AN ACT CONCERNING BROKER PRICE OPINIONS.
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SB 780 — AN ACT CONCERNING BROKER PRICE OPINIONS.
Last action — REF. BY SEN. TO COMM. ON Insurance and Real Estate
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill died with 2017 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Bill Text
What changed in the latest version
7 added · 11 removedPlain-language change summary
The amended bill clarifies that real estate brokers and salespersons can estimate the probable selling or leasing prices of real estate without being licensed appraisers, as long as they do not present themselves as such. It also removes specific details regarding the context in which these estimates can be provided, making the language more general. This change matters because it expands the ability of brokers and salespersons to offer price estimates for a fee while ensuring these estimates are not considered appraisals, which may impact how market analyses are conducted.
General Assembly RaisedSubstitute Bill No.
780 January Session, 2017 LCO*_____SB00780BA____030817____* No.AN ACT CONCERNING BROKER PRICE OPINIONS.
3433 *03433_______BA_* Referred to Committee on BANKING Introduced by:
(BA) AN ACT CONCERNING BROKER PRICE OPINIONS.
The provisions of sections 20-500 to 20-528, inclusive, concerning the certification or provisional licensing of real estate appraisers shall not apply to (1) any person under contract with a municipality who performs a revaluation of real estate for assessment purposes pursuant to section 12-62, [and] or (2) any licensed real estate broker or real estate salesperson who estimates the value[value] probable selling price or leasing price of real estate.
(NEW) (Effective October 1, 2017) (a) Any real estate broker or real estate salesperson, who is not a certified appraiser or licensed provisional appraiser pursuant to sections 20-500 to 20-528, inclusive, of the general statutes, may (1) estimate the valueprobable selling price or leasing price of real estate for a fee or other valuable consideration, provided such broker or salesperson does not hold himself or herself out as a certified appraiser or licensed provisional appraiser, and (2) in the ordinary course of business, perform a comparative market analysis,analysis or provide aan price opinion or provide an estimate of the valueprobable selling price or leasing price of real estate, provided such analysis, opinion or estimate shall not be referred to or be construed as an appraisal.
(b) The Commissioner of Consumer Protection shall adopt regulations, in accordance with chapter 54 of the general statutes, to carry out the provisions of this section.
Such regulations shall include, but need not be limited to, the required contents of the analysis, opinion or estimate described in subsection (a) of this section.
2 October 1, 2017 New section StatementBA ofJoint Purpose:Favorable Subst.
To permit real estate brokers and real estate salespersons to estimate the value of real estate for a fee or other valuable consideration and to perform comparative market analyses and provide price opinions or estimates of the value of real estate.
[Proposed deletions are enclosed in brackets.
Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
View plain text versions (2)
- R01 html
- R00 Current html
Action History
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REF. BY SEN. TO COMM. ON Insurance and Real Estate
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FILE NO. 152
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SENATE CALENDAR NUMBER 101
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FAV. RPT., TAB. FOR CAL., SEN.
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RPTD. OUT OF LCO
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REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/21/17
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FILED WITH LCO
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Joint Favorable Substitute
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PUBLIC HEARING 0214
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REF. TO JOINT COMM. ON Banking
Sponsors
- Banking Committee · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 186 not signed on
Sponsors (1)
- Banking Committee
Co-sponsors (0)
None.
Not signed on (186)
186 members have not signed on to this bill.
Show all 186 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- Who sponsors SB 780?
- SB 780 is sponsored by Banking Committee.
- What is the current status of SB 780?
- This bill died with 2017 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 780?
- Track SB 780 free on One Click Politics — get push/email alerts when it moves.
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