Question About Real Estate License

[Benjamin Carver]

Hey BP! I'm an associate agent (showing realtor) with redfin in Texas. I am considering a move to colorado this summer but have an issue. I didn't realize going into it, but I am coming up on my one-year mark and need two years of being an agent to transfer to Colorado. So I basically have two options that I am aware of:

I need to choose between 1) moving to colorado and paying a broker to keep my license active for one year while not being able to use it so I can then transfer it to colorado after I hit the 2-year mark, or 2) starting over from scratch right away and getting my license in colorado this summer. 

This first year, I have SAE of 98 hours for the first renewal. Colorado requires 168 for new agents so I'm thinking not that big of a difference anyways.

Even if I tried to keep my license active, I have no idea how I would do that from Colorado. Maybe find a virtual broker that doesn't care? Unsure about this.

Any and all input is gladly received! Thanks!

[Richard F.]

Aloha,

Of course this varies by state, but transferring still usually requires taking classes and passing the (new) state portion of the licensing exam. With regard to hanging your license in Texas for a year or more, it represents a very unknown liability to the Broker that would allow you to do so. If you still want access to the Texas MLS, that is additional expense; plus covering you under their E&O insurance and probably bonding. You would be much better off starting over in CO. You could possibly start taking courses online before you actually arrive there.

[Brett Deas]

Getting your license in CO is not hard. I would suggest you start the classes as soon as you can so when you move here you can immediately get your license and start going with it. 

[Tony Flores]

Are you planning on being a REALTOR® there? If I understand you correctly you would rather transfer your TX license and get CO license. You can hang your license as inactive (you can get paid on referrals only) with some companies like mine. Have you done GRI classes? That's 90 hours.
Possible other idea that may work as well 

[Tony Flores]

Quote from @Tony Flores:

Are you planning on being a REALTOR® there? If I understand you correctly you would rather transfer your TX license and get CO license. You can hang your license as inactive (you can get paid on referrals only) with some companies like mine. Have you done GRI classes? That's 90 hours.
Possible other idea that may work as well 

[Tony Flores]

Quote from @Tony Flores:

Quote from @Tony Flores:

Are you planning on being a REALTOR® there? If I understand you correctly you would rather transfer your TX license and get CO license. You can hang your license as inactive (you can get paid on referrals only) with some companies like mine. Have you done GRI classes? That's 90 hours.
Possible other idea that may work as well 

The other question is: does Colorado count inactive periods of time to fulfill 2 years?

[Russell Brazil]

If you get a license via reciprocity, you typically need to maintain that old license as well. If it goes inactive, that will invalidate all reciprocal licenses to it.

[Benjamin Carver]

Quote from @Richard F.:

Aloha,

Of course this varies by state, but transferring still usually requires taking classes and passing the (new) state portion of the licensing exam. With regard to hanging your license in Texas for a year or more, it represents a very unknown liability to the Broker that would allow you to do so. If you still want access to the Texas MLS, that is additional expense; plus covering you under their E&O insurance and probably bonding. You would be much better off starting over in CO. You could possibly start taking courses online before you actually arrive there.

That is the conclusion I am leaning toward. Especially as a first-year renewal, it looks like I can take 120 instead of the 168 for CO, when I'd already have to take 98 SAE in TX. Thanks for the comment

[Benjamin Carver]

Quote from @Tony Flores:

Quote from @Tony Flores:

Quote from @Tony Flores:

Are you planning on being a REALTOR® there? If I understand you correctly you would rather transfer your TX license and get CO license. You can hang your license as inactive (you can get paid on referrals only) with some companies like mine. Have you done GRI classes? That's 90 hours.
Possible other idea that may work as well 

The other question is: does Colorado count inactive periods of time to fulfill 2 years?

 Looking into that. Information not always clear but looks like inactive may count. If so, I think I have a brokerage lined up for referrals. But still might make more sense to take the 120 hours and just knock it out instead in CO.