In Colorado, you need to renew your real estate license every two years to stay in line with state rules and keep working in the real estate field. If you don’t know what you need to do, the process can seem overwhelming. But if you know the steps you need to take and when they need to be done, it will be smooth and easy. In this piece, we’ll show you the most important things you need to do to renew your Colorado real estate license.
1. Understand the Renewal Timeline
In Colorado, real estate licenses are valid for three years. To avoid any lapse in your ability to work as a licensed real estate agent, it’s important to begin the renewal process well before your license expires. Your renewal will be due every three years from the date your license was first issued. Make sure you check the expiration date on your license to know when to start the renewal process.
2. Complete the Required Continuing Education (CE)
One of the main requirements for Colorado real estate license renewal is completing continuing education (CE). To renew your real estate license, you must complete 24 hours of approved CE courses within the three-year renewal period. These courses help you keep up with changes in the law, trends in your field, and best practices to make sure you stay informed and in line with the law.
The CE courses must include specific topics:
- 8 hours of mandatory coursework: This includes 4 hours of the “Colorado Real Estate Commission (CREC) Update” course and 4 hours of elective courses.
- 16 hours of elective courses: These can be selected from various real estate-related topics, such as ethics, contracts, property management, and more.
Make sure that the CE courses you take are approved by the Colorado Real Estate Commission (CREC). The CREC website has a list of providers that are allowed.
3. Submit the Renewal Application
As soon as you finish the necessary continuing education, you need to send the Colorado Real Estate Commission an application to renew your license. The application can be sent through the website for the Colorado Division of Real Estate. As part of your application, you will need to confirm that you have met all the other requirements for renewal and show proof of your education. You will also need to confirm that you have finished the CE requirements.
You will need to pay the renewal fee along with your registration. It costs $195 to renew a Colorado real estate license as of 2023. However, you should always check the website for the most up-to-date fees to make sure you have the right amount to pay.
4. Complete a Background Check (if necessary)
If your background has changed since your last renewal, you may be required to undergo a background check. The Colorado Real Estate Commission may ask for a new fingerprint-based background check if you have had any criminal convictions or legal issues. In these cases, you will need to follow the instructions from the CREC and submit the necessary documents. However, if your background has remained clear, this step may not be required.
5. Stay Compliant with Colorado Laws and Rules
Beyond completing CE courses, it is essential to stay up to date on any changes in Colorado real estate laws and regulations. Being proactive in understanding changes in property laws, contracts, and disclosures will help you avoid mistakes and remain compliant.
As part of the renewal process, you are required to confirm that you have read and understood the laws, rules, and regulations relevant to your real estate practice. Not only will staying informed help you follow the rules, but it will also help you learn more about your job, which will make you more useful to your clients.
6. Confirm Your License Status
After you submit your renewal application and all the necessary documentation, you will receive confirmation that your license has been successfully renewed. The site for the Colorado Division of Real Estate lets you see where your renewal application stands.
Once your license is renewed, you’ll receive a new license certificate. Make sure to keep this updated certificate in your records and continue practicing in compliance with state law.
Conclusion
Meeting the Colorado real estate license renewal requirements may seem like a lot of work, but by staying on top of your continuing education, submitting the correct documents, and following state guidelines, the process will be straightforward. By ensuring that you complete all necessary steps on time, you can continue to work as a licensed real estate agent without any interruptions. Regularly checking the Colorado Division of Real Estate website will help you stay informed of any changes to the renewal process and fees.
Remember, timely renewal of your Colorado real estate license is crucial to maintaining your career in the real estate industry. Don’t wait until the last minute—start your renewal process early and stay ahead of the curve.