How to Get a Colorado Employing Broker License

Many real estate agents see becoming an employing broker as the next step in their real estate career. To help you start on your new path in Colorado, we’ll walk you through the steps to get your employing broker license and explain the associated costs and time commitment.

First things first: In Colorado, a real estate agent is referred to as a broker. If you’re looking to upgrade your license, you will be working toward becoming an employing broker. Employing brokers can manage brokerage offices and employ associate brokers to work for them. They are also equipped to handle the more technical aspects of real estate transactions.

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What Are the Employing Broker License Requirements in Colorado?

Compared to many other states, the process and prerequisites for becoming an independent broker in Colorado are actually pretty simple. To be eligible to become an employing broker in Colorado, you must have held an active broker license for the past two years. You’ll also need to take a class and rack up some experience points, but we’ll get into that in our step-by-step guide below. 

How to Get a Colorado Employing Broker Real Estate License

How to Get a Colorado Employing Broker Real Estate License

Complete 24 hours of brokerage administration course

Show proof of 50 experience points

Apply for your Colorado Real Estate Employing Broker License

Let’s break down each step a little further so you have all the information you need to get started.

1. Complete a Brokerage Administration Course

• Cost: $199 (through Kaplan)
• Time commitment: 1-2 weeks
• Helpful resource: 6 Best Real Estate Schools in Colorado for 2023

If you’ve met Colorado’s requirements to qualify for an employing broker license, you can enroll in the 24 hours of brokerage administration classes. This short course will teach you the laws, business practices, and rules required to manage and operate a brokerage.

A variety of local real estate schools offer the brokerage administration education via online, self-paced, or scheduled livestream classes, so you can complete the course from the comfort of home.

If you are looking for a real estate school that can take you through the course material easily and efficiently, we recommend taking a look at Kaplan’s course offering. They have a long-standing reputation for providing top-notch real estate instruction online, all at an affordable price.

2. Accumulate & Show Proof of 50 Experience Points

• Cost: None
• Time commitment: Up to 5 years
• Helpful resource: Colorado Division of Real Estate website

Experience points are a way to quantify the value of a Colorado real estate professional’s experience in our industry. There are lots of ways to earn them (see below), which means you may have already accumulated what you need for this step.

To help you understand how points are earned, we’ve outlined the points system below:

• 10 points for each full year that you’ve practiced as an employing broker
• 5 points for each full year that you were an employing broker charged with ensuring compliance with commission statutes and rules (you’ll need to include a copy of the detailed executed delegation of authority)
• 1 point for each hour of a continuing education completed after January 1, 2018 (up to 20 points)
• 3 points for each completed or closed residential sales transaction
• 6 points for each completed or closed commercial or vacant land sales transaction
• 2 points for each administered residential property management transaction
• 4 points for each administered commercial property management transaction
• 2 points for each completed or closed commercial lease transaction
• 1 point for each completed or closed residential lease transaction
• 2 points for each completed or closed timeshare sales transaction

You need to have accumulated 50 points within the last five years in order to apply for your employing broker license. Even if you have more than 50 points, it doesn’t make sense to include them in your application, since you’ll have to submit evidence for every point you claim. As the CREC says, “there are no awards for most points claimed on a submission.”

3. Apply for Your Colorado Real Estate Employing Broker License

• Cost: None
• Time commitment: 1-2 hours
• Helpful resource: Colorado Division of Real Estate’s Online Services website

You’re almost there! While Colorado doesn’t require that you take an exam to qualify as an employing broker, it takes a few hours to submit the necessary documents to upgrade your license. Luckily, you’ll be able to do it all online, and before you know it, you’ll be starting the next chapter of your career.

You will start by logging into the Colorado Department of Regulatory Agencies (CDRA) website, the same place you originally applied for your Colorado real estate license. On the CDRA website, select “Change License Level/Update Name and/or DBA.”

You’ll need to confirm your personal and professional information and provide your employing broker’s information using the employing broker experience and knowledge worksheet.

Then you’ll provide these supporting documents to qualify for your employing broker’s license:

• Proof of completion of your broker administration course from your real estate school
• Proof of having earned 50 experience points via transaction records
• Proof of successfully passing the Colorado portion of the real estate broker exam

Once you’ve completed the application process, you can check the status of your request on your online account at any time. Once you get the approval email from the Colorado Real Estate Commission, it’ll be time to celebrate!

How Much Does It Cost to Get a Colorado Real Estate Broker License?

Quick Facts

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Colorado Real Estate Governing Board:

Colorado Real Estate Commission

schedule

Education Requirements:

24 hours

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Cost of Colorado Real Estate Broker License Course:

$199 (through Kaplan)

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Total Estimated Cost:

$199

Because the Colorado Real Estate Commission doesn’t require you to take an exam, and there is no cost to change the status of your license, it only costs about $200 to change your license role from a broker to an employing broker in Colorado.

Sample Colorado Real Estate Broker License Costs

(Colorado real estate broker license costs as of October 2023)

How Much Does an Employing Broker Make in Colorado?

According to The Close’s salary information database, the average employing broker in Colorado makes $84,585 per year, which is higher than the national average of $79,781. This is a big pay bump compared to brokers, who make an average of $71,337 per year in Colorado. Remember, a Realtor’s income will depend on several factors such as location, years of experience, skills, and more.

Colorado Real Estate Employing Broker License FAQs

You may have more questions about getting your Colorado real estate employing broker license, so we’ve answered some of the most frequently asked questions below. If there’s something we’ve missed, let us know in the comment section. We’d love to hear from you!

Should I get my Colorado employing broker license?

How long does it take to become an employing broker in Colorado?

More Career Resources

We hope our guide was helpful in understanding the steps needed to take you to the next stage of your real estate career. We wish you nothing but success and continued growth in your exciting new path. At The Close, we continue to provide actionable strategies for every stage of your career.