Missouri Brokerage Relationships and Agency
Missouri statute defines specific brokerage relationships and requires early disclosure of how a licensee will work with a consumer. This chapter reviews the relationship types and Missouri's disclosure rules.
Types of Brokerage Relationships
Missouri law recognizes several relationships: seller's agent, buyer's agent, dual agent, designated agent, subagent, and transaction broker. An agent owes fiduciary-type duties to the client, while a transaction broker assists parties without representing any of them as an advocate. Dual agency and designated agency require the informed consent of the parties.
The Broker Disclosure Form
Missouri requires the written Broker Disclosure Form be given to a party at the first substantive contact, identifying the brokerage relationship the licensee has or proposes. Early disclosure helps consumers understand whether the licensee represents them, the other party, or neither, and prevents undisclosed dual agency.
Duties to Clients and Customers
When acting as an agent, a Missouri licensee owes the client duties of loyalty, confidentiality, disclosure of material facts, obedience to lawful instructions, accounting, and reasonable care. To customers and other parties, the licensee still owes honesty, fair dealing, and disclosure of known material facts about the property.