Becoming a Colorado real estate broker may seem like a daunting task, but with the right real estate education, you can pass the real estate exam and get your Colorado real estate license. First, let’s look at the requirements, the cost, and everything you can expect to pass the state exam and being your real estate career.
Requirements for Getting Your Colorado Real Estate License
- Must be at least 18 years old
- Complete 168-hours of real estate broker pre-licensing courses
- Pass the Colorado real estate exam
- Submit fingerprints and pass a background check
- Get Errors and Omissions Insurance policy
- Apply for Colorado real estate license
- Find a sponsoring broker
Get Your Colorado Real Estate License in 6 Steps
Step 1: Complete 168-hours of Pre-license Courses
In order to become a licensed broker in CO, you will need to successfully complete the required real estate education, which is 168-hours of pre-licensing courses. Many people choose to complete the pre-license course online with an approved provider; we have compiled a list of our top picks.
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With these online real estate schools, you will have access to instructor support, flashcards, exam prep, practice exams, live webinars, private tutoring, and more. As a result, you can complete your real estate education from the comfort of your own home with self-paced course packages; you will be well prepared for your real estate licensing exam and become a real estate professional.
You can skip this if…
- you have a degree from an accredited college or university with a major course study in real estate; you will need to provide your original transcripts with your license application.
- you have a valid real estate license in another state; you will need to provide your certified license history.
- you are a licensed attorney; you will need to provide proof of your active valid law license (in any US state or territory) with the license application.
Step 2: Take and Pass the Colorado Real Estate Exam
Once you have successfully completed the 168-hour pre-licensing course and passed the course final exam, you can schedule your Colorado real estate licensing exam online with PSI. The exam consists of 154 questions, with 80 of those being the national portion and 74 of them being the state-specific portion.
You will have 120 minutes to finish the national section and 110 minutes to complete the state section. You will need to answer 60 of the national questions and 53 of the state questions correctly to pass the real estate exam. You will also need to pay an exam fee of $44.95 for your first attempt.
Bring This
1 form of ID* – A valid and unexpired government-issued photo ID with your signature. (Driver’s License, ID Card, Passport, Military ID, Green Card, and Canadian Government Issued ID)
*The identification must match the name you scheduled with.
Don’t Bring This
Do not bring any personal items!
- Your phone, watch, wallet, hat, and jacket must be left outside of the testing area.
- You will need to leave everything in your car or put them in a locker (electronics turned off) until the completion of the exam.
You will be given a piece of scratch paper and a pencil that must be returned at check-out.
After you finish the Colorado real estate broker license exam, your score will display on the screen; if you pass, you will need to create an account with the Colorado Division of Real Estate through eLicense to apply for your Colorado real estate license. You will have one year to apply for your license after you complete the state exam; if you don’t, you will have to retake the real estate exam.
If you fail, you will be emailed your score report with your strength and weakness for each unit. In addition, you will have to pay an exam retake fee of $42.50 for each additional attempt.
Is the Colorado Real Estate License Exam Hard?
Colorado’s national exam pass rate is around 67%, which means it is difficult but not impossible. We recommend checking out The CE Shop; they have a significantly higher national pass rate of 79% for the real estate exam!
Step 3: Pass a Background Check
Before you can submit your license application to the Colorado Real Estate Commission, you will need to submit a set of your fingerprints to the Colorado Bureau of Investigation. They will do a full criminal history background check with both the CBI and the FBI. Any application that the Real Estate Division receives that does not have the CBI background result will not be processed.
The Divison will not send out a notification when they receive your record; it will be matched with your license application. They will destroy your record if your application is not received within 60 days of your fingerprint submission. Therefore, do not submit your fingerprints more than 30 days before submitting your licensing application.
For CO residents, you can use Colorado Fingerprinting, create an account, and schedule an appointment. You can also schedule an appointment with IdentoGo by Idemia for out-of-state applicants.
Step 4: Acquire Errors and Omissions Insurance
The Colorado Real Estate Commission requires all active real estate licensees to obtain Errors and Omissions insurance (E&O). In addition, the state has a group policy with Rice Insurance Services, LLC, to cover all acts that require a license. You may also choose to get independent coverage, or the brokerage firm you work with may have a specific provider with umbrella coverage.
You will need to provide a certificate of coverage with your licensing application. If you do not include the certificate of coverage with your application, your license will be issued as inactive, and an activation form and fees will be required to move your license to active status.
Step 5: Apply for Your Real Estate License in Colorado
To being your real estate career, you will need to fill out the licensing application online through the Colorado Department of Regulatory Agencies: Division of Real Estate. In addition, you will need to create an account and upload all your necessary documentation, proof of completion for necessary education, and E&O insurance certificate coverage. The application fee of $485, which must be submitted with your application.
After you have submitted your application, it can take up to ten business days from the time the Division receives your complete application to process it. First-time broker applications are dependent upon receiving the fingerprint background information and may take longer. Once you have been approved, you will receive your real estate broker license.
Congratulations, you are now a Licensed Colorado Real Estate Broker! Take time to celebrate your accomplishments and dream about your new future!
Step 6: Find a Sponsoring Broker
You will be given an inactive associate broker license when you get your approval unless you have already found an employing broker to work with. Otherwise, you will need to find a sponsoring broker with an employing broker license to hire you in order to get an active license. You will need to pay a $25 fee and submit a request online to activate your license. You are now an active, licensed Colorado real estate broker and can begin building clientele.
Once you have been an active broker for two years, you can upgrade your broker license to either an independent broker or an employing broker license.
Colorado Real Estate License FAQs
How do I choose the right pre-licensing course?
Consider the following factors when selecting a pre-licensing course:
- Accreditation: Verify that DORA approves the school
- Course content: Ensure the course covers all necessary topics, including Colorado-specific laws and regulations
- Flexibility: Online courses offer the convenience of studying at your own pace
- Reputation: Research the school’s pass rate, reviews, and overall reputation
Colorado Real Estate License - The CE Shop
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What are Colorado real estate agents’ Continuing Education (CE) requirements?
In Colorado, real estate agents are required to complete 24 hours of Continuing Education (CE) every three years. This includes 12 hours of Annual Commission Update (ACU) courses, with 4 hours taken each year, and 12 hours of elective courses, which can be taken at any time within the three years. Make sure to choose DORA-approved courses and providers when fulfilling your CE requirements.
How can I best prepare for the exam?
Maximize your chances of success with these strategies:
- Create a study schedule and stick to it
- Focus on key concepts, especially Colorado-specific topics
- Take practice exams to familiarize yourself with the test format
- Use study aids such as flashcards and mnemonics
- Consider joining a study group for support and collaboration
What costs are associated with maintaining a real estate license in Colorado?
There are several costs that real estate agents in Colorado should budget for, including:
- Continuing Education: The cost of CE courses varies depending on the provider, course format, and subject matter. On average, you can expect to pay between $50 and $200 per course.
- License renewal fees: Approximately $195 every three years, paid through the DORA eLicense system.
- Errors and Omissions (E&O) insurance: Varies by provider but typically ranges from $200 to $600 annually.
- Local and national association membership dues vary by association but typically range from $300 to $500 per year.
- Marketing and business expenses: Costs associated with advertising, client acquisition, and other aspects of running your real estate business.
What happens after I pass the licensing exam?
Once you pass the exam, you’ll need to find a sponsoring broker to work under. This experienced professional will provide guidance, support, and mentorship as you begin your real estate career. They will help you with real estate law, Colorado contracts, commercial real estate, and anything else real estate agents need. After securing a sponsorship, complete the licensing application through the DORA eLicense system.
