Under Connecticut General Statutes, who is legally entitled to receive a real estate commission in a residential sales transaction?
Correct Answer
A) The licensed broker under whom the salesperson is affiliated
Under Connecticut license law (CGS Chapter 392), only a licensed real estate broker may legally receive a real estate commission. A salesperson is licensed under a supervising broker and cannot independently receive compensation from a client or a transaction. All commissions must flow through the broker, who then compensates the salesperson according to their internal agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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