How to Get a Real Estate License in Colorado? A Step-by-Step Guide

If you are interested in becoming a real estate broker in Colorado, you will need to meet some requirements and follow some steps to get your license.

In this article, we will explain what you need to do to start your career in real estate in Colorado.

How to Get a Real Estate License in Colorado?
How to Get a Real Estate License in Colorado?| Origin

Colorado Real Estate License Requirements

The basic requirements to become a real estate broker in Colorado are:

  • Be a citizen of the United States or a lawfully admitted alien
  • Be 18 years of age or older

In addition, you will need to complete 168 hours of pre-license education, pass the Colorado Real Estate Broker’s Exam, and submit an application with a background check and a license fee.

The first step to get your real estate license in Colorado is to complete an approved pre-license education course. You will need to complete 168 hours of coursework, which consists of six classes:

1.48 hours of Real Estate Law & Practice

2.48 hours of Colorado Contracts & Regulations

3.8 hours of Trust Accounts & Recordkeeping

4.8 hours of Current Legal Issues

5.24 hours of Real Estate Closings

6.32 hours of Practical Applications

You can choose to take your pre-license education course online or in person, depending on your preference and availability.

There are many providers that offer online courses, which are self-paced and include study materials and practice exams.

Some of them also offer a money-back guarantee if you do not pass the exam on your first attempt.

After you complete your pre-license education course, you will need to take a final exam provided by your education provider.

This exam is not the same as the state exam, and it is not supervised by a proctor.

It is a closed-book and closed-note test that will assess your knowledge and readiness for the state exam.

Colorado Real Estate Broker’s Exam

The next step to get your real estate license in Colorado is to pass the Colorado Real Estate Broker’s Exam.

This exam is administered by PSI Services, LLC, a testing company that contracts with the Colorado Division of Real Estate.

The exam consists of two parts: a national portion and a state portion.

The national portion has 80 questions, and the state portion has 74 questions. You will have 230 minutes to complete the entire exam.

You will need to score at least 75% on each portion to pass the exam.

To register for the exam, you will need to create an account on the PSI website and pay a fee of $85.

You will also need to provide proof of completion of your pre-license education course.

You can schedule your exam online or by phone, and choose a date and location that is convenient for you.

There are several testing centers across Colorado, as well as in other states.

To prepare for the exam, you should review the topics and concepts covered in your pre-license education course, and take as many practice tests as possible.

You can also use study guides and flashcards to reinforce your learning.

Some of the online providers, such as The CE Shop, offer exam prep courses and tools that can help you ace the exam.

On the day of the exam, you will need to bring two forms of identification, your education certificate, and your exam confirmation.

You will also need to follow the rules and regulations of the testing center, such as arriving on time, not bringing any personal items or materials, and not cheating or disrupting the exam.

After you finish the exam, you will receive your score report immediately.

If you pass the exam, you will also receive a certificate of passing. If you fail the exam, you will receive a diagnostic report that will indicate your areas of weakness.

You can retake the exam as many times as you need, but you will need to pay the fee each time and wait at least 24 hours before scheduling another attempt.

Colorado Real Estate Broker License Application

The final step to get your real estate license in Colorado is to submit your license application to the Colorado Division of Real Estate.

become a real estate agent
Become a real estate agent | MBITION

You will need to do this within one year of passing the exam, or you will have to retake the exam.

To apply for your license, you will need to use the eLicense system on the Division of Real Estate website.

You will need to create an account and fill out the online application form.

You will also need to provide the following documents and information:

1.Your certificate of passing the exam

2.Your certificate of completion of your pre-license education course

3.Your certified license history, if you have a license in another state

4.Your fingerprints and background check

5.Your errors and omissions insurance

6.Your employing broker information, if you have one

7.Your application fee of $485

You can pay your fee online using a credit card or an electronic check. You can also mail a check or money order to the Division of Real Estate, but this may delay your application processing.

Once you submit your application, you will need to wait for the Division of Real Estate to review it and approve it.

This may take up to 10 business days, depending on the volume of applications. You can check the status of your application online using the eLicense system.

After your application is approved, you will receive your license number and a confirmation email.

You will also be able to print your license certificate from the eLicense system. You will need to display your license certificate at your place of business, and renew it every three years.

How much does it cost to get a real estate license in Colorado?

According to the web search results, the total cost of getting a real estate license in Colorado ranges from approximately $830 to $1,0451. This estimate includes the following fees:

1.Pre-license education course: $349 to $565, depending on the provider and package.
2.Exam registration: $85.
3.License application: $485.
4.Fingerprinting and background check: $39.50.
5.Errors and omissions insurance: $127 to $217 per year, depending on the coverage and carrier.

These costs may vary depending on the time and location of your exam, the type and duration of your insurance, and other factors.

You should also consider the additional expenses of starting and maintaining your real estate business, such as marketing, advertising, office supplies, membership dues, etc.

Conclusion

Getting your real estate license in Colorado is a rewarding and exciting process that will open up many opportunities for you in the real estate industry.

By following the steps and requirements outlined in this article, you will be able to achieve your goal and start your career as a real estate broker in Colorado.

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