Agency
The agency relationship between a Connecticut broker and seller is MOST commonly created by:
AAn oral handshake agreement
BA written listing agreement signed by both parties✓ Correct
CThe seller posting the property on social media
DThe broker presenting an offer
Explanation
The listing agreement is the written contract that creates the agency relationship between the seller and the broker. Connecticut requires listing agreements to be in writing to be enforceable.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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