Missouri Real Estate Broker Exam — All Questions

In Missouri, a licensee who assists a party in a transaction without acting as that party's advocate or agent is a:

• a.Transaction broker✓
• b.Dual agent
• c.Designated agent
• d.Subagent

A transaction broker assists a buyer or seller with a transaction but does not represent either as an advocate or agent and owes only limited statutory duties. A dual agent and a designated agent both involve representation, and a subagent represents the listing broker's client. Missouri specifically recognizes the transaction-broker relationship.

Under Missouri's designated agency, a broker may:

• a.Represent both parties personally without any consent
• b.Refuse to disclose the brokerage relationship to consumers
• c.Appoint different affiliated licensees to separately represent the buyer and the seller✓
• d.Charge a fee to disclose agency

Designated agency lets a broker appoint different affiliated licensees to represent the buyer and the seller in the same transaction, keeping their advocacy separate. It differs from dual agency, where one licensee represents both parties and needs written consent. Brokers must still disclose brokerage relationships, and disclosure is not a fee-based service.

A Missouri licensee must disclose the brokerage relationship to a consumer so that the consumer knows:

• a.The broker's commission split with the firm
• b.Whether the licensee represents them, the other party, or is a transaction broker✓
• c.The seller's mortgage balance
• d.The listing broker's personal income

Brokerage-relationship disclosure informs consumers whether the licensee represents them, represents the other party, or is acting as a transaction broker, so they understand the level of representation they receive. It is not a disclosure of internal commission splits, the seller's mortgage balance, or a broker's personal income.