The state of Colorado requires you to obtain a real estate license in order to facilitate the buying and selling of property. Colorado is a broker-only state.
General Requirements for a Colorado Real Estate Broker License
- 18 years of age or older
- 168-hour pre-licensing real estate education
- Successful completion of the broker examination
- Proof of good character through a state and national background check
Colorado Real Estate Pre-Licensing Education
In order to become an Associate Broker, the first level of real estate licensing in Colorado, you must complete 168 classroom hours of instruction. This education requirement can be completed in a physical classroom or in a virtual classroom. It is very important that your 168 hours of education are organized in the following way:
- 48 hours of Real Estate Law and Practice
- 48 hours of Colorado Contracts and Regulations
- 8 hours of Trush Accounts and Record Keeping
- 8 hours of Current Legal Issues
- 24 hours of Real Estate Closings
- 32 hours of Practical Applications
The Colorado Department of Higher Education maintains an online list of Colorado Real Estate Schools.
Take the Colorado Real Estate Course Online
You can take the Colorado Real Estate Prelicensing Course completely online and at your own pace. If you are considering getting your real estate license, this is the easiest means of meeting the educational requirements. You can even save 10% by entering coupon code “NEWAGENT” at checkout.
Registering to Take the Colorado Real Estate Exam
Once you have completed the education requirement, you may register to take the broker’s exam. The Colorado Department of Real Estate employs PSI, an assessment company, to administer all real estate testing. You must register with PSI to make your testing appointment. This can be done online, by phone (800) 733-9267, by fax, or by mail. If faxing or mailing your registration you must print an application form. The $85 examination fee is due upon registering and can be paid via money order, cashier’s check, or credit card (VISA and MasterCard only).
Taking the Colorado Broker’s Exam
The 154-question exam is administered on a computer and contains both the national and state portions. Eighty (80) of the questions are devoted to the national portion and 74 questions are for the state portion. You must answer 60 of the national questions correctly to pass and 53 of the state questions correctly. You will receive separate scores for the two sections; if you fail one section you may retake just that section alone at a later date.
Your score will appear on the computer as soon as you submit your answers and indicate that you have completed the test. If you pass, real estate license applications are available at the testing center. If you fail, your score report will show diagnostic information indicating your troublesome areas. You may register to retake all or part of the exam 24 hours after your first attempt.
At the time you take your test, you can also complete the fingerprinting requirement for your license. PSI offers fingerprinting services at various testing sites; you should contact PSI to find out if this service is offered at your chosen testing center.
Obtaining a Colorado Real Estate License
Before you may submit your application for your license, you must first submit your fingerprints to Colorado Bureau of Investigation (CBI). You may have your fingerprints taken at various PSI locations when you take your exam or at the local police department. CBI then reports the results of your background check to Colorado Department of Real Estate. You do not need to wait for notification in order to submit your application.
Once you’ve submitted your fingerprints you may submit your application for your license. Remember, you must submit your application within one year of passing both portions of the exam; otherwise your test results are void. You will need to also include proof of your real estate education, proof of Error and Omission Insurance, and the $400 application fee.