CT Real Estate Licensee Duties to Parties

Conn. Agencies Regs. § 20-328-2a

Adopted by the Connecticut Real Estate Commission under CGS § 20-328 and administered by the Department of Consumer Protection, this rule sets out the duties a real estate licensee owes to parties in a transaction. It requires licensees to disclose any present or contemplated interest in a property and to disclose related-party relationships when acquiring listed property or selling property they own; mandates diligent effort on exclusive listings and buyer-representation agreements; requires listing brokers to submit all offers and counter-offers as quickly as possible and to cooperate with other brokers on mutually agreed terms when in the client's best interest; governs contact with parties who are exclusively represented by another agent; and prohibits placing transaction-related signs on a property without the owner's or lessor's written consent.