Maria is a broker associate at Centennial Realty who has been representing the Garcias as buyer clients for three months. The Garcias fall in love with a listing that Maria also holds as the listing broker. Maria wants to continue working with both parties. Which Colorado brokerage relationship would allow Maria to assist both the Garcias and the seller in this transaction?
Correct Answer
D) Transaction brokerage, assisting both parties without representing either as a fiduciary
Colorado's transaction brokerage relationship allows a broker to assist both the buyer and the seller in the same transaction without owing full fiduciary duties to either party. This is a recognized and commonly used relationship in Colorado under C.R.S. § 12-10-401 et seq., and it resolves the conflict that would arise from dual agency by shifting the broker's role to that of a facilitator.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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