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In Colorado there are several different types of relationships that a Buyer or Seller may have with a real estate agent. We are required by the Colorado Real Estate Commission to explain each of them to you and to keep on file evidence that we have done so. Therefore, when we first meet, we will present you with the form "Definitions of Real Estate Brokerage Relationships" and our office policy "How We Work With Buyers And Sellers." Additionally, we will ask you to sign an acknowledgement for our file, evidencing that we have done so.

Colorado has been on the leading edge in promulgating new laws that have changed the way we do business. If it has been more than five years since you bought you last home, chances are the agent you used was not your agent at all, but a Sub Agent of the Seller! In the absence of a written Buyer Agency Agreement between the Agent and the Buyer, the old laws actually assumed the agent to be working for the Seller and required the agent to represent the Seller's best interests. In other words, that agent was required by law to get the best possible price and terms for the Seller and to share with the Seller all the information known about you, the Buyer, even though you may have thought you were sharing it in confidence! It's no wonder this form of relationship is all but dead in most areas of the country.

Colorado was one of the first of the states to address this issue. About five years ago, Colorado passed a law that said in essence, in the absence of a written Buyer Agency agreement, the agent showing you homes is presumed to be a transaction Broker. (In some states this form of relationship is called a Facilitator.) Simply put, a transaction Broker does not represent either the Buyer or the Seller, nor is he an advocate of either. His sole responsibility is to the deal itself, to help the Buyer and Seller reach agreement and close the transaction.

Most Buyers, however, expect the agent showing them homes to advise them regarding values, research and verify information, and negotiate aggressively on their behalf, acting as their advocate throughout the entire transaction. These are activities performed by an agent and, in Colorado, this level of service requires a written Buyer Agency Agreement. When the agent performs any of these services under a transaction Broker relationship, he risks the possibility of accidental undisclosed agency. Although the case law is not well defined yet, undisclosed agency can expose our customers and clients to law suits and the potential risk that a transaction can be rescinded or canceled. We don't want you to have to go to court to find out what the rules are for this new type of relationship.

We prefer to work as Buyer Agents. Quite frankly, during the process of searching for and buying a home, we will get to know you quite well. We will talk about family, work, finances, recreation and motivations as we meet at the office, drive in our car and break bread together. Often, lasting friendships develop from this relationship. When it comes time to select a home and make an offer, it is only natural that we would offer you our advice and counsel and negotiate on your behalf when presenting the offer. You would expect nothing less.

Buyer Agency is a two way street, however. We commit to perform all these services on your behalf and you commit to work exclusively with us and make sure we get paid. That does not mean you have to pay us. It is still OK for a Seller or a Builder to pay the Buyer' Agent the commission and, in 99 out of 100 transactions, the Seller commits to make this payment in his offer to sell. Also, we, in the Buyer Agency Agreement, commit to use our best efforts to make sure the Seller or other third party pays our commission. As in all agency relationships, the principal (the Buyer in this case) is legally responsible for the actions of the agent when that agent is acting within the scope of the agency agreement.

Buyer Agency puts the relationship between a Buyer and the real estate agent on a new and higher level than ever before. By law an agency relationship requires of the agent: loyalty, obedience, disclosure of all material facts, confidentiality, accountability and reasonable skill and care. An agent must always put the best interests of his client above his own! We, Bob & Lindsay, take our responsibilities very seriously. Since both the law and the skills required of a Buyer Agent are fairly new and not well practiced, we have gone back to school to learn how to do it right. Our accomplishments are highlighted by the ABR designations (Accredited Buyer Representative) we have both earned.

Many people who have not bought a home in several years find the idea of signing a written agreement with a real estate agent somewhat unsettling. After all, you never were asked to do it in the past so why now? Realistically, however, there are likely only two reasons to be apprehensive about Buyer Agency: payment of our fee (which we have already addressed) and trust, both in the agent's ethics and his ability to service you effectively. A common concern is that you might miss an opportunity when working exclusively with one agent. (With our new, computerized technology, we will show you why this should not be a concern when working with us!)

During our Buyer Orientation we will discuss each of these and other concerns you might have. We may even show you homes the first time out as a transaction Broker, allowing us to get to know one another better before entering into a written agreement. Finally, we never want someone to be tied to an agreement against his will. We include a clause in our Buyer Agency Agreement that allows either party to cancel the agreement if unsatisfied in any way! We want you to be comfortable right from the very start!

We are Bob & Lindsay Leaman, The Dependable Duo in Real Estate! We look forward to serving your relocation needs as your Buyer Agent. Welcome to Colorado!

Welcome | Buyer Agency | Community Profiles | Things You Need to Know