Marcus is a Connecticut licensed real estate broker who wants to operate his own independent brokerage. Under Connecticut law, which of the following is a requirement for Marcus to legally operate as an independent broker?
Correct Answer
A) Marcus must register his brokerage name with CREC and maintain a place of business in Connecticut.
Under CGS § 20-314 and related CREC regulations, a Connecticut broker operating independently must register any trade name or brokerage name with CREC and maintain a definite place of business within Connecticut. These requirements ensure that the brokerage is identifiable and accountable to the Commission and to the public.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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