Missouri Revised Statutes
Chapter 339 - Real Estate Agents, Brokers, Appraisers and Escrow Agents
Section 339.720 - Licensee's duties and obligations in writing — licensee as transaction broker, exceptions.

Effective - 28 Aug 2005
339.720. Licensee's duties and obligations in writing — licensee as transaction broker, exceptions. — 1. A licensee's general duties and obligations arising from the limited agency relationship shall be disclosed in writing to the seller and the buyer or to the landlord and the tenant pursuant to sections 339.760 to 339.780. Alternatively, when engaged in any of the activities enumerated in section 339.010, a licensee may act as an agent in any transaction in accordance with a written agreement as described in section 339.780.
2. A licensee shall be considered a transaction broker unless:
(1) The designated broker enters into a written seller's agent or landlord's agent agreement with the party or parties to be represented pursuant to subsection 2 of section 339.780;
(2) The designated broker enters into a subagency agreement with another designated broker pursuant to subsection 5 of section 339.780;
(3) The designated broker establishes a buyer's or tenant's agency relationship pursuant to subsection 3 of section 339.780;
(4) The designated broker enters into a written agency agreement pursuant to subsection 8 of section 339.780;
(5) The designated broker and the affiliated licensees are performing ministerial acts;
(6) The designated broker enters into a written dual agency agreement with the parties pursuant to subsection 4 of section 339.780;
(7) The designated broker is acting in a manner described in paragraph (c) of subdivision (23) of section 339.710 without proper notice of assumption of transaction broker status; or
(8) The licensee is making a listing presentation, which may include pricing and marketing advice about a potential future transaction, to a customer in anticipation of entering into a signed agency brokerage service agreement as a direct result of the presentation.
3. Sections 339.710 to 339.860 do not obligate any buyer or tenant to pay compensation to a designated broker unless the buyer or tenant has entered into a written agreement with the designated broker specifying the compensation terms in accordance with subsection 3 of section 339.780.
4. A licensee may work with a single party in separate transactions pursuant to different relationships, including, but not limited to, selling one property as a transaction broker or a seller's agent working with that seller in buying another property as a buyer's agent, as a subagent or as a transaction broker if the licensee complies with sections 339.710 to 339.860 in establishing the relationships for each transaction.
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(L. 1996 S.B. 664 § 2, A.L. 1998 H.B. 1601, et al., A.L. 1999 H.B. 866, A.L. 2002 H.B. 1964, A.L. 2005 H.B. 174)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXII - Occupations and Professions

Chapter 339 - Real Estate Agents, Brokers, Appraisers and Escrow Agents

Section 339.010 - Definitions — inapplicability of chapter.

Section 339.020 - Brokers and salespersons, unlawful to act without license.

Section 339.030 - Business entities may be licensed, when, fee.

Section 339.040 - Licenses granted to whom — examination — qualifications — fee — temporary broker's license, when.

Section 339.045 - Real estate schools — accreditation — registration — fee, how determined.

Section 339.050 - Form of application.

Section 339.060 - Fees, amount, set how — term of licenses.

Section 339.070 - Fees, collection and disposition — fund, source, use, transferred to general revenue, when.

Section 339.080 - Denial of application or license, when, notice — hearing.

Section 339.090 - License of nonresident — fee — reciprocity — rulemaking authority.

Section 339.100 - Investigation of certain practices, procedure — subpoenas — formal complaints — revocation or suspension of licenses — digest may be published — revocation of licenses for certain offenses.

Section 339.105 - Separate bank escrow accounts required — service charges for account may be made by personal deposit by broker, amount allowed.

Section 339.110 - Refusal of licenses, when.

Section 339.120 - Commission, created — members, qualifications, terms, compensation — powers and duties — rulemaking authority, procedure.

Section 339.125 - Rulemaking procedure.

Section 339.130 - Legal status of commission.

Section 339.150 - Unlicensed persons not to be employed, when — no fees paid, when, exception — compensation directly to business entity owned by licensee, when — definitions.

Section 339.151 - No commission or consideration unless reasonable cause for payment or contractual relationship exists.

Section 339.160 - Real estate brokers and salespersons may not bring legal action for compensation unless licensed.

Section 339.170 - Penalty for violation.

Section 339.175 - Mortgage fraud, commission may file court action — civil penalty — investigation authority.

Section 339.180 - Practice without a license — endangering welfare of others — injunction, procedure.

Section 339.190 - Real estate licensee, immunity from liability, when.

Section 339.200 - Prohibited acts — investigation may be initiated, when, procedure.

Section 339.205 - Civil penalty may be imposed, when — amount, limit, factors — settlement procedures.

Section 339.500 - Citation of law.

Section 339.501 - Licensure or certification of real estate appraisers required, exceptions.

Section 339.503 - Definitions.

Section 339.505 - Titles of state-certified or state-licensed appraiser, who may use — certification or licensure not required to appraise for compensation — management companies, registration required, exceptions.

Section 339.507 - Real estate appraisers commission and chairperson, appointment — terms — vacancies, meetings — quorum — per diem — expenses — annual report.

Section 339.507 - Real estate appraisers commission and chairperson, appointment — terms — vacancies, meetings — quorum — per diem — expenses.

Section 339.509 - Commission, powers and duties.

Section 339.511 - Classifications of certification and licensure for appraisers and management companies — application — qualifications — continuing education requirements.

Section 339.513 - Applications for examinations, original certification, licensure and renewals, requirements, contents, fees, how set — fund established — signed compliance pledge, required.

Section 339.515 - Examination, content, validity period, must retake, when — failure to pass reexamination, when.

Section 339.517 - Examination required, when — rules authorized, invalid, when.

Section 339.519 - Term of license — expiration date to appear on certificate or license — continuing education requirement, proof.

Section 339.523 - Nonresidents of state — requirements to be certified or licensed in Missouri — service of process provisions.

Section 339.525 - Renewals, procedure — renewal of an expired certificate or license, when, fee — inactive status granted, when.

Section 339.527 - Certificate or license number to be placed on report or contract — titles, how used — prohibited use — issue of certificate or license only to natural persons.

Section 339.529 - Addresses and changes of addresses, procedure — duties of notification.

Section 339.530 - Continuing education requirements for renewal or accepted other studies and projects.

Section 339.531 - Complaint procedure — effective date.

Section 339.532 - Refusal to issue or renew certificate or license, procedure, hearing, grounds for refusal, penalties — revocation, when, appeal — recertification or relicensure, examination required.

Section 339.533 - Authority of commission, oaths and subpoenas.

Section 339.535 - Compliance with uniform standards required.

Section 339.537 - Records to be retained, retention period — availability of records for appraisers, when, cost.

Section 339.539 - Choosing an appraiser or discriminating against one for membership or lack of membership in appraisal organization prohibited.

Section 339.541 - Deception or fraud in applications, taking examination or falsely representing to public certification or licensure, penalty.

Section 339.543 - Mortgage fraud, commission may file court action — civil penalty — investigation authority.

Section 339.544 - Rulemaking authority.

Section 339.545 - Commission to issue certificates and licenses.

Section 339.546 - Violations of law — criminal penalties.

Section 339.549 - Violation of law — civil penalties — injunctions, venue.

Section 339.710 - Definitions.

Section 339.720 - Licensee's duties and obligations in writing — licensee as transaction broker, exceptions.

Section 339.730 - Licensee as limited agent representing seller or landlord, duties — confidential information disclosure, when — licensee's duties to customer — showing alternative properties — subagent, duties.

Section 339.740 - Licensee representing head buyer or tenant — duties and obligations of — disclosure of confidential information — licensee's duty to a customer — showing of properties — subagents.

Section 339.750 - Dual agent, consent — dual agent as limited agent — disclosure of nonconfidential information, when — nondisclosure of information, when — confidential information — no imputation of information.

Section 339.755 - Duties and obligations of transaction broker.

Section 339.760 - Written agreement, adoption by designated broker, scope.

Section 339.770 - Broker disclosure form for residential real estate transaction, provided by licensee, prior agreement, effect.

Section 339.780 - Brokerage services, written agreements for, parties to, authorizations by designated broker — written agreements, limited agency, single agent, dual agent or subagent.

Section 339.790 - Commencement of agreement, when — duties after termination of agreement.

Section 339.800 - Compensation of designated broker, paid by whom, sharing compensation — payment establishing agency — agreement by seller or buyer on sharing compensation.

Section 339.810 - Misrepresentation, client liability — licensee liability — liability for subagent, limited agent licensee liability — licensee as subagent, liability.

Section 339.820 - Limited agency agreement, listings or representing client, appointment of affiliated licensees.

Section 339.830 - Designated agents' and transaction brokers' duties to client — licensees' protections from liability.

Section 339.840 - Supersession of agency law, no limitation of civil actions.

Section 339.845 - Notice of delinquent taxes to be sent by commission.

Section 339.850 - Rules and regulations, promulgation, authority.

Section 339.855 - Severability clause.