Loading chat...

CT HB05375

Bill

Status

Introduced

2/27/2020

Primary Sponsor

Insurance and Real Estate Committee

Click for details

Origin

House of Representatives

2020 General Assembly

AI Summary

  • Creates two different licensing pathways for real estate brokers depending on application date: one for applicants before January 1, 2021, and a more stringent one for applicants on or after January 1, 2021.

  • For applicants after January 1, 2021, requires 1,500 hours of active engagement as a licensed salesperson over the three years prior to application (instead of just two years), with supervisor certification of hours worked.

  • Requires applicants after January 1, 2021, to have represented at least four closed real estate transactions within three years preceding application, a new requirement not previously mandated.

  • Maintains course requirements for both pathways: 60 hours in real estate principles and practices, 15 hours in legal compliance, 15 hours in brokerage principles, and two 15-hour elective courses.

  • Allows waiver of elective courses if applicant has completed at least 20 real estate transactions within five years before application; requires supervising brokers to certify applicant records within 90 days of receipt.

Legislative Description

An Act Concerning Licensing Requirements For Real Estate Brokers.

Last Action

Joint Favorable

3/10/2020

Committee Referrals

Insurance and Real Estate2/27/2020

Full Bill Text

No bill text available