Agency Relationships
Want to know more about Real Estate Agency?
Missouri law allows licensees to work for the interest of one or both of the parties to the transaction. The law also allows the licensee to work in a neutral position. How the licensee works depends on the type of brokerage service agreements involved. Since the sale or lease of real estate can involve several licensees it is important that you understand what options are available to you regarding representation and to understand the relationships among the parties to any transaction in which you are involved.
Missouri laws require that if you want representation, you must enter into a written agreement. This may or may not require you to pay a commission. You do not need to enter into a written agreement with a transaction broker unless you intend to compensate this licensee. These agreements vary and you may also want to consider an exclusive or nonexclusive type of relationship.
If you choose not to be represented by an agent, the licensee working with you may be working for the other party to the transaction.
Please click on link herein to review the Missouri Revised Statute relating to the presentation of when the Broker Disclosure Form shall be presented by licensees. Please click on the link herein to see the actual Missouri's Broker Disclosure Form.
Please click on the links herein to read the duties and obligations of each of the aforementioned agency relationships, as defined by the State of Missouri Real Estate Statutes regarding Agency. Seller’s Agent’s, Buyer’s Agent’s, Dual Agents, and Transaction Brokerage.
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