Substitute Senate Bill No. 201, also known as Public Act No. 24-101, aims to regulate real estate listing agreements in Connecticut by defining what constitutes an unfair real estate listing agreement and prohibiting such agreements from July 1, 2024. An unfair agreement is one that does not require action within a year, binds future owners without consent, or creates a lien without proper notice and consent. The bill requires real estate listing providers to record or rerecord agreements with the town clerk by July 31, 2024, and failure to do so will make the agreements void. It also allows for legal action against providers who engage in unfair practices, including the recovery of damages and costs.

The bill further amends consumer protection laws, allowing the commissioner to accept an assurance of voluntary compliance from those accused of violating these laws, which may include restitution and cover investigative costs. This assurance is not an admission of guilt, and the commissioner can reopen cases if necessary. The bill also strengthens enforcement by allowing the commissioner or Attorney General to seek court orders for immediate relief without proving public interest or injury, enforce compliance, and impose civil penalties of up to five thousand dollars for each wilful violation, including breaches of voluntary compliance assurances.

Statutes affected:
Raised Bill: 20-417i, 42-110j
GL Joint Favorable Substitute: 20-417a, 20-417i, 42-110j
File No. 156: 20-417a, 20-417i, 42-110j
JUD Joint Favorable: 20-417a, 20-417i, 42-110j
Public Act No. 24-101: 42-110j