A Colorado buyer agency agreement is a written contract between you and a brokerage. It sets how the broker works with you, how long the arrangement lasts, and how the broker gets paid. In most cases the form is the state’s Exclusive Right-to-Buy Listing Contract. If you want a broker to help you buy, expect to sign one: a 2026 Colorado law requires a written agreement before a broker does licensed work for you, and REALTORS who use an MLS ask for one before your first tour.
Key takeaways
- Colorado now requires a signed agreement for both agency and transaction-broker relationships.
- The agreement must state the broker’s pay as a clear amount or rate.
- Fees, length, and most terms are negotiable before you sign.
- A holdover clause can keep a fee alive after the term ends. Here’s how to read it.
What a buyer agency agreement is in Colorado
In Colorado, the standard buyer agreement is Form BC60, the Exclusive Right-to-Buy Listing Contract, adopted by the Colorado Real Estate Commission on October 7, 2025 and mandatory for use starting January 1, 2026. The form calls itself an “exclusive, irrevocable contract.”
Near the top, the form states in capital letters: “COMPENSATION CHARGED BY BROKERAGE FIRMS IS NOT SET BY LAW AND IS FULLY NEGOTIABLE.” It also tells you that buyer agency, seller agency, and transaction-brokerage relationships are all available.
According to the Colorado Division of Real Estate, the contract covers:
- The brokerage relationship (agency or transaction-broker)
- The listing period, or term
- How and when the broker’s pay is due
- A holdover period after the term ends
- Consumer disclosures on wire fraud, nondiscrimination, mediation, attorney fees, notice, and choice of law
The form also describes the kind of property you’re looking for (§3.4). Under §2.1 of the form and C.R.S. 12-10-408, at a multiple-person firm your brokerage relationship is with the specific broker the firm designates. It does not extend to every agent at that firm. That detail matters when a firm represents both sides, a topic covered in our explainer on dual agency and why it matters.
What changed on August 12, 2026
Colorado HB26-1426 took effect on August 12, 2026. It rewrote C.R.S. 12-10-403 to say that “a broker shall establish either a transaction-broker or a single-agency relationship through a written agreement between the broker and the party or parties to be represented by the broker.”
Before this law, a transaction-broker relationship in Colorado needed no written agreement. Only single agency did. Now both require a signed agreement before the broker performs licensed duties. The Division adds that the agreement “must specify and conspicuously disclose the amount or rate of any compensation to be paid to the broker.”
The compensation page alone does not count
Many buyers have signed the Buyer’s Broker’s Compensation Agreement at the end of the Brokerage Disclosure to Buyer. The Division says that page only states compensation. It does not set up a brokerage relationship, so it does not meet the new law’s requirement. A listing contract such as the Exclusive Right-to-Buy does.
How the state law fits with the 2024 NAR rule
A separate national rule also applies. Since August 17, 2024, under National Association of REALTORS practice changes, REALTORS and other MLS participants working with a buyer need a signed written agreement before the buyer tours a home, in person or virtually, according to NAR’s consumer guide. Visiting an open house on your own or asking an agent about their services does not require one.
The Division notes that licensed duties do not include showings, holding open houses, or completing comparative market analyses, and points brokers to the definition of a real estate broker in C.R.S. 12-10-201(6). That point is about what triggers the Colorado law. Because the NAR rule applies on its own terms, you should still expect a REALTOR to ask you to sign before your first private tour.
Buyer agency vs transaction-brokerage: which box gets checked
BC60 has two boxes at the top of page 1, Buyer Agency and Transaction-Brokerage, and §4 explains what each means. Under §4.3.2, if neither box is checked, the broker works with you as a transaction-broker.
Buyer agency adds duties under §6. Your broker owes you utmost good faith, loyalty, and fidelity. They must seek a price and terms you find acceptable and counsel you on known material benefits and risks. A transaction-broker works with you without acting as your agent. Our transaction broker guide covers that role in more depth.
Ask your broker which box they plan to check and why.
The compensation section, line by line
Section 7 of the form is where most of the money questions live.
Success Fee
A Success Fee can be a percentage of the purchase price or a flat dollar amount. The firm earns this fee when you buy, and it is payable at closing. If the deal falls apart because the seller defaults and you did nothing wrong, the fee is waived. If you default, the fee is not waived.
Hourly fee, retainer, and other
The form also allows an hourly fee with a maximum, a nonrefundable retainer fee (which may or may not be credited toward other fees), and an “Other” option.
Who pays the Success Fee
Section 7.3 gives two choices:
- 7.3.1: Your broker asks the seller or the seller’s brokerage to pay. You pay any unpaid portion, but only if your broker discloses the amount to you in writing before you sign a contract with the seller.
- 7.3.2: You pay the fee. The firm cannot take extra money from the seller or the seller’s brokerage unless you agree in writing.
If neither box is checked, 7.3.1 applies. Under NAR’s guidance, you can still ask that the seller pay your broker. If you are weighing how these choices interact with rebates, see our home buyer rebates guide.
Extra money from the seller side needs your written OK
Under either option, your broker’s firm cannot accept additional compensation, bonuses, or incentives from the seller side unless you approve them in writing.
What to check in the Exclusive Right-to-Buy Listing Contract
| Section | What it sets | What to ask before signing |
|---|---|---|
| Brokerage relationship boxes (page 1, §4) | Buyer agency or transaction-brokerage; transaction-broker if blank | Which box will you check, and what duties come with it? |
| Listing Period (§3.6) | Start and end dates you and the broker fill in | Can we shorten the term or tie it to a specific search? |
| Success Fee (§7.1) | Percentage or flat fee earned on purchase, paid at closing | What exact amount or rate are you proposing, and is it negotiable? |
| Hourly and retainer fees (§7) | Hourly rate with a cap; nonrefundable retainer | Will any retainer be credited toward the Success Fee? |
| Who pays the Success Fee (§7.3) | 7.3.1 broker asks the seller side to pay and you cover any unpaid part; 7.3.2 you pay | Which option fits my budget, and when will I learn what’s unpaid? |
| Holdover Period (§7.4) | Days after the term when the fee can still apply | How many days, and which box applies if I sign with another firm? |
| Default and cancellation (§12, §21) | Cancellation for failure to perform; mediation first | How do I end this if it isn’t working? |
Listing period, holdover, and getting out
Listing Period
Section 3.6 has a start date and an end date. You and the broker fill these in, so the term is something you can discuss.
Holdover Period
Section 7.4 sets a holdover period: a number of calendar days after the listing period ends. During holdover, the fee can still apply to a property your broker negotiated on and submitted to you in writing during the listing period.
A checkbox in this section decides whether you will or will not owe the fee if you sign a new exclusive agreement with another firm during holdover and that firm earns compensation. If no box is checked, the form says you don’t owe the fee in that case. Read this box closely.
Canceling the agreement
You have a few routes:
- Mutual agreement. NAR notes that you and your broker can mutually agree to change an agreement, and that agreements may set their own conditions for exiting. Under §27 of BC60, any change must be in writing and signed by both parties.
- Broker doesn’t perform. Under §12, if the broker fails to substantially perform, you can cancel with written notice that states the reason.
- You don’t perform. The firm can cancel if you fail to perform, including not reasonably cooperating.
- Disputes. Section 21 sends disputes to mediation first.
Ending a buyer agreement is separate from leaving a purchase contract. Once you are under contract on a home, other deadlines govern your earnest money and your inspection objection.
Questions to ask before you sign
Bring these to your first conversation with a broker. They also help when you compare agents.
- Which relationship box will you check?
- What Success Fee are you proposing, and will you accept a different amount?
- Do you charge hourly or retainer fees?
- Which payment option in §7.3 do you suggest, and why?
- What listing period and holdover length do you propose?
- Can we limit the agreement to a certain area or property type?
- How do we end the agreement if we’re not a good fit?
Frequently asked questions
Do I have to sign a buyer agency agreement to tour homes in Colorado?
If you are touring with a REALTOR who participates in an MLS, expect to sign one first under NAR’s 2024 rule. Visiting an open house on your own or asking an agent about their services does not require an agreement. Colorado law separately requires a signed agreement before a broker performs licensed duties for you.
Is the compensation form at the end of the Brokerage Disclosure to Buyer enough?
No. The Division of Real Estate says that page only states compensation and does not create a brokerage relationship. Under HB26-1426, a listing contract such as the Exclusive Right-to-Buy Listing Contract is required.
Can I negotiate the fee or length of the agreement?
Yes. The form states that compensation is not set by law and is fully negotiable. The listing period dates and holdover days are blanks you and the broker fill in together.
What happens if the seller won’t pay my agent?
That depends on the §7.3 box. Under 7.3.1, you pay any unpaid portion, but only if your broker disclosed the amount in writing before you contracted with the seller. Under 7.3.2, you pay the fee directly.
Can I cancel a Colorado buyer agency agreement?
You and the broker can agree in writing to change or end it, and the agreement may state its own exit conditions. If the broker fails to substantially perform, you may cancel by written notice explaining why. Disputes go to mediation first, and holdover terms may still apply after the agreement ends.
Before you sign
This article is general education and is not legal advice. If your situation is unusual, talk with a Colorado real estate attorney. If you’d like help reading your agreement, a Trelora agent is happy to walk through it with you.
David Speers is a seasoned Prop-tech and Real Estate Analyst dedicated to demystifying the complexities of the modern property market.