Cost To Become A Real Estate Agent In Colorado
Becoming a real estate agent in Colorado can be a lucrative career choice for those who enjoy working with people and have a passion for real estate. However, before embarking on this career path, it is important to understand the costs involved in becoming a licensed real estate agent in Colorado.
Pre-Licensing Course Cost
In Colorado, aspiring real estate agents are required to complete 168 hours of pre-licensing education in order to sit for the licensing exam. The cost of these courses can vary depending on the provider, but typically range from $400-$800.
Licensing Exam Cost
After completing the pre-licensing education, aspiring agents must pass the Colorado Real Estate Broker's Exam in order to become licensed. The cost of the exam is $95.
License Application Fee
Once an aspiring agent has passed the licensing exam, they must submit their license application and pay a fee of $485.
Background Check Fee
As part of the licensing process, aspiring agents are required to undergo a background check. The cost of this background check is $39.50.
Errors and Omissions Insurance
Real estate agents in Colorado are required to carry errors and omissions insurance, which provides liability coverage in case of mistakes or errors in their work. The cost of this insurance can vary, but is typically around $500 per year.
Association Fees
Many real estate agents in Colorado choose to join a professional association, such as the Colorado Association of REALTORS® or the National Association of REALTORS®. These associations charge membership fees, which can range from a few hundred to a few thousand dollars per year.
Continuing Education
After becoming licensed, real estate agents in Colorado are required to complete continuing education courses in order to maintain their license. The cost of these courses can vary, but agents should expect to spend several hundred dollars per year on continuing education.
Conclusion
All in all, the cost to become a real estate agent in Colorado can range from a few thousand to several thousand dollars. However, with the potential for high earnings and a rewarding career, many find the investment to be worth it in the end.