Under Colorado's brokerage relationship statutes, which of the following duties does a transaction broker owe to the parties in a transaction that a single agent does NOT owe?
Correct Answer
B) Promoting the interests of one party over the other
A single agent (buyer's agent or seller's agent) owes fiduciary duties including the duty of loyalty, which means promoting the interests of their client over the other party. A transaction broker, by contrast, does NOT promote the interests of one party over the other. The transaction broker's role is to facilitate the transaction without advocacy for either side. This is the key distinction between single agency and transaction brokerage under C.R.S. § 12-10-401 et seq.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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