The most common question is what does it take to become an agent?
The agency that regulates real estate broker’s license in Colorado is known as DORA. As of Jan 1st, 2015, the following is required of a new applicant:
- 168 hours of Education by Accredited School
- Passing both portions of the Colorado Real Estate Broker’s Exam.
- Background Check
- Obtaining Errors and Omissions Insurance
You can expect it to cost in the range of $2000-$3000 to obtain your license including the cost of education and fees.
Maintaining your license for subsequent ongoing years can be as little as your O&E costs, MLS access, and CE credit costs, and as much as you put into your marketing. You can expect to spend approximately $800-$1500 per year to keep your license active for subsequent years, exclusive of any marketing costs.
New agents are called “associate brokers” and required to be under the supervision of a managing broker for 2 years. See more about why Elevate may be a good fit for you under Why Join Elevate!
For information on the Colorado real estate market please reference CAR’s 2014 Snapshot on the 2014 Colorado Real Estate Economy. CLICK HERE to download.