1. Connecticut Real Estate Agency Law Review and Fair Housing Part One
Mandatory Continuing Education Course
CE Cycle

2. This course was developed by the UConn Center for Real Estate at the request of the Connecticut Real Estate Commission We thank the following individuals for their contributions to this course:
Ben Castonguay; Chair, Connecticut Real Estate Commission
Lana Ogrodnik; Connecticut Real Estate Commission
Amy Bergquist; Connecticut Real Estate Commission
Kelly Harvey; Examiner, CT Department of Consumer Protection
Kristen Haseney, Esq.; Associate Counsel, Connecticut REALTORS®
Terry Hastings; Manager, Weichert Realtors, Ridgefield, CT
Rhonda Ivey-Lentini; Dynamic Directions, Inc.
Erin Kemple; Executive Director, Connecticut Fair Housing Center
Lucy Michaud, Esq.; Asst. Ext. Professor, UCONN Center for Real Estate
Valerie Votto, Esq.; Valerie Ann Votto, LLC
We also want to thank the National Association of Realtors for granting
permission to use the NAR Principles in this course.

3. Overview of this 3-Hour Mandatory Continuing Education Course for all Connecticut Real Estate Licensees
Agency Law
Dual Agency
Designated Agency
Fiduciary Duties
Agency Agreements and Practice
This course meets the minimum requirements as set forth by the Connecticut Department of Consumer Protection and Connecticut Real Estate Commission.
CT CE

4. Connecticut Real Estate 3-Hour Agency Law Review
and Fair Housing (Part One)
Slide # Minutes
Agency Law…..…………………………
Dual Agency……………………………
Designated Agency ………….….………
Fiduciary Duties………………………
Agency Agreements…………………
Agency Practice…………………………
Total = 3 Hours
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5. AGENCY LAW

6. Agency Law Pretest
True or False
Agents must require potential buyers to sign either a buyer representation or unrepresented persons agreement before showing their listed properties.
TRUE
2. A designated agent only represents one party and is not a dual agent.
3. Brokers are allowed to represent the seller and buyer as long as both parties sign a listing agreement.
FALSE
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7. Agency Law Pretest
True or False
4. Agents representing a landlord may show the client’s apartments to a potential tenant who has signed an Unrepresented Persons Disclosure form.
TRUE
5. A fiduciary relationship arises when the seller’s broker shows the listed property to buyers represented by another broker.
FALSE
6. Subagency is illegal in Connecticut.
7. A dual agent is required to act in the best interests of both the seller and the buyer.
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8. Agency Law Pretest
True or False
8. Dual agency consent can be obtained at the time an agency agreement is signed.
FALSE
9. A brokerage firm representing two buyers interested in the same property is not a dual agent.
TRUE
10. The agency disclosure notice is given to an unrepresented buyer or seller.
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9. Agency Law
An agent represents the interests of another person called the principal (client).
The office broker is the agent.
All salespersons/brokers who work for that office broker are also agents of the principal.
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10. Agency in Real Estate Broker and Salespersons Client Customer
Agency is created by a written agreement.
If there is no written agreement,
there is no agency
relationship.
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11. Client Agents must: promote their client’s interests above their own.
follow all lawful instructions of the client.
negotiate the best terms and conditions for client.
keep conversations and information between the agent and client confidential.
act ethically and honestly in all real estate matters.
treat all parties to the transaction with courtesy and respect.
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12. Customer Agent can assist but not advocate for customer.
Conversations and information between the agent and customer are not confidential.
Agent may have a duty to disclose to customer that conversations are not confidential.
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13. DUAL AGENCY

14. Dual Agency
A licensee may act as a dual agent by representing both the buyer and seller in the same transaction.
Licensees:
must treat both the buyer and seller fairly.
cannot represent one party to the detriment of the other.
must not disclose confidential information to the other side.
must provide non-confidential facts each party needs to make an informed decision.
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15. Parties to Dual Agency
The parties to the dual agency agreement are the buyer, seller, and the broker.
The salesperson is not a party to the agreement.
Salespersons are under the Broker’s supervision.
C.G.S. Section g – Dual Agency Consent Agreement
Sec g. Dual agency consent agreements. Conclusive presumption of informed consent. There shall be a conclusive presumption that a person has given informed consent to a dual agency relationship with a real estate broker if that person executes a written consent in the following form prior to executing any contract or agreement for the purchase, sale or lease of real estate:
DUAL AGENCY CONSENT AGREEMENT
Property Address: ....
Seller(s) or Landlord(s): ....
Buyer(s) or Tenant(s): ....
(1) This Dual Agency Consent Agreement is an addendum to and make part of (check all that apply):
( ) Listing Agreement dated .... between brokerage firm and seller or landlord.
( ) Buyer or tenant agency agreement dated .... between brokerage firm and buyer or tenant.
(2) Seller and buyer (or landlord and tenant, as the case may be) hereby acknowledge and agree that .... (name of brokerage firm) is representing both buyer and seller (or landlord and tenant, as the case may be) in the purchase and sale (or lease) of the above referenced property and that brokerage firm has been and is now the agent of both seller and buyer (or landlord and tenant, as the case may be). Seller and buyer (or landlord and tenant, as the case may be) have both consented to and hereby confirm their consent to this dual representation.
(3) Seller and buyer (or landlord and tenant, as the case may be) agree: (A) The brokerage firm shall not be required to and shall not disclose to either buyer or seller (or landlord or tenant, as the case may be) any personal, financial or other confidential information to such other party without the express written consent of the party whose information is disclosed, other than information related to material property defects which are known to the brokerage firm and other information the brokerage firm is required to disclose by law. (B) The brokerage firm may not disclose: (i) To the buyer that the seller (landlord) will accept less than the asking or listed price, unless otherwise instructed to do so in writing by the seller (landlord); (ii) to the seller (landlord) that the buyer (tenant) can or will pay a price greater than the price submitted in a written offer to the seller (landlord), unless otherwise instructed to do so in writing by the buyer (tenant); (iii) the motivation of the seller or buyer (or landlord or tenant, as the case may be) for selling, buying or leasing property, unless otherwise instructed in writing by the respective party; or (iv) that a seller or buyer will agree to financing terms other than those offered, unless instructed in writing by the respective party.
(4) Property information available through the multiple listing service or otherwise, including listed and sold properties, which has been requested by either the seller or the buyer (or landlord or tenant, as the case may be) shall be disclosed to both seller and buyer (or landlord and tenant, as the case may be).
(5) Both parties are advised to seek competent legal and tax advice with regard to this transaction, and with regard to all documents executed in connection with this transaction, including this Dual Agency Consent Agreement.
I have read and understand the above agreement.
Buyer
Seller
Brokerage Firm
(Landlord)
(Tenant)
(Authorized Representative)
(Company Name)
Date
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16. Dual Agency Situations
Dual agency occurs when a buyer’s agent shows the client a property listed by that agent’s firm, or
When the listing agent shows property to a buyer who is also represented by the same firm.
In dual agency situations, both the buyer and seller will be asked to sign a consent agreement.
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17. Example of Dual Agency
Seller signs a listing agreement in the real estate firm’s Avon office.
Buyer signs a representation agreement in the same firm’s Farmington office.
Agents from all of that firm’s offices represent both the seller and the buyer.
All parties to the real estate transaction have to sign a dual agency consent agreement.
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18. Landlord and Tenant Dual Agency
Dual agency applies to brokers representing both the landlord and tenant in the rental of an apartment.
Both the landlord and tenant would have to sign a
dual agency consent agreement.
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19. Dual Agency Review
A broker or salesperson may act as a dual agent by representing both the buyer and the seller with their informed written consent.
The licensees shall be neutral with regard to any conflicting interest between the buyer and seller.
If either buyer or seller do not agree to dual agency, the firm cannot represent both buyer and seller as a dual agent.
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20. DESIGNATED AGENCY

21. Designated Agency
A designated agent is appointed by the broker to represent one party (either the buyer or seller) in the same real estate transaction.
Designated agent must have the informed written consent of buyer and seller.
Parties to the designated agency agreement are the broker, buyer and seller, not the salesperson or real estate team.
CONNECTICUT DESIGNATED AGENCY
REGULATIONS CONCERNING THE CONDUCT OF REAL
ESTATE BROKERS AND SALESPERSONS
Designated Agency Consent and Notice. The following form shall be used as written notice and consent upon the appointment of a designated seller agent or designated buyer agent.
Dual Agency / Designated Agency
Disclosure Notice and Consent Agreement
Given to Persons Represented by the Same Brokerage Firm
Brokerage Firm: ___________________________________
Property Address:___________________________________
Buyer (Tenant): ___________________________________
Seller (Landlord): ___________________________________
The Brokerage Firm has entered into a written agency relationship with both Buyer and Seller (or Tenant and Landlord). Buyer (Tenant) is now interested in buying (leasing) Seller’s (Landlord’s) Property. If this transaction proceeds, Brokerage Firm will be a dual agent, since Brokerage Firm represents both parties. Connecticut law allows Brokerage Firm to be a dual agent, but only after both Buyer and Seller (or Tenant and Landlord) understand what dual agency is and consent to it.
Connecticut law also allows Brokerage Firms that are dual agents to appoint individual designated agents within their firm to solely represent Buyer and Seller (or Tenant and Landlord); again, this designation can only be made after both Buyer and Seller (or Tenant and Landlord) understand what designated agency is and consent to it.
Both Buyer and Seller (or Tenant and Landlord) are free to seek legal and tax advice with regard to this transaction, and with regard to all documents signed in connection with this transaction.
Understanding Dual Agency
Dual Agency means that the Brokerage Firm, and all the brokers and salespersons for the firm (unless designated agency is chosen) act in a fiduciary capacity for both Buyer and Seller (or Tenant and Landlord). In Dual Agency, the Brokerage Firm does not represent either the Buyer or Seller (or Tenant or Landlord) exclusively, and the parties can not expect the Brokerage Firm’s undivided loyalty.
The Brokerage Firm may not disclose to either the Buyer or Seller (or Tenant or Landlord) any personal, financial, or confidential information to the other party except as authorized by either party or required by law. The Brokerage Firm may not disclose, unless otherwise instructed by the respective party:
- to Buyer (Tenant) that Seller (Landlord) will accept less than the asking or listed price - to the Seller (Landlord) that the Buyer (Tenant) can pay a price greater than the price submitted in a written offer to the Seller, unless otherwise instructed to do so in writing by the Buyer (Tenant);
- the motivation of either Buyer or Seller (or Tenant or Landlord) for selling, buying, leasing the Property; and
- that Buyer or Seller will agree to financing terms other than those offered.
Dual Agency Consent
Buyer and Seller (or Landlord and Tenant) understand dual agency and consent to Brokerage Firm acting as a dual agent in this transaction.
Understanding Designated Agency
Designated Agency means the appointment by the Brokerage Firm of one broker or salesperson (referred to as agent) affiliated with or employed by the Brokerage Firm to solely represent Buyer (Tenant) as a Designated Buyer's Agent and appoint another to solely represent Seller (Landlord) as a Designated Seller's Agent in this transaction.
A Designated Buyer’s Agent and Designated Seller’s Agent owe the party for whom they have been appointed undivided fiduciary obligations, such as loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability. The Designated Agent is not deemed to be a Dual Agent, and thus does not owe fiduciary duties to the other party . A designated agent may use confidential information obtained about the other party while a designated agent for the benefit of the party for whom they have been appointed, however,
information obtained before the designation is still confidential. In the case of Designated Agency, Brokerage Firm is still considered a Dual Agent.
Appointment of Designated Agents
Buyer and Seller (or Landlord and Tenant) understand designated agency and have agreed to the appointment of designated agents.
If designated agency has been agreed to, the following designated agents have been appointed:
____________________ has been designated to solely represent Buyer (Tenant) as a Designated Buyer Agent.
____________________ has been designated to solely represent Seller (Landlord) as a Designated Seller Agent
Appointing broker/authorized agent: ____________________________ Date: ________________________
Acknowledgment of Buyer (Tenant) Acknowledgement of Seller (Landlord)
_______________________________________ ______________________________________
Signature(s) Date Signature(s) Date
Print Name(s) Print Name(s)
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22. Designated Agency is not Mandatory
The broker of record may appoint designated agents to represent each party, but is not required to do so.
If any of the parties to the real estate transaction refuse to sign the agreement, the broker cannot proceed with the appointment of designated agents.
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23. Review of Designated Agency
Brokers may assign a designated buyer agent and a designated seller agent within the real estate firm.
If the buyer or seller request a designated agent, the firm must comply or refer one of the clients to another real estate firm.
Designated agents are not dual agents, but the broker and the firm continue to be dual agents.
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24. Now, for the TEST…
QUESTION: You are a new salesperson, and the seller has just signed a listing agreement. Your name is on the contract as the real estate agent along with the seller’s name. Is this okay? ANSWER: No! The listing agreement must be between the broker and the seller. The agent is authorized to sign on behalf of the broker.
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25. FIDUCIARY DUTIES

26. Fiduciary Duties
A fiduciary is a person who occupies a position of special trust in relation to another person.
Fiduciaries are held to a HIGHER standard of care than non-fiduciaries.
Agents must act in the Best Interests of the Principal when carrying out their duties.
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27. Agents are Fiduciaries
Agency is a fiduciary relationship with special duties of:
Obedience
Loyalty
Disclosure
Confidentiality
Accountability
Reasonable Care and Diligence
Fiduciary Duties = O L D C A R
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28. 1. Obedience
Agents are obligated to obey promptly and efficiently all lawful instructions of the client.
Agents must act ethically and in good faith when representing their clients.
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29. 2. Loyalty
Agents must act at all times in the best interests of their principal/client.
Agents have a duty to avoid any conflicts of interest that may compromise their undivided loyalty to the principal.
Agents must act for the benefit of their clients in all matters connected with the real estate transaction.
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30. 3. Disclosure
Agents must disclose to their clients all material information relating to the condition of the house.
Agents have a fiduciary duty to disclose any facts that would affect the client’s ability to buy or sell.
If agents are aware of a problem with the condition of the house, they must disclose that information to the client.
The sellers know that there is a problem with the septic system, but they fail to disclose the problem on the Residential Property Condition Report. The agent must let the sellers know they have a responsibility to disclose the fact that the septic system is not operating properly.
If a buyer or lessee requests written disclosure of the property’s status regarding a homicide, other felony or suicide, this information is important to the client’s decision to buy or rent. The owner must report these facts, through the agent, to the buyer or lessee.
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31. 4. Confidentiality
Safeguard your client’s information, unless keeping the confidence would violate residential property condition disclosure requirements.
Personal and financial information, such as a reason for buying or selling, must be kept confidential.
Confidential information cannot be revealed by the licensee during or after the agency relationship ends.
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32. 5. Accountability
Agent must account for all money and documents being held for the client.
Trust funds held on behalf of the client must be deposited into a separate escrow account within three (3) banking days.
Combining broker’s funds with client’s funds in the same account is a breach of fiduciary duty.
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33. 6. Reasonable Care and Diligence
Agents must use reasonable care and diligence in representing their client’s interest in the real estate transaction.
The Standard of Care is that of a competent licensed and law-abiding real estate professional.
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34. AGENCY AGREEMENTS

35. Agency Agreements
Agency agreements run from the broker to the client and all licensees affiliated with that broker.
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36. Client or Customer?
If a consumer enters into a written real estate agency agreement, it is a Client relationship.
If a consumer refuses to enter into a written agency agreement, then it is a Customer relationship.
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37. Customer Relationship
If it is a customer relationship, you must disclose non- agency by providing a Real Estate Agency Disclosure Notice Given to Unrepresented Parties
You can only show in-house listings to customers as the seller’s agent.
You need subagency consent or a buyer representation agreement to show another firm’s listings to a customer.
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38. Subagent
A subagent is a second broker or agent authorized to assist the seller’s agent to act on the principal’s behalf.
A cooperating broker can only act as a subagent of a seller’s broker if the seller consents to the subagency.
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39. Buyer Representation
Agent represents the buyer in a real estate transaction
Arranges property showings that meet the buyer’s needs
Helps the buyer obtain information about the property
Directs buyer to the proper resources for additional information the buyer seeks about the property or area
Advises the buyer on what price to offer the seller
Deposits escrow checks within 3 banking days of signed offer
Negotiates the best price and terms for the buyer
Monitors all dates, events and requirements for the buyer
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40. Buyer Representation Agreement
The Buyer Representation Agreement must be signed at the first personal meeting.
Buyer signs a representation agreement with one broker and agrees to pay certain fees for help with finding a home.
If a potential buyer refuses to sign a Buyer Representation Agreement, the Listing Agent must ask the buyer to sign an Unrepresented Persons Disclosure before showing the property.
If buyers are not represented, the licensee attempting to represent them as a buyer’s broker cannot assist them.
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41. Buyer’s brokers must disclose to their clients any:
facts affecting the value of the property
personal relationship between buyer’s broker and the seller, or the property
other offers or counteroffers that have been made on the property
information that would affect the buyer’s ability to purchase the property
Sec cc. "Nonmaterial fact concerning real property" defined. As used in sections cc to ff, inclusive, a "nonmaterial fact concerning real property" means a fact, set of facts or circumstances surrounding real estate which includes, but is not limited to: (1) The fact that an occupant of real property is or has been infected with a disease on the list of reportable diseases, emergency illnesses and health conditions issued by the Commissioner of Public Health pursuant to section 19a-2a; or (2) the fact that the property was at any time suspected
to have been the site of a death or felony.
Sec dd. Nonmaterial fact concerning real property. No disclosure required. No cause of action.
(a) The existence of a nonmaterial fact concerning real property is not a material fact that must be disclosed in a real
estate transaction.
(b) No cause of action shall arise against an owner of real estate, the owner's agent or any agent of the transferee for the failure to disclose a nonmaterial fact concerning real property to the transferee.
Sec ee. Purchaser or lessee may request written disclosure of property's status re homicide, other felony or suicide. Notwithstanding sections cc and dd, if a purchaser or lessee of real estate, who was in the process of making a bona fide offer, advises an owner of real estate or his or her agent, in writing, that knowledge that the property was at any time suspected to have been the site of a homicide, other felony or a suicide is important to the purchaser's decision to purchase or lease the property, the owner through his or her agent shall
report any findings to the purchaser or lessee, in writing subject to and consistent with applicable laws of privacy. If owners refuse to disclose such information, their agent shall so advise the purchaser or lessee in writing.
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42. Seller Representation
A listing agent representing the seller in a real estate transaction:
prepares a competitive market analysis of the seller’s property.
develops and implements effective marketing strategies for the seller, including asking price and staging.
informs the seller of how much other comparable homes have sold for in the neighborhood.
promptly presents all offers to the seller.
negotiates exclusively on the seller’s behalf.
monitors all dates, events and requirements for the seller.
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43. Seller Agency
The written listing agreement with the seller must clearly state the compensation arrangement.
Seller must comply with all state and federal disclosure requirements.
Seller may choose to pay $500 as a credit to buyer at the closing, instead of completing the Residential Property Condition Disclosure Report.
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44. Representation Agreements must be signed at the first personal meeting
SELLER
BUYER
1. Open Listing
4. Open Right to Represent Buyer
2. Exclusive Agency Listing
5. Exclusive Agency Right To Represent Buyer
3. Exclusive Right To Sell
6. Exclusive Right To Represent Buyer
Other Agreements
7. Limited Services Unrepresented Persons

45. 1. Open Listing
For Sale by Owner (FSBO) home is sold without a listing agent.
Open Listing is a non-exclusive agreement, meaning that the seller may sign open listing agreements with multiple real estate brokers and pay only the one broker who brings an able buyer whose offer the owner accepts.
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46. 2. Exclusive Agency Listing
Listing Agreements must be entered into before a broker or salesperson attempts to negotiate on behalf of the seller, market the property, post a sign, or advertise the property in any manner, including on social media.
With an Exclusive Agency Listing:
a broker represents the sellers,
but sellers reserve the right to sell the property on their own without paying a commission to their agent.
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47. 3. Exclusive Right to Sell
An Exclusive Right to Sell listing exists when the seller's broker will receive a commission from the seller, regardless of who brings the buyer into the purchase.
When the broker has an Exclusive Right to Sell, the sellers cannot list the property with any other agent and must pay the agent's commission even if the sellers (and not the agent) find a buyer.
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48. 4. Open Right to Represent Buyer
With an Open Right to Represent Buyer agreement:
Buyers are free to work with another broker firm, or find a property on their own.
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49. 5. Exclusive Agency Right to Represent Buyer
If the client agrees to sign an Exclusive Agency Right to Represent Buyer, a specific brokerage firm:
is authorized to assist the buyer with locating and purchasing property;
will negotiate on the buyer’s behalf; and
When buyers enter into a purchase agreement, they are obligated to pay the broker a commission.
Buyers may find a property on their own and not owe a commission to the broker.
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50. 6. Exclusive Right to Represent Buyer
If the client signs an Exclusive Right to Represent Buyer agreement, the payment of commission provision must be clearly explained and conspicuously disclosed in the wording of the agency contract.
The broker cannot require a buyer to sign an Exclusive Right to Represent Buyer Agreement.
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51. 7. Limited Services
A limited services company is a legitimate business.
A limited services company may offer any variety of services in different packages, or for less than full brokerage services.
Limited services are priced a La Carte, and may be offered for a flat fee or any other legally accepted way.
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52. 8. Unrepresented Persons
Anyone who is not represented by an agent must be asked to sign an Unrepresented Persons Agreement at the first meeting in person, or when contacted on the phone, or by .
Agents may show property to an unrepresented person, but the property must be listed by the agent’s sponsoring broker. In this situation, the broker represents the seller.
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53. Unrepresented Persons Disclosure
If the Unrepresented Persons Disclosure is not signed, the agent may write “Refused to Sign” on the form and still show the firm’s listed property to the unrepresented person.
The Unrepresented Persons Disclosure states that the broker represents the seller, and that buyer does not want to be represented by the seller’s Listing Agent.
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54. Interference with Agency Relationships
Licensees are prohibited from interfering with existing agency relationships.
Listing agents are prohibited from communicating directly with a buyer represented by another broker.
Buyer’s agents cannot try to take another broker’s listing.
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55. Now, for the TEST…
An agent is showing property that is listed by her affiliated broker to a potential buyer. Does the buyer have to sign a Buyer Broker Agreement?
No! The buyer has a choice to be represented or unrepresented. If the buyer wants to be represented, he will sign a Buyer Representation Agreement. If not, he will sign an Unrepresented Persons Disclosure.
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56. AGENCY PRACTICE

57. Working with the Buyer as a Customer:
Agents representing the Seller:
must provide Buyer with Real Estate Agency Disclosure Notice Given to Unrepresented Parties C.G.S. Section d – Disclosure of Representation
can only show in-house listings
can give buyer information on property, agent’s firm, mortgage rate and lending institutions
Listing agents cannot:
ask Buyer to disclose confidential information
show property listed with another firm
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58. 1. What should you do?
Buyer has approached the seller’s broker about viewing properties,
but the buyer does not want to sign a Buyer Representation Agreement.
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59. You should:
ask whether buyer is currently being represented by another firm.
explain your firm’s office policy on dual agency, designated agency, and other legal relationships that you could potentially have with the buyer.
explain that you can work with the buyer as a customer for your broker’s own listings.
tell buyer not to provide confidential information to you until you have entered into an agency relationship with the buyer.
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60. 2. What should you do?
You get a call from someone who wants to meet you at a property listed with another firm.
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61. You should: Ask whether the person is represented by another firm.
Explain agent’s firm’s agency policies.
Explain that in order to show another firm’s listing, the person must sign a buyer representation agreement.
Arrange for a meeting where the agent can explain buyer agency more fully to buyer.
Note that agent could show buyer an in-house listing in the capacity of the seller’s representative, after having provided Buyer with the Real Estate Agency Disclosure Notice Given to Unrepresented Parties.
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62. 3. What should you do?
Buyers are interested in entering into a Buyer Agency Agreement,
but they do not want to accept any financial responsibility for your commission.
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63. You should:
specifically and accurately explain the compensation arrangement in the Buyer Agency Agreement.
Some options are that:
Buyers have no obligation to pay you a fee under any circumstances; or
Buyers have an obligation to pay you a fee only if seller or seller’s agent does not compensate you; or
Buyers have an obligation to pay you a fee.
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64. 4. What should you do?
Firm policy allows representation of both buyers and sellers, so a dual agency conflict may arise.
At the time of her buyer agency consultation with the firm, you notify buyer of this possibility.
Buyer asks you “What will happen if I am interested in making an offer on one of your in-house listings?”
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65. You should explain how the firm handles dual agency:
“If you are interested in making an offer on an in-house listing, our firm would be a dual agent. The firm would inform you of this situation before you write up the offer.”
“With your approval and the seller’s written consent, we could proceed in one of two ways.
First the firm and all of its agents could act as dual agents representing both you and the seller. As a dual agent, the firm would have certain prohibitions against disclosure of confidential information about you to the seller and vice versa.
Second, the firm could assign a designated agent within the firm to represent you, and another agent to represent the seller. While the firm would still be considered a dual agent, your designated agent would owe full loyalty to you.”
“If either you or the seller do not agree to either of these options, the firm would have to terminate our agency agreement with one of you.”
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66. 5. What should you do? Buyer contacts you about a property.
Buyer states that she has previously signed a Buyer Agency Agreement with another firm.
Now the buyer wants you to be her agent.
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67. You should:
not encourage the buyer to break her agency agreement with the other firm.
Penalties against you for advising buyer to switch:
You may lose your license.
You may have to pay a fine.
You cannot assist the buyer while she is under an agency agreement with another firm.
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68. Any Questions or Comments?
Please contact Lucy Michaud
University of Connecticut
2100 Hillside Road, Unit 1041
Storrs, CT