Stortroen v. Beneficial Financial Co. of Colorado
Colorado Supreme Court
736 P.2d 391 (1987)
The Stortroens (plaintiffs) hired a broker-associate to sell their home and find a new one; the broker-associate found a home in the multiple listing service (MLS) and placed a contingent offer, which the seller countered. The Stortroens accepted the counteroffer in writing and dropped their contingency, but before that acceptance reached the seller's listing agent, the seller had already received a better offer, called to withdraw the counteroffer, and accepted the higher bid. The Stortroens sued the seller for specific performance; the trial court granted the seller summary judgment.
Whether a real estate broker or salesperson acts as a subagent of the seller when assisting potential buyers in the purchase of property listed in the multiple listing service.