Missouri Listing, Offer, and Closing Contract Forms and Costs
Twelve items. Bulletin 4673 prints no subtopics under this heading — it is a bare heading — so the coverage here follows the four things the heading itself names, and it is arithmetic and form mechanics rather than recall.
Listing and Offer Forms
A licensee may not show residential property unless the broker holds a currently effective written seller's agency agreement, seller's transaction brokerage agreement, or other written authorization to show (20 CSR 2250-8.090(2)), and may not advertise or sign a property without the owner's written consent (8.090(1)). A copy of any signed brokerage agreement goes to the client at the time the signature is obtained. On the offer side, the licensee must include all terms the principal authorized "and shall not offer the property on any other terms," and every written offer must identify the property by legal description or address and city, or by a clear description unmistakably identifying it (8.100(1)). Changes are initialed by all buyers and sellers, and the operative date is the date final agreement was reached — the last signature or initial (8.100(3)).
Closing Forms
At the time the transaction is consummated the broker delivers "a complete, accurate and detailed statement showing all material financial aspects of the transaction, including the true sale price, the earnest money received, any mortgages or deeds of trust of record, all money received by the broker in the transaction, the amount, and payee(s) of all disbursements made by the broker" (20 CSR 2250-8.150(1)). Where the parties have different brokers, the listing broker is responsible for delivering the statements. A broker who personally handles a closing signs and dates it that day; a salesperson may conduct a closing only under the direct supervision of the manager or broker; and both brokers retain legible copies of both signed statements.
Costs and the Arithmetic
Missouri charges no real estate transfer tax, and the bar is constitutional: article X, section 25 of the Missouri Constitution, effective 2 December 2010, prevents "the state, counties, and other political subdivisions ... from imposing any new tax, including a sales tax, on the sale or transfer of homes or any other real estate." Recording fees are not a tax and still appear. The calculations to practice are the seller's net (commission on the price actually obtained, then payoff, then costs); the net-to-seller problem, which must be solved as price = (target + costs) / (1 - commission rate) rather than by adding the percentage; buyer funds needed at closing, crediting earnest money already paid; tax proration, remembering Missouri taxes are paid in arrears so the seller's used share is credited to the buyer; and rent proration, where rent collected in advance is credited to the buyer for the days after closing.
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State-specific details
State exam facts
- State regulator
- Missouri Real Estate Commission (MREC)
- Prelicensing education
- 48-hour broker pre-examination course
- Passing score
- 75% on each portion
Who regulates real estate brokers in Missouri?
The Missouri Real Estate Commission (MREC), within the Division of Professional Registration, licenses brokers and salespersons and approves the pre-license education and exam.
What experience do I need before the Missouri broker exam?
Broker applicants must have held an active Missouri salesperson license for at least 24 of the 30 months immediately preceding application, and complete the 48-hour broker pre-examination course. The application must be submitted within six months of completing that course.
How is the Missouri broker exam structured?
PSI administers both portions in one 270-minute appointment: a 90-item national portion scored to 100 points in 150 minutes, and a 75-item Missouri state portion scored to 75 points in 120 minutes. You need 75% on each. The state portion is the largest of any state in this family — nearly double the 40-item salesperson state portion — and Missouri publishes a separate broker state outline. The national broker exam is scenario-based, with some items carrying more than four options and one best answer scored up to two points; the Missouri state portion is ordinary four-option multiple choice.
What is on the Missouri broker state portion?
PSI bulletin 4673 sets six areas: Licenses (7 items), Educational Requirements (2), Business Conduct and Practices (40), Disciplinary Proceedings (8), Listing, Offer, and Closing Contract Forms and Costs (12), and Brokerage Relationships (6). Business Conduct alone is 53% of the state portion, so most of your study time belongs in Chapter 339, RSMo and the Commission's rules at 20 CSR 2250-8.
What continuing education do Missouri brokers need?
Twelve hours during each two-year license period, at least three of which must be a core course the Commission designates and posts on its website. For the 2026-2028 renewal period the designated core topic is Fair Housing, so a broker taking only one core course must take Fair Housing. Broker licenses expire 30 June of each even-numbered year (salesperson licenses expire 30 September).
Sources: https://pr.mo.gov/realestate.asp, https://test-takers.psiexams.com/api/content/bulletin/4673, https://revisor.mo.gov/main/OneChapter.aspx?chapter=339, https://www.sos.mo.gov/adrules/csr/current/20csr/20csr
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