It’s important to know what the state of Colorado requires to renew your real estate license if you’re a registered real estate agent. If you don’t renew your license on time, you could face fines or even have your license taken away, which could affect your job. If you want to keep your Colorado real estate license up to date and in line with state rules, this guide will show you the steps you need to take.
1. Understand the Renewal Requirements
In Colorado, real estate licenses are valid for a period of three years. To renew your real estate license, you must complete a series of steps, including taking continuing education courses and submitting your renewal application. The Colorado Real Estate Commission (CREC) is the governing body responsible for overseeing the renewal process.
Before you begin the renewal process, it’s important to know the deadlines. You have up to 90 days to renew your license before it runs out. However, once your license has expired, there’s a grace period of up to 31 days during which you can renew, though additional fees may apply. If you fail to renew your license within this grace period, you may be required to reapply for a new license.
2. Complete Continuing Education Requirements
One of the most important steps to renew real estate license in Colorado is fulfilling the continuing education (CE) requirements. To stay current, you must complete 24 hours of continuing education every three years. The CE courses must include:
- 12 hours of core curriculum: This includes topics like real estate law, ethics, agency law, and fair housing laws. These classes will make sure that you always know the rules that guide the Colorado real estate business.
- 12 hours of elective courses: These can be courses on various topics relevant to real estate, such as marketing, contract negotiations, or property management. Thanks to elective classes, you can focus on areas that are important to you professionally.
You can take these courses through approved providers like Colorado Real Estate School or other licensed CE providers. Many of these courses are available online, making it convenient to complete the required hours at your own pace.
3. Submit the Renewal Application
Once you’ve completed the necessary continuing education courses, the next step is to submit your renewal application to the CREC. The application can be filled out on the website of the Colorado Division of Real Estate. You’ll need to provide:
- Your real estate license number
- Your personal information (address, phone number, email, etc.)
- Proof of completed continuing education courses
You’ll also have to talk about your work experience and answer questions like whether you’ve been fired or convicted of a crime. When you answer these questions, you need to be honest and open. If you’re not, your repeat application could be delayed or denied.
4. Stay on Top of Deadlines and Fees
As you approach the expiration date of your real estate license, it’s essential to stay on top of deadlines. Submitting your renewal application and continuing education materials early will help avoid unnecessary stress and ensure that your license remains active. If you fail to meet the deadline for renewal, you may face additional late fees or penalties.
If your license has expired and you’re outside the 31-day grace period, you will need to reapply for a new license. This involves submitting a new application, completing background checks, and taking pre-licensing education courses again. This can be costly and time-consuming, so it’s always better to renew your real estate license on time.
5. Monitor Your License Status
After submitting your renewal application, monitor the status of your license to ensure that everything has been processed. The CREC will send you an email confirming that your renewal application has been accepted and your license has been updated. You can also check the status of your license on the Colorado Division of Real Estate’s website.
In conclusion, renewing your real estate license in Colorado is a straightforward process, but it requires careful attention to detail and timely action. By completing your continuing education, submitting your renewal application on time, and staying aware of all requirements, you’ll keep your license current and continue to work as a real estate professional in Colorado. Plan ahead to make sure you stay in line with state rules and continue to do well in your real estate job. Don’t wait until the last minute.
