MINIMUM BROKERAGE SERVICES AS ADAPTED FROM SECTION 339.780.7 RSMo
Pursuant to Missouri Law, Broker, through its designated broker and/or
through one or more affiliated licensees, shall provide at a minimum, the
following services:
Accepting delivery of and presenting to the buyer or customer's offers and
counteroffers to buy, sell, or lease property that buyer seeks
to purchase or lease;
Assisting the Buyer or Customers in developing, communicating, negotiating,
and presenting offers, counteroffers, and notices that
relate to the offers and the counteroffers until the lease or purchase
agreement is signed and all contingencies are satisfied or waived;
and
Answering Buyer or customer questions relating to the offers, counteroffers,
notices, and contingencies.
DUTIES AND OBLIGATIONS OF LIMITED AGENCY AS ADAPTED FROM SECTION 339.740 RSMo
1. A licensee representing a buyer or tenant as a buyer's or tenant's agent
shall be a limited agent with the following duties and obligations:
To perform the terms of any written agreement made with the client;
To exercise reasonable skill and care for the client;
To promote the interest of the client with the utmost good faith, loyalty,
and fidelity, including:
a. Seeking a price and terms which are acceptable to the client, except
that the licensee shall not be obligated to seek other properties
while the client is a party to a contract to purchase property or to a lease
or letter of intent to lease;
b. Presenting all written offers to and from the client in a timely
manner regardless of whether the client is already a party to a
contract to purchase property or is already a party to a contract or a
letter of intent to lease;
c. Disclosing to the client adverse material facts actually known or that
should have been known by the licensee;
d. Advising the client to obtain expert advice as to material matters
about which the licensee knows but the specifics of which are
beyond the expertise of the licensee;
To account in a timely manner for all money and property received;
To comply will all requirements of sections 339.710 to 339.860,
subsection 2 of section 339.100, and any rules and regulations
promulgated pursuant to those sections; and
To comply with any applicable federal, state, and local laws, rules,
regulations, and ordinances, including fair housing and civil rights
statutes or regulations.
A licensee acting as a buyer's or tenant's agent shall not disclose any
confidential information about the client unless disclosure is
required by statute, rule, or regulation or failure to disclose the
information would constitute a misrepresentation or unless disclosure is
necessary to defend the affiliated licensee against an action of wrongful
conduct in an administrative or judicial proceeding or before a
professional committee. No cause of action for any person shall arise against
a licensee acting as a buyer's or tenant's agent for making
any required or permitted disclosure.
A licensee acting as a buyer's or tenant's agent owes no duty or obligation
to a customer, except that the licensee shall disclose to any
customer all adverse material facts actually known or that should have been
known by the licensee. A buyer's or tenant's agent owes no
duty to conduct an independent investigation of the client's financial
condition for the benefit of the customer and owes no duty to independently
verify the accuracy or completeness of statements made by the client or any
independent inspector.
A buyer's or tenant's agent may show properties in which the client is
interested to other prospective buyers or tenants without breaching any duty
or
obligation to the client. This section shall not be construed to prohibit a
buyer's or tenant's agent from showing competing buyers or tenants the same
property
and from assisting competing buyers or tenants in attempting to purchase or
lease a particular property.
A client may agree in writing with a buyer's or tenant's agent that other
designated brokers may be retained and compensated as subagents.
Any designated broker acting on the buyer's or tenant's behalf as a subagent
shall be a limited agent with the obligations and responsibilities
set forth in subsections 1 to 4 of this section.
DISCLOSED DUALAGENCY AS ADAPTED FROM SECTION 339.750 RSMo
A licensee may act as a dual agent only with the consent of all parties to
the transaction. Consent shall be presumed by a written agreement
pursuant to section 339.780.
Adual agent shall be a limited agent for both the seller and buyer or the
landlord and tenant and shall have the duties and obligations required by
sections
339.730 and 339.740 unless otherwise provided for in this section.
Except as provided in subsections 4 and 5 of this section, a dual agent may
disclose any information to one client that the licensee gains
from the other client if the information is material to the transaction unless
it is confidential information as defined in section 339.710.
The following information shall not be disclosed by a dual agent without the
consent of the client to whom the information pertains:
That a buyer or tenant is willing to pay more than the purchase price or
lease rate offered for the property;
That a seller or landlord is willing to accept less than the asking price
or lease rate for the property;
What the motivating factors are for any client buying, selling, or leasing
the property;
That a client will agree to financing terms other than those offered; and
The terms of any prior offers or counter offers made by any party.
Adual agent shall not disclose to one client any confidential information
about the other client unless the disclosure is required by statute, rule or
regulation
or failure to disclose the information would constitute a misrepresentation or
unless disclosure is necessary to defend the affiliated licensee against an
action
of wrongful conduct in an administrative or judicial proceeding or before a
professional committee. No cause of action for any person shall arise against
a
dual agent for making any required or permitted disclosure. A dual agent does
not terminate the dual agency relationship by making any required or
permitted disclosure.
In a dual agency relationship there shall be no imputation of knowledge or
information between the client and the dual agent or among
persons within an entity engaged as a dual agent.
