Agency
In Colorado, a broker who is a 'transaction broker' for a buyer is NOT required to:
AA. Disclose material facts affecting the value or desirability of the property
BB. Account for funds and property received
CC. Use reasonable skill and care
DD. Act with undivided loyalty to the buyer✓ Correct
Explanation
A transaction broker in Colorado does NOT owe the buyer undivided loyalty (that is a fiduciary duty). A transaction broker owes limited statutory duties: honesty, reasonable skill and care, proper accounting, disclosure of material facts affecting value, advising the party to seek expert advice on matters outside the broker's expertise, and timely presentation of offers.
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