To become a Realtor in Colorado, you first need to complete 168 hours of prelicensing coursework and meet other state broker licensing requirements. First-time licensees in Colorado are deemed associate brokers. After two years of active work, you can gain certification as an independent broker. Licensed associate brokers and brokers can join a local office of the National Association of Realtors to gain marketing opportunities and multiple listing service access.
Education and Training
The 168 hours of college-level coursework required to earn a real estate license in Colorado is much higher than the requirement in many other states. All courses must be approved by the Colorado Department of Regulatory Agencies.
Courses focus on fundamentals, principles, Colorado property laws, finance and valuation. After finishing a prelicensing course, you receive a certificate of completion. If you get the education through a college program, your degree and transcripts are proof of completion.
Pass the Exam
Colorado uses PSI to facilitate its state licensing exam program. You must schedule for your test in advance as no walk-ins are accepted. To schedule, call the PSI care center at 800-733-9267. To qualify for the exam, you must provide proof of having the necessary education.
You also have to sign an affidavit indicating that you meet all other requirements to sit for the test. The minimum score to pass is 75 percent. After passing the exam, you have one year to apply for your license.
Other Standard Requirements
As with most other states, Colorado requires that you be at least 18 years old to earn a real estate license. When applying, you also have to submit fingerprints and go through criminal background checks by both the Colorado Bureau of Investigation and the Federal Bureau of Investigation.
To make your license active, you must show proof of error and omissions insurance protection. This insurance covers professional service providers against lawsuits stemming from negligence or mistakes. At the time of application, agents must have a sponsoring broker.
Colorado reciprocates real estate licensing with most other U.S. states. Applicants who are licensed agents in other states typically become associate brokers in Colorado after passing the state licensing exam. Applicants with more than two years of active experience as a broker may qualify as independent brokers.
Independent brokers in Colorado can become employer brokers — meaning they supervise other associate brokers — by completing an additional 24 hours of broker administration coursework.
There are several important advantages joining a local office of the National Association of Realtors. First, you gain the designation “Realtor,” which is a well-recognized professional title. Realtors abide by a strict code of ethics that contributes to the credibility of the association and its members. Access to a multiple listing service, which allows you to list client properties in a shared database in the local market is a major marketing benefit as well.
Source: Career Trend