Agency
The principal reason Connecticut requires written buyer agency agreements is to:
AIncrease commission rates
BClearly define the relationship, protect both parties' interests, and confirm the buyer's understanding of agency✓ Correct
CAllow brokers to collect double commissions
DEnable the MLS to track buyer transactions
Explanation
A written buyer's agency agreement defines the scope of representation, compensation, duration, and obligations of both parties—providing clarity, legal protection, and evidence of informed consent to agency.
Related Connecticut Agency Questions
- Under Connecticut agency law, which of the following is a fiduciary duty that a buyer's agent owes ONLY to the buyer and not to the seller?
- A Connecticut seller's agent receives two offers simultaneously—one at list price with many contingencies and one below list price with no contingencies. The agent must:
- A Connecticut buyer's agent learns that their buyer client plans to demolish a historic structure on the property. The agent should:
- Under Connecticut agency law, a licensee who provides real estate services to a customer (non-client) owes:
- Connecticut real estate law requires that the agency disclosure form explain to consumers:
- A real estate licensee in Connecticut who represents the seller in a transaction is best described as a(n):
- A Connecticut real estate licensee must present the 'Working With a Real Estate Broker' disclosure to a prospective buyer or seller:
- The fiduciary duty of 'accounting' requires a Connecticut agent to:
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