| 17 | 17 | | |
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| 18 | 18 | | Referred to Committee on INSURANCE AND REAL ESTATE |
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| 19 | 19 | | |
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| 20 | 20 | | Introduced by: |
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| 21 | 21 | | |
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| 22 | 22 | | (INS) |
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| 23 | 23 | | |
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| 24 | 24 | | AN ACT CONCERNING BROKER PRICE OPINIONS. |
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| 25 | 25 | | |
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| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Assembly convened: |
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| 27 | 27 | | |
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| 28 | 28 | | Section 1. Section 20-526 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015): |
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| 29 | 29 | | |
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| 30 | 30 | | 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 (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.] |
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| 31 | 31 | | |
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| 32 | 32 | | Sec. 2. (NEW) (Effective October 1, 2015) 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 value 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, provide a price opinion or provide an estimate of the value of real estate, provided such analysis, opinion or estimate shall not be referred to or be construed as an appraisal. |
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| 33 | 33 | | |
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| 34 | 34 | | |
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| 35 | 35 | | |
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| 36 | 36 | | |
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| 37 | 37 | | This act shall take effect as follows and shall amend the following sections: |
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| 38 | 38 | | Section 1 October 1, 2015 20-526 |
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| 39 | 39 | | Sec. 2 October 1, 2015 New section |
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| 40 | 40 | | |
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| 41 | 41 | | This act shall take effect as follows and shall amend the following sections: |
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| 42 | 42 | | |
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| 43 | 43 | | Section 1 |
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| 44 | 44 | | |
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| 45 | 45 | | October 1, 2015 |
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| 46 | 46 | | |
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| 47 | 47 | | 20-526 |
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| 48 | 48 | | |
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| 49 | 49 | | Sec. 2 |
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| 50 | 50 | | |
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| 51 | 51 | | October 1, 2015 |
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| 52 | 52 | | |
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| 53 | 53 | | New section |
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| 54 | 54 | | |
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