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 2250-8.090 - Brokerage Service Agreements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule requires that a listing agreement
				  be in writing and that a copy of the agreement be delivered to the owner before
				  a broker may advertise or place a sign on the property. The agreement must
				  contain all terms, conditions, a definite expiration date, and signatures of
				  all parties. All information contained on the agreement shall be carefully
				  investigated for accuracy by the listing agent. In a cooperative listing, the
				  selling broker shall be presumed to be a subagent of the listing
				  broker.
(1) A licensee shall
				not advertise or place a sign upon any property offering it for sale or lease
				to prospective customers without the written consent of the owner or his or her
				duly authorized agent.
(2) A
				licensee shall not show residential property unless a broker holds a currently
				effective written seller's/lessor's agency agreement, seller's/lessor's
				transaction brokerage agreement, or other written authorization to
				show.
(3) In a commercial real
				estate transaction, a brokerage service agreement prepared by legal counsel for
				the client/customer to be represented or assisted shall not be subject to the
				provisions of
				20 CSR
				2250-8.090(4)-(7).
(4) Seller's/Lessor's Agency (Sale/Lease
				Listing) Agreement.
(A) Every written listing
				agreement or other written agreement for brokerage services shall contain all
				of the following:
1. The price;
2. The commission to be paid (including any
				and all bonuses);
3. A definite
				beginning date;
4. An expiration
				date;
5. The licensee's duties and
				responsibilities;
6. A statement
				which permits or prohibits the designated broker from offering
				subagency;
7. A statement which
				permits or prohibits the designated broker and/or affiliated licensee from
				acting as a disclosed dual agent and if permitted, the duties and
				responsibilities of a dual agent;
8. A statement which permits or prohibits the
				designated broker and/or affiliated licensee from acting as a transaction
				broker and if permitted, the duties and responsibilities of a transaction
				broker;
9. Specification of whether
				or not the designated broker is authorized to cooperate with and compensate
				other designated brokers acting pursuant to any other brokerage relationship as
				defined by 339.710 to 339.860, RSMo, including but not limited to buyer's
				agents and/or transaction brokers;
10. A statement which confirms that the
				seller/lessor received the Broker Disclosure Form prescribed by the commission:
a) on or before the signing of the seller's
				agency agreement, or
b) upon the
				licensee obtaining any personal or financial information, whichever occurs
				first;
11. The
				signatures of all owners and the listing broker or listing agent as authorized
				by the broker;
12. The type of
				listing;
13. The legal description
				or the complete street address of the property, which includes the city where
				the property is located; or, in the absence of a legal description or address,
				a clear description which unmistakably identifies the property; and
14. All other terms and conditions under
				which the property is to be sold, leased, or exchanged.