How To Get Your Real Estate License In Colorado (6 Easy Steps)
Ready to start selling homes in Colorado?
Even with a wide butter spread of talent and skill on your hands, there are some legal actions to take first.
We know you have what it takes, so let us help you break down the steps you need to get your Colorado real estate license.
Pre-Requisites For Colorado Licensure Application
- Must be at least 18 years old
- Good character
- Submit your Colorado E&O Insurance
- Run a background check through a fingerprint check
Where Can I Get An E&O Insurance?
You can get both your Colorado real estate license application and E&O Insurance from these locations:
- Division of Real Estate website (dora.colorado.gov/dre/)
- PSI Assessment Center
- Colorado Division of Real Estate
Why Do I Need A Fingerprint Check?
The Colorado Bureau of Investigation conducts a background check to establish whether or not you have a criminal history record.
This will also verify your moral character to see if you are eligible to apply for the real estate agent or estate broker position.
Step 1: Complete 168 Hours of Pre-Licensure Education
Before you can take any estate license exam, the state of Colorado Division of Real Estate requires 168 total hours as a mandatory step.
Here are the topics covered in the real estate licensing course education:
- Colorado Real Estate Regulations (48 hours)
- Real Estate Law (48 hours)
- Practical Applications (32 hours)
- Real Estate Closings (24 hours)
- Legal Matters (8 hours)
- Trust Accounting (8 hours)
Alternative Option:
As far as your Colorado real estate license education is concerned, there is another way to complete this step.
If you received a degree or majored in real estate, this may also serve as credit hours instead of taking the Colorado real estate license education program.
You can submit proof of official documentation to the Colorado Real Estate Commission regarding this process.
Step 2: Pass the Pre-License Course Final Exam
Once you’ve completed all the mandated courses, you’ll need to take the pre-license final exam. The number of questions ranges from 20 to 50 questions with a passing score of 75%. After you complete your real estate licensing education, you’ll receive a REC-33 Certification proving your completion of the courses and education program.
Step 3: Register For The Colorado Real Estate License Exam
You can register for the real estate license exam in 4 ways:
Online
Go to the website www.psiexams.com. The website is open for registration 24 hours a day. Upon starting your registration, you’ll be asked to fill your email address, personal & contact information, and schedule your exam.
Telephone
Contact PSI through the contact number: (800) 733 – 9267
Telephone Information:
Monday – Friday: 5:30 A.M. – 8:00 P.M. Mountain time
Saturday & Sunday: 7 A.M. – 3:30 P.M. Mountain time
Fax
Fax your form through this number: (702) 932 2666
If you choose to fax your application form, it will take at least 4 business days to process your registration form.
Standard Mail
What you’ll find below is mail information needed to submit your registration form:
Address information: 3210 E Tropicana Ave Las Vegas, NV 89121
Name: PSI licensure: certification ATTN: Examination Registration CO RE
Mode of payments available: Cashier’s check or company check, credit card, or money order.
Examination fee: $45
For all other types of registration, use a valid credit card aligned with Visa, Mastercard, American Express, or Discover.
Step 4: Pass The Colorado Real Estate License Exam
You’re only two steps away from obtaining your real estate license in Colorado.
As a bonus and to help you further, we’ll present all information about the real estate license exam.
PSI, a partner of the State of Colorado, will administer the real estate license exam. You’ll need to answer a total of 154 questions, where 80 of which cover the National section and 74 for the State section of the exam.
You have roughly 4 hours or 3 hours and 50 minutes to complete the real estate license exam. Time allotted for the National section is 2 hours and 1 hour & 50 minutes for the State section.
Here is an outline of topics covered for both the National and State sections of the real estate license exam:
National Section
- Contracts (17%)
- Financing (10%)
- General Principles of Agency (13%)
- Land Use Controls & Regulations (5%)
- Leasing & Property Management (3%)
- Practice of Real Estate (13%)
- Property Ownership (8%)
- Property Disclosures (6%)
- Real Estate Calculations (10%)
- Transfer of Title (8%)
- Valuation and Market Analysis (7%)
State Section
- Duties and Powers of Real Estate Commission (2 items)
- Additional Topics (7 items)
- Brokerage Relationships (11 items)
- Colorado Forms and Contracts (23 items)
- Closing and Settlement (10 items)
- Licensing Requirements (5 items)
- Record Keeping and Trust Accounts (5 items)
- Requirements Governing the Activities of Licensees (11 items)
Step 5: Complete Requirements Needed for Colorado Real Estate License
This is an important step if you want to obtain your license in Colorado. As an incoming real estate agent of the state, you need to verify your history background if you want to get an active license. The Colorado Bureau of Investigation will assess and measure the validity of your fingerprints to ensure your good moral character stand. An error and omissions (E&O) insurance is also a necessary requirement to obtain your Colorado real estate license.
What is E&O insurance?
E&O insurance is a policy that protects you in the event of any unintentional error or omission while on active duty as a real estate agent.
If a client sues you for negligence even though it was a minor mistake, this could lead to an expensive cost on your part.
Having an E&O insurance helps you manage legal fees between you and the client and also protect you from any financial hardships you experience along the way.
Step 6: Receive Your Colorado Real Estate License
Congratulations on receiving your Colorado Real Estate License! To complete the application, the Colorado Division of Real Estate Online Services requires you to register with eLicense for new license applicants. Using the online eLicense services provided by Colorado should also help you manage your existing real estate license in the future. The total processing application time for your Colorado real estate license can take up to 10 business days.
Step 6: Receive Your Colorado Real Estate License
Congratulations on receiving your Colorado Real Estate License! To complete the application, the Colorado Division of Real Estate Online Services requires you to register with eLicense for new license applicants. Using the online eLicense services provided by Colorado should also help you manage your existing real estate license in the future. The total processing application time for your Colorado real estate license can take up to 10 business days.
FAQs
How long does it take to become a real estate agent in Colorado?
It can take between 2 to 4 months to complete the entire application process.
The fingerprint background check alone takes two weeks to finish. We suggest doing this first so you can use this time while waiting to study and complete any other pre-requisites needed.
How difficult is the Colorado real estate exam?
The passing rate for the final exam is 75%. The National section of the exam requires 60 correct answers and 53 correct answers for the State section to pass.
Key elements to help you pass the exam are:
- Choose the best style that fits your learning experience
- Maintain focus during the examination
Some prefer the traditional class method and others enjoy a self-study routine. It’s best to try enrolling in a Colorado Real Estate online school for maximum results.
Adopting a hasty attitude in answering the examination questions is a common mistake most applicants make. We suggest reading each question carefully rather than trying to beat the clock.
Can you take the Colorado real estate examination online?
The examination is only available in respective PSI testing centers in Colorado.
How many times can you retake the Colorado real estate examination?
While I don’t want to scare you, you are only allowed a maximum number of 2 attempts on your licensing exam so be smart about it. We highly suggest using our study prep material which gives you 100% guarantee to pass.
Conclusion
Before you start dashing off, remember that becoming a real estate professional is more than just academic knowledge and performance. It also means building communication skills and good character throughout your career.
We hope this article helped you in your pursuit of becoming a real estate broker in Colorado! We believe you’ll do a fantastic job from here on out.
