Hi this is John Goodman in this webcast we are talking about the 2023 changes to the real estate commission approved contract there are five and a half big changes to the contract in this presentation I am NOT going to say everything there is to say about these five and a half changes I am just going to get them on the table for you at the time we are recording this in August of 2023 the exact language is still in play but I want to give you a chance to think about these new changes which I think are all conceptually good changes it's good for the buying and selling public it's good for the brokerage in just industry it's good so let me give you a little background first and the background is is that the division of real estate in 2023 committed to avoid making changes to the contract unless it was compelling for them to make a change and they honored that pledge for 2023 no changes they honor that pledge for 2023 no changes they honor that pledge for 2023 no changes let's give our regulators a round of applause for honoring those pledges but the world changes the markets change and so the contract is changing in these five and a half big ways for 2023 here we go with the list number one there is now going to be a concept where the brokers can prepare a personal property addendum to address personal property that goes along with the contract it's an opportunity to get the personal property items outside of the contract which seems to make it a little easier for lenders to approve the loan let's be clear it's not completely outside the contract because in order for the...
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Colorado real estate commission rules Form: What You Should Know
The commission approved forms and contracts must be used by the real estate broker when negotiating the purchase or sale of an existing building, and on the construction or renovation of an existing building. If the real estate broker is negotiating for a building to be used in an activity for which there is no approved form, the broker must use the alternative agreement form if available. F-4. Disclaimer of Interest — Use of Commission approved Form The broker is not required to disclose any material interest which may influence the broker's judgment in any transaction. If such an interest appears to exist and will be expressed only in a material part of the form, the broker is not required to disclose it and must use the alternative agreement form. If the broker cannot determine an element in the form before entering into an agreement, he may use the alternative agreement form. F-5. Disclaimer of Interest — Use of Alternative Agreement Form The broker is not required to disclose any material interest which may influence the broker's judgment in any transaction. If such an interest appears to exist and will be expressed only in a material part of the form, he is not required to disclose it and may use the alternative agreement form. If the broker cannot determine an element in the form before entering into an agreement, he may use the alternative agreement form. The alternative agreement form also provides additional protection to the broker if the transaction involves a non-disclosed person and is for a sale of a property. The broker shall use all the broker's discretion in reviewing the form for completeness and whether to use it. F-6. Exemptions — Use of Commission approved Form The Commission does not approve the use of any form where the seller will be able to influence the broker or the buyer or seller, by providing the broker with information not generally available to the public. The broker shall not rely upon his own experience and observations of the condition of the property if the seller or buyer does not provide such information. F-6. F-6. F-6. F. A. F. B. B. F. B. B. F. Section 4-1012.
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