Colorado License LawIntermediateColorado Exam
Under Colorado license law, if a broker receives competing offers on the same property, the broker must:
APresent only the highest offer to the seller
BPresent all offers to the seller promptly unless directed otherwise by the sellerCorrect
CWait until the first offer's acceptance deadline before presenting subsequent offers
DRank the offers and present them in order of price
Why Present all offers to the seller promptly unless directed otherwise by the seller Is Correct
Answer B: Present all offers to the seller promptly unless directed otherwise by the seller
Colorado brokers have a duty to promptly present all written offers to the seller unless the seller has given written instructions to the contrary. Withholding offers is a serious violation of license law.
People Also Study
Related Colorado Questions
- In Colorado, a broker has a duty to 'promptly present all offers and counteroffers.' This means:Agency
- A Colorado buyer's agent's duty to promptly communicate all offers and relevant information to their client reflects:Agency
- Under Colorado brokerage relationship law, a transaction broker's duty to present all offers 'in a timely manner' means:Agency
- Under Colorado brokerage relationship law, which relationship presumes a transaction brokerage relationship unless a written agreement creates a different relationship?Agency
- A Colorado broker's office has a total annual commission income of $1,200,000. The employing broker receives 30% and the remaining 70% is split equally among 10 associate brokers. How much does each associate broker earn annually?Real Estate Math
- Under Colorado law, a landlord must provide a written notice to cure or quit before filing for eviction for a lease violation (other than nonpayment of rent). This notice period is typically:Property Management
- A Colorado broker who receives a complaint from a client about another broker in the same transaction should:Colorado License Law
- A Colorado seller receives two offers simultaneously. The seller must:Contracts
Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
State-Specific Concepts
License Law
Practice More Colorado Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →