Brokerage Relationships in Montana
Montana defines working relationships and makes the non-agency 'statutory broker' the default. This chapter explains the statutory broker, the agency options, and the required relationship disclosure.
The Statutory Broker as Default
Montana recognizes the statutory broker: a licensee who assists a party in a transaction without acting as that party's agent. Unless a written agency agreement creates a seller-agent or buyer-agent relationship, the licensee is treated as a statutory broker. A statutory broker owes limited duties such as honesty, reasonable care, and disclosure of known adverse material facts, but not the loyalty and advocacy of an agent.
Seller Agent, Buyer Agent, and Dual Agent
By written agreement a licensee may become a seller agent or buyer agent, owing that client full agency duties including loyalty and confidentiality. A licensee who would represent both parties acts as a dual agent, which Montana permits only with the informed written consent of both parties. A dual agent cannot fully advocate for either side and must keep each party's confidential information from the other.
Required Relationship Disclosure
Montana requires the licensee to provide the relationships-in-real-estate disclosure at the first substantial contact with a party, before the party shares confidential information. The disclosure explains the statutory broker role and the agency options so the party can decide whether to be represented as a client. Early disclosure protects the party's negotiating information.
State-specific details
State exam facts
- State regulator
- Montana Board of Realty Regulation (DLI)
- Exam vendor
- PSI
Who licenses real estate agents in Montana?
The Montana Board of Realty Regulation, within the Department of Labor and Industry (DLI), licenses salespersons and brokers. The Board uses PSI to deliver the exam.
How is the Montana salesperson exam structured?
The Montana salesperson exam is delivered by PSI with a national portion and a Montana state portion, scored separately; you must pass both. Confirm the current scored-question counts and passing score in the PSI Candidate Information Bulletin.
What education does Montana require before the salesperson exam?
Montana requires completion of a Board-approved salesperson pre-license course before you sit for the exam. Confirm the current required hours on the Montana Board of Realty Regulation website before enrolling.
Sources: https://boards.bsd.dli.mt.gov/realty-regulation, https://www.psiexams.com/
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