CT Real Estate Practice & Law QUESTIONS AND ASNWERS
YEAR 2025.
If a salesperson changes broker afillitation: - ✅✅The salesperson must pay a fee
return all records and information acquired during the first broker to the first broker.
fidiciary duty - ✅✅Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Reasonable care
Single Agency - ✅✅Agency relationship in which the agent represents only one party
to a transaction.
Dual Agency - ✅✅one agent representing both parties to a transaction. This is
unethical unless both parties agree to it, and it is illegal in many states
Designated Agency - ✅✅When a real estate broker represents both the buyer and
seller in the same transaction. But, one agent reprsents buyer another represents a
seller under the same broker.
Agency Disclosure - ✅✅Informing sellers and buyers of your working relationship
Subagency - ✅✅a real estate broekrr represent a buyer will allow agents at other
brokerage firms to show the sellers property on behalf of the seller; illegal without
written consent from seller
Exclusive Right to Sell Listing - ✅✅Under this listing arrangement, the broker
employed is entitled to a commission no matter who sells the property during the listing
period. (Even the Seller)
Exclusive Agency Listing - ✅✅The owner employs only one broker but retains the
right to personally sell the property, and thereby not pay a commission. However, if any
other real estate company sells the property, the listing broker is still entitled to the
commission stipulated.
Open Listing - ✅✅An agreement between an owner and many brokers. If a broker
produces a ready willing, and able buyer, a commission is due. However, the owner still
has the right to sell his/her property and is not obligated to pay a commission to anyone.
YEAR 2025.
If a salesperson changes broker afillitation: - ✅✅The salesperson must pay a fee
return all records and information acquired during the first broker to the first broker.
fidiciary duty - ✅✅Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Reasonable care
Single Agency - ✅✅Agency relationship in which the agent represents only one party
to a transaction.
Dual Agency - ✅✅one agent representing both parties to a transaction. This is
unethical unless both parties agree to it, and it is illegal in many states
Designated Agency - ✅✅When a real estate broker represents both the buyer and
seller in the same transaction. But, one agent reprsents buyer another represents a
seller under the same broker.
Agency Disclosure - ✅✅Informing sellers and buyers of your working relationship
Subagency - ✅✅a real estate broekrr represent a buyer will allow agents at other
brokerage firms to show the sellers property on behalf of the seller; illegal without
written consent from seller
Exclusive Right to Sell Listing - ✅✅Under this listing arrangement, the broker
employed is entitled to a commission no matter who sells the property during the listing
period. (Even the Seller)
Exclusive Agency Listing - ✅✅The owner employs only one broker but retains the
right to personally sell the property, and thereby not pay a commission. However, if any
other real estate company sells the property, the listing broker is still entitled to the
commission stipulated.
Open Listing - ✅✅An agreement between an owner and many brokers. If a broker
produces a ready willing, and able buyer, a commission is due. However, the owner still
has the right to sell his/her property and is not obligated to pay a commission to anyone.
