Colorado Real Estate Volume 1: Unit 2:
Types of Licenses & License Rules
There are 3 levels of licensing in CO. What are the 3 levels? - ANSin order from lowest to
highest level
1. Associate broker
2. Independent broker
3. Employing broker
Employ*ing* Broker - ANSHires/supervises an associate broker
*otherwise known as brokers*
What is required of you to become an employing broker? - ANS1. must have license for at
least 2 years
2. attend more schooling
Independent Broker - ANS- Has 2 or more years of active experience
- works ALONE
- they CANNOT hire/supervise any other broker
T/F: You must attend more schooling to achieve independent broker status. - ANSF
IMPORTANT TO KNOW: - ANSassociate broker, broker-associate, broker, licensee,
employed broker, and designated broker *all mean the same thing and are used
interchangeably on the exam*
Broker associate - ANS2 years or less of active experience, or you remain under an
employing broker
*must be under employing for at least 2 years*
What are the license renewal requirements in CO? - ANS1. licenses must be renewed every
3 years
*all licenses expire on 12/31 at the end of 3rd year*
To have your license renewed, what are the continuing education (CE) requirements in CO?
- ANSbrokers must complete *24 hours* of CE
- 12 must be the Commission's Annual Commission Update (ACU) course (what the state
provides for us every year)
- 12 hours of electives (ex- NAR ethics class you have to take every 2 years)
All of the following courses do NOT count towards your 24 hours: - ANS1. personal
marketing
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Rosedocs. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
