How to Become a Real Estate Agent in Colorado

Planning to start a career as a real estate agent? To get your real estate license, you will need to take classes at a real estate school, and satisfy all the requirements set forth by the Colorado Real Estate Commission.

 

Here's what you need to know to become a real estate agent in Colorado:

1) Licensing Requirements

2) Duties of a Real Estate Agent

3) What is a REALTOR®?

4) Income Potential

5) Real Estate Schools

 

How to Become a Real Estate Agent in Colorado

1) Real Estate Agent Licensing Requirements

In Colorado,  real estate agents MUST be licensed by the Colorado Real Estate Commission.  Colorado law is somewhat different that many other states in that it uses the "single license" concept. 

This means that all real estate licensees are considered brokers (other states have salespersons, commonly called agents, working for brokers). 

The education requirements for the first level license (known as associate broker) have been raised accordingly.   In Colorado, associate brokers work for employing brokers (additional training and experience required). 

 

To obtain your real estate associate broker license, you must:

  1. Satisfy the minimum requirements requirements to apply for the real estate exam:
  1. Apply to take the State exam
  2. Pass the exam
  3. Submit a fingerprint card for your background check
  4. Purchase Errors and Omission Insurance (E&O)
  5. Apply for the Real Estate License within twelve months of passing the exam.

 

 

2) Duties of Real Estate Agents

A real estate agent's main job is to assist their clients in the process of buying and selling real estate.

Their list of duties include:

 

3) What is a REALTOR®?

A real estate agent becomes a REALTOR® when he or she pays an annual fee to be a member of the National Association of REALTORS® and subscribes to its Code of Ethics.

The agent generally joins through the local board or association.

For example, in Denver, once you have obtained your real estate license, you may pay a fee to join the Denver Board of REALTORS®.  This also makes you a member of the Colorado Association of REALTORS® and the National Association of REALTORS®.

All REALTORS® are real estate agents but not all real estate agents are REALTORS®.

 

4) Income Potential

Real estate agents are generally paid based on a percentage of the sales price. The seller will generally pay 4-6% of the sales price as the fee and that will be split 50/50 between the seller and buyer's broker.

For example, if the fee for a $100,000 house is 6%, the buyer's broker will be paid 3% or $3000 and the seller's broker will be paid 3% or $3000 as well.   The agent is paid by his or her broker, according to their previously agreed-upon commission split.  This is often 50/50 for beginning agents, so in that case the agent in our example would receive $1500. 

According to the National Association of REALTORS®, the Median Sales price for an existing single-family home in the Denver area was $239,100 for the fourth quarter of 2004.

 

5) Real Estate Schools

Here is a list of real estate schools in the state of Colorado.

ACRE School
Online education only
54 Pine Road
Golden, CO 80401
(303) 526-7443
 

AIMS Community College
5401 W. 20th St.
Greeley, CO 80634
Toll Free: (800) 301-5388 X 6322
 

Alliance Real Estate School
2809 E. Harmony Road, Suite 100
Ft. Collins, CO 80528
970-420-5208

All Service Real Estate Academy
1573 Trenton St.
Denver, CO 80220
(303) 355-6653
 

A-Plus Real Estate School, Inc.
2300 E. 120th Avenue, Suite 116
Denver, CO 80233-1441
(303) 451-5152
 

Century 21 Academy Real Estate School
311 Main St.
Colorado Springs, CO 80911
(888) 574-9701
 

Coldwell Banker Real Estate Academy
2553 South Colorado Blvd. Ste. 106
Denver, CO 80222
(303) 750-0909
 

Coldwell Banker Real Estate Academy -
Colorado Springs
8610 Explorer Drive
Colorado Springs, CO 80920
(719) 548-0955

Coldwell Banker Real Estate Academy
141 Union Boulevard, Suite 200
Lakewood, CO 80228
(303) 750-0909

Colorado Mountain College
0255 Sage Way
Aspen, CO 81611
(970) 925-7740

 

Colorado Real Estate Institute
1780 S. Bellaire Street, Suite 222
Denver, CO 80222
(303) 744-1363
 

Colorado State University
Full-time CSU students only
Finance & Real Estate Department
Fort Collins, CO 80523-1272
(970) 491-5062
 

Empire Real Estate School
702 W. Drake Road, Bldg. A
Fort Collins, CO 80526
(970) 419-2241
 

Jones College, Colorado Springs
1919 N. Union Blvd.
Colorado Springs, CO 80909
(800) 660-0285
 

Jones College, Denver
2150 S. Cherry Street
Denver, CO 80222
(800)-660-0285
 

Metropolitan State College of Denver
Campus Box 75-173362
Denver, CO 80217
(303) 556-3747

 

Northern Colorado College Of Real Estate
3780 N. Garfield Ave.
Loveland, CO 80538
(970) 667-4747
 

Peak Real Estate College
3095 S. Parker Road, Suite 200
Aurora, CO 80014
(303) 898-7798

Pikes Peak Community College
Business Division
5675 S. Academy Blvd.
Colorado Springs, CO 80906-5498
(719) 635-9114
 

Pueblo Community College
900 W. Orman
Pueblo, CO  81004
(719) 549-3252
 

Real Estate College of Colorado -
Western Slope
701 Camino del Rio, Ste. 203
Durango, CO  81301
(970) 247-8530
(800) 339-8530
 

Real Estate Training Center
3225 S. Wadsworth Ste. S
Lakewood, CO 80227-5009
(303) 421-9078
(800) 999-7382
 

Target Real Estate Academy
2750 S. Wadsworth Blvd, #D-102
Denver, CO 80227
(303) 989-9802
 

University of Colorado
Leeds School of Business

419 UCB
Boulder, CO 80309-0419
(303) 492-3643
 

Van Education Center
4801 Riverbend Road, Suite 203
Boulder, CO  80301
(303) 245-0258
(800)455-8348
 

 

Also check out information on how to become a real estate appraiser in Colorado

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read about other real estate careers in Colorado:

 

 

 

 

 

 

 

 

 

 

 

Read some of the best real estate books out there to prepare yourself for your new career: