CONNECTICUT UNIT 10 REAL ESTATE
LICENSE LAW QUESTIONS AND
ANSWERS
A saleswoman regularly communicates with all of her clients and potential clients via
email. The licensing law requires that her email contain all of the following EXCEPT -
ANSWER-All electronic communication, including email and bulletin board postings,
must contain the licensee's name and office address, the name of the real estate
broker with whom the licensee is affiliated, and all states where the licensee is
licensed, unless a buyer, in the process of making an offer, requests such
information in accordance with CGS 20-320cc-20-329gg.
Ben Broker maintains a website that highlights all of the property listings that he has.
Ben knows that the licensing law requires that he include certain information on this
website, including the - ANSWER-Internet advertising, which includes websites,
must include, on every page of the site, the licensee's name and office address, the
name of the real estate broker with whom the licensee is affiliated, all states where
the licensee is licensed, and the last date when the site property information has
been updated.
Ben Broker wishes to include information about other property listed with another
broker on his website. To do so, Ben must - ANSWER-To advertise the property of
another broker on a website or elsewhere, Ben must get the permission of the other
broker. Also, the listing information cannot be changed in any way without the
permission of the other broker, and Ben must update the other broker's property
information every 72 hours.
Ben Broker has entered into an agency agreement with Sallie Seller. Such an
agency agreement imposes a duty on Ben to - ANSWER-The licensing law requires
that a broker who enters into an agency agreement with a seller make a diligent
effort to sell the property listed.
26. Ben Broker has entered into an agency agreement with Sallie Seller and has
been marketing her property. Several potential buyers are interested in the property,
and he has appointments to show the property throughout the next week. The first
buyer he shows the property to makes an immediate offer. Ben does not tell Sallie
about the offer right away, thinking that additional offers may come in over the next
few days, and he will present them all to her at the end of the week. Ben has -
ANSWER-A licensee who receives an offer on behalf of a client must submit the
offer to the client as quickly as possible. In making a decision to hold offers without
being instructed to do so by Sallie, Ben has violated the licensing law.
Ben Broker has entered into an agency agreement to sell Sallie Seller's property. A
salesperson affiliated with another broker introduces a buyer to the property, and
that buyer actually purchases it. Ben would like to share some of his commission
earned from Sallie with the salesperson. Can he do so? - ANSWER-In a transaction
where there are two brokerage firms involved, all compensation must be paid to the
, real estate broker of the cooperating agency; it cannot be paid directly to another
broker's salesperson.
Ben Broker has entered into an agency agreement to sell Sallie Seller's property.
Sallie meets Betty, another broker, at a church event. Betty tells Sallie that she could
do a much better job advertising Sallie's property and suggests that Sallie terminate
her agreement with Ben and enter in a listing agreement with her. Betty's action
amounts to - ANSWER-Connecticut law prohibits a licensee from interfering with the
agency relationship of another licensee, and that includes advising a client of
another licensee to break her agency agreement.
Who may receive compensation from the Real Estate Guaranty Fund? - ANSWER-A
person may recover compensation from the Guaranty Fund if they are aggrieved by
the following actions of a licensed real estate broker, salesperson, or unlicensed
employee of a broker: the embezzlement of money or property; obtaining money or
property from persons by false pretenses, trickery, or forgery; or fraud,
misrepresentation, or deceit by or on the part of the licensed broker, salesperson, or
unlicensed employee of the broker. The person must first sue the licensee in court
and obtain a money judgment; if the licensee does not pay the money judgment, the
person can seek funds from the Fund.
The maximum compensation that will be paid from the Real Estate Guaranty Fund
for any single transaction is - ANSWER-The licensing law sets the maximum
compensation to be paid in connection with any single claim or transaction at
$25,000
All listings in Connecticut must include all of the following EXCEPT - ANSWER-An
agency agreement must contain all terms and conditions including compensation to
be paid, beginning and expiration dates, type of agency agreement, and signatures
and addresses of all parties concerned.
To change broker affiliation, a salesperson must - ANSWER-A salesperson can
change broker affiliation by registering the change with the Commission and paying
a $25 transfer fee
Kathleen accompanies a young couple during an open house on a property listed
with her agency. The couple is so impressed with the house and Kathleen's
response to their questions that they decide to make an offer. Before the offer is
presented to the principal, they ask Kathleen's personal opinion as to whether they
should require that the seller give them a warranty deed or a quitclaim deed at the
closing. Kathleen should - ANSWER-A real estate licensee cannot offer legal advice
or counsel, unless the licensee is also an attorney.
If a broker tells a lender that the sales price on a property is something above its
actual sales price, the - ANSWER-The licensing laws require that licensees
accurately represent the sales price of a property. A broker telling a lender that the
sales price of a property is more than it actually is has violated the licensing laws
(and possibly also committed bank fraud).
LICENSE LAW QUESTIONS AND
ANSWERS
A saleswoman regularly communicates with all of her clients and potential clients via
email. The licensing law requires that her email contain all of the following EXCEPT -
ANSWER-All electronic communication, including email and bulletin board postings,
must contain the licensee's name and office address, the name of the real estate
broker with whom the licensee is affiliated, and all states where the licensee is
licensed, unless a buyer, in the process of making an offer, requests such
information in accordance with CGS 20-320cc-20-329gg.
Ben Broker maintains a website that highlights all of the property listings that he has.
Ben knows that the licensing law requires that he include certain information on this
website, including the - ANSWER-Internet advertising, which includes websites,
must include, on every page of the site, the licensee's name and office address, the
name of the real estate broker with whom the licensee is affiliated, all states where
the licensee is licensed, and the last date when the site property information has
been updated.
Ben Broker wishes to include information about other property listed with another
broker on his website. To do so, Ben must - ANSWER-To advertise the property of
another broker on a website or elsewhere, Ben must get the permission of the other
broker. Also, the listing information cannot be changed in any way without the
permission of the other broker, and Ben must update the other broker's property
information every 72 hours.
Ben Broker has entered into an agency agreement with Sallie Seller. Such an
agency agreement imposes a duty on Ben to - ANSWER-The licensing law requires
that a broker who enters into an agency agreement with a seller make a diligent
effort to sell the property listed.
26. Ben Broker has entered into an agency agreement with Sallie Seller and has
been marketing her property. Several potential buyers are interested in the property,
and he has appointments to show the property throughout the next week. The first
buyer he shows the property to makes an immediate offer. Ben does not tell Sallie
about the offer right away, thinking that additional offers may come in over the next
few days, and he will present them all to her at the end of the week. Ben has -
ANSWER-A licensee who receives an offer on behalf of a client must submit the
offer to the client as quickly as possible. In making a decision to hold offers without
being instructed to do so by Sallie, Ben has violated the licensing law.
Ben Broker has entered into an agency agreement to sell Sallie Seller's property. A
salesperson affiliated with another broker introduces a buyer to the property, and
that buyer actually purchases it. Ben would like to share some of his commission
earned from Sallie with the salesperson. Can he do so? - ANSWER-In a transaction
where there are two brokerage firms involved, all compensation must be paid to the
, real estate broker of the cooperating agency; it cannot be paid directly to another
broker's salesperson.
Ben Broker has entered into an agency agreement to sell Sallie Seller's property.
Sallie meets Betty, another broker, at a church event. Betty tells Sallie that she could
do a much better job advertising Sallie's property and suggests that Sallie terminate
her agreement with Ben and enter in a listing agreement with her. Betty's action
amounts to - ANSWER-Connecticut law prohibits a licensee from interfering with the
agency relationship of another licensee, and that includes advising a client of
another licensee to break her agency agreement.
Who may receive compensation from the Real Estate Guaranty Fund? - ANSWER-A
person may recover compensation from the Guaranty Fund if they are aggrieved by
the following actions of a licensed real estate broker, salesperson, or unlicensed
employee of a broker: the embezzlement of money or property; obtaining money or
property from persons by false pretenses, trickery, or forgery; or fraud,
misrepresentation, or deceit by or on the part of the licensed broker, salesperson, or
unlicensed employee of the broker. The person must first sue the licensee in court
and obtain a money judgment; if the licensee does not pay the money judgment, the
person can seek funds from the Fund.
The maximum compensation that will be paid from the Real Estate Guaranty Fund
for any single transaction is - ANSWER-The licensing law sets the maximum
compensation to be paid in connection with any single claim or transaction at
$25,000
All listings in Connecticut must include all of the following EXCEPT - ANSWER-An
agency agreement must contain all terms and conditions including compensation to
be paid, beginning and expiration dates, type of agency agreement, and signatures
and addresses of all parties concerned.
To change broker affiliation, a salesperson must - ANSWER-A salesperson can
change broker affiliation by registering the change with the Commission and paying
a $25 transfer fee
Kathleen accompanies a young couple during an open house on a property listed
with her agency. The couple is so impressed with the house and Kathleen's
response to their questions that they decide to make an offer. Before the offer is
presented to the principal, they ask Kathleen's personal opinion as to whether they
should require that the seller give them a warranty deed or a quitclaim deed at the
closing. Kathleen should - ANSWER-A real estate licensee cannot offer legal advice
or counsel, unless the licensee is also an attorney.
If a broker tells a lender that the sales price on a property is something above its
actual sales price, the - ANSWER-The licensing laws require that licensees
accurately represent the sales price of a property. A broker telling a lender that the
sales price of a property is more than it actually is has violated the licensing laws
(and possibly also committed bank fraud).
