As used in this article 22.5, unless the context otherwise requires:
- “Agreement” means a written listing agreement, written compensation agreement, or other written agreement between a real estate broker and an owner that grants the real estate broker a right to compensation for professional services in connection with leasing or attempting to lease commercial real estate.
- “Commercial real estate” means any real property other than real property containing one to four residential units. “Commercial real estate” does not include single-family or multi-family residential units including condominiums, townhouses, or homes in a subdivision when such real estate is sold, leased, or otherwise conveyed on a unit-by-unit basis even though the units may be part of a larger building or parcel of real property containing more than four residential units.
- “Owner” means the owner of record of real estate and includes an agent of such owner.
- “Real estate broker” has the meaning set forth in section 12-10-201 (6).
- “Renewal commission” means an additional commission that may become payable to a real estate broker if a lease is later renewed or modified to expand the leased premises or extend the lease term.
Source: L. 2010: Entire article added, (HB 10-1288), ch. 179, p. 642, § 1, effective August 11. L. 2019: IP and (4) amended, (HB 19-1172), ch. 136, p. 1722, § 230, effective October 1.