Agency
A Colorado broker working as a transaction broker owes the parties:
AA. Full fiduciary duties including loyalty and confidentiality
BB. Limited duties including honesty, accounting, and reasonable skill✓ Correct
CC. No duties whatsoever
DD. Only the duty to disclose material defects
Explanation
In Colorado, a transaction broker does not represent either party as an agent. Instead, the broker owes limited statutory duties: honest dealing, reasonable skill and care, proper accounting, and disclosing material facts — but not fiduciary duties like loyalty or confidentiality.
Related Colorado Agency Questions
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- A Colorado transaction broker who inadvertently reveals one party's confidential negotiating information to the other:
- A Colorado buyer's broker who receives confidential information from the seller's listing broker about the seller's motivation should:
- In Colorado, a 'subagent' in real estate is:
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