Each written agreement which fixes the compensation to be paid to a real estate broker for the sale, lease or purchase of real property shall contain the following statement in not less than ten point boldface type or in a manner which otherwise stands out significantly from the text immediately preceding any provision of such agreement relating to compensation of the broker:
“NOTICE: THE AMOUNT OR RATE OF REAL ESTATE BROKER COMPENSATION IS NOT FIXED BY LAW. IT IS SET BY EACH BROKER INDIVIDUALLY AND MAY BE NEGOTIABLE BETWEEN YOU AND THE BROKER.”
(P.A. 80-99, S. 1, 2; P.A. 81-178, S. 2, 3; P.A. 94-240, S. 4, 14.)
History: P.A. 81-178 provided that real estate agreements may include the required notice in a conspicuous manner rather than use ten-point boldface type; P.A. 94-240 applied section to compensation for lease or purchase properties, substituted “broker compensation” for “commissions” and made certain minor technical corrections for clarity, effective July 1, 1994.
Cited. 213 C. 612.
Cited. 7 CA 570; 13 CA 527.
Cited. 41 CS 225.
Notes of Decisions
New England Land Co. v. DeMarkey, 569 A.2d 1098 (Conn. 1990).
· cites it 9× “, erred: (1) in finding probable cause that a listing complies with General Statutes § 20-325a, despite its failure to include a notice of negotiability mandated by General Statutes § 20-325b;* ****** 8 (2) in utilizing the provisions of a termination clause in a listing, which…”
Kovacs v. Kasper, 565 A.2d 18 (Conn. Super. Ct. 1989).
· cites it 4× “Section 20-325a (b) (5) requires a listing agreement to “be signed by the owner or an agent authorized to act on behalf of the owner only by a written document executed in the manner provided for conveyances in section 47-5 . . . .” (Emphasis added.”
Currie v. Marano, 537 A.2d 1036 (Conn. App. Ct. 1988).
· cites it 4× “The plaintiff claims that the trial court erred in concluding (1) that a real estate broker who earns a commission pursuant to an agreement that complies with General Statutes § 20-325a 1 *528 must in addition demonstrate that the written agreement complies with General Statutes…”
New England Retail Props., Inc. v. Maturo, 925 A.2d 1151 (Conn. App. Ct. 2007).
· cites it 2× “” Our review of the record reveals that the defendant failed to support her contention that failing to reduce the commission to present value was unconscionable.”
McLaughlin v. Charette, 509 A.2d 1068 (Conn. App. Ct. 1986).
· cites it 6× “Approximately a month and a half later, at the time scheduled for the hearing in damages, the defendants filed a motion to open the summary judgment on grounds not previously raised: that the plaintiff was not entitled to recover because the listing agreement did not comply with…”
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