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Regulations of Connecticut State Agencies (Last Updated: June 14,2023) |
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Title20 Professional and Occupational Licensing, Certification |
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SubTitle20-325d-1_20-325d-7. Real Estate Brokers and Salesmen |
| Sec. 20-325d-1. Definitions |
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For the purposes of Sections 20-325d-1 through 20-325d-7, inclusive, of these regulations, the following terms shall have the meanings indicated: (a) "Broker" or "Real estate broker" means "real estate broker" as this term is defined by Connecticut General Statutes Section 20-311(1), as amended; (b) "Salesman" or "Real estate salesman” means "real estate salesman" as this term is defined by Connecticut General Statutes Section 20-311(2), as amended; (c) "Seller's Agent" or "Agent of the seller" means a real estate broker or real estate salesman who acts in a fiduciary capacity for the prospective seller or prospective lessor in a real estate transaction; (d) "Buyer's agent" or "Agent of the buyer" means a real estate broker or real estate salesman who acts in a fiduciary capacity for the prospective buyer or prospective lessee in a real estate transaction; (e) "Dual agent" means a real estate broker or real estate salesman who acts in a fiduciary capacity for both the prospective seller or prospective lessor and the prospective buyer or prospective lessee in a real estate transaction; and (f) "Licensee" means real estate broker and/or real estate salesman. |
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(Effective February 22, 1991; Amended September 28, 1995) |
| Sec. 20-325d-2. Agency disclosure |
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(a) A real estate broker or real estate salesman, when acting as a seller’s agent, shall make a written disclosure of whom the brokerage firm and its agents represent to prospective buyers or lessees, unless such prospective buyer or lessee is represented by another real estate broker. A real estate broker or real estate salesperson, when acting as a buyer’s agent, shall make a written disclosure of whom the brokerage firm and its agents represent to prospective sellers or lessors, unless such prospective seller or lessor is represented by another real estate broker. The disclosure shall be in one of the following forms:  >  >  >  >  > (b) (i) A real estate broker or real estate salesperson, when acting as a dual agent, shall make a written disclosure of dual agency to all parties by using the dual agency consent agreement, Connecticut General Statutes section 20-325g, or the dual agency designated agency disclosure notice and consent agreement as set forth in the Connecticut regulations concerning designated agency. (ii) Real estate brokers who represent both buyers and sellers shall disclose the potential for a dual agency situation in their listing agreements and buyer agency agreements. |
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(Effective February 22, 1991; Amended September 28, 1995; Amended June 5, 2002) |
| Sec. 20-325d-3—20-325d-4. [Repealed] |
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Repealed September 25, 1995. |
| Sec. 20-325d-5. Time of disclosure |
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(a) Any licensee acting as a seller's agent or intending to act as a seller's agent shall give the disclosure required by Section 20-325d-2 of these regulations to the prospective buyer or lessee at the beginning of the first personal meeting concerning the prospective buyer's or lessee's specific real estate needs. The disclosure shall be signed by the prospective buyer or lessee and the broker or salesman, and shall be attached to any offer, binder, option, agreement to purchase or lease. If the prospective buyer or lessee refuses to sign the disclosure, the seller's agent shall note this refusal on the line indicated for the prospective buyer' s or lessee' s signature. (b) Any licensee acting as a buyer's agent or intending to act as a buyer's agent shall give the disclosure required by Section 20-325d-2 of these regulations to the seller or lessor or to the seller' s or lessor's agent at the beginning of the first personal meeting with the seller or lessor or the seller's or lessor's agent concerning the seller's or lessor's real property. The disclosure shall be signed by the seller or lessor, or the seller's or lessor's agent, and the prospective buyer's agent, and shall be attached to any offer, binder, option, agreement to purchase or lease. If the seller, lessor or seller's or lessor's agent refuses to sign the disclosure, the prospective buyer's agent shall note this refusal on the line indicated for the seller's, lessor's or seller's or lessor's agent's signature. |
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(Effective February 22, 1991; Amended September 28, 1995; Amended June 5, 2002) |
| Sec. 20-325d-6. Disclosure by cooperating licensees |
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(a) The notices required by Connecticut General Statutes Section 20-325d need only be given once to each prospective seller, lessor, buyer or lessee by a real estate licensee. (b) Any licensee acting as a cooperating licensee shall be responsible for providing the notice required by Connecticut General Statutes Section 20-325d, unless no cooperating licensee is involved, in which case the seller's or buyer's agent or the dual agent shall be responsible for providing the notice. |
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(Effective February 22, 1991; Amended September 28, 1995) |
| Sec. 20-325d-7. Open houses, auctions |
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(a) The disclosure to prospective buyers or lessees required by Connecticut General Statutes Section 20-325d need not be given to individuals who attend an open house, provided that: (1) the licensee, by sign, poster, pamphlet or other similar means, conspicuously discloses the licensee's agency relationship; and (2) no personal meeting concerning the prospective buyer's or lessee's specific real estate needs is held. If such a meeting is held, the written disclosure shall be given at the beginning of the meeting. (b) The disclosure to prospective buyers or lessees required by Connecticut General Statutes Section 20-325d need not be given to individuals who attend a real estate auction, provided that: (1) the licensee, by sign, poster, pamphlet or other similar means, conspicuously discloses the licensee's agency relationship; and (2) the licensee provides the disclosure to the successful bidder prior to the time a written offer to purchase is executed. |
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(Effective February 22, 1991; Amended September 28, 1995) |