Buyers and sellers are required to Cosign an agency representation agreement to effect an agency relationship or a disclosure form acknowledging that they understand which party the real estate agent represents in a transaction.
The Agency Relationship
The agency relationship is based on one person representing the interests of another person. Real Estate agents are licensed by the state to represent a person in the purchase or sale of a property.
The type of relationship formed between the agent and the client is called a fiduciary relationship. A fiduciary relationship is one based on trust because the agent owes the following duties to the client ...
Reasonable Skill & Care
The responsibility of the real estate agent is defined by the state law relating to agents, the REALTORS« Code of Ethics and general principles of agency law. Connecticut offers four types of agency relationships ...