CONTRACTS & REGULATIONS SECTION 7: COLORADO LISTING CONTRACTS QUESTIONS AND ANSWERS. VERIFIED.| latest update 2024/25|

CONTRACTS & REGULATIONS SECTION 7: COLORADO LISTING CONTRACTS QUESTIONS AND ANSWERS. VERIFIED. a Brokerage firm and a seller A listing contract is the employment contract between who and who? No unless the employing broker gives you permission If you leave one brokerage & join another, are you allowed to take your active listings with you? acting only as a transaction-broker Colorado listing contract may be oral if the broker is ___________________________________ Otherwise it must be in writing definite termination date. (open-ended listing contracts aren't allowed) All listing contracts must have a ____________________________. listing contract What is a binding written contract entered into by the seller of a property and the seller's listing agent (on the broker's behalf)? Exclusive agency The listing agreement where the homeowner can find a buyer and not have to pay commission to the listing agent... exclusive right to sell is the listing contract that provides the highest service to the seller and the most protection for the broker's commission regardless of who finds the buyer Open (non-exclusive) listing agreement Unilateral agreements in which a seller may contract with multiple RE agents to locate a buyer - whoever brings the buyer, earns the commission. (homeowner can find buyer also) addendums Exclusive agency and open agency contracts are made through what on exclusive right-to-list or lease contracts? Yes, but discouraged due to potential abuse Are net listings allowed in Colorado? net listing Which type of listing is when a seller specifies a desired price for the property and agrees the broker's commission will be any amount above that price? Yes Can net listings can be written for exclusive right-to-sell, exclusive agency, or open listings? Exclusive Right-to-Sell Listing Contract All listings should use the ____________ contract. If the seller desires an exclusive or open agency, they should use the commission-approved addendums. Exclusive Brokerage Listing Addendum Which addendum do you use if it's an exclusive agency listing? Open listing addendum Which addendum do you use if it's an open listing? Exclusive Right-to-Lease What form gives the broker the exclusive right to find a tenant and make commission on a leased property? Property information The brokerage relationship Broker's duties Seller's/landlord's obligations Price information Compensation to broke