20 CSR 2250-8.097 - Broker Disclosure Form

PURPOSE: This rule implements a statutory requirement that licensees must present agency alternatives to the public using a Broker Disclosure Form prescribed by the Missouri Real Estate Commission.

(1) In a residential real estate transaction, at the earliest practicable opportunity during or following the first substantial contact by the designated broker or the affiliated licensees with a seller, landlord, buyer, or tenant who has not entered into a brokerage relationship as described in section 339.710.5, RSMo, the licensee shall provide that person with a written copy of the current Broker Disclosure Form prescribed by the Missouri Real Estate Commission. In any event, a licensee shall provide the party that has not entered into a brokerage relationship as described in section 339.710.5, RSMo, the Broker Disclosure Form upon obtaining any personal or financial information or before the signing of a brokerage service agreement, whichever occurs first. If a landlord's agent or transaction broker is conducting property management pursuant to 20 CSR 2250-8.200, the unlicensed office personnel may, in their performance of the duties enumerated in section 339.010.5(5)(a)-(e), RSMo, provide a tenant with a written copy of the current Broker Disclosure Form prescribed by the commission on behalf of the landlord's agent or transaction broker.

(2) The brokerage relationship marked as offered on the Broker Disclosure Form shall correspond to the written office policy adopted by the designated broker pursuant to 339.760.1, RSMo.

Notes

20 CSR 2250-8.097

AUTHORITY: sections 339.120 and 339.770, RSMo Supp. 2008.* This rule originally filed as 4 CSR 250-8.097. Original rule filed Dec. 1, 1997, effective Sept. 1, 1998. Amended: Filed Jan. 14, 2000, effective July 30, 2000. Amended: Filed Nov. 3, 2003, effective April 30, 2004. Moved to 20 CSR 2250-8.097, effective Aug. 28, 2006. Amended: Filed April 3, 2009, effective Sept. 30, 2009.

*Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993, 1995, 1999, 2004, 2008 and 339.770, RSMo 1996, amended 1997, 1998, 2002.