Connecticut Real Estate Unit 10 Real Estate License Law Questions and Answers

A person of entity engaging in the real estate business in CT must have CT Real Estate License 2 Categories of License: Broker and Salesperson (Both are Licensees) A salesperson must be affiliated with and can only work on behalf of a broker Connecticut Real Estate Commission Enforces CT licensing laws Main responsibilites: (1) Issue Licenses (2) Arbitrate disputes between brokers and salespersons (3) Investigate and prosecute complaints against licensees (4) Formulate and enforce rues and regulations regarding licensing and conduct of licensees Structure of Real Estate Commission: (1) 8 Members -- Five of Real Estate Business (3 Brokers and 2 Licensed Salespersons) 3 Member of the Public (2) At least one member from each congressional district (3) Not more than a bare majority from the same political party Members of Commission: (1) Must be electors in state (2) Are appointed by the governor (3) Take an oath to perform faithfully the prescribed duties (4) May be removed from office for cause by the governor after being given an opportunity to be heard Commission Members select a chairperson: When voting on issues a majority of members constitutes a quorum Seats vacated through resignation, death, or removal are filled by appointees of the governor Commission members are not paid for their services but are reimbursed for necessary expenses incurred in the performance of their duties Real Estate Guaranty Fund $20 Fee assessed on new real estate licensees to fund Real Estate Guaranty Fund Continuing Education Classes required for license renewal