Agency
A Colorado broker who is related to the buyer in a transaction must disclose this relationship to:
AOnly if the relationship affects the commission amount
BThe seller as a potential conflict of interest✓ Correct
COnly if the buyer requests the disclosure
DOnly after the transaction closes
Explanation
A Colorado broker must disclose any personal interest or relationship with a party in a transaction as a potential conflict of interest. Failure to disclose could be a violation of the broker's duty of honest dealing.
Related Colorado Agency Questions
- Under Colorado law, a 'designated broker' in a large brokerage may be assigned to represent only one party in a transaction where other brokers in the same office represent the other party. This is called:
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