Colorado Real Estate Commission v. Vizzi

488 P.3d 470 (2019)

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Colorado Real Estate Commission v. Vizzi

Colorado Court of Appeals
488 P.3d 470 (2019)

Facts

John Vizzi (defendant), a licensed real estate broker, contracted with clients to perform unbundled services—that is, limited services like listing property for sale, as opposed to assisting with the entirety of the transaction. Vizzi was subject to an anonymous complaint and charged by the Colorado Real Estate Commission (the commission) (plaintiff) with failing to fulfill his duties under the state law governing real estate brokers. The law classified brokers as either single agents (representing one party in a transaction) or transaction brokers (the default classification for all other licensed brokers). The law also included an articulation of policy goals as well as a procedure for investigation of alleged violations. An administrative-law judge held that Vizzi, as a transaction broker, was required to perform various duties—including advisement and negotiation, among others—throughout a real estate transaction. The commission adopted these findings in a final agency order. Vizzi appealed, arguing that the stated duties were not mandatory. Vizzi also argued that the commission’s policy violated federal antitrust law because three out of five commission members were real estate brokers, thus constituting illegal domination by market participants.

Rule of Law

Issue

Holding and Reasoning (Terry, J.)

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