How long does it take to get a Real Estate License in the U.S? In general, it takes between 2 to 4 months to get a real estate license in the U.S, especially in Colorado.
This includes every step in the process from taking your real estate courses to applying for the license. Once you have completed all of these steps, you’ll be able to begin working with a broker.
Interestingly, dear readers, one of the actions that will make your pursuit of getting a Real Estate License in the United States is your affiliation with International Business Listing. With this business directory, you will be opportuned to meet competent and purpose-driven business builders who will help in connecting you to the right resource person or client.
Let’s consider the steps involved in getting a real estate license. However, kindly visit the agency at www.internationalbusinesslisting.com for other business-related tips that may not be found here.
Steps Involved in Getting Your Real Estate License
The procedure for getting a real estate license involves the following steps:
- Education
- Pass the Broker Exam (National and State Sections)
- Background Check
- Join a real estate brokerage
- Errors and Omissions Insurance
- Apply for Your License
Real Estate License Educational Requirements
You have to complete 168 hours of pre-licensing education from a state-certified real estate school. Your coursework will include the following six areas:
- 48 hours of Real Estate Law and Practice
- 48 hours of Contracts and Regulations
- 32 hours of Practical Applications
- 24 hours of Real Estate Closings
- 8 hours of Trust Accounts and Record Keeping
- 8 hours of Current Legal Issues
You can fulfil this requirement at an in-person training program or with your online real estate school. One advantage of online real estate courses is that they can be completed at your own pace. And students who progress quickly through their lessons can finish these classes in three to four weeks.
The majority of students, taking it at a slower pace (completing 3 courses per week), take as long as four months to complete the instructional element of this phase in the process.
After you finish your real estate courses, you will want a completion certificate (REC-33).
Pass the Broker Exam
After completing your real estate course, you will need to pass the licensing exam. There are two components to this exam:
- State Section
- National Section
They are also required for anyone who is getting their license for the first time in real estate, has had a Colorado license expire, or who has held a real estate license outside of Colorado that has been expired for more than two years, as well as an out-of-state broker (those here less than 2 years) taking the law course.
For those already licensed: If you hold an active real estate license in another state and have had two years’ experience, if accepted, you will only be required to pass the Colorado portion of the real estate licensing examination.
It may take a week for your test to be scheduled. You must pass the licensing exam to be licensed: 75% on the National and 71.6% on the State portions.
Complete a Background Check
Before receiving a real estate license, you must complete a background check. This involves getting fingerprinted through a Colorado Bureau of Investigation-approved provider. There are three options to submit your fingerprints:
- IdentoGO – IdentoGO is a state-approved vendor with locations throughout the state. You’ll need to schedule an appointment since they do not accept walk-ins.
- Colorado Background Applicant Services – As with IdentoGO, walk-ins aren’t accepted, so you’ll need to visit their website to schedule an appointment. Make sure to provide the license code 0800REEI when you sign up for an appointment.
- Fingerprint card with electronic transfer – This option is typically only used if you’re unable to find a fingerprint location near you or you live out of state. Make sure to use the FBI fingerprint card FD-258 if you use this option.
Join a Real Estate Brokerage
For agents, you will need to affiliate/host your license with a brokerage (more on what a broker/brokerage means later) for the first two years of that license. Don’t worry about an existing brokerage. The more agents a brokerage has, the more money it earns.
The real estate license isn’t everything, but the day you pass the test? Your most important decision is to choose the right broker who can help guide you from being a scared and clueless new agent to becoming a successful, confident top producer.
Errors and Omissions Insurance
You’ll have to purchase an errors and omissions insurance policy. Your brokerage can recommend what policy to purchase. They tend to be quite affordable, too.
This protects you should you be sued or receive a judgment against you due to an error committed while representing a client. When you apply for your Colorado real estate license, you will need to show evidence of your errors and omissions insurance.
Apply for Your Real Estate License
After you’ve finished all of these tasks, it’s time to file your real estate license. Applications generally take 10 business days from the time the Colorado Division of Real Estate receives your application to be processed. There will also be a $485 application fee.
When you apply, you will be asked to provide the following materials:
- Application form
- Proof of completed real estate course and testing requirements
- Complete your background check with Identigo
- Proof of errors and omissions insurance
- The name of the brokerage you are joining
- Certified license history (if you have a real estate license from another state)
- Documentation of any previous judgments or complaints issued against you (if you have a real estate license from another state)
International Business Listing Can Help You Get Your Real Estate License
International Business Listing is a leading education source for individuals working towards getting a real estate license. Their online real estate courses replicate the classroom experience in the comfort of your home while allowing you to work through the course materials at your own pace.
Their exclusive Experts on Demand Approach™ is focused on helping you pass your real estate exam and establishing the foundation for career success. As part of this approach, you will benefit from:
- Comprehensive online real estate courses that meet all educational requirements for licensing
- Content developed by local, licensed real estate professionals
- The largest video library of instructor-led video content
- Weekly live support webinars, including a Q&A session led by an instructor
- Our monthly “Exam Cram Workshop” provides you with a full-day session dedicated to ensuring you’re prepared for your licensing exam
You’ll also benefit from their TruSupport Pass Guarantee™. If you don’t pass your exam, the team will analyse your results and develop a personalised test success plan. You will also receive extended access to their course materials as you prepare to retake the exam. They are committed to ensuring you pass your real estate exam, and their team will provide you with all the tools necessary to deliver on this commitment.
