In Colorado, real estate professionals are required to renew their licenses periodically to maintain their ability to work in the field. It can be intimidating, but with the appropriate knowledge and planning, you can renew real estate license in Colorado smoothly. Here are some top tips to help you navigate the real estate license renewal process in Colorado.
1. Know The Renewal Requirements
When renewing your license, you must first learn the Colorado Division of Real Estate’s criteria. The requirements for renewing a broker, salesperson, or associate broker’s Colorado real estate license every three years differ.
For most professionals, the renewal process includes completing continuing education (CE) requirements. As per the current regulations, you’ll need to complete 24 hours of approved CE courses every three years. These courses cover critical aspects of real estate practice, such as ethics, legal updates, contracts, and fair housing.
It’s important to check the exact requirements for your license type and ensure that you’re taking courses from an accredited provider. Keeping track of these requirements throughout the license period will save you from scrambling to complete them at the last minute.
2. Stay Ahead Of Deadlines
To avoid late fees and potential penalties, it’s crucial to stay on top of the renewal deadlines. Colorado lets you renew your license 90 days before expiration. You’ll want to mark the date of expiration on your calendar and set reminders leading up to it.
Failure to renew on time can result in the suspension of your license, which means you won’t be able to legally practice real estate in Colorado. While the Division of Real Estate allows a grace period, it’s always better to renew ahead of time to avoid any interruptions in your ability to work.
3. Complete Your Continuing Education Early
Procrastination is the enemy when it comes to real estate license renewal. Many real estate professionals wait until the last minute to complete their CE courses, which can lead to unnecessary stress. Start taking your CE courses early in your license cycle so you’re not rushed as the expiration date approaches.
Additionally, some courses may have limited availability or specific enrollment deadlines, so starting early gives you a wider selection of courses and ensures that you meet the CE requirements on time.
4. Double-Check Your Course Credits
Before you submit your renewal application, verify that the CE credits you’ve earned are accepted and meet the required topics. The DRE provides a list of approved course providers and offers specific guidelines on the types of courses that count toward your renewal.
Keep track of your completed courses, and be sure to check that your course provider submits your credits to the DRE. If you are taking the courses online, some platforms automatically report your completion to the DRE. If you’re unsure whether your course provider reports the credits on your behalf, it’s your responsibility to confirm and ensure your records are up to date.
5. Complete Your Renewal Application Online
In Colorado, renewing your real estate license is a straightforward process, thanks to the online system provided by the DRE. You can apply, pay costs, and provide CE course proof through the online site.
Ensure that all of your information is up to date before submitting your application. Double-check your contact information, especially if you’ve recently moved or changed employers, as the DRE will use this information to contact you about your renewal status.
6. Submit The Appropriate Fees
The renewal process includes a fee, which can vary depending on your license type. Make sure you submit the payment along with your renewal application. The cost can be paid online by credit card or electronic check.
If you miss the payment or fail to submit the correct fee, your renewal application will not be processed, which could delay your ability to continue practicing real estate. Be sure to confirm the exact amount before submitting your payment.
7. Maintain Your License Status
Once you have submitted your renewal application, it’s a good idea to regularly check the status of your license online to ensure it has been processed and approved. The DRE’s online portal allows you to track your renewal application and verify that your license is active and in good standing.
If there are any issues or additional steps needed, the DRE will notify you. Respond to any requests promptly to avoid any disruptions in your ability to work as a real estate professional.
8. Plan Ahead For Special Circumstances
Illness, family emergencies, and personal difficulties might delay license renewal. If you anticipate any issues that may delay your renewal, contact the DRE ahead of time. The DRE may offer extensions or other accommodations in certain situations, but you must request them before your license expires.
Conclusion
Renewing your real estate license in Colorado doesn’t have to be a stressful experience. By staying ahead of deadlines, completing your continuing education early, double-checking course credits, and submitting your renewal application online, you can ensure that the process goes smoothly. Keep all the required documents and fees in order, and be proactive in maintaining your license status. With these tips, you can continue your real estate career with confidence and avoid any unnecessary delays.