Colorado License LawIntermediateColorado Exam
A Colorado broker engaged in property management for compensation must hold:
AA separate property management license in addition to their broker license
BAn active real estate broker licenseCorrect
CRegistration with each county where they manage property
DA minimum of 5 years of management experience
Why An active real estate broker license Is Correct
Answer B: An active real estate broker license
Property management activities (negotiating leases, collecting rents on behalf of others for compensation) constitute real estate brokerage in Colorado, requiring an active real estate broker license.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
Broker Supervision
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