CT SB00780

Repeals and replaces Section 20-526 of the general statutes to exempt licensed real estate brokers and salespersons from appraiser certification requirements when estimating the probable selling or leasing price of real estate.

Allows real estate brokers and salespersons to estimate probable selling or leasing prices for a fee without being certified appraisers, provided they do not hold themselves out as certified or provisional appraisers.

Permits brokers and salespersons to perform comparative market analyses and provide opinions on probable selling or leasing prices in the ordinary course of business, with such analyses explicitly excluded from being construed as appraisals.

Directs the Commissioner of Consumer Protection to adopt regulations by October 1, 2017 specifying the required contents of broker price opinions, analyses, and estimates.

Becomes effective October 1, 2017.