SB 340 — AN ACT CONCERNING CONTINUING REAL ESTATE EDUCATION REQUIREMENTS, PUBLIC MARKETING OF CERTAIN REAL ESTATE LISTINGS AND REVISING THE TITLE OF A REAL ESTATE SALESPERSON TO A REAL ESTATE AGENT.

222 in the real estate business, and (B) any person employed by or on behalf of the owner or owners of lots or other parcels of real estate, at a stated salary, upon commission, upon a salary and commission basis or otherwise to sell such real estate, or any parts thereof, in lots or other parcels, and who sells or exchanges, or offers, attempts or agrees to negotiate the sale or exchange of, any such lot or parcel of real estate;

(29)Public "ResidentialAct realNo. property" means any one to four-family residential real estate located in this state, including, but not limited to, (A) a cooperative or condominium where the total number of units in such cooperative or condominium does not exceed four units, and (B) any individual unit within a multiunit development;

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340 (29) "Residential real property" means any one to four-family residential real estate located in this state, including, but not limited to, (A) a cooperative or condominium where the total number of units in such cooperative or condominium does not exceed four units, and (B) any individual unit within a multiunit development;

and sSB340(33) /"Team Filename" No.means the name used to refer to a team in team advertisements.

222 9 sSB340 File No.

222 (33) "Team name" means the name used to refer to a team in team advertisements.

Subsection (e) of section 20-312 of the general statutes is repealedandthefollowingissubstitutedinlieuthereof(EffectiveJanuary 1,Public 2027):Act No.

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340 1, 2027):

(B) Not include the name of any individual who is not a licensed real sSB340estate /broker Fileor No.real estate [salesperson] agent;

222 10 sSB340 File No.

222 estate broker or real estate [salesperson] agent;

and (3)Public TheAct nameNo. and contact information for each real estate broker or real estate [salesperson] agent who is part of such team.

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340 (3) The name and contact information for each real estate broker or real estate [salesperson] agent who is part of such team.

Section 20-314 of the general statutes is repealed and the sSB340following /is Filesubstituted No.in lieu thereof (Effective January 1, 2027):

222 11 sSB340 File No.

222 following is substituted in lieu thereof (Effective January 1, 2027):

(c)Public InAct orderNo. to determine the competency of any applicant for a real estate licensee's license, the commission or Commissioner of Consumer Protection shall, on payment of an application fee of one hundred twenty dollars by an applicant for a real estate broker's license or an application fee of eighty dollars by an applicant for a real estate [salesperson's]agent'slicense, subject suchapplicant to personalwritten examination as to the applicant's competency to act as a real estate broker or real estate [salesperson] agent, as the case may be.

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340 (c) In order to determine the competency of any applicant for a real estate licensee's license, the commission or Commissioner of Consumer Protection shall, on payment of an application fee of one hundred twenty dollars by an applicant for a real estate broker's license or an application fee of eighty dollars by an applicant for a real estate [salesperson's]agent's license, subject suchapplicant to personalwritten examination as to the applicant's competency to act as a real estate broker or real estate [salesperson] agent, as the case may be.

sSB340(d) /(1) FileEach applicant shall, before being admitted to such examination, prove to the satisfaction of the commission or the Commissioner of Consumer Protection that the applicant (A) (i) has beenactively engaged asa licensed realestate [salesperson]agent under the supervision of a supervising licensee, who is licensed in this state, for a minimumperiodofthreeyearsimmediately precedingthedatethe applicant filed such applicant's application, during which period such [salesperson] agent engaged in the real estate business for at least one Public Act No.

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222340 (d) (1) Each applicant shall, before being admitted to such examination, prove to the satisfaction of the commission or the Commissioner of Consumer Protection that the applicant (A) (i) has beenactively engaged asalicensed realestate [salesperson]agent under the supervision of a supervising licensee, who is licensed in this state, for a minimumperiodofthreeyearsimmediately precedingthedatethe applicant filed such applicant's application, during which period such [salesperson] agent engaged in the real estate business for at least one thousand five hundred hours and such supervising licensee, or such supervising licensee's authorized representative, has certified the accuracy of a record of such applicant's active engagement on a form provided by such applicant to such supervising licensee or authorized representative, (ii) has successfully completed a course approved by the commission or commissioner in real estate principles and practices of at least sixty classroom hours of study, (iii) has successfully completed a course approved by the commission or commissioner in real estate legal compliance consisting of at least fifteen classroom hours of study, (iv) has successfully completed a course approved by the commission or commissioner in real estate brokerage principles and practices consisting of at least fifteen classroom hours, (v) has successfully completed two elective courses, each consisting of fifteen classroom hours of study, as prescribed by the commission or commissioner, and (vi) has represented a seller, buyer, lessor or lessee in at least four real estate transactions that closed during the three years immediately preceding the date on which such applicant filed such applicant's application,or(B)hasequivalentexperienceoreducationasdetermined by the commission or commissioner.

(2) The commission or the commissioner shall waive the elective courses under subparagraph (A)(v) of subdivision (1) of this subsection sSB340if /the Fileapplicant No.has successfully completed at least twenty real estate transactions within five years immediately preceding the date of application.

222(3)Eachapplicant 13for sSB340a Filerealestate [salesperson's]agent's license shall, Public Act No.

22226-23 if14 theof applicant52 hasSubstitute successfullySenate completedBill atNo. least twenty real estate transactions within five years immediately preceding the date of application.

(3)Eachapplicant340 for arealestate [salesperson's]agent's license shall, before being admitted to such examination, prove to the satisfaction of the commission or the commissioner that the applicant (A) has successfully completed a course approved by the commission or commissioner in real estate principles and practices consisting of at least sixty classroom hours of study, or (B) has equivalent experience or education as determined by the commission or commissioner.

Any license which expires and is not renewed on or before the ninetieth day following the expiration date of such license may be reinstated by the commission or department, in the commission's or department's sSB340discretion, /provided Filesuch license has expired for less than three years andtheformerlicensee (1)atteststhatsuch former licensee didnot work Public Act No.

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222340 discretion, provided such license has expired for less than three years andtheformerlicensee (1)atteststhatsuchformer licensee didnot work in this state in the occupation or profession in which such former licensee was licensed while such former licensee's license was lapsed, (2) pays the renewal fee due for such license for the year in which such license is reinstated, and (3) completes any continuing education required for such license for the year preceding such reinstatement.

(g) Following a denial of a license or license renewal application filed underPublic thisAct section, the department shall send a notice to the applicant sSB340 / File No.

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222340 under this section, the department shall send a notice to the applicant who filed such application disclosing such denial and that such applicant may request a hearing by submitting to the Commissioner of Consumer Protectionawrittenhearingrequest notlaterthanthirty days after the date such denial notice was sent to such applicant.

A leasing agent shall not offer leasing services for anyPublic personAct thatNo. is not a development owner.

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340 any person that is not a development owner.

A leasing agent shall obtain a written sSB340contract /fromthedevelopment Fileowner No.to demonstrate suchemployment prior to engaging in any leasing activity at such development.

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222 contract fromthedevelopment owner to demonstrate suchemployment prior to engaging in any leasing activity at such development.

I UNDERSTAND THAT THE REAL ESTATE BROKER OR [SALESPERSON]Public AGENTAct INNo. THIS TRANSACTION HAS OFFERED TOASSISTMEINFINDINGAMORTGAGELOAN.ADDITIONALLY, I UNDERSTAND THAT THIS REAL ESTATE BROKER OR [SALESPERSON] AGENT DOES NOT REPRESENT ANY PARTICULAR MORTGAGE LENDER AND WILL ATTEMPT TO OBTAIN THE BEST TERMS AVAILABLE WITHIN THE MORTGAGE LOAN MARKET FOR MY SPECIFIC HOME FINANCING NEEDS.

IF26-23 sSB34018 /of File52 Substitute Senate Bill No.

222340 17[SALESPERSON] sSB340AGENT FileIN No.THIS TRANSACTION HAS OFFERED TOASSISTMEINFINDINGAMORTGAGELOAN.ADDITIONALLY, I UNDERSTAND THAT THIS REAL ESTATE BROKER OR [SALESPERSON] AGENT DOES NOT REPRESENT ANY PARTICULAR MORTGAGE LENDER AND WILL ATTEMPT TO OBTAIN THE BEST TERMS AVAILABLE WITHIN THE MORTGAGE LOAN MARKET FOR MY SPECIFIC HOME FINANCING NEEDS.

222IF THE REAL ESTATE BROKER OR [SALESPERSON] AGENT DOES NOT FULFILL [HIS] SUCH BROKER'S OR AGENT'S FIDUCIARY OBLIGATION I MAY FILE A COMPLAINT WITH THE DEPARTMENT OF BANKING.

(3) Provides the licensed broker a copy of the out-of-state broker's license or other proof of licensure from the states where the out-of-state brokerPublic maintainsAct aNo. license as a real estate broker;

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340 broker maintains a license as a real estate broker;

sSB340(b) /An Fileout-of-state No.[salesperson] agent may perform acts with respect to a commercial real estate transaction that require a license as a real estate [salesperson] agent under this chapter, provided the out-of-state [salesperson] agent complies with the laws of this state with respect to the transaction and:

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222 (b) An out-of-state [salesperson] agent may perform acts with respect to a commercial real estate transaction that require a license as a real estate [salesperson] agent under this chapter, provided the out-of-state [salesperson] agent complies with the laws of this state with respect to the transaction and:

(d) Each out-of-state broker or out-of-state [salesperson] agent that advertisesPublic forAct saleNo. commercial real estate pursuant to this section shall include in any advertising material the name of the licensed broker with whom the out-of-state broker has a written agreement pursuant to subdivision (2) of subsection (a) of this section.

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340 advertises for sale commercial real estate pursuant to this section shall include in any advertising material the name of the licensed broker with whom the out-of-state broker has a written agreement pursuant to subdivision (2) of subsection (a) of this section.

Section 20-327bof the 2026 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective sSB340January /1, File2027): No.

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222 January 1, 2027):

(2) transfers made to the spouse, mother, father, brother, sister,Public child,Act grandparentNo. or grandchild of the transferor where no consideration is paid;

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340 sister, child, grandparent or grandchild of the transferor where no consideration is paid;

(c) The provisions of this section shall apply only to transfers by sale, sSB340exchange /or Filelease No.with option to buy, of residential real property consisting of not less than one nor more than four dwelling units which shall include cooperatives and condominiums, and shall apply to all transfers, with or without the assistance of a licensed real estate broker or [salesperson] agent, as defined in section 20-311, as amended by this act.

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222 exchange or lease with option to buy, of residential real property consisting of not less than one nor more than four dwelling units which shall include cooperatives and condominiums, and shall apply to all transfers, with or without the assistance of a licensed real estate broker or [salesperson] agent, as defined in section 20-311, as amended by this act.

include section headings in bold type and includePublic spaceAct forNo. the buyer and the seller's initials on each page, except the signature page.

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340 include space for the buyer and the seller's initials on each page, except the signature page.

sSB340(2) /Pursuant Fileto No.the Uniform Property Condition Disclosure Act, the seller is obligated to answer the following questions and to disclose herein any knowledge of any problem regarding the following:

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222 (2) Pursuant to the Uniform Property Condition Disclosure Act, the seller is obligated to answer the following questions and to disclose herein any knowledge of any problem regarding the following:

(iii)Public DoesAct anyoneNo. else claim to own any part of your property, including, but not limited to, any encroachment(s)? If YES, explain:

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340 (iii) Does anyone else claim to own any part of your property, including, but not limited to, any encroachment(s)? If YES, explain:

(viii) Is the property located in a municipally designated village district, municipally designatedhistoricdistrict or listedontheNational sSB340Register /of FileHistoric No.Places? If YES, explain:

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222 Register of Historic Places? If YES, explain:

(xii) Is the property located in a common interest community? If YES, isPublic itAct subjectNo. to any community or association dues or fees? Please explain:

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340 is it subject to any community or association dues or fees? Please explain:

sSB340(iii) /Is Filethere No.an underground storage tank? If YES, give AGE of tank and LOCATION.

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222 (iii) Is there an underground storage tank? If YES, give AGE of tank and LOCATION.

(v)Duringthetimeyouhaveownedtheproperty,hasthereeverbeen anundergroundstoragetanklocatedontheproperty?IfYES,hasitbeen removed? If YES, what was the date of removal and what was the name and address of the person or business who removed such underground storage tank? Provide any and all written documentation of such removalPublic withinAct yourNo. control or possession by attaching a copy of such documentation to this form.

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340 removal within your control or possession by attaching a copy of such documentation to this form.

(II) Are there any UNPAID water charges? If YES, state the amount sSB340unpaid: / File No.

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222 unpaid:

Are you aware of any problems withPublic theAct well,No. or with the water quality, quantity, recovery, or pressure? If YES, explain:

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340 with the well, or with the water quality, quantity, recovery, or pressure? If YES, explain:

sSB340(H) /A Filesubsection No.entitled "Building/Structure/Improvements" (i) Is the foundation made of concrete? If NO, explain:

222Public 25Act sSB340 File No.

22226-23 (H)27 A subsection entitled "Building/Structure/Improvements" (i) Is the foundation made of concrete?52 IfSubstitute NO,Senate explain:Bill No.

340 (ii) Foundation/Slab problems or settling? If YES, explain:

sSB340Public /Act File No.

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222340 (xvi) Interior Floor, Wall and/or Ceiling problems? If YES, explain:

(ii) During the time that the seller has owned the property, has the seller received assistance or is the seller aware of any previous owners receiving assistance from the Federal Emergency Management Agency, the United States Small Business Administration or any other federal or state disaster assistance program for flood damage to the property? (iii) Is there a current flood insurance policy in effect on the property? (iv)Isa FederalEmergency Management Agency elevationcertificate available? (v) Has the seller ever filed a claim for flood damage to the property? (vi)Public IfAct there is a structure on the property, has the structure experienced any water penetration or damage due to seepage or a natural flood event? sSB340 / File No.

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222340 (vi) If there is a structure on the property, has the structure experienced any water penetration or damage due to seepage or a natural flood event? (J) The Seller should attach additional pages to further explain any item(s) above.

T1 ....

(Seller) T2 ....

IMPORTANT INFORMATION (A) RESPONSIBILITIES OF REAL ESTATE BROKERS ThisPublic reportAct inNo. no way relieves a real estate broker of the broker's obligation under the provisions of section 20-328-5a of the Regulations of Connecticut State Agencies to disclose any material facts.

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340 This report in no way relieves a real estate broker of the broker's obligation under the provisions of section 20-328-5a of the Regulations of Connecticut State Agencies to disclose any material facts.

sSB340(B) /STATEMENTS FileNOT No.TO CONSTITUTE A WARRANTY Any representations made by the seller on the written residential condition report shall not constitute a warranty to the buyer.

222 28 sSB340 File No.

222 (B) STATEMENTS NOT TO CONSTITUTE A WARRANTY Any representations made by the seller on the written residential condition report shall not constitute a warranty to the buyer.

(G)Public CONCRETEAct FOUNDATIONNo. Prospective buyers may have a concrete foundation inspected by a licensed professional engineer who is a structural engineer for deterioration of the foundation due to the presence of pyrrhotite.

(H)26-23 DAM31 Information concerning the registration and categorization of a52 damSubstitute onSenate theBill property may be obtained from the Department of Energy and sSB340 / File No.

222340 29(G) sSB340CONCRETE FileFOUNDATION No.Prospective buyers may have a concrete foundation inspected by a licensed professional engineer who is a structural engineer for deterioration of the foundation due to the presence of pyrrhotite.

222(H) DAM Information concerning the registration and categorization of a dam on the property may be obtained from the Department of Energy and Environmental Protection.

APublic certificationAct byNo. the buyer in the following form:

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340 A certification by the buyer in the following form:

T3 ....

(Buyer) T4 ....

(Buyer)" sSB340(e) /On Fileor No.after January 1, 1996, the Commissioner of Consumer Protection shall make available the written residential condition reports prescribed in accordance with the provisions of this section and sections 20-327cto 20-327e, inclusive, to theDivisionofRealEstate, all municipal town clerks, the Connecticut Association of Realtors, Inc., and any other person or institution that the commissioner believes would aid in the dissemination and distribution of such forms.

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222 (e) On or after January 1, 1996, the Commissioner of Consumer Protection shall make available the written residential condition reports prescribed in accordance with the provisions of this section and sections 20-327cto 20-327e, inclusive, to theDivisionofRealEstate, all municipal town clerks, the Connecticut Association of Realtors, Inc., and any other person or institution that the commissioner believes would aid in the dissemination and distribution of such forms.

(g) In any transfer of residential real property that is located in a municipality that the Capitol Region Council of Governments determinesisaffected,Public orpotentiallyaffected,bycrumblingAct foundationsNo. and was acquired by a political subdivision of this state or was acquired by a judgment of strict foreclosure or by foreclosure by sale or by a deed in lieu of foreclosure, the owner or political subdivision shall, through a written residential condition report described in subsection (h) of this section, disclose to the prospective purchaser of such real property, at any time prior to the prospective purchaser's execution of any binder, contract to purchase, option or lease containing a purchase option, any facts that are within such owner's or political subdivision's actual knowledge concerning:

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340 determinesisaffected, orpotentiallyaffected,bycrumbling foundations and was acquired by a political subdivision of this state or was acquired by a judgment of strict foreclosure or by foreclosure by sale or by a deed in lieu of foreclosure, the owner or political subdivision shall, through a written residential condition report described in subsection (h) of this section, disclose to the prospective purchaser of such real property, at any time prior to the prospective purchaser's execution of any binder, contract to purchase, option or lease containing a purchase option, any facts that are within such owner's or political subdivision's actual knowledge concerning:

(2) Any damage or deterioration in any concrete foundation on such property, including, but not limited to, any damage or deterioration sSB340caused /by Filethe No.presence of pyrrhotite in any foundation on such property;

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222 caused by the presence of pyrrhotite in any foundation on such property;

(1)Public AAct sectionNo. entitled "Instructions to Sellers" YouMUSTanswer ALLquestionsbasedonyour knowledge.

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340 (1) A section entitled "Instructions to Sellers" YouMUSTanswer ALLquestionsbasedonyour knowledge.

(A) A subsection entitled "Subject Property" sSB340(i) /Name Fileof No.seller(s) (ii) Street address, municipality, zip code (B) A subsection entitled "Information About the Foundation" (i) Do you have any knowledge related to the presence of pyrrhotite in any concrete foundation on the subject property? If YES, explain:

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222 (i) Name of seller(s) (ii) Street address, municipality, zip code (B) A subsection entitled "Information About the Foundation" (i) Do you have any knowledge related to the presence of pyrrhotite in any concrete foundation on the subject property? If YES, explain:

(3)Public InAct aNo. separate section immediately below the questions contained in subdivision (2) of this subsection, the following information in the following form:

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340 (3) In a separate section immediately below the questions contained in subdivision (2) of this subsection, the following information in the following form:

Prospective sSB340buyers /may Filehave No.a concrete foundation inspected by a licensed professional engineer for deterioration of the foundation due to the presence of pyrrhotite.

222 33 sSB340 File No.

222 buyers may have a concrete foundation inspected by a licensed professional engineer for deterioration of the foundation due to the presence of pyrrhotite.

The buyer understands that there are parts of the property, including the foundation, for which the seller has no knowledge and that this report doesPublic notAct encompassNo. those parts.

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340 does not encompass those parts.

T5 ....

(Buyer) T6 ....

T7 ....

(Seller) T8 ....

Subsection (b) of section 20-327i of the general statutes is sSB340repealedandthefollowingissubstitutedinlieuthereof(EffectiveJanuary /1, File2027): No.

222 34 sSB340 File No.

222 repealedandthefollowingissubstitutedinlieuthereof(EffectiveJanuary 1, 2027):

"This real estate transaction or these negotiations were conducted in (buyer'sPublic orAct renter'sNo. native language), which is my native language.

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340 (buyer's or renter's native language), which is my native language.

Subdivision (5) of section 20-329a of the general statutes is repealedandthefollowingisrepealedandthefollowingissubstitutedinlieuthereof(EffectiveJanuary substitutedinlieuthereof(EffectiveJanuary 1, 2027):

Subsection (g) of section 20-329hh of the general statutes is repealedandthefollowingissubstitutedinlieuthereof(EffectiveJanuaryrepealedandthefollowingis substitutedinlieuthereof(EffectiveJanuary 1, 2027):

sSB340(6) /["Real Fileestate No.salesperson"] "Real estate agent" has the same meaning as provided in section 20-311, as amended by this act;

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222 (6) ["Real estate salesperson"] "Real estate agent" has the same meaning as provided in section 20-311, as amended by this act;

Subdivision (2) of subsection (a) of section 20-329bbb of the 2026 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective January 1, 2027):

(2)Public AAct personNo. may simultaneously hold a real estate broker license or real estate[salesperson]agent license under chapter 392andarealestate wholesaler registration issued pursuant to this section.

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340 (2) A person may simultaneously hold a real estate broker license or real estate[salesperson]agent license under chapter 392andarealestate wholesaler registration issued pursuant to this section.

As the seller, the terms of your agreement with a real estate wholesaler may provide the real estate wholesaler with the ability to make decisions to reject or accept an offer to purchase your property without your knowledge or consent during the term of the real estate sSB340wholesale /contract. File No.

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222 wholesale contract.

The assessed value of a property, as assessed by a town, is not the same as the fair market value of the property, and may be significantly lessPublic thanAct theNo. fair market value of the property.

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340 less than the fair market value of the property.

sSB340(A) /How Fileprospective purchasers of your property may have access to Public Act No.

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222340 (A) How prospective purchasers of your property may have access to your property for showings, inspections or for other transactional details;

and (4) any new home construction contractor who enters into one or more new home construction contracts related to the same new home when such contract or contracts inPublic theAct aggregateNo. with respect to that home has a total price for work or services that is less than three thousand five hundred dollars.

sSB34026-23 /41 Fileof 52 Substitute Senate Bill No.

222340 38in sSB340the Fileaggregate No.with respect to that home has a total price for work or services that is less than three thousand five hundred dollars.

222 Sec.

(K) Service performed by an individual as an insurance agent, other than an industrial life insurance agent, and service performed by an individualPublic asAct aNo. real estate [salesperson] agent, if all such service is performed for remuneration solely by way of commission;

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340 individual as a real estate [salesperson] agent, if all such service is performed for remuneration solely by way of commission;

sSB340(c) /Any Filesales No.agent who offers a time share interest created under this section shall be licensed as a real estate broker or real estate [salesperson] agent as set forth in section 20-312, as amended by this act, unlessexempt fromlicensure under chapter 392.The following neednot be licensed pursuant to section 20-312, as amended by this act:

222 39 sSB340 File No.

222 (c) Any sales agent who offers a time share interest created under this section shall be licensed as a real estate broker or real estate [salesperson] agent as set forth in section 20-312, as amended by this act, unlessexempt fromlicensure under chapter 392.The following neednot be licensed pursuant to section 20-312, as amended by this act:

(d) Nothing in sections 42-482 and 42-483 and this section shall be construedPublic toAct applyNo. to any person who holds a real estate [salesperson's] agent's license and who has a claim for payment of a real estate commission or compensation against the real estate broker with whom such real estate [salesperson] agent is affiliated.

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340 construed to apply to any person who holds a real estate [salesperson's] agent's license and who has a claim for payment of a real estate commission or compensation against the real estate broker with whom such real estate [salesperson] agent is affiliated.

sSB340(B) /"Private Filetransfer No.fee" does not include:

222 40 sSB340 File No.

222 (B) "Private transfer fee" does not include:

(iii) Any interest, fee, charge or other amount payable by a borrower to a lender pursuant to a loan secured by a mortgage against real property located in this state, including any fee payable to such lender for consenting to an assumption of such loan or conveyance of such real property subject to such mortgage, any fee or charge payable to such lenderPublic forAct anNo. estoppel letter or certificate issued by such lender, and any shared appreciation interest, profit participation or other consideration payable to the lender in connection with such loan;

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340 lender for an estoppel letter or certificate issued by such lender, and any shared appreciation interest, profit participation or other consideration payable to the lender in connection with such loan;

(v) Any consideration payable to the holder of an option to purchase an interest in real property or the holder of a right of first refusal or first offer to purchase an interest in real property located in this state, for sSB340such /holder's Filewaiver, No.release or nonexercise of such option or right;

222 41 sSB340 File No.

222 such holder's waiver, release or nonexercise of such option or right;

or (ix)Public AnyAct dues,No. assessment, contribution, fee, charge or other amount payable for the purchase or transfer of a club membership related to real property located in this state.

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340 (ix) Any dues, assessment, contribution, fee, charge or other amount payable for the purchase or transfer of a club membership related to real property located in this state.

sSB340(a) /No Filemortgage No.broker or lender, as defined in subdivision (5) of section 49-31d, or any person affiliated with such mortgage broker or lender shall receive a fee, commission or other form of referral fee for the referral of any person to (1) a real estate broker, real estate [salesperson] agent, as defined in section 20-311, as amended by this act, or any person affiliated with such broker or [salesperson] agent or any person engaged in the real estate business, as defined in [said] section 20-311, as amended by this act, or (2) an attorney-at-law admitted to practice within this state or any person affiliated with such attorney.

222 42 sSB340 File No.

222 (a) No mortgage broker or lender, as defined in subdivision (5) of section 49-31d, or any person affiliated with such mortgage broker or lender shall receive a fee, commission or other form of referral fee for the referral of any person to (1) a real estate broker, real estate [salesperson] agent, as defined in section 20-311, as amended by this act, or any person affiliated with such broker or [salesperson] agent or any person engaged in the real estate business, as defined in [said] section 20-311, as amended by this act, or (2) an attorney-at-law admitted to practice within this state or any person affiliated with such attorney.

(a) No attorney-at-law admitted to practice within this state or any person affiliated with such attorney may receive a fee, commission or other form of referral fee for the referral of any person to (1) a real estate broker or real estate [salesperson] agent, as defined in section 20-311, as amended by this act, or any person affiliated with such broker or [salesperson] agent or any person engaged in the real estate business, as definedPublic inAct [said]No. section 20-311, as amended by this act, or (2) any mortgage broker or mortgage lender, as defined in subdivision (5) of section 49-31d, or any person affiliated with such mortgage broker or lender.

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340 defined in [said] section 20-311, as amended by this act, or (2) any mortgage broker or mortgage lender, as defined in subdivision (5) of section 49-31d, or any person affiliated with such mortgage broker or lender.

(NEW) (Effective October 1, 2026) (a) AnyAs realused estate broker or real estate agent, as defined in section 20-311 of the general statutes, as amended by this act,section: representing a seller or landlord in a transaction involving the seller's or landlord's residential property containing one to four dwelling units shall, except as provided in subsection (b) of this section, adhere to the following:

(1) Furnish"Public marketing" means any promotion or distribution of information through any medium that is reasonably accessible to prospective buyers or tenants, real estate licensees representingand prospectivebuyersortenantswithanypropertyinformationauthorizedthe general public that provides open and nondiscriminatory access to available residential real property for disclosuresale byor lease, such as (A) the sellerdisplay of real estate listings on a publicly accessible Internet web site or landlord;digital platform;

(2)(B) respondpromotion tothrough or provide a contact for any inquiriessocial frommedia licenseesplatform; representing prospective buyers or tenants;

(3)(C) makedistributionthroughelectronicmailto themore propertythanonerecipient availableat foratime; showing in person or virtuallytoprospectivebuyersortenantsunlessallvisitstotheproperty sSB340 / File No.

222(D) 43signage sSB340directing Fileconsumers No.to a real estate broker;

222(E) arepublication contractuallyon a real estate broker's or brokerage Internet web site, application or other digital platform, or inclusion on a private network established among not authorizedless bythan thetwo sellerreal estate brokerage agencies or landlord;franchisees;

and (4) publicly advertise or market(F) thedigital seller'sadvertisement orintended landlord's property for salepublic ordistribution. lease, unless the seller or landlord completes and signs the Seller/Landlord Opt-Out of Real Estate Public Marketing form.

For(2) purposes"Multiple oflisting thisservice" section,means public marketing shall include publication through any mediumcooperative that is reasonably accessible to the general public and real estate licensees, that provides open and nondiscriminatory access to property information including,exchange butsystem, notoperated limitedby, to,or aon public-behalf facingof, Internetlicensed web site, an Internet real estate portal,brokers, orthat: a multiple listing service facilitating distribution of property information to public Internet web sites.

Any(A) Aggregates and disseminates information concerning real estate brokerlistings oramong participating real estate agentbrokers marketingon a propertythroughprivateorbroad limited-accesschannelsshallconcurrentlyand marketnondiscriminatory suchbasis, propertyand publiclyis not limited to promote(i) transparencya andsingle ensurebrokerage openor andaffiliated nondiscriminatorygroup accessof tobrokerages, propertyor information(ii) foran allexclusionary prospectivegroup buyersof orparticipating tenants.real estate brokers;

(b)(B) Theis sellergoverned orby landlordstandardized ofrules; a residential property containing one to four dwelling units may identify in a real estate listing agreement the name of any licensee, prospective buyer or prospective tenant that the seller or landlord does not wish to work with or allow to view the residential property, provided therestriction complies with all state and federal laws.

(c)(C) Aprovides Seller/Landlordfor Opt-Outthe distribution of Realsuch Estatereal Publicestate Marketinglisting forminformation shallto bepublicly executedaccessible uponreal theestate requestmarketplaces ofand aInternet sellerweb orsites landlordcontemporaneously ofwith, aand residentialnot propertylater containingthan, onethe tofirst fourinstance dwellingof units.public marketing of any such real estate listing;

Theand Seller/Landlord(D) Opt-Outis ofnot Realestablished Estateor Publicoperated Marketingfor formthe shallpurpose haveof typelimiting sizethe novisibility smalleror thandistribution ten-pointof typereal andestate belistings. contained on one page in the following form:

"SELLERPublic OPT-OUTAct OFNo. REAL ESTATE PUBLIC MARKETING By using internet platforms, websites and multiple listing services, sellers can reach a broad audience of potential buyers for their property.

This26-23 form47 is intended to ensure informed consent by explaining how marketing restrictions may impact a property's exposure, level of sSB34052 /Substitute FileSenate Bill No.

222340 44(3) sSB340"Real Fileestate No.agent", "real estate broker" and "residential real property" have the same meanings as provided in section 20-311 of the general statutes, as amended by this act.

222(b) competitionAny andreal ultimatelyestate thebroker finalor salereal priceestate inagent representing a residentialseller or landlord in a real estate transaction.transaction involving such seller's or landlord's residential property shall:

As(1) theFurnish Sellerall ofproperty theinformation propertyauthorized locatedfor atdisclosure ….,by Isuch acknowledgeseller thator Ilandlord, haveand read,any understandother andinformation consentor material facts such real estate broker or real estate agent representing such seller or landlord is obligated to thedisclose followingto (initialany each):prospective buyer or tenant on an equal and nondiscriminatory basis, through a real estate broker or real estate agent, if such prospective buyer or tenant is represented, or directly, if such prospective buyer or tenant is unrepresented;

….(2) respond to inquiries from any prospective buyer or tenant on an equal and nondiscriminatory basis, through a real estate broker or real estate agent if such prospective buyer or tenant is represented, or directly, if such prospective buyer or tenant is unrepresented, or designate a specific individual responsible for responses to any such inquiry;

1.and (3) make the residential property available for in-person or virtual showings to any prospective buyer or tenant on an equal and nondiscriminatory basis, through a real estate broker or real estate agent if such prospective buyer or tenant is represented, or directly, if such prospective buyer or tenant is unrepresented.

Prospective(c) buyers(1) mayExcept notas beprovided awarein thatsubsection (d) of this section, any real estate broker or real estate agent representing a seller or landlord in a real estate transaction involving such seller's or landlord's residential property shall, concurrently with, or prior to, the Seller'sfirst instance of public marketing, make such residential property available to the general public on a fair, nondiscriminatory and publicly accessible listing platform that is availablereasonably fordesigned sale.to generate broad public exposure to prospective buyers or tenants.

….Such requirement may be satisfied Public Act No.

2.26-23 48 of 52 Substitute Senate Bill No.

Reducing340 thethrough exposurean ofactive thelisting propertyon may(A) limitat theleast numberone ofmultiple offerstolisting purchaseservice theproperty,mayoperating resultin inalowerthis salepricestate, andmay(B) negativelya affectpublicly theaccessible Seller'sInternet abilitylisting toplatform, sellor the(C) propertyany withother theelectronic mostlisting favorableplatform termsthat provides unrestricted public access to thelisting Seller.information.

….(2) No such real estate broker or real estate agent shall satisfy the requirements of subparagraph (B) or (C) of subdivision (1) of this subsection through the use of any listing platform, if access to such listing platform is limited or the platform (A) requires an invitation, password or other credentials to access such listing platform, or (B) is designed primarily for internal use by a single brokerage or affiliated group.

3.(d) Nothing in this section shall be construed to:

The(1) SellerRequire acknowledgesa thatseller excluding or limitinglandlord theof abilityresidential forproperty prospectiveto buyerspublicly tomarket tourand thesubmit such residential property mayfor notactive belisting inon theat Seller'sleast bestone financialmultiple interest.listing services operating in this state;

….(2) prohibit the use of private listings, pocket listings or office-exclusive listings, provided any such listing is not publicly marketed;

(Seller)(3) ….restrict a seller of residential property from directing areal estate brokerorrealestate agent tomarket suchproperty privately or to a limited groupofprospectivebuyers,providedany such direction complies with all state and federal laws;

Date(4) ….restrict an individual agent at a brokerage to market to another agent at a different brokerage when marketing a private listing or pocket listing, provided any such private listing or pocket listing is not publicly marketed;

(Authorizedor Representative)(5) ….restrict the real estate broker or real estate agent representing the seller or landlord of residential property in a real estate transaction involving such seller's or landlord's residential property from furnishing property information to other real estate brokers or real estate agents controlled and supervised by the same supervising licensee in the same office.

Date(e) ….A Seller/Landlord Opt-Out of Real Estate Public Marketing form shall be executed at such time the listing agreement is executed upon the request of a seller or landlord of residential property to opt-out of Public Act No.

(Brokerage26-23 Name)49 LANDLORD OPT-OUT OF REAL ESTATE PUBLIC MARKETING By using internet platforms, websites and multiple listing services, sellers or landlords can reach a broad audience of potential52 buyersSubstitute orSenate tenantsBill forNo. their property.

This340 formpublic ismarketing. intended to ensure informed consent by explaining how marketing restrictions may impact a property's exposure, level of competition and ultimately the final lease price in a residential real estate transaction.

AsThe theSeller/Landlord LandlordOpt-Out of theReal propertyEstate locatedPublic atMarketing ….,form Ishall acknowledgebe thatprinted Iin havenot read,less understandthan ten-point type and consentbe tocontained in the following (initialform: each):

…."SELLER OPT-OUT OF REAL ESTATE PUBLIC MARKETING Public marketing of residential property through multiple listing services, Internet portals and web sites is intended to maximize exposure to prospective buyers and promote competition in the sale of such property.

1.This form documents the Seller's informed decision to decline such public marketing and the potential consequences of doing so.

Prospective(Seller) tenants. may not be aware that the Landlord's sSB340 / File No.

222(Property 45Address) sSB340By Filesigning No.below, the Seller acknowledges and agrees to the following (initial each):

222(1) The Seller understands that the Seller's property ismay availablenot forbe salevisible orto lease.a broad range of prospective buyers and real estate licensees representing prospective buyers of the Seller's property.

….(2) The Seller understands that foregoing public marketing may reduce competition for the property, may result in fewer offers to purchase the Seller's property and may adversely impact the final sale price and terms of the sale of the Seller's property.

2.(3) The Seller understands that limiting or restricting access to the property, including showings or tours, may further reduce buyer interest and may not be in the Seller's best financial interest.

Reducing(4) theThe exposureSeller ofis themaking propertythis maydecision limitknowingly theand numbervoluntarily, of offers to lease the property, may result in a lower lease price and mayhas negativelyhad affect the Landlord'sopportunity ability to leaseconsult thewith propertya withreal theestate mostbroker favorableor termsreal toPublic theAct Landlord.No.

….26-23 50 of 52 Substitute Senate Bill No.

3.340 estate agent and Seller's Attorney regarding the potential impacts of this decision.

The(Seller) Landlord. acknowledges that excluding or limiting the ability for prospective tenants to tour the property may not be in the Landlord's best financial interest.

….Date .

(Landlord)(Authorized ….Representative) .

Date …..

(Authorized(Brokerage Representative)Name) ….LANDLORD OPT-OUT OF REAL ESTATE PUBLIC MARKETING Public marketing of residential property through multiple listing services, Internet portals and web sites is intended to maximize exposure to prospective tenants and promote competition in the rental of such property.

DateThis ….form documents the Landlord's informed decision to decline such public marketing and the potential consequences of doing so.

(Brokerage(Landlord Name)"Name) (d). Any real estate broker or real estate agent who violates any provision of this section shall be subject to the actions and penalties set forth in section 20-320 of the general statutes.

This(Property actAddress) shallBy takesigning effectbelow, asthe followsLandlord acknowledges and shallagrees amendto the following sections:(initial each):

Section(1) 1The OctoberLandlord 1,understands 2026that 20-319the Sec.Landlord's property may not be visible to a broad range of prospective tenants and real estate licensees representing prospective tenants of the Landlord's property.

2(2) JanuaryThe 1,Landlord 2027understands 8-169aa(a)(2)that Sec.foregoing public marketing may reduce competition for the property, may result in fewer offers to rent the Landlord's property and may adversely impact the final rent price and terms of the sale of the Landlord's property.

3(3) JanuaryThe 1,Landlord 2027understands 10a-123(b)that Sec.limiting or restricting access to the property, including showings or tours, may further reduce tenant Public Act No.

426-23 January51 1,of 202752 20-311Substitute Sec.Senate Bill No.

5340 Januaryinterest 1,and 2027may 20-311a(b)not Sec.be in the Landlord's best financial interest.

6(4) JanuaryThe 1,Landlord 2027is 20-312(e)making Sec.this decision knowingly and voluntarily, and has had the opportunity to consult with a real estate broker or real estate agent and Landlord's Attorney regarding the potential impacts of this decision.

7(Landlord) January. 1, 2027 20-312a Sec.

8Date January. 1, 2027 20-312c(b) Sec.

9(Authorized JanuaryRepresentative) 1,. 2027 20-314 Sec.

10Date January. 1, 2027 20-319a(a) Sec.

11(Brokerage JanuaryName)" 1,(f) 2027Any 20-324lreal Sec.estate broker or real estate agent who violates any provision of this section shall be subject to the actions and penalties set forth in section 20-320 of the general statutes.

12Governor's JanuaryAction: 1, 2027 20-325a(q) Sec.

13Approved JanuaryMay 1,27, 20272026 20-325c(b)Public Sec.Act No.

1426-23 January52 1,of 202752 20-325l Sec.

15 January 1, 2027 20-327b Sec.

16 January 1, 2027 20-327i(b) sSB340 / File No.

222 46 sSB340 File No.

222 Sec.

17 January 1, 2027 20-329a(5) Sec.

18 January 1, 2027 20-329hh(g) Sec.

19 January 1, 2027 20-329aaa(6) Sec.

20 January 1, 2027 20-329bbb(a)(2) January 1, 2027 Sec.

21 20-329eee(b)(4)(A) Sec.

22 January 1, 2027 20-417j(a) Sec.

23 January 1, 2027 20-526 Sec.

24 January 1, 2027 31-222(a)(5)(K) Sec.

25 January 1, 2027 42-103gg(c) Sec.

26 January 1, 2027 42-103bbb(c)(1) Sec.

27 January 1, 2027 42-484(d) January 1, 2027 Sec.

28 47-17a(a)(2)(B) Sec.

29 January 1, 2027 47-100 Sec.

30 January 1, 2027 49-7f(a) Sec.

31 January 1, 2027 51-87b(a) Sec.

32 October 1, 2026 New section INS Joint Favorable Subst.

sSB340 / File No.

222 47 sSB340 File No.

222 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.

In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.

Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note State Impact:

Agency Affected Fund-Effect FY 27 $ FY 28 $ Resources of the General Fund GF - Potential See Below See Below Revenue Gain Note:

GF=General Fund Municipal Impact:

None Explanation The bill creates a $5,000 fine for certain violations pertaining to one- to-four-unit residential property transactions resulting in a potential revenue gain to the General Fund to the extent violations occur.

The bill also makes various changes to real estate statutes resulting in no fiscal impact to the state.

The Out Years The annualized ongoing fiscal impact identified above would continue into the future subject to the number of violations.

sSB340 / File No.

222 48 sSB340 File No.

222 OLR Bill Analysis (REVISED) sSB 340 AN ACT CONCERNING CONTINUING REAL ESTATE EDUCATION REQUIREMENTS, PUBLIC MARKETING OF CERTAIN REAL ESTATE LISTINGS AND REVISING THE TITLE OF A REAL ESTATE SALESPERSON TO A REAL ESTATE AGENT.

SUMMARY This bill makes various changes to statutes related to real estate licensees.

Among other things, the bill:

1.

establishes a two-hour minimum for each Department of Consumer Protection (DCP)-approved continuing education course for real estate licensees (§ 1);

2.

replaces the term “real estate salesperson” with the term “real estate agent” throughout the statutes on licensure and other related statutes (§§ 2-31);

and 3.

establishes requirements for real estate brokers and agents representing sellers or landlords in transactions pertaining to one- to four-unit residential properties, including a public marketing opt-out process, and subjects violators to license suspension or revocation, fines up to $5,000 per violation, or both (§ 32).

Lastly, it makes minor, technical, and conforming changes.

EFFECTIVE DATE:

October 1, 2026, except the sections with the terminology change are effective January 1, 2027 (§§ 2-31).

REAL ESTATE LICENSEES Continuing Education sSB340 / File No.

222 49 sSB340 File No.

222 By law, real estate licensees must satisfy continuing education requirements by taking DCP-approved courses, a written examination, or equivalent education or study.

Under existing law, the DCP-approved courses must be a total of at least 12 hours of classroom study in current real estate practices and licensinglaws,includingthoserelatedtocommoninterestcommunities.

The bill specifically requires that the DCP-approved courses used to satisfy the continuing education requirement be at least two hours per course.

Team Name The law requires real estate teams to register with DCP and specifies the information they must include in the initial and subsequent renewal registrations, such as a “team name.” Under current law, unchanged by the bill, the team name must include the full name of at least one of its licensed real estate brokers or real estate salespersons (“agent” under the bill) or the full name of the team’s supervising licensee.

ONE- TO FOUR-UNIT RESIDENTIAL PROPERTY TRANSACTIONS The bill (1) establishes specific requirements for real estate brokers or agents representing sellers and landlords in transactions involving one- to four-unit residential properties;

(2) creates an exception if the seller or landlord specifically excludes someone in the listing agreement;

and (3) subjects violators, after a hearing, to license suspension or revocation, fines up to $5,000 per violation, or both.

(These are the same penalties as under existing law for various real estate business-related violations.) Requirements for Licensees Representing the Seller or Landlord Under the bill, in any real estate transaction that involves a one- to four-unit residential property, the real estate broker or agent representing the seller or landlord must do the following:

1.

disclosetotheprospectivebuyer’sortenant’srepresentative(real sSB340 / File No.

222 50 sSB340 File No.

222 estate licensee) any property information the seller or landlord authorized;

2.

give their contact information to the buyer’s or tenant’s representative for inquiries and respond to them;

3.

make the property available for showing in person or virtually to prospective buyers or tenants unless all visits to the property are contractually not authorized by the seller or landlord;

and 4.

publicly advertise or market the seller’s or landlord’s property for sale or lease, unless the seller or landlord completes and signs the Seller/Landlord Opt-Out of Real Estate Public Marketing form (see below).

As discussed above, the bill allows the seller or landlord of these properties to identify in a real estate listing agreement any licensees or prospective buyers or tenants he or she does not wish to work with or allow to view the property, but the restriction must comply with state and federal law.

Public Marketing Under thebill, “public marketing” includes publication that provides open and nondiscriminatory access to property information through any medium that is reasonably accessible to the public and real estate licensees.

Thisincludes apublic-facing Internet website, anInternet real estate portal, or a multiple listing service facilitating distribution of property information to public Internet web sites.

To promote transparency and ensure all prospective buyers or tenants have open and nondiscriminatory access to property information, the bill requires real estate brokers or agents marketing a property through private or limited-access channels to concurrently market the property publicly.

Public Marketing Opt-Out Form Under the bill, if the seller or landlord of these properties requests it, sSB340 / File No.

222 51 sSB340 File No.

222 their real estate broker or agent must execute a Seller/Landlord Opt- Out of Real Estate Public Marketing form, a one-page document with at least 10-point type size in the following form:

“SELLER OPT-OUT OF REAL ESTATE PUBLIC MARKETING By using internet platforms, websites, and multiple listing services, sellers can reach a broad audience of potential buyers for their property.

This form is intended to ensure informed consent by explaining how marketing restrictions may impact a property’s exposure, level of competition,andultimately thefinalsaleprice inaresidentialrealestate transaction.

As the Seller of the property located at …., I acknowledge that I have read, understand, and consent to the following (initial each):

….

1.

Prospective buyers may not be aware that the Seller’s property is available for sale.

….

2.

Reducing the exposure of the property may limit the number of offers to purchase the property, may result in a lower sale price, and may negatively affect the Seller’s ability to sell the property with the most favorable terms to the Seller.

….

3.

The Seller acknowledges that excluding or limiting the ability for prospective buyers to tour the property may not be in the Seller’s best financial interest.

….

(Seller) ….

Date ….

(Authorized Representative) ….

Date ….

(Brokerage Name) LANDLORD OPT-OUT OF REAL ESTATE PUBLIC MARKETING By using internet platforms, websites, and multiple listing services, sellers or landlords can reach a broad audience of potential buyers or sSB340 / File No.

222 52 sSB340 File No.

222 tenants for their property.

This form is intended to ensure informed consent by explaining how marketing restrictions may impact a property’s exposure, level of competition, and ultimately the final lease price in a residential real estate transaction.

As the Landlord of the property located at …., I acknowledge that I have read, understand, and consent to the following (initial each):

….

1.

Prospective tenants may not be aware that the Landlord’s property is available for sale or lease.

….

2.

Reducing the exposure of the property may limit the number of offers to lease the property, may result in a lower lease price, and may negatively affect the Landlord’s ability to lease the property with the most favorable terms to the Landlord.

….

3.

The Landlord acknowledges that excluding or limiting the ability for prospective tenants to tour the property may not be in the Landlord’s best financial interest.

….

(Landlord) ….

Date ….

(Authorized Representative) ….

Date ….

(Brokerage Name)” COMMITTEE ACTION Insurance and Real Estate Committee Joint Favorable Substitute Yea 13 Nay 0 (03/12/2026) sSB340 / File No.

222 53