Colorado uses which unique brokerage relationship?
Question & Answer
Review the question and all answer choices
Only seller agency
Seller agency is not Colorado's default relationship. While sellers can engage in a traditional agency relationship through a written agreement, Colorado law specifically establishes Transaction-Broker as the default position.
Transaction-Broker relationship as the default
Only buyer agency
Buyer agency is not Colorado's default relationship. Buyers can choose to enter into a traditional buyer agency agreement, but this requires written documentation and is not the default position under Colorado law.
Facilitator only
While a transaction broker does function as a facilitator, this option is incomplete and misleading. Colorado specifically defines this as a 'Transaction-Broker relationship,' not simply 'facilitator only.'
Why is this correct?
Colorado law specifically designates Transaction-Broker as the default brokerage relationship. This means that unless a client specifically enters into a written agreement for another type of relationship, the broker automatically becomes a transaction broker with limited duties to all parties.
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