Agency
Under Colorado agency law, when does an agency relationship between a broker and a seller typically terminate?
AOnly when the broker chooses to end it
BUpon expiration of the listing agreement, completion of the transaction, mutual agreement, or other termination events✓ Correct
COnly after the property sells
DNever — agency relationships in Colorado are permanent once created
Explanation
A Colorado agency relationship terminates upon expiration of the listing agreement, completion of the transaction, mutual agreement, death or incapacity of either party, destruction of the property, or other events specified in the agreement.
Related Colorado Agency Questions
- In Colorado, a 'seller's agent' owes which of the following fiduciary duties to the seller?
- The duty of 'obedience' in a Colorado agency relationship means the broker must:
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- Under Colorado law, a 'designated buyer's agent' in a brokerage firm means:
- 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:
- In Colorado, a broker who represents both landlord and tenant in a lease transaction acts most appropriately as:
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- A Colorado buyer's agent has written authorization from the buyer to sign documents on the buyer's behalf. This authority is granted through:
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