Colorado Springs Vintage Homes Blog
719.287.1049
Limited Service Listing
Can a Colorado Springs For Sale By Owner put their property in the MLS if they don’t have a Realtor?
Search for Colorado Springs Homes
Related Articles
- 9 reasons to use a buyer’s agent to help you find a house
- 6 things to add to your budget when buying a house
- 10 questions to ask the Neighbors
- How accurate are real estate listings on the Internet?
- Embracing Technology
Home owners who have decided not to use a Realtor to sell their Colorado Springs Home used to be able to pay a small fee to some Limited Service real estate companies and list their home on the Pikes Peak MLS. Due to some recent commission statements by the Colorado Springs Real Estate Commission, this is no longer an option.
The Colorado Real Estate Commission, periodically issues Commission Statements to clarify their positions on certain topics.
CP-36 is a Commission Statement on Minimum Service Requirements of a Realtor. My understanding is that the statement came as a result of complaints that had been received by the 
Real Estate Commission about the minimum services a Realtor must provide
The statements details the minimum requirements which are exactly the same as the requirements a Realtor uses in the Exclusive Right to Buy document and the Exclusive Right to List document. The statements goes onto to say “A broker is not allowed to solely perform “additional” services which require a real estate broker’s license, i.e. offering the real property of another for sale through advertisements, without providing the minimum duties required by single agency or transaction brokerage.
Essentially a home seller can ask a Realtor to “just list their property in the MLS’ and the homeowner will take care of everything else, including negotiating the contract and receiving the Earnest Money. If a Realtor does this, they are in direct violation of CP-36.
I’m not completely sure why this commission statement was instituted, but in my opinion every Colorado Realtor by terms of their license is held to minimum duties required to be performed by a real estate broker; and if the only thing a Realtor is doing for a seller is putting the home in the MLS, the Realtor is not performing the minimum duties required. Some of the duties required are:
- Presenting all offers to and from the seller or landlord in a timely manner regardless of whether the property is subject to a contract for sale or a lease or letter of intent to lease;
- Accounting in a timely manner for all money and property received
- Counseling the seller or landlord as to any material benefits or risks of a transaction which are actually known by the broker; Advising the seller or landlord to obtain expert advice
- Seeking a price and terms which are acceptable to the buyer or tenant; except that the broker shall not be obligated to seek other properties while the buyer is a party to a contract to purchase property or while the tenant is a party to a lease or letter of intent to lease;
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
To find out more information about buying a home or an investment property in Colorado Springs area, call ….
Kathy (719-287-1049) KTorline@msn.com
Who is Representing YOU?
The following information is the first in a series of Buyer Tips to provide tips for both the first-time homebuyer and 
the most experienced homebuyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area.
For a FREE Buyer’s Guide, Email KTorline@msn.com
Tip #1
Who’s working for you?
A Buyer’s Agent represents the buyer in a real estate transaction. The Colorado Springs real estate agent becomes the Buyer’s Agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. Under this agreement, the Buyer’s Agent owes his fiduciary responsibilities to the buyer. According to the Colorado Buyer’s agency agreement, a Buyer’s Agent has the following additional duties: Promoting the interests of Buyer with the utmost good faith, loyalty and fidelity, Seeking a price and terms that are acceptable to Buyer, and Counseling Buyer as to any material benefits or risks of a transaction that are actually known by Broker.
The State of Colorado has a form called Definitions of Working Relationships, which does 
Read the rest of this entry »
