339.780. Brokerage services, written agreements for, parties to, authorizations by designated broker--written agreements, limited agency, single agent, dual agent or subagent.
Brokerage services, written agreements for, parties to, authorizationsby designated broker--written agreements, limited agency, singleagent, dual agent or subagent.
339.780. 1. All written agreements for brokerage services on behalfof a seller, landlord, buyer, or tenant shall be entered into by thedesignated broker on behalf of that broker and affiliated licensees, exceptthat the designated broker may authorize affiliated licensees in writing toenter into the written agreements on behalf of the designated broker.
2. Before engaging in any of the activities enumerated in section339.010, a designated broker intending to establish a limited agencyrelationship with a seller or landlord shall enter into a written agencyagreement with the party to be represented. The agreement shall include alicensee's duties and responsibilities specified in section 339.730 and theterms of compensation and shall specify whether an offer of subagency maybe made to any other designated broker.
3. Before or while engaging in any acts enumerated in section339.010, except ministerial acts defined in section 339.710, a designatedbroker acting as a single agent for a buyer or tenant shall enter into awritten agency agreement with the buyer or tenant. The agreement shallinclude a licensee's duties and responsibilities specified in section339.740 and the terms of compensation.
4. Before engaging in any of the activities enumerated in section339.010, a designated broker intending to act as a dual agent shall enterinto a written agreement with the seller and buyer or landlord and tenantpermitting the designated broker to serve as a dual agent. The agreementshall include a licensee's duties and responsibilities specified in section339.750 and the terms of compensation.
5. Before engaging in any of the activities enumerated in section339.010, a designated broker intending to act as a subagent shall enterinto a written agreement with the designated broker for the client. If adesignated broker has made a unilateral offer of subagency, anotherdesignated broker can enter into the subagency relationship by the act ofdisclosing to the customer that he or she is a subagent of the client. Ifa designated broker has made an appointment pursuant to section 339.820, anaffiliated licensee that has been excluded by such appointment may enterinto the subagency relationship by the act of disclosing to the customerthat he or she is a subagent of the client.
6. A designated broker who intends to act as a transaction broker andwho expects to receive compensation from the party he or she assists shallenter into a written transaction brokerage agreement with such party orparties contracting for the broker's service. The transaction brokerageagreement shall include a licensee's duties and responsibilities specifiedin section 339.755 and the terms of compensation.
7. All exclusive brokerage agreements shall specify that the broker,through the broker or through one or more affiliated licensees, shallprovide, at a minimum, the following services:
(1) Accepting delivery of and presenting to the client or customeroffers and counteroffers to buy, sell, or lease the client's or customer'sproperty or the property the client or customer seeks to purchase or lease;
(2) Assisting the client or customer in developing, communicating,negotiating, and presenting offers, counteroffers, and notices that relateto the offers and the counteroffers until a lease or purchase agreement issigned and all contingencies are satisfied or waived; and
(3) Answering the client's or customer's questions relating to theoffers, counteroffers, notices, and contingencies.
8. Nothing contained in this section shall prohibit the public fromentering into written contracts with any broker which contain duties,obligations, or responsibilities which are in addition to those specifiedin this section.
(L. 1996 S.B. 664 § 8, A.L. 1998 H.B. 1601, et al., A.L. 1999 H.B. 866, A.L. 2004 H.B. 985, A.L. 2005 H.B. 174)