Connecticut License Law
A Connecticut real estate broker is contacted by a buyer who wants to purchase a 'for sale by owner' (FSBO) property. The broker agrees to represent the buyer. To receive a commission, the broker should:
AFile a claim against the seller in court
BNegotiate a fee arrangement with the buyer (buyer's agency fee) before showing FSBO properties, since the FSBO seller has not agreed to pay the buyer's broker✓ Correct
CRepresent the buyer for free since the seller is not paying
DContact the seller and demand a commission as a condition of showing the property
Explanation
When representing a buyer on a FSBO property, the buyer's broker should have a written buyer's agency agreement specifying the fee arrangement. Since the FSBO seller has not offered to pay a buyer's broker commission, the buyer typically agrees to compensate their own broker.
Related Connecticut Connecticut License Law Questions
- A Connecticut broker receives a written complaint from a client claiming the broker mishandled escrow funds. The broker denies any wrongdoing. The Connecticut Real Estate Commission will:
- A Connecticut real estate salesperson switches from one broker to another. What must happen to the salesperson's license?
- Which of the following best describes 'commingling' of funds in Connecticut real estate?
- How many hours of the 12-hour Connecticut continuing education requirement must cover fair housing topics?
- How many hours of pre-license education must a Connecticut broker applicant complete?
- How many total questions are on the Connecticut real estate licensing exam?
- A Connecticut licensee has their license suspended for 6 months. After the suspension ends, the licensee may:
- A Connecticut real estate licensee who is convicted of fraud in a real estate transaction may have their license:
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →