Jennifer is a Connecticut salesperson who has been working with buyer clients David and Maria for two weeks, showing them properties and discussing their financing options. Jennifer has not yet provided them with the required agency disclosure form. David and Maria now want to make an offer on a colonial home in New Haven. Which of the following best describes the legal consequence of Jennifer's failure to provide the disclosure form?
Correct Answer
A) Jennifer's broker may face disciplinary action by the Connecticut Real Estate Commission for the violation of CGS § 20-325c
Failure to provide the agency disclosure form at first substantive contact as required by CGS § 20-325c constitutes a violation of Connecticut license law under Chapter 392. The Connecticut Real Estate Commission has authority to impose disciplinary action on the licensee and supervising broker. The violation occurred at the point of first substantive contact, not at the time of the offer.
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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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