Updated December 27, 2022
A Colorado buyer agency agreement defines the relationship between an agent and an individual who is in the market to purchase real estate. The agreement will be drafted after the agent agrees to work with a client to help them find a property to purchase. Agency agreements will generally last for a term of about four (4) to twelve (12) months, although the exact length will be based on the needs of the buyer. If the buyer purchases a property while the contract is valid, the agent will be entitled to receive payment.
Disclosures
Brokerage Disclosure to Buyer (§ 12-61-808(2)) – This agency disclosure, which informs clients of the real estate relationships in Colorado, must be reviewed and signed by the buyer.