State Codes and Statutes

Statutes > Connecticut > Title20 > Chap400g > Sec20-526

      Sec. 20-526. Exceptions. The provisions of sections 20-500 to 20-528, inclusive, concerning the certification, licensing, limited licensing 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 (2) any licensed real estate broker or real estate salesperson who estimates the value of real estate as part of a market analysis performed for the owner of the real estate or a designee of the owner, on such terms as may be agreed upon between such owner or the owner's designee and the real estate broker or real estate salesperson, for the purpose of (A) a prospective listing or sale of such real estate, (B) providing information to the seller or landlord under a listing agreement, or (C) providing information to a prospective buyer or tenant under a buyer or tenant agency agreement, provided such estimate of value shall not be referred to or be construed as an appraisal. If such owner executes a listing contract with the real estate broker or real estate salesperson who so estimated the value of the real estate for the sale of the real estate and such real estate contains any building or other structure, occupied or intended to be occupied by no more than four families, then such owner shall be credited against any compensation the owner pays on account of such listing contract for any fee paid by the owner for such estimate of value.

      (P.A. 93-354, S. 51, 54; P.A. 94-36, S. 41, 42; P.A. 96-200, S. 23; P.A. 98-123; P.A. 00-192, S. 75, 102; P.A. 03-101, S. 1.)

      History: P.A. 93-354 effective in accordance with Sec. 20-528; P.A. 94-36 changed effective date of P.A. 93-354 but without affecting this section; P.A. 96-200 substituted "salesperson" for "salesman"; P.A. 98-123 amended Subdiv. (2) by designating existing language as Subpara. (A) and adding reference to sale of real estate, adding new Subpara. (B) re providing information to the seller or landlord, and adding new Subpara. (C) re providing information to a prospective buyer or tenant P.A. 00-192 replaced reference to "tenured licensing" with reference to "limited licensing", effective May 26, 2000; P.A. 03-101 amended Subdiv. (2) to include the owner of the real estate or designee, on terms agreed between the owner or designee and broker or salesperson, and to add provision requiring owner to be credited for any fee paid on account of a listing contract for an estimate of value on real estate that contains a building or other structure occupied or intended to be occupied by no more than four families.