Agency
Under Colorado brokerage relationship law, which relationship presumes a transaction brokerage relationship unless a written agreement creates a different relationship?
AAll relationships default to buyer's agency
BAll relationships default to seller's agency
CAll relationships default to transaction brokerage✓ Correct
DNo default relationship exists; brokers must always specify in writing
Explanation
Colorado statute presumes a transaction brokerage relationship exists unless a written agreement expressly creates a single-agency (seller's agency or buyer's agency) relationship.
Related Colorado Agency Questions
- Which of the following is NOT a duty owed by a Colorado transaction broker?
- In Colorado, a 'seller's agent' owes the buyer which of the following duties?
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- Under Colorado law, a 'designated buyer's agent' in a brokerage firm means:
- A Colorado buyer's agent who knows the seller is going through a divorce and is motivated to sell quickly should:
- A Colorado broker who represents a buyer in the purchase of a commercial property should advise the buyer to:
- When a Colorado broker represents the seller as a seller's agent, the broker owes the buyer:
- The concept of 'ratification' in Colorado agency law occurs when:
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