In amorphous solids, plastic flow is prone to localization into shear bands via an avalanche of shear-transformation (ST) rearrangements of constituent atoms or particles. However, such banding instability still remains a lack of direct experimental evidence. Using a real 3D colloidal glass under shear as proof of principle, we study STs' avalanches into shear banding that is controlled by strain rates. We demonstrate that, accompanying the emergent shear banding, the elastic response fields of the system, typical of a quadrupole for shear and a centrosymmetry for dilatation, lose the Eshelby-type spatial symmetry; instead, a strong correlation appears preferentially along the banding direction. By quantifying the fields' spatial decay, we identify an elastic criterion for the shear-banding instability, that is, the strongly correlated length of dilatation is smaller than the full length of shear correlation. Specifically, ST-induced free volume has to be confined within the elastic shear domain of ST so that those STs can self-organize to trigger shear banding. This physical picture is directly visualized by tracing the real-space evolution of local dilatation and ST particles. The present work unites the two classical mechanisms: free volume and STs, for the fundamental understanding of shear banding in amorphous solids.