How To Get Your Real Estate License
Getting involved in real estate is not as hard as some may think it is. It takes a lot less time and money than other educational routes so for some it is a great alternative to traditional schooling. Of course rules vary by state, but here is a general guideline of how to get your real estate license.
The first step to getting your license is schooling. In the state of Colorado, you need 168 hours of class time in order to get your license. On average, this means it will take a working adult roughly 4 to 6 months to get their license.
The next step is to then pass the final exam. A passing score depends on the state, but for Colorado, you must pass this test of 100 in-state questions and 100 out-of-state questions with a 75% or better.
From there, you need to pass the Colorado Real Estate Broker License exam. This consists of two parts: a 120 minute, 80 question test that consists of national questions and then a 110 minute, 74 question state-specific portion.
Then, you need to pass a background check. This consists of submitting your fingerprints to the Colorado Bureau of Investigation where records from the CBI and FBI will be used to see if you have a clean history.
After that, you will need to get errors and omissions (E&O) insurance. This insurance is very important because without it, you can not receive an active real estate license.
Lastly, you need to complete your application and receive your broker license.
Having your real estate license is a great thing to have. It opens many doors for you and gives you great connections. When you have your real estate license, you can get access to better deals, networking opportunities, and other forms of commissions. It is a great way to make money as a main job or a side business as well as giving you plenty of options to work with so if you are thinking about getting your license, start now!