The following is all the information needed for obtaining a Broker license and how@ Home Prep can help pass the state exam!
The following are three different kinds of brokers
Associate Broker- must be employed and supervised by an employing broker or on inactive status.
Independent Broker- This level of authority allows you to be (1) independent (self employed without employed licensees) (2) in the employ of another broker or (3) inactive
Employing Broker- This level of authority allows you to: (1) employ and supervise other licensees, (2) be independent (self-employed with employed licensees) (3) in the employ of another broker (4) inactive
| License Education: | - 168 hour pre-licensing course
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| Continuing Education: | - 12 hours every three years
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| Other Requirements: | - Must be 18 years old
- Undergo a criminal background check
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| Applications: | To Apply, contact the state of Colorado (303) 894-2166. The application fee is $250 |
| Reciprocity | The Colorado Real Estate Commission has entered in to reciprocal agreement with the following states: - Alabama
- Arkansas
- Connecticut
- Georgia
- Idaho
- Iowa
- Kentucky
- Louisiana
- Massachusetts
- Minnesota
- Mississippi
- Montana
- Nebraska
- New Mexico
- New York
- North Dakota
- Oklahoma
- Oregon
- Pennsylvania
- South Dakota
- Tennessee
- Utah
- West Virginia
- Wyoming
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| Examinations: | - The testing company is PSI (1-800-733-9267)
- The exam fee is $75
- The exam is divided in to two sections, state and national sections with a 2 hour 50 minute time limit
- Topics on the national portion include business practice and ethics, agency, property, property valuation and the appraisal process, real estate sales contracts, financing, closing/settlement and transferring title, property management
- Topics on the state portion of the exam include ownership/transfer, licensing, activities of licensees, finance/settlement, leasing and property management
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| Helpful Books: | - Real Estate Fundamentals, 6th Edition
- Modern Real Estate Practices, 16th Edition
- Real Estate Law, 5th Edition
- Marketing Real Estate, 3rd Edition
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| How We Can Help: | |
