Agency
Under Colorado law, a broker may change from a transaction broker to a seller's agent only if:
AThe buyer requests it in writing
BThe seller requests it and a written agreement is signed✓ Correct
CThe MLS rules require single agency for the listing
DThe transaction has already closed
Explanation
Changing from transaction broker status to single agency (seller's agent) requires a written agreement between the broker and the seller creating the agency relationship. The default in Colorado is transaction brokerage absent such an agreement.
Related Colorado Agency Questions
- A Colorado seller's agent has a duty of loyalty to the seller. Which of the following actions would violate this duty?
- A Colorado buyer signs a buyer agency agreement. The buyer's agent learns the seller is in financial distress and must sell quickly. Must the buyer's agent disclose this to the buyer?
- A Colorado broker who owes fiduciary duties to the seller should NOT:
- A Colorado broker who is related to the buyer in a transaction must disclose this relationship to:
- In Colorado, which of the following would terminate a listing agreement?
- The concept of 'ratification' in Colorado agency law occurs when:
- Under Colorado brokerage relationship law, which relationship presumes a transaction brokerage relationship unless a written agreement creates a different relationship?
- A Colorado seller's agent is approached by a buyer who wants to make an offer on the listing. If the broker cannot refer the buyer to another broker, the broker may:
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