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General Information

Governing & Regulatory Authority

In Colorado all Real Estate transactions are governed by DORA.The Real Estate Division dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. The primary goal is active Consumer protection. To enforce state and federal laws, rules, regulations and standards and impose disciplinary action when recommended.

Brokerage Relationship

A brokerage relationship can be defined as a working relationship between a licensed real estate broker and a buyer or seller to engage the services of the licensed broker on behalf of the buyer or seller in acquiring or marketing real property. This relationship may be limited agency or non-agency according to the agreement of the parties. In the absence of a signed agreement regarding the brokerage relationship, the default position under Colorado License Law is "transaction-brokerage".

A great rule of thumb to keep in mind especially in real estate related transaction is: unless it is written and agreed by signature, it is not enforceable.

The 3 Agencies

The Colorado real estate Division offers the public 3 agencies to choose from when a Real Estate licensee is involved. A broker is required by law to inform the public in writing the services they are offered to choose from.

Seller agency: representing owing the loyalty and fiduciary duty to the seller only.

Buyer agency: owes the loyalty and fiduciary duty to Buyer only.

Transaction agency: Represents neither buyer nor seller just facilitates the transaction. Hence is not liable to either party.

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