12-61-203.5. Referral fees – interference with brokerage relationship No licensee under parts 1-4 of this article shall pay a referral fee unless reasonable cause for payment of the referral fee exists. A reasonable cause for payment means: An actual introduction of business has been made; A contractual referral fee relationships exists; or A contractual … Continue Reading
Question: I would like to buy a property I have listed for a seller/client for my own use, or for future resale. I do not want to buy the property to facilitate the seller’s purchase of another property. I want to own the property and do not wish to continue to market it after … Continue Reading
Question: I am the listing broker for a builder who put a property under contract with Buyer #1. Buyer #1 attempted to back out of the contract, claiming that his loan was not approved. My builder wants to keep Buyer #1’s earnest money and Buyer #1 objects. The builder would like to resell the property … Continue Reading
Question: I am opening my own real estate company. Initially, I will be the sole broker, but over the next few months, I expect to take on associates under my license. Do I need an agency policy? Do I need an office policy manual? What other documents might I need? Answer: Agency Policy Every … Continue Reading
Co-Author: Richard Byron Peddie, Esq. The Colorado Real Estate Commission has revised the Exclusive Right to Lease listing agreement (ERL). There are four new engagement forms for leasing. New Rule (E-40) regulates the preparation of market analyses by brokers. The Commission has also altered the Licensee Buy-Out Agreement, utilizing an addendum which can be attached to … Continue Reading
Co-Author: Oliver E. Frascona, Esq. I have a lease listing. A potential tenant initially contacted me through another broker. Now the potential tenant wants to work with me directly. How can I avoid a procuring cause dispute with the broker who initially brought me the tenant? Some brokers invest substantial time with owners, buyers, and … Continue Reading
What are some of the important considerations for the REALTOR® who is contemplating a procuring cause dispute? REALTORS® contemplating procuring cause disputes should be aware that the points to consider tend to divide themselves into procedural and substantive matters. PROCEDURAL CONSIDERATIONS A REALTOR®’s right to arbitrate arises out of Article 17 of the Code of … Continue Reading
Representing a seller who is experiencing marital difficulties poses special concerns for real estate professionals. It is common for divorcing couples or couples who are about to be divorced to have differing interests in connection with the sale or other disposition of real estate. As agent or broker, you should be sensitive to those differing … Continue Reading
