Agency
A Colorado transaction broker is assisting both the buyer and seller in a transaction. The broker's primary obligation is to:
AAdvocate aggressively for whichever party pays the higher commission
BFacilitate the transaction while dealing honestly with both parties✓ Correct
CRepresent the seller exclusively since the seller pays the commission
DWithdraw from the transaction to avoid any conflict
Explanation
A transaction broker in Colorado is not an advocate for either party but serves as a facilitator who assists both parties with the transaction. The broker owes limited duties including honest dealing, reasonable care, and proper accounting to both parties.
Related Colorado Agency Questions
- In Colorado, a seller who wants to reserve the right to sell their home privately while listing with a broker should use which listing type?
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- A Colorado agent representing a buyer negotiates a price reduction from $500,000 to $470,000. The agent's competence is evaluated based on the 'reasonable care and skill' standard. This means the agent must:
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