Questions and Answers 100% Pass
Broker - ✔✔A person who performs real estate activities for a real estate consumer.
In CT only a broker can enter into an agency relationship with a client. Agency runs
from broker to client. All salespersons working for the broker are automatically
agents of the brokers clients and owe clients fiduciary duties.
Fiduciary responsibility - ✔✔Care, Obedience, Loyalty, disclosure, accounting and
confidentiality (COLDAC)
Fiduciary r and customers - ✔✔Fidicuary duties are not owed to a customer. You do
own them honesty though.
Continuing Education - ✔✔Every 2 years, by may 31st for salespersons and march 21
for brokers - 12 hours of real estste education.
Offers - ✔✔In CT you must present all offers received without altering or omitting
pertinent details that may influence anyone, and ensure that everything is
documented and written up.
Cooperation - ✔✔don't be difficult.
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, What is required by law if a broker wishes to collect payment for services provided -
✔✔Written Agency Agreement
Does Ct law permit a broker to represent two clients involved in the same
transaction? - ✔✔yes. Dual Agency is allowed ONLY if both clients give written
informed consent. All sales persons working for the broker are then also dual agents .
BUT the broker can make them designated agents and the salespeople lose their dual
agency( with the written consent of the buyer and seller).
What procedure is followed with unrepresented customers - ✔✔Broker must disclose
to the unrepresented customer that the broker/salesperson does not represent the
customer but rather represents whoever the b0orker's client is. Use the Real Estate
Disclosure Notice Given to Unrepresented Persons.
Diligent Effort - ✔✔Working hard to make sure you do the job, and keeping the
client always updated on what's going on.
Electronic Communication must include... - ✔✔-the licensee's name and office
address
-the name of the real estate broker the licensee is affiliated with
-all states where the licensee is licensed
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