Class Details

2024 Mid-Year Changes to Colorado Real Estate Contracts

2024 Mid-Year Changes to Colorado Real Estate Contracts: Key Updates & Legal Implications

This class covers the latest mid-year changes to Colorado Real Estate Commission (CREC) forms, primarily driven by antitrust settlements affecting commission structures. We will explore how these adjustments impact buyer and seller-side negotiations, MLS practices, and broker compensation agreements. Key topics include:

Antitrust Motivated Changes:

– Elimination of buyer commission negotiation barriers.

– MLS restrictions on sharing buyer-agent compensation.

– New requirements for written buyer agreements before property tours.

Contractual Form Updates:

– Detailed examination of new Section 29 for brokerage compensation in standard contracts.

– Changes in buyer obligations regarding commission payment when seller’s contributions fall short.

Broker Compensation Agreements:

– Introduction of new forms to align with the antitrust settlement.

– Guidelines for use, timing, and completion of these agreements.

Additional Non-Antitrust Driven Updates:

– Contract revisions related to home warranties, lease assumptions, water rights, and solar power plan contingencies.

The course is essential for real estate professionals to stay compliant with evolving regulations and to better serve clients in a shifting commission landscape.