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Date: August 6, 2024

This real estate broker advisory has important ramifications for all active real estate broker licensees.

ÀÖ¾ºÌåÓýÈ«Õ¾ Colorado Real Estate Commission (CREC) has held two essential meetings in recent weeks. ÀÖ¾ºÌåÓýÈ«Õ¾ first meeting was held on June 25. ÀÖ¾ºÌåÓýÈ«Õ¾ second meeting was held earlier today, August 6, 2024. At these non-rulemaking hearings, CREC approved a series of updated contracts and forms for use in your real estate business. 
 

ÀÖ¾ºÌåÓýÈ«Õ¾ updated contracts and forms are as follows:

• Exclusive Right-to-Sell Listing Contract
• Exclusive Right-to-Buy Listing Contract
• Contract to Buy and Sell Real Estate (Residential)
• Contract to Buy and Sell Real Estate (Residential) (Colorado Foreclosure Protection Act)
• Contract to Buy and Sell Real Estate (Income-Residential)
• Contract to Buy and Sell Real Estate (Commercial)
• Contract to Buy and Sell Real Estate (Land)
• Brokerage Disclosure To Buyer-Definitions of Working Relationships
• Agreement to Amend/Extend Contract
• Counterproposal
• Residential Addendum to Contract to Buy & Sell Real Estate
   

In many previous years, CREC has approved forms for use with an effective date of January 1 of the following year. Unlike those years, these updated contracts and forms are effective for use on August 15, 2024. 

ÀÖ¾ºÌåÓýÈ«Õ¾ Division’s Contracts and Forms webpage will be updated on August 15, 2024. ÀÖ¾ºÌåÓýÈ«Õ¾re, you will be able to download fillable .pdf formats of these documents and use them in your practice starting on that day, Thursday, August 15, 2024. Many licensees also use third-party services for Colorado contracts and forms. ÀÖ¾ºÌåÓýÈ«Õ¾ Division has coordinated with these third-party services to ensure that each can incorporate these updated forms into their systems for use on and after August 15, 2024, as well.

ÀÖ¾ºÌåÓýÈ«Õ¾se forms replace existing forms and any previous versions of the documents identified above should not be used after August 14, 2024. To aid you and ensure that you are using the correct form, all CREC-approved forms have a header at the beginning of the document that identifies that the form has been approved by CREC. 

ÀÖ¾ºÌåÓýÈ«Õ¾ header also contains an abbreviated name for each specific document, and most importantly, the date when the document is effective for use.  Each of the contracts and forms identified above will reflect â€�(Mandatory 8-24)â€� as shown in the figure above.