Colorado Brokerage Relationships

In Colorado, there are a number of relationships available between a Buyer or Seller and a real estate broker. It's important to be aware of these relationships, and to ensure that they have been properly outlined by your real estate broker.

Colorado is one of the most innovative in the US, requiring that a broker communicates, at the earliest possible time, the different types of agency representations that are available in Colorado.

We feel that the most appropriate respresentation for a Buyer or a Seller is as an Agent, however Colorado offers the other effective options listed below.

When you first meet any real estate broker to discuss a property or your needs to sell or list a property, always request that they disclose "how they will be representing YOU" on this important and specific transaction.

Always work with a professional who knows and understands the laws and requirements of agency - It is for your protection!

Call us any time! We believe this area is of utmost importance to our business and to you!

Definitions of Working Relationships

(from the Colorado Real Estate Commission)

Denver


	Seller's Agent A seller's agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller's agent must disclose to potential buyers all adverse material facts actually known by the seller's agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller.


	Buyer's Agent A buyer's agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer's agent must disclose to potential sellers all adverse material facts actually known by the buyer's agent including the buyer's financial ability to perform the terms of the transaction and if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer.


	Transaction-Broker A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer's financial ability to perform the terms of a transaction and if a residential property, whether the buyer intends to occupy the property. No written agreement is required.


	Customer A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party's agent or as the party's transaction broker.