Maria is a Connecticut licensed salesperson working under broker ABC Realty. She meets a prospective buyer, Tom, at an open house and begins discussing his housing needs, budget, and preferred neighborhoods. Under CGS § 20-325c, at what point must Maria provide Tom with the state-required written agency disclosure?
Correct Answer
B) At the first substantive contact with Tom
CGS § 20-325c requires Connecticut licensees to provide the state-approved written agency disclosure form at the first substantive contact with a prospective buyer or seller. Discussing a buyer's needs, budget, and preferences at an open house qualifies as substantive contact, triggering the disclosure obligation immediately.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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