HOW TO BECOME A REAL ESTATE AGENT IN COLORADO

We all know that the real estate industry has been hot lately. Many aspiring agents take classes and require education to get a real estate license. “Getting a real estate license is a must,” says Chris Linsell – a real estate coach. If you’re considering being one, then you must take 168 required education and exams, be at least 18 years old, and be able to find a sponsoring broker.

It’s not like other professions that require years and years of education to be a professional real estate broker. In most states, the process of becoming one is almost the same. If you’re living in Colorado and considering pursuing a career in this industry, here are the steps to become a real estate agent in Colorado. Keep in mind as you read the following that you can ask around at several Denver real estate agencies to get more details. Many agents are happy to help.

1. REQUIRED EDUCATION  

You must know that there is a required 168 hours of education if you want to be an agent in Colorado. This education is a college-level real estate course, DORA-approved. After you register and complete this course, you can then apply for the Real Estate License Exam. Just make sure that you study hard if you want to pass the test, as it is not exactly easy. 

You can search online for nationally accredited universities, community colleges, and DPOS-approved real estate schools and start researching before you even register.

2. LEGAL AGE

Besides being a legal U.S citizen, you must be 18 years old to take the real estate exam. For most states in the United States, eighteen is the legal age to register and apply for exams to get a real estate license.

3. BACKGROUND CHECK

Every applicant must undergo a background check, and they must submit fingerprints to the CBI or Colorado Bureau of Investigation. Colorado wants to ensure that all applicants for real estate licenses have a clean criminal background; as we all know, it involves people’s safety and a large sum of money. All information, specifically the fingerprints, will be analyzed by the FBI system.

You’ll have to start early as this process takes several weeks to complete. The state will grant your real estate license after the CBI runs a background check on you.

4. LICENSING EXAM

Of course, after you complete the 168 hours of required education, you can start applying for the licensing exam. Agencies require this. If you look, there are some exam prep courses that you can get once you register. Research is the key to gathering all the information you need before taking the next steps in getting your license.  

To pass the exam, a score of 75% is required. Reach out to PSI Candidate Care Center at 800.733.926 to schedule an exam reservation.

· Exam fees

As of 2021, the first time you take the exam, you’ll be paying $44.95. Re-taking it will cost you an additional $42.50 fee.

· Exam Questions & Scores

There are two portions of the exam; state and national. One hundred ten minutes are given to complete the state portion, and 120 minutes for the national part. As noted above, you must get a 75% score to pass the exam. So, you’ll have need 60 correct answers to do that. 

After passing, you can get E&O insurance and then gather all the required Colorado Real Estate Broker License documents.

5. APPLY FOR REAL ESTATE BROKER LICENSE

Yes, we’re so proud of you. You’ve come a long way. This is the last step for you to get your license and feel the honor of being a professional agent. YAY!

Colorado uses an online application system, and you can register and apply online. Of course, there will be a fee that needs to be paid. If there are no issues, and you submitted it correctly, you’ll finally be issued a Colorado real estate license.

Why Real Estate Investment Is A Good Investment

There are numerous reasons why real estate is such a good investment. First, the returns are extremely profitable. Besides, you rarely have to worry about maintenance costs or homeowners associations. Another reason why investing in real estate is such a good investment is the potential appreciation of the property. Finally, real estate investment can also be straightforward and relatively risk-free if you are willing to take the time to learn about the investment. This article will go over some of the main reasons you should learn about real estate and why it is smart.

 It may seem like a no-brainer, but many people jump into the real estate investment without learning about the industry and without really knowing what they are doing. You can become an expert in the field pretty easily if you are willing to learn. There are many amazing ways to learn about real estates buying online, such as on Youtube and Skillshare.

 The first reason you should become familiar with real estate is that it is such a great way to create wealth. You can purchase a property and add it to your portfolio. You can also make money by flipping the property. You can also hold onto the property and let it gain equity as your family grows. As long as the household’s value remains steady, you can have a steady income from the real estate.

 If you are not familiar with the real estate world, it cannot be very clear. There are so many rules and regulations and laws that make it hard to get involved in the real estate game. One of the easiest ways to make sure that you do business ethically and follow the letter of the law is to hire a lawyer to oversee your property. The lawyer can make sure that you follow all of the regulations and point out any shady deals you might be missing. You will make much more money if you invest in real estate legally.

 Many great cities in the United States have real estate for sale. You can purchase homes at a great price and turn them around to sell for a nice profit. These cities have a low cost of living, making it easy for new home buyers to buy real estate for below market value. When you purchase real estate this way, you can quickly increase the value of your investment and make a nice profit.

 Another reason why real estate is such a good investment is that it is stable. Even during the worst recession since the 1930s, people were buying homes. This means that even if the real estate market crashes now, you can still make money by selling it later.

 Finally, real estate is something that you can use yourself. If you own the property, you do not need to pay rent. You also do not have to worry about maintaining the property, repairing things, or anything else that you would have to pay someone to do for you. When you invest in real estate, you will be able to do all of those things yourself, making sure that you always get the most out of your investment.

Things You Need To Know Before Relocating

Whether you are choosing to relocate or your employer has made that choice for you, there are several things you need to know before relocating. Each of these things has an impact on how your life will be going forward and how they will impact your spouse and children, if applicable. Most people might investigate the area or city to which they are relocating just out of curiosity, but for those relocating for work, this research should be classified as a necessity. 

 For one, you should see what part of the city you are relocating to. Is it a nice part of town, or is it so rundown that you should consider moving to another part of that city before you even start relocating? Thanks to internet maps, satellite views, and 360-degree tours, you can see exactly where your new home or apartment is located. For those that have not been part of the relocation choice or process, these technology tools will help them (and you) get a really good look at your new home before you get there.

 Two, research the local schools. How do the district schools rate? Which one is closest to where you will be living? Is there any private school or charter school options? These questions are all very important if you are relocating with children. You want the best possible education and the safest schools for your children when you are a parent.

 Three, find out what the crime rates in the city are like. What was the most prolific crime last year, and does it affect your new neighborhood? For example, were there a lot of break-ins near your future home, or is your home located in a very crime-quiet neighborhood? Knowing what to expect in terms of crime rates and the types of crimes happening in the city and suburbs gives you an idea of what to expect when you finally move there.

 Four, locate the nearest hospitals and health clinics. So many people relocate and fail to do this within the first few months of moving to a new city and then don’t know where to go when they are really sick or have a medical emergency. Googling a city plus hospitals or health clinics helps you know where, how close, and the types of medical services provided by the hospitals and clinics within a few minutes of your new home.

 Five, and finally, compare and contrast rent and mortgage rates where you are headed. Find out what the high and low rental costs are for similar apartments. Then find out what the least and most purchase prices are for single-family homes throughout the city. This usually can be done by contacting one or more real estate agencies and asking for this data. Some of the other data and information mentioned above may also be available through a real estate agency if you ask for it. Having rental and mortgage rates for the city you are relocating to helps you select a new home when you arrive there, and you either are staying somewhere temporarily, or you get to choose your new home before you arrive.

How to Sell a Property at a Good Price

While selling your home can be exciting, it can also be a time in which hopes are dashed as your expected financial gain turns out to be a mirage rather than a reality. Preparing to maximize your profits is a wise choice. However, you must do your homework first.

There have been countless people who have trodden the path before us, only to be let down because their approach to selling their home was not advantageous. The following are eight practical steps that you can follow to ensure a maximum return on your investment.

• Advertise – The vast majority of people who see your home will first see it through avenues such as Zillow or Realtor.com. These websites offer you the wonderful advantage of advertising your home to the world.

It is important to take good pictures and a lot of them. Paint your home in a good light, and take the best pictures you can. Many people sell their home without anyone physically coming to see it but rather through the buyer simply seeing the home online.

• Price reasonably – A real estate agent should be able to properly appraise your home for you. Price it reasonably. If you price your home too high, you may eventually sell it. However, you run the risk of first having to drop the price, possibly quite frequently.

This will reflect poorly on your home. People may think they have a lot of leverage in their offer. It also may appear to would-be buyers that your home is flawed.

• Sell in the spring – Selling in the spring is a common trend in the real estate market. It can be harder for people to sell their homes in the winter. People do not usually want to move during the winter, and the pictures of dead grass and trees are less than appealing.

• Seller’s market – Within the market, there can times when the buyer has the advantage (there are more homes for sale than there are buyers). However, times will arise when the seller has the advantage.

Look for times when homes like yours are selling quickly, preferably in less than a month. If you notice this trend, it could be a good time to sell, as there are more buyers out there than there are homes for sale.

• Spruce up the place – Making minor investments of money or time on your home can prove to pay off considerably. Replacing faucets, cleaning up the yard, painting the walls, etc., could be exactly what is needed to convince a would-be buyer.

Another great benefit of making minor fixes and adding new features to your home is that you can advertise that you have done so. This is something that catches the eye of buyers as they search.

• Turn your lights on – As someone comes to see your home, make sure you turn all the lights on. This will illuminate the home and drive away from the darkness and the dreary feeling that comes with poorly lit rooms.

• FSBO – The For Sale By Owner (FSBO) approach is not for all, but if you decide to go this route, you could save a lot of money. Real estate agents typically receive 5-6% of the sales cost on your home. If you cut out the agent, you will pocket the money instead.

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