Colorado License LawIntermediateColorado Exam
A Colorado broker who receives a complaint from a client about another broker in the same transaction should:
AResolve the dispute personally by contacting the other broker
BAdvise the client of their right to file a complaint with the Division of Real Estate or through arbitrationCorrect
CIgnore it since brokers cannot report other brokers
DFile the complaint on behalf of the client without their knowledge, which is the approach most often followed
Why Advise the client of their right to file a complaint with the Division of Real Estate or through arbitration Is Correct
Answer B: Advise the client of their right to file a complaint with the Division of Real Estate or through arbitration
A Colorado broker should advise clients of their rights, including their ability to file a complaint with the Division of Real Estate if they believe another broker violated license law. Brokers can also refer matters to the appropriate professional organizations.
Key Colorado License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EasementA non-possessory right to use another person's land for a specific purpose.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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