Question

A broker acting as a transaction broker for a buyer, with no written agreement needs:


a. Nothing. This is the default representation in Colorado


b. To provide the buyer with a copy of the "Brokerage Disclosure to Buyer" with the broker’s signature showing the date it was given to the Buyer.


c. A signed Exclusive agreement in order to show the buyer property.


d. A signed disclosure form from the Buyer.

Answer 1

Answer:

The correct answer is letter "B": To provide the buyer with a copy of the "Brokerage Disclosure to Buyer" with the broker’s signature showing the date it was given to the Buyer.

Explanation:

A "Brokerage Disclosure to Buyer" is a document that explains the different brokerage relationships available in the state of Colorado for Real Estate purposes. Those options available are the seller's agent, the buyer's agent, and the transaction-broker. The document is useful for buyers to choose between one and another and to confirm what their role is in regards to the purchase of a property.