Sellers Agent: A sellers agent works solely on behalf of the seller and owes duties to the seller which include the utmost good faith, loyalty and fidelity. The agent will negotiate on behalf of and act as an advocate for the seller. The agent must disclose to potential buyers or tenants all adverse material facts about the property actually known by the broker. A separate written listing agreement (contract) is required which sets forth the duties and obligations of the parties.
Buyers Agent: A buyers agent works solely on behalf of the buyer and owes duties to the buyer which include the utmost good faith, loyalty and fidelity. The agent will negotiate on behalf of and act as an advocate for the buyer. The agent must disclose to potential sellers all adverse material facts concerning the buyers financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property.
A separate written buyer agency agreement (contract) is required which sets forth the duties and obligations of the parties. Transaction Broker: A transaction broker assists the buyer or seller or both throughout a real estate transaction with advice, communication, negotiation, contracting and closing without being an agent or advocate for any of the parties. A transaction broker does owe the parties a number of statutory obligations and responsibilities, including using reasonable skill and care in the performance of any oral or written agreement. A Transaction broker must also make the same disclosures as agents about adverse material facts concerning a property or a buyers financial ability to perform the terms of a transaction and whether the buyer intends to occupy the property. No written agreement is required. (This is not an Agency Relationship)
Chuck Daily
Owner/Broker
Resort Brokers Real Estate
100 S. Main St. Box 71
Breckenridge, CO 80424
PH: 800 441 6954
FAX: 970 453 6151
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