Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 2250 - Missouri Real Estate Commission
Chapter 8 - Business Conduct and Practice
Section 20 CSR 2250-8.095 - Brokerage Relationship Disclosure
Universal Citation: 20 MO Code of State Regs 2250-8.095
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: The commission is proposing this rule in order to comply with provisions in HB 1601 of the 89th General Assembly and HB 866 of the 90th General Assembly.
(1) Licensees acting with or without a written agreement for brokerage services pursuant to sections 339.710 to 339.860, RSMo, are required to disclose such relationships in the following instances and manner:
(A) Seller's/Landlord's Agent or Subagent.
1. A licensee acting as an agent or sub-agent
of the seller/landlord shall disclose this agency status no later than the
first showing to a buyer/tenant who is not represented by or working with
another licensee pursuant to sections
339.710 to
339.860, RSMo.
2. If the buyer/tenant is represented by
another licensee, the disclosure may be made to the buyer/tenant or their agent
upon first contact with the buyer/tenant or their agent, whichever occurs
first.
3. If the
seller's/landlord's agent is cooperating with another licensee under a written
agreement of subagency or through a unilateral offer of subagency, the
disclosure made by the subagent shall serve as the disclosure of the
seller's/landlord's agent.
4. In a
cooperative sale/lease between a seller's/landlord's agent and a licensee
working with a buyer/tenant as a transaction broker, the seller's/landlord's
agent shall make disclosure of this agency status to the buyer/tenant and also
to the licensee assisting the buyer/tenant upon first contact with each
respective party.
5. In a
contemplated real estate transaction where no contact occurs with the
buyer/tenant, their agent, or transaction broker, the seller's/landlord's agent
shall disclose this agency status to the buyer's/tenant's agent or transaction
broker when first contact is established pursuant to paragraph (B)5. or (E)5.
of this section.
6. If the
landlord's agent is conducting property management pursuant to
20 CSR
2250-8.200, the unlicensed office personnel may, in
their performance of the duties enumerated in section 339.010.5(5)(a)-(e),
RSMo, make the disclosure described herein on behalf of the landlord's
agent;
(B)
Buyer's/Tenant's Agent or Subagent.
1. A
licensee acting as an agent or sub-agent of the buyer/tenant shall disclose
this agency status no later than the first showing to a seller/landlord who is
not represented by or working with another licensee pursuant to sections
339.710 to
339.860, RSMo.
2. If the seller/landlord is represented by
another licensee, the disclosure may be made to the seller/landlord or their
agent upon first contact with the seller/landlord or their agent, whichever
occurs first.
3. If the
buyer's/tenant's agent is cooperating with another licensee under a written
agreement of subagency or through a unilateral offer of subagency, the
disclosure made by the subagent shall serve as the disclosure of the
buyer's/tenant's agent.
4. In a
cooperative sale/lease between a buyer's/tenant's agent and a licensee working
with a seller/landlord as a transaction broker, the buyer's/tenant's agent
shall make disclosure of this agency status to the seller/landlord and also to
the licensee assisting the seller/landlord upon first contact with each
respective party.
5. In a
contemplated real estate transaction where no contact occurs with the
seller/landlord, their agent, or transaction broker, the buyer's/tenant's agent
shall establish first contact with the seller's/landlord's agent or transaction
broker and disclose this agency status prior to the presentation of an offer to
exchange, purchase, rent, or lease.
6. If the landlord's agent or transaction
broker is conducting property management pursuant to
20 CSR
2250-8.200, the unlicensed office personnel may, in
their performance of the duties enumerated in section 339.010.5(5)(a)-(e),
RSMo, receive the disclosure described herein on behalf of the landlord's agent
or transaction broker;
(C) Dual Agent.
1. A licensee acting as a dual agent in a
real estate transaction shall disclose this agency status immediately upon its
occurrence to all parties of a real estate transaction.
2. In a non-designated agency transaction,
the disclosure made by the licensee procuring the buyer/tenant (selling
licensee) shall serve as disclosure for the listing licensee and designated
broker.
3. A designated broker who
becomes a dual agent and does not personally represent any of the parties in a
designated agency transaction shall not be required to make disclosure of this
agency status provided written consent was given by all parties to the real
estate transaction pursuant to 339.750.1, RSMo;
(D) Transaction Broker Assisting
Seller/Landlord.
1. A licensee assisting a
seller/landlord as a transaction broker who has not been deemed a transaction
broker pursuant to section
339.710(19)(c),
RSMo, shall disclose this brokerage relationship no later than the first
showing to buyer/tenant who is not represented by or working with another
licensee pursuant to sections
339.710 to
339.860, RSMo.
2. If the buyer/tenant is represented by
another licensee, this disclosure may be made to the buyer/tenant or their
agent upon first contact with the buyer/tenant or their agent, whichever occurs
first.
3. If the licensee has not
entered into a written transaction brokerage agreement with the
seller/landlord, the licensee shall disclose the licensee's transaction broker
status to the seller/landlord upon establishing such relationship with the
seller/landlord.
4. In a
cooperative sale between a seller's/landlord's transaction broker and a
licensee working with a buyer/tenant as a transaction broker, the
seller's/landlord's transaction broker shall make disclosure of this brokerage
relationship status to the buyer/tenant and also to the licensee assisting the
buyer/tenant upon first contact with each respective party.
5. In a contemplated real estate transaction
where no contact occurs with the buyer/tenant, or their agent or transaction
broker, the seller's/landlord's transaction broker shall disclose this
brokerage relationship status to the buyer's/tenant's agent or transaction
broker when first contact is established pursuant to paragraph (B)5. or (E)5.
of this section.
6. If the
landlord's transaction broker is conducting property management pursuant to
20 CSR
2250-8.200, the unlicensed office personnel may, in
their performance of the duties enumerated in section 339.010.5(5)(a)-(e),
RSMo, make the disclosure described herein on behalf of the landlord's
transaction broker;
(E)
Transaction Broker Assisting Buyer/Tenant.
1.
A licensee assisting a buyer/tenant as a transaction broker who has not been
deemed a transaction broker pursuant to section
339.710(19)(c),
RSMo, shall disclose this brokerage relationship no later than the first
showing to a seller/landlord who is not represented by or working with another
licensee pursuant to sections
339.710 to
339.860, RSMo.
2. If the seller/landlord is represented by
another licensee, this disclosure may be made to the seller/landlord or their
agent upon first contact with the seller/landlord or their agent, whichever
occurs first.
3. If the licensee
has not entered into a written transaction brokerage agreement with the
buyer/tenant, the licensee shall disclose the licensee's transaction broker
status to the buyer/tenant upon establishing such relationship with the
buyer/tenant.
4. In a cooperative
sale/lease between a buyer's/tenant's transaction broker and a licensee working
with a seller/landlord as a transaction broker, the buyer's/tenant's
transaction broker shall make disclosure of this brokerage relationship status
to the seller/landlord and also to the licensee assisting the seller/landlord
upon first contact with each respective party.
5. In a contemplated real estate transaction
where no contact occurs with the seller/landlord, their agent, or transaction
broker, the buyer's/tenant's transaction broker shall establish first contact
with the seller's/landlord's agent or transaction broker and disclose this
brokerage relationship status prior to the presentation of an offer to
exchange, purchase, rent, or lease.
6. If the landlord's agent or transaction
broker is conducting property management pursuant to
20 CSR
2250-8.200, the unlicensed office personnel may, in
their performance of the duties enumerated in section 339.010.5(5)(a)-(e),
RSMo, receive the disclosure described herein on behalf of the landlord's agent
or transaction broker;
(F) Transaction Broker Pursuant to
339.710(19)(c), RSMo.
1. A licensee who
becomes a transaction broker pursuant to 339.710(19)(c), RSMo, shall disclose
this transaction broker status immediately upon its occurrence to all parties
to the real estate transaction to be confirmed in writing prior to the
execution of the contract.
2. The
disclosure of the licensee procuring the buyer (selling licensee) shall serve
as disclosure for the listing licensee and designated broker.
3. A designated broker who becomes a
transaction broker and does not personally represent any of the parties in a
designated agency transaction shall not be required to make disclosure of this
status provided written consent was given by all parties to the real estate
transaction.
*Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993, 1995, 1999, 2004, 2008; 339.720, RSMo 1996, amended 1998, 1999, 2002, 2005; and 339.770, RSMo 1996, amended 1997, 1998, 2002.
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