Quick Answer: Colorado has full reciprocity with all states and U.S. territories! If you want to transfer your out-of-state real estate license, you have to pass the state section of the Colorado brokers exam and find a sponsoring broker.
You're a real estate agent planning a move to Colorado. But what happens to your existing out-of-state real estate license when you do?
The good news is Colorado has reciprocity with all U.S. states and territories. How will this impact your move? Let's first take a look at the concept of reciprocity.
What Does Reciprocity Mean?
Reciprocity allows a holder of a real estate license in one state to speed up the process of getting a license in another state. Since it's an agreement between states, the requirements can vary widely from state to state.
Reciprocity from State to State
States like Texas, California, and Montana don't have any reciprocity. This means out-of-state applicants must do the full training from scratch and retake the exams. Only then will they be eligible for the new license. You can see a full list of all states and their reciprocity status here.
There are five states with full reciprocity; Alabama, Colorado, Maine, Mississippi, and Virginia. Applicants can bypass pre-licensing education but must meet the basic conditions. Candidates do not have to retake the national exam as long as they pass the state exams.
Some other states allow a full license transfer when coming from a state with similar pre-licensing rules.
Basic Conditions for License Reciprocity
Most states have basic conditions applicants must meet even when they offer full license reciprocity. Instead of starting over, you may only have to pass the state exams.
Whatever the level of reciprocity, applicants will need to fulfill these basic conditions:
Complete a background check
Fill out an application
Have a current license in good standing
Colorado Real Estate Reciprocity
Suppose you hold a license in any U.S. state or territory. In that case, Colorado will accept your application for licensure with limited examination and/or pre-licensing education.
Colorado's real estate reciprocity takes into account your pre-license education and knowledge of real estate fundamentals.
In this case, changing your current license to a valid Colorado real estate license would only require taking the Colorado state licensing exams.
Converting to a Colorado Real Estate License
These are the steps to change your out-of-state license to a Colorado real estate license.
Complete and pass the state section of the Colorado Broker's Exam.
The Colorado Bureau of Investigation (CBI) will take your fingerprints and complete a routine background check; it can take several weeks.
Pass the Colorado Broker Licensing Exam. You will need a score of 75% or higher.
Register your Social Security number or other identification with the Colorado Real Estate Commission.
You will need a Sponsoring Broker to file your license application.
And finally, for an active license, you must have proof of Errors and Omissions insurance.
How Your Move May Look
Colorado is one of only five states to offer full reciprocity, so the process could look like this.
Let's say you are a real estate agent in Nevada and planning to move your family to Colorado. Colorado has real estate license reciprocity with all other states, so you will need to meet the basic conditions. After finding a sponsoring broker and taking the Colorado state real estate exam, you're all set.
Qualify for a Colorado Real Estate License Online?
Online real estate training allows you to study at a convenient time and at your own pace. If you have an out-of-state license and want to qualify for a Colorado real estate license online, contact our support team for details. They will be able to guide you to the training that will fulfill the Colorado reciprocity rules.