Missouri Broker License Classes
Missouri issues several classes of broker license and administers them through the Missouri Real Estate Commission under Chapter 339, RSMo. This chapter explains the broker license classifications and how each functions within a firm.
The Commission and Chapter 339
The Missouri Real Estate Commission licenses and regulates brokers and salespersons under Chapter 339 of the Revised Statutes of Missouri (RSMo). The Commission issues licenses, adopts rules, and disciplines licensees. A broker license is the higher tier above salesperson and comes in several classifications depending on the licensee's role in a firm.
Broker Classifications
Missouri recognizes broker classifications such as broker-officer (a broker who is an officer of a corporation holding the firm license), broker-partner or broker-associate arrangements, and the broker-salesperson who holds a broker license but works under another broker. Each classification defines whether the licensee runs the firm, is an owner or officer, or is affiliated under a supervising broker. The classification determines the licensee's authority and accountability.
The Designated Broker for a Firm
A real estate business entity in Missouri must have a designated broker who is responsible for the firm's licensed activity. The designated broker holds the firm accountable to the Commission and supervises affiliated licensees. Understanding which broker classification applies is essential because only certain classes may serve as the firm's designated or supervising broker.