Buying

A buyer forfeits representation entirely and works directly with the seller or listing agent as a "customer." The listing agent will work solely on behalf of the seller to promote the seller's interests and negotiate on behalf of and advocate for the seller. Because the buyer is completely unrepresented in this case, it isn't recommended unless they have extensive experience buying and selling in the Telluride area, a strong understanding of Colorado real estate contracts and forms, and trusted relationships with all necessary vendors who facilitate a transaction. Choosing a "customer" relationship does not necessarily mean the buyer will realize any savings by waiving buyer agency compensation.

This is most common when a buyer approaches a listing agent directly. Because an agent cannot legally or ethically represent a buyer and a seller in the same transaction, they revert to a "Transaction-Broker" and act as a neutral party to the transaction. A transaction-broker performs the terms of any agreement, fully informs all parties, presents all offers, and assists the parties with any contracts without being an agent or advocate for any of the parties. In the simplest terms, the broker acts as a referee for the transaction instead of a coach for either the buyer or seller. Like a buyer acting as a customer, choosing a transaction-broker relationship does not necessarily mean brokerage fees will be reduced or eliminated.

A buyer's agent works solely on behalf of the buyer to promote the buyer's interests with the utmost good faith, loyalty, and fidelity. This is the gold standard of buyer's representation. As a buyer's agent, a broker can negotiate on behalf of and advocate for the buyer.