Broker Kim in Connecticut is suing a seller to recover a commission. The seller argues that the commission agreement is unenforceable. Under CGS § 20-325a, which of the following is required for a Connecticut broker's commission agreement to be enforceable in court?
Correct Answer
A) The agreement must be in writing, signed by the party to be charged, and include specific statutory elements such as the broker's license number.
CGS § 20-325a specifically requires that a real estate commission agreement in Connecticut must be in writing, signed by the party to be charged (or their authorized agent), and must contain certain elements including the broker's name and license number, the property address, the listing price or range, the commission amount or rate, and the expiration date. Without these elements, the agreement is unenforceable in Connecticut courts.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
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