Updated December 28, 2022
A Colorado real estate agent listing agreement is a contract between a property owner and an agent that authorizes the agent to sell the individual’s property and otherwise manage the real estate transaction. The contract will identify two (2) dates; the initial agreement date and the date when the agent’s right to the sale expires. During the agreement period, the agent will be obligated to find a suitable buyer who can satisfy the seller’s terms and purchase the property for the desired sales price. The contract will also relay the agent’s compensation which will either be offered in the form of a percentage or as a fixed rate unless both parties agree to an alternative payment arrangement.
Brokerage Disclosure to Seller (§ 12-61-808(2)) – The seller must review and sign this Brokerage Disclosure to Seller. Agents representing the buyer should instead use the Brokerage Disclosure to Buyer.
Dual Agency (§ 12-61-806) – Dual agency is illegal in Colorado although a transaction agent is allowed (§ 12-61-807) which would permit the agent to act as a neutral party and be able to facilitate the transaction on their own. Written consent through the Agency Disclosure Form is required.
Seller’s Property Disclosure (§ 38-35.7) – A seller must complete this form and provide it to a buyer before signing a purchase agreement.
Search a Licensee – Verify an agent’s license by performing a search on the Division of Real Estate website.