Missouri Brokerage Relationships and Disclosure
Missouri law defines specific brokerage relationships and requires disclosure of the relationship to consumers. This chapter explains agent, transaction broker, and designated agent relationships and the broker disclosure duty.
Recognized Relationships
Missouri recognizes several brokerage relationships, including the seller's or landlord's agent, the buyer's or tenant's agent, the dual agent, the designated agent, and the transaction broker. A transaction broker assists a party without acting as an advocate or agent and owes limited duties. These defined relationships let consumers understand the level of representation they are receiving.
Broker Disclosure of the Relationship
Missouri licensees must disclose their brokerage relationship to consumers so buyers and sellers know whether the licensee represents them, represents the other party, or is acting as a transaction broker. Disclosure is made in writing at the appropriate time under Chapter 339 and Commission rules. The supervising broker is responsible for ensuring the firm's licensees make proper relationship disclosures.
Designated Agency and Dual Agency
Under designated agency, a broker may appoint different affiliated licensees to represent the buyer and the seller in the same transaction, keeping their advocacy separate. A dual agent represents both parties directly and may act only with written consent, without disclosing one party's confidential information to the other. Missouri's designated-agency option is a distinctive feature that supervising brokers must manage carefully.