Colorado License LawIntermediateColorado Exam
A Colorado broker who wants to operate their own real estate firm must hold which type of license?
AA. Associate broker license
BB. Employing broker licenseCorrect
CC. Managing broker license
DD. Principal broker license
Why B. Employing broker license Is Correct
Answer B: B. Employing broker license
In Colorado, only an 'employing broker' can operate a real estate brokerage firm and supervise other brokers. An associate broker must work under an employing broker and cannot independently supervise others or operate their own office.
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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.
State-Specific Concepts
Broker Supervision
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