Colorado Licensure Information

Introduction

Licensure is the process by which a regulatory agency grants permission to individuals
to practice a particular profession, vocation, or occupation and prohibits all others from
legally doing so. Licensure protects the general public by insuring a minimum level of
competence. The Colorado Real Estate Commission establishes the acceptable level of
competent practice and determines whether an individual meets that standard.

Colorado uses examination as one of several methods for determining a candidate's
qualification for licensure. The purpose of an examination is to measure a candidate's
knowledge of real estate subjects. Colorado has retained the services of a national
examination vendor to assist in the development and administration of its real estate
examination program. The examination reflects the practice of real estate in Colorado
and has been reviewed and approved by Colorado real estate brokers.

An applicant for a broker's license shall be at least eighteen years of age.

Testing

An examination is required of all applicants not previously licensed.
See the "Licensing Requirements" Grid below for education and examination
requirements pertinent to your situation.

The real estate examination IS NOT administered by the individual real estate schools and
college, but is administered by PSI Testing Service.  The state of Colorado has retained the services
of PSI  to develop and administer its real estate examination program.  To make an exam
reservation, call PSI at 1.800.722.9267 or visit them on the web at psiexams.com.  
 
The cost of the exam is $71.00.

Application

You must apply for your license within one year of the date of passing the entire examination.

Character

In addition to determining competency standards, the Real Estate Commission is
authorized by statute to require and procure proof of the truthfulness, honesty
and good moral character of any applicant.

Three Levels of Broker Authority

Colorado license law acknowledges three levels of broker authority:

Associate Broker: This is the entry-level license real estate brokerage. No previous
licensure or experience is required. An associate broker may hold an inactive license
or be employed by an employing broker.

Independent Broker: Requires two years of active licensure. An independent broker
may be inactive, self-employed (without employing other licensees) or choose to be
employed by an employing broker.

Employing Broker: In addition to two years' experience, a licensee must complete a
24-hour "Brokerage Administration" in order to qualify as an employing broker. A broker
qualified at this level may hold inactive licensure, practice independently, choose to be
employed and supervised by another employing broker or employ (and is required to
supervise) other licensees. Persons licensed as a real estate broker prior to
January 1, 1997 are qualified at the employing level