 License and membership renewal requirements
Answers to frequently asked questions
Now is the time to check your real estate license to see when it expires. Licensees have a 30-day grace period from the expiration date of their license to complete the renewal process. Online renewal will be available 45 days from the first date of the month of expiration.
License renewal requires several steps, each of which must be done correctly and in a timely fashion. Below are answers to some frequently asked questions about the process, which includes education and errors and omissions insurance requirements.
In addition, maintaining membership in the REALTOR® organization means completing an ethics update class according to a specified timeline.
License renewal
Question: What is the difference between the Commission Update Course and the Quadrennial (NAR)Ethics Course?
Answer: The Commission Update Coursework is a requirement of the Colorado Real Estate Commission (CREC) for license renewal. The Quadrennial Ethics Course is a requirement of the Association for membership. The Quadrennial Ethics Course may be used for continuing education elective credit for license renewal unless you complete this requirement on NAR’s website. The NAR online course is not approved for C.E. credit in Colorado.
Question: How does a licensee meet the continuing education requirements to renew a license?
Answer: Licensees have several options:
a. Pass the state portion of the broker licensing examination during a renewal cycle, OR
b. For licensees in a short, less-than-three-full-year licensing cycle, complete two different versions of the Commission Update Course along with 16 hours of elective courses. For licensees in a full three-year renewal cycle, complete three different versions of the Commission Update Course plus 12 hours of elective courses, OR
c. Complete the 24-hour Brokerage Administration course (if not previously taken for C.E. credit) during your renewal cycle, OR
d Complete the 24-hour Broker Transition course (if not previously taken for C.E. credit) during your renewal cycle, OR
e. Complete 72 hours in the Colorado Contracts and Regulations course (48 hours) and Real Estate Closings (24 hours) during your renewal cycle.
Question: What happens if I missed one of the Commission Update Courses during my license period?
Answer: You may correct the delinquency by one of the following alternative methods:
a. Take and pass the Colorado part of the Broker Examination.
b. Once in your life, complete the 24-hour Brokerage Administration course.
c. Once in your life, complete the 24-hour Broker Transition course.
d. Complete 48-hours in Colorado Contracts and Regulations and 24 hours in Real Estate Closings (72 hours total).
Question: When must continuing education be completed?
Answer: Before renewing any active license; before applying to re-activate an inactive license; or before applying to reinstate an expired license on active status.
Question: Who is required to keep records of continuing education coursework?
Answer: Licensees are required to retain their own file of course completion certificates for at least four years, and provide them to the Commission upon request only. AAR maintains copies of completion certificates for courses that members take at the Association office.
Question: What other requirements are there in order to renew?
Answer: You must have current errors and omissions insurance. Updating of E&O insurance can be done online if you are using the statewide policy. The inception date for the Colorado statewide policy is Jan. 1 and you should renew your policy on or before that date to avoid a break in coverage and to protect yourself from uncovered claims. Your firm is also required to have license coverage in Colorado. Please note that your license renewal date and your errors and omissions renewal date may no longer be the same.
Question: Has the CREC approved a state-wide group errors and omissions policy for 2010?
Answer: The Commission approved a renewal for Rice Insurance to provide errors and omissions insurance in a statewide group policy. Licensees may select any company to provide errors or omissions insurance. Check with your Managing Broker about policy in your firm.
Question: What is the quickest way to renew?
Answer: By renewing online. Visit http://www.dora.state.co.us/real-estate/.
Ethics requirements
Question: How often must I take the Quadrennial Ethics Course?
Answer: In 2000, the Board of Directors of NAR approved a requirement that REALTOR® members complete a minimum of 2.5 hours of an ethics update course once in every four year period. The first period was from January 2001 through December 2004. The current requirement is from January 2009 through December 2012. If a member fails to complete the requirement, membership will be suspended during the months of January and February or until such time as the requirement is completed. Failure to complete the requirement after that period results in termination.
Several options for completing your requirement are available:
1. Attend a 4-Hour Ethics Update course in a classroom setting
2. Take the NAR Online Code of Ethics Course ($0/no C.E. credit). Visit www.realtor.org for more information.
Please note there is no charge for this course and no continuing education is offered for it in Colorado.
Members who have completed a New Member Ethics Course during the January 2009 – December 2012 time frame have met the requirement. The Professional Standards Update Course does not meet NAR’s requirements.
If you have completed this requirement at another location, please fax a copy of your certificate to AAR at (303) 369-5524.
Information for this article was taken from the Colorado Real Estate Commission website at www.dora.state.co.us and from the National Association of REALTORS® website at www.realtor.org. Please visit these websites for additional information.
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