E O Insurance
Real estate agents in other states don’t have to worry about errors and omissions insurance since their broker takes care of it for them. However, in Colorado, there are just brokers and brokers who hire other brokers. That implies that if you’re attempting to acquire a new real estate license in Colorado, you’ll need to have E O insurance in place before you can begin working in the industry. All real estate activity that necessitates the use of a license must be covered by an E O insurance policy that is up to date.
A group coverage is also available via Rice Insurance Services LLC, which is administered by the Colorado Division of Real Estate.
Step 5. Gather Together the Required Application Documents
When you’ve finished the needed real estate education for a Colorado real estate broker license, obtained fingerprinting, passed the test, and arranged E O insurance, you’re ready to submit your application to the Colorado Department of Revenue. Failure to provide all of the required documents might result in prolonged delays, which can significantly lengthen the licensing process. You’ll need to provide the following papers in order to be considered for the position:
- A certificate of completion for the education requirement (REC-33)
- A professional liability insurance policy (you will not be required to submit papers, but you will be required to supply policy details)
- If you are already licensed in Colorado or another state, you must provide a certified licensing history.
If you have previously had a professional license and were subjected to disciplinary action, you will additionally be required to submit the following documents:
- Formalized written and signed declaration indicating the licensure and the activities done
- The complaint or charges, together with a copy of the agency order issued in response to the complaint or charges
- And License status confirmation, including the most recent version of the license
Applicants who respond yes to any of the criminal background inquiries on the application will be required to submit the following documents:
- If the court papers are no longer available, a signed declaration must be submitted in their place. Original charging documents in their entirety. Any and all police officer reports
- All arrest affidavits
- And any other documentation. written account of the events, including any rehabilitative efforts that have been implemented. You will need a formal statement from your hiring broker (if you have one). Each and every sentence and judgment order
- The terms and conditions of probation
- All delayed judgements
- And any other relevant information. Information about cases that have been dismissed
All of the papers listed above will need to be scanned in order to be submitted electronically.
Step. 6 Apply for a New Colorado Real Estate Broker License
You are now ready for the relatively simple task of completing your Colorado broker license application! The state of Colorado has implemented an online application system. To access and finish the application:
- Visit the Colorado Division of Real Estate’s online eLicense application portal. You must first create an account if you do not already have one. Log in and select the “Create/Continue Application for NEW License” link from the drop-down menu. If you want to launch the relevant application, choose “Real Estate – Brokers.” Please fill out the application in its entirety, answering all pertinent questions
- Upload all of the necessary paperwork. You must pay a $485 broker application fee.
Once you have filed all of the required paperwork and there are no difficulties with the criminal background check, you will be awarded a Colorado real estate license. You’ll be able to start operating as a broker right away due of the way the procedure has been set up to begin with. Aceable, Inc. retains ownership of all intellectual property rights.
Real Estate School
Have you ever fantasized of a rewarding career in which you can both serve people and earn a good living? If this is the case, a job as a real estate agent may be the best option for you. Real estate agents may assist buyers in finding the ideal house for their family and can aid sellers in relocating to a new location if they want to become real estate agents. When you enroll in a real estate school in Colorado, you will be able to learn all you need to know. The course will prepare you for a rewarding career by providing you with the information and skills you require.
You can get the training you need whether you’re just starting out or need it because you’ve relocated to another state and need to get your license.
When you enroll in the comprehensive real estate school in Colorado, you will be required to complete 168 course hours over the course of six sessions.
Real estate schools in Colorado require a significant time commitment, but the results are well worth the effort put out during the training process.
The course will prepare you to sit for your real estate licensing exam, which will allow you to begin working as soon as possible once you have finished. You’ll be well on your way to a fulfilling and enjoyable job in no time.
TOP-RATED 3 Online Real Estate Schools in Colorado – 2022
The Colorado Department of Regulatory Agencies will need you to go through the process of becoming a real estate agent before you can begin working in the state (DORA). This is the government agency that is in charge of establishing all of the rules and regulations that apply to real estate in the state of Colorado. Because their number one aim is to safeguard the customer, they hold real estate professionals to the highest standards and ensure that anybody new to the business has proper training before entering the sector.
There is no difference between the school you go to obtain the 168 hours; they will all cover the same topics:
- It is a beginning course that covers common real estate terminology, ideas, and information as well as national legislation that are shared by a majority of states
- It is 48 hours in length. Colorado Statutory Relationships (48 hours)– This course covers the several forms of Colorado Statutory Relationships, Brokerage Relationship Agreements, Sales Contracts, and other important factors in contracting. Student Training in Record Keeping and Trust Accounts (8 hours)– This course teaches students how to maintain accurate records as required by law and handle the finances of other people. Current Legal Concerns (8 hours)– This topic is concerned with current issues affecting the real estate business, and it is updated on a regular basis as new and significant legal issues and developments occur. Closings (24 hours)– This topic is intended to provide people with the fundamental knowledge and abilities necessary to effectively close a real estate transaction, including all of the duties that arise once the transaction is completed. The Practice Applications course (32 hours) is designed to provide new agents with a working understanding of practical applications so that they may establish a baseline level of proficiency before entering the real estate profession.
The school you pick will have a significant impact on your ability to obtain a professional license. That is why it is critical to analyze the advantages and disadvantages of many options in order to pick the one that best suits your learning style. Here are the top three real estate colleges in Colorado that will prepare you to become a licensed real estate agent.
Best School for Overall Value
When it comes to the real estate education sector, Real Estate Express now has the number one market share position. In addition to helping you get licensed, they also provide a wealth of tools and resources to assist you begin your career. In fact, they have so many selections accessible that you may have a difficult time picking which one to choose to purchase. Real Estate Expressprovides you with two options for completing the 168 hours of study necessary. Traditional methods of learning the course information include reading the course material online and/or using a physical textbook.
- A maximum of six months is allowed for you to finish the program.
- The alternative option for taking the course is through their new Livestream videocourse, which allows you to watch a trained teacher deliver the class through a Zoom online conference call.
- If you are afraid that studying would be too monotonous and you also have a flexible schedule, this will be a better alternative for you than the other two options available.
- Real Estate Express has also recently launched a new live video course to assist you in preparing for the real estate test, dubbed the Live Exam Crammer Series, which is available now.
- Each session lasts one hour.
- If you do not pass, you will receive a refund of your money.
- They even feature what is undoubtedly the finest price on the market, thanks to the constant stream of specials that seem to be running.
Kaplan Real Estate is, without a doubt, the most well-known name in the education sector.
As a result, they may have a basic understanding of how to teach a course.
More accurately, they are a huge education firm that provides courses across a wide range of sectors.
While Kaplan Real Estate offers live video and online reading courses, what truly distinguishes them from other schools is their recorded video courses, which can be found under the OnDemand Online Video Packages section of their website.
You can start watching the videos right now.
You have the best of both worlds in this situation.
The same exam preparation and live help are included in every package, regardless of the course type you pick.
You may tailor the tests to focus on certain areas of your choosing by modifying the questions.
While enrolled in the course, you will have access to their helpful Interactive Study Groups, which will come in handy if you want any assistance.
It’s similar to participating in a virtual study group where you may ask any and all of your queries.
This includes an intensive 8-hour online course that teaches you how to get your real estate business up and running as soon as you have your license. For the first eight weeks, you will have access to a professional real estate coach who will assist you in getting started.
Perfect for Knowledge Seekers
Product and material from The CE Shop are available in all 50 states because it is a 100 percent online-only school. You can tell they care about Coloradoans because they are based in Greenwood Village, so you can bet they will go out of their way to help their fellow residents. However, regardless of where you are located, they have a 96 percent total student satisfaction percentage in place. What actually distinguishes them from other institutions is the rigid format that they follow. They have specially created their curriculum to educate you how to master the subject matter.
- You will know the content like the back of your hand, which means you will be able to pass the exam with flying colors on one hand.
- This is an excellent school for persons who want to actually learn as much about real estate as they possibly can and who are not in a rush to become certified in the field.
- In order to make learning more interesting, this approach includes real-life events and a range of interactive exercises throughout the course.
- Another feature that distinguishes The CE Shop from other schools is the manner in which their courses are presented.
- It is possible to use a tablet or smart phone to smoothly continue your studies while on the road because they have extended their easy interface to mobile devices as well.
How to Become a Real Estate Agent
Are you considering a career as a real estate agent? You’re in excellent company. Every month, around 17,000 people in the United States look up “how to become a real estate agent” on Google as they ponder becoming one of the estimated 2 million active real estate licenses in the country.
- Depending on where you reside, you can complete the requirements to become a real estate agent in four to six months. Prelicensing lessons that may be completed online might expedite the process. The requirements differ from state to state, but the fundamental stages are as follows: complete a real estate prelicensing course, pass the licensing test, activate your license, and join a brokerage
- Realty agents who are members of the National Association of Realtors (NAR) are the only ones who are allowed to use the title Realtor. All Realtors are required to adhere to the rigorous Code of Ethics established by the National Association of Realtors.
Why Become a Real Estate Agent?
It is quite rewarding to work as a real estate agent since it provides so much diversity. You will not be performing the same thing every day because you will have various clients and different homes. You will have the opportunity to meet and work with a diverse range of individuals, will be your own boss, and will derive great satisfaction from assisting buyers and sellers through one of life’s most important milestones. Money may be a positive factor as well. Real estate agents earn an average of $51,220 a year according to the Bureau of Labor Statistics’ most recent available data for 2020 (the most recent year for which data is available).
In all, the top ten percent of agents will make more than $112,410 in 2020, with some agents earning far more than that figure.
Another advantage is that it is simple to get onto the field. Get your real estate license is a reasonably simple and economical procedure when you compare it to other occupations with comparable earnings potential—and you don’t need a college degree to do it.
Steps to Becoming a Real Estate Agent
If you want to become a real estate agent, you’ll need to make an initial financial and time commitment, both of which can vary depending on where you obtain your license. Despite the fact that particular regulations vary from state to state, the following is a broad overview of how to become a real estate agent.
Step 1: Research Your State’s Requirements
Because there is no such thing as a nationwide real estate license, you must adhere to the specific licensing requirements of your state. Your state’s real estate regulatory office website, which you can access by conducting an internet search for “real estate regulatory office” or by visiting the Association of Real Estate License Law Officials (ARELLOregulatory )’s agency directory, is an excellent location to begin your study. Typically, each state has separate standards for the following:
- Educational qualifications (such as a high school diploma or a GED)
- And employment opportunities. Classes for pre-licensing and post-licensing requirements
- Exams and eligibility to sit for exams
- Process and costs for submitting an application
- Obtaining criminal history information and fingerprints
- Education that is never-ending
- How to go up to the next level of licensure certification
- Providing information on criminal past
A reciprocal licensing agreement exists between certain states and other states, which implies that you may obtain your license in one jurisdiction and use it in another without having to sit a separate license test in both states. For example, New York has reciprocity agreements with nine states (some states only have reciprocity agreements with brokers): Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, and West Virginia (some states only have reciprocity agreements with brokers).
Step 2: Take a Prelicensing Course
Pre-licensing courses from an approved real estate licensing school are required no matter where you reside before you can sit for the state-mandated examination for real estate licenses. The minimum amount of hours necessary varies from state to state. In California, for example, candidates must complete three real estate classes totalling 135 hours in order to obtain their license. The courses in New York and Georgia last 75 hours, whereas the courses in Florida last only 63 hours. Furthermore, in Texas, you must complete 180 hours of study.
It may be possible to save money (as well as time) by enrolling in one sort of class program rather than another, so it is worthwhile to search around for the best deal.
Additionally, before selecting a software, conduct thorough study and use caution.
Step 3: Take the Licensing Exam
If your teacher does not explain how to plan, register, and pay for the license exam, you should consult the website of your state’s real estate commission for further information. Typically, exams are computer-based and are divided into two sections: a national piece covering broad real estate concepts and practices, and a state-specific section that covers the laws of your particular state. All of the tests are in multiple-choice style, and the number of questions and the amount of time allocated for the exam differ from one state to the next.
A retake of the test will be offered if you fail to pass one or both parts on your first attempt. Each state has its own set of laws governing the number of times you can repeat a test, how long you must wait between exams, and when you must complete any retakes you are allowed to do.
Step 4: Activate Your Real Estate Agent License
It’s time to submit your application to your state’s real estate regulating body, along with any supporting documentation and fees that may be necessary. The state will mail your real estate license certificate once your application has been granted, and your name will be searchable on the state’s website under the licensees’ area. Keep in mind that you are not permitted to act as a real estate agent until your license has been issued by the state’s real estate authority; therefore, you should wait until you have that license in your possession before getting started.
Step 5: Consider Becoming a Realtor
Despite the fact that many people use the phrases real estate agent and Realtor interchangeably, the two titles are fundamentally distinct. Realtors and real estate agents are both licensed to assist buyers and sellers throughout the real estate transaction process, but Realtors are members of the National Association of Realtors (NAR) and adhere to the NAR’s rigorous Code of Ethics, whereas real estate agents are not. The National Group of Realtors is the biggest trade association in the United States, with 1.3 million members who work in the residential and commercial real estate sectors as salesmen, brokers, property managers, appraisers, counselors, and other professionals.
Additionally, as a Realtor, you’ll have access to a number of advantages, such as:
- Tools for business
- Data, research, and statistics on the real estate industry
- Possibilities for further education
- Discount programs designed to assist you in being successful in business
Examples include Realtors Property Resource (RPR), which is the biggest online real estate database in the United States, developed from public record and assessment information and available to Realtors only. A huge database of foreclosures is included as well as information on zoning regulations, building permits, mortgage and debt data, schools, and other relevant topics.
Step 6: Join a Real Estate Brokerage
A real estate agent works under the supervision of a supervising broker, who is licensed by the state to monitor real estate transactions and ensure that you (and the other real estate agents) adhere to all applicable legal and ethical requirements. In most cases, you will not be paid on an hourly basis. Instead, the brokerage will most likely give you a portion of the commissions it receives from your real estate transactions.. Depending on the agreement you have with your brokerage, you may be required to pay for desk fees, technology expenses (for example, for your website), business cards, marketing materials, and other typical costs of doing business on a regular basis.
Because real estate costs may rapidly build up to several thousand dollars each year, it’s critical to incorporate them into your budget when evaluating whether or not a job in real estate is suited for you.
The Bottom Line
Obtaining a real estate license requires investment of both time and money, but it may pave the way for a successful career in the real estate sector. Remember that a job as a real estate agent may be as flexible as you want it to be if you put in the effort. You can choose to work only in the mornings three days a week, or you can choose to never work on weekends. The trade-off, of course, is that you will be far less likely to be successful as a result of this. Despite the fact that real estate agents can work part-time, the majority of successful practitioners handle the profession as a full-time business, making themselves available to customers throughout the week and on weekends.
You may also want to think about the range of real estate designations and certifications that are available, such as those that are particular to mortgages, appraisals, residential property, commercial property, and property management, among other areas of expertise.
Obtaining these credentials can help you advance in your real estate career and raise your marketability, while also increasing your earning potential.
How to get a Colorado real estate license in 6 steps – ASAP
Colorado is tighter than most other states when it comes to real estate licensing, but it also pays far more than most of them. Compared to other states, the prelicensing course is longer and the exam has more questions, but neither of these factors should cause you to be scared by the entire procedure. On the opposite, in fact. It will be easier to prepare for the exam if you have received a comprehensive education. You will also have more knowledge when you begin your real estate career, which will allow you to concentrate on building a name for yourself and learning the more advanced aspects of the real estate industry.
- It will take three months to complete the 168-hour prelicensing education course if you study for two hours every day from Monday to Friday for three months.
- A fingerprint scan and background check will take no more than two weeks at the very maximum.
- You will be able to schedule a test after they have approved your registration.
- Only New York, Massachusetts, and Alaska are more lucrative states for real estate brokers than Colorado, which is ranked fourth in terms of income.
- As expected, the Denver-Aurora-Lakewood metro area has the highest mean annual wage in Colorado, with an annual mean wage of $82,450.
- The average annual salary in this metro area is significantly higher than the average salary in other metro areas, but the most successful agents can earn up to $136,360 or even more.
- The licensing requirements can be met in one of several ways, the most common of which are: a) The applicant has held an active license in another jurisdiction for at least two years prior to submitting the application.
- There are no educational prerequisites for this position. Only the state component of the test has to be passed by the candidate. The applicant should be prepared to give fingerprint scans in order to be considered for the position. You must include a License History from the licensing jurisdiction that is not more than 90 days old from the date of your application.
B) The applicant has fewer than two years of real estate experience, or their license has expired, whichever is the case. In this particular instance:
- The applicant must finish the 168 hours of prelicensing study or present a college or university diploma with a major in real estate as proof of completion of the requirements. The candidate must pass both sections of the test – the national component as well as the state portion
- And The applicant should be prepared to give fingerprint scans in order to be considered for the position. The applicant will be asked to present a License History from the licensing jurisdiction that is not more than 90 days old from the date of application if their license has expired.
In order to become a real estate agent in Colorado, you should budget for the following expenses:
- It is possible that prelicensing education prices will range from $150 to $1,000, depending on the education program you pick
- It costs $485 to submit a Broker Application
- The Broker Examination price is $44.95
- If you need to repeat the exam, it will cost you $42.50, regardless of whether you are retaking one or both components. You will be charged $15 for obtaining a Broker license history
- $44.95 for the Continuing Education Examination
- And $387 for obtaining a Broker license renewal.
All licensing-related questions should be directed to the Colorado Division of Real Estate. Collaboration, openness, and equity are important characteristics of the DRE’s approach to navigating the real estate regulatory framework. They hope to achieve a balance between consumer protection and the promotion of a fair and competitive business climate across the real estate industry, among other things. A collaborative approach to regulation that is open, straightforward, and user-friendly is how the Department of the Environment achieves this balance.
A high school diploma or an equal level of education is currently all that is required to become a real estate agent in the state of Colorado.
Aside from that, licensed attorneys are exempt from the pre-licensing education requirements and are simply need to complete 12 hours of Trust Accounting and Closings/Recordkeeping courses.
- Real Estate Law Practice (48 hours)
- Colorado Contracts Regulations (48 hours)
- Trust AccountsRecordkeeping (eight hours)
- Current Legal Issues (eight hours)
- Real Estate Closings (24 hours)
- Practical Applications (32 hours)
- Practical Applications (32 hours).
Colorado’s real estate test comprises a total of 154 questions: 80 questions in the national component and 74 questions in the state portion, which is greater than the majority of other states in the United States. To pass the test, you must correctly answer 60 questions from the national component in 120 minutes and 53 questions from the state portion in 110 minutes. You must complete the national portion in 120 minutes and the state portion in 110 minutes. If you do not pass the test on the first try, you can reschedule it for the following day.
There are no restrictions on the number of times you may retake the test, but the results are only valid for one year after you first pass it, so you would have to pass both components of the exam within that time frame, or retake the entire exam.
This is the same as it is in every other state.
- Property ownership
- Land use laws and regulations
- And other related topics. Financial planning, financing, general principles of agency, disclosures of real estate, contracts, leasing, and property management are all topics covered. Transfer of ownership
- Real estate practice is defined as follows: Calculations pertaining to real estate
The following topics are covered in the state component of the Colorado real estate license examination:
- The Real Estate Commission’s responsibilities and powers
- The prerequisites for licensing
- The regulations controlling the actions of licensees
- And other matters. Forms and contracts for Colorado residents
- Keeping accurate records and maintaining trust accounts
- Arrangements for closing and settlement
- Broker connections
The state maintains track of everything and publishes extensive real estate school reports, where you can see how many students pass and how many fail their first time. Overall, the pass rate for all schools in 2020 has been 63.94 percent thus far. Individual school pass rates have ranged from 0 percent to 100 percent across the board. More than half of the applicants succeed on their first attempt at the test. Your license is valid for three years, with an expiration date of December 31st, after which it must be renewed by submitting documentation of participation in continuing education classes (CE classes) (except in the first licensing cycle).
If you do not renew your license within 31 days of its expiration date, you will have three years to reapply for it.
In order to renew their licenses, licensees must show documentation that they have completed 24 hours of continuing education for each licensing cycle of three years.
It is not necessary to complete any further continuing education requirements during the initial licensure cycle. These 24 hours of continuing education must encompass the following topics:
- Three distinct versions of the 4-hour Annual Commission Update Course must be used to make up 12 of the 24 hours
- The remaining 12 hours can be made up of any combination of elective credit hours that have been approved by the Commission.
After completing the continuing education requirements, you will be required to sit for the state section of the test in order to demonstrate your knowledge. To be admitted to the exam, you will be required to submit two kinds of identification. One of these kinds of identification must be a current, non-expired, and government-issued document such as a driver’s license, a state identity card, or a passport. The second form of identification should have your signature as well as your legal name, which should be the same as the name you used to register for the exam.
Preliminary advisory opinions are available to those who have previously been convicted of a felony, misdemeanor, theft-related minor infraction, or who are now facing a charge for any of these crimes.
The Colorado Real Estate Commission will review any real estate applications that are submitted to them.