This course will cover brokerage relationships in Colorado. State laws and Administrative Rules
governing brokerage relationships will be discussed in detail. Students will learn how a
brokerage relationship is legally established, the characteristics of an enforceable employment
agreement and what duties and disclosures are required in each relationship. This course will
also cover how and when it may become necessary to change agency status, as well as the
importance of following the brokerage relationship office policy. Finally, the course will address
the types of risks associated with real estate business and how to limit liability for licensees,
brokers and the public.
Upon completion of this course, students will be able to:
- Briefly explain how brokerage relationships came about.
- Identify types of brokerage relationships used in Colorado.
- Describe how a brokerage relationship is and isn't created in Colorado.
- Identify the difference between a disclosure and an employment agreement.
- Explain how to properly change status if necessary.
- Describe the importance of following a consistent office policy for brokerage relationships.
- Identify and explain proper brokerage relationship disclosures as required by Colorado law.
- Identify the brokerage duties required under Colorado law.
- Describe the minimum level of services required under Colorado law.
- Explain brokerage duties that survive the relationship.
- Describe the risks facing brokers each day relating to brokerage relationships and real estate transactions.
- Identify steps a broker can take to reduce risks in daily practice.
The course contains numerous multiple choice quizzes and exams, and is completed with a multiple choice exam.