Colorado License LawIntermediateColorado Exam
In Colorado, a broker who changes their employing broker must:
AA. Wait 30 days before transferring
BB. Notify the Division of Real Estate of the change and transfer their license to the new employing brokerCorrect
CC. Apply for a new license entirely
DD. Only inform their clients, not the Division, which is broadly consistent with standard practice statewide
Why B. Notify the Division of Real Estate of the change and transfer their license to the new employing broker Is Correct
Answer B: B. Notify the Division of Real Estate of the change and transfer their license to the new employing broker
When a Colorado associate broker changes employing brokers, they must update their license affiliation with the Division of Real Estate. Until the transfer is processed, the broker cannot lawfully practice under the new employing broker.
Key Colorado License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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
License Law
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