A career in real estate can be both lucrative and rewarding, providing you with the ability to meet a wide range of interesting people while enjoying a flexible schedule that complements your lifestyle. But there is also a lot to learn before you can be a licensed real estate agent. You need to be knowledgeable about the federal and state property laws governing real estate transactions in your area, the real estate market in your local area, how to structure a real estate contract, how to negotiate with other agents, and a variety of other items. So it should come as no surprise that there is an extensive licensing process associated with becoming a real estate agent in Colorado.
The good news is getting your real estate license is easily achievable if you’re willing to put in the time learning the material in your coursework. Once you become a licensed real estate agent, you’ll likely find that you’re able to unlock an income and lifestyle that is hard to achieve with other career paths.
Before getting your real estate license, it’s important to understand what you’re signing up for. A real estate agent is a professional who works with buyers and sellers to help them complete their real estate transactions. They use their industry knowledge to help buyer clients find the right property for their needs and they help them navigate the entire transaction, from submitting an offer through everything that must be completed before closing. When working with sellers, they assist with marketing the property, developing the best strategies to maximize the sale price, and every aspect of the transaction through the closing.
The daily responsibilities of a real estate agent are quite varied and often include:
You must be at least 18 years old to get your real estate license in Colorado. In addition, you must complete the following pre-licensing requirements before you can start your real estate career.
This coursework can be taken in person or via online real estate classes. You must complete all coursework before taking the Colorado real estate exam.
Once you’ve completed all coursework and passed the final exams associated with each course, you’re eligible to take the Colorado real estate exam. There are two sections to the exam – the national section and the Colorado section. You must score 75% or better (60 out of 80 questions) to pass the national portion of the exam and 71.5% or better (53 out of 74 questions) to pass the Colorado section.
PSI is the third-party organization that administers the exam. You can sign up to take the Colorado real estate exam on their website:
You must submit your fingerprints and complete a background check in order to get your license and become a real estate agent in Colorado. Your fingerprints will be sent to the Colorado Bureau of Investigation and used as part of your criminal background check.
Learn more about how to submit your fingerprints.
You’ll need to join a real estate brokerage as a new agent. Your brokerage will provide guidance that is invaluable as you begin your new real estate career. Prior to applying for your license, you’ll need to provide documentation that you’ve joined a brokerage.
Choosing a brokerage is different than what you’ve typically experienced when looking for other jobs in different industries. Many brokerages are looking for new agents, and they often provide mentorship programs that will help new agents develop the foundation for a successful career.
In addition, you must purchase an Errors & Omissions insurance policy and provide proof of your active policy prior to obtaining your license.
Once you’ve completed all the steps listed above, you can apply for your Colorado real estate license. You’ll need to create an account with the Colorado Division of Real Estate and submit your application through their online eLicense system.
The license fee can cost up to $485. Once your application is submitted, it typically takes up to 10 days for the state to process your application and issue your real estate license.
Both terms refer to licensed real estate professionals who work with clients looking to buy, sell and lease residential or commercial property. In addition, the educational requirements and responsibilities for both real estate agents and REALTORS® are virtually identical. However, a REALTOR® refers to a real estate professional who is a member of the National Association of REALTORS® (NAR), the largest trade association in the country.
In order to become a member of the NAR, you must complete 2.5 hours of NAR Code of Ethics education every three years. Once you have your real estate license and complete this additional educational training, you can get your NAR membership and become a REALTOR®.
If you’re interested in becoming a real estate agent, Colorado Real Estate School can set you up for success in your new career. Our online real estate courses are packed with information on the essential topics covered on the Colorado real estate exam. Not only will our courses help you pass your real estate exam and get your license, but they will provide the foundation you need as you begin building your new business.
All our online real estate courses are developed and taught by local, licensed real estate professionals, and they contain the insights you need to grasp the latest trends impacting the industry. In addition, our online format allows you to work through the courses at your own pace so that you can fit your studies into your busy schedule.
You’ll also benefit from our VideoConnect Success Learning System™ containing the largest library of video content available. These video lessons relay the important concepts in our courses in an engaging format, creating an authentic classroom experience that makes it easy to master the subject matter.
If you struggle taking exams and would like additional help, we also offer a comprehensive exam prep course to ensure you’re ready for the test. Our exam prep courses feature interactive, video and live instructor learning features covering all the essential topics you’ll need to master for the exam. You’ll also have access to practice exams, our instructor-led exam cram sessions, and a variety of other tools to optimize your learning.
At Colorado Real Estate School, we’re truly committed to your success, and we back up this commitment with our TruSupport Pass Guarantee™. If you don’t pass your exam on the first try, one of our instructors will work with you to analyze your results and identify the areas where you struggled. Then, we’ll help you create a customized study plan focused on the subjects you find most challenging. You’ll also receive extended access to our course materials while you study to retake your exam.
Contact us today to learn more about our online real estate courses.
