58-3077.Commercial real estate; sharing commissionswith unlicensed persons, when authorized.(a) As used in this section:
(1) "Commercial real estate" means any real estate for which the present useis other than (A) one to four residential units or (B) for agriculturalpurposes.
(2) "Foreign licensee" means a real estate licensee, in good standing ofanother state or country.
(3) Words and phrases used in this section have the meanings ascribed theretoin K.S.A. 58-3035, and amendments thereto.
(b) A branch broker or supervising broker may cooperate with and sharecommissions or other compensationfor services related to commercial real estate with a foreign licensee and suchforeign licensee shall be permitted to perform services requiring a licenseunder K.S.A. 58-3034 et seq., and amendments thereto, with respecttocommercial realestate in this state even though such foreign licensee is not licensedthereunder if:
(1) The real estate is not improved with a single family residence; and
(2) the foreign licensee agrees to cooperate with a branch broker orsupervising broker of thisstate in any commercial real estate transaction, as evidenced by execution ofand compliance with a broker cooperation agreement which shall include, but notbe limited to, provisions requiring:
(A) The foreign licensee to comply with all applicable laws andregulations of this state;
(B) the foreign licensee to submit to the jurisdiction of the courts of thisstate, the jurisdiction of the Kansas real estate commission and theapplicability of the laws and regulations of this state for theconduct of the foreign licensee with respect to commercial real estate and anyand all claims related thereto;
(C) the foreign licensee to give its written irrevocable written consent toservice of process upon such foreign licensee by valid service upon thesecretary of state of thisstate and upon the secretary of state of the state or province of the foreignlicensee's real estate licensure;
(D) all escrow funds, including but not limited to, earnest deposits andsecurity deposits, concerning the commercial real estate to be held in thisstate either in the trust account of a Kansas-licensed branchbroker or supervising brokeror by a third-party escrow agent located in this state;
(E) a description of how any and all compensation earned on any commercialreal estate transaction shall be shared between the foreign licenseeand the branch broker or supervising broker of this state;
(F) the foreign licensee and thebranch broker or supervising broker of this state to agree to each keepthe other informed of all showings and negotiations for commercial real estate;
(G) the foreign licensee and the branch broker or supervising broker of thisstate to agree to furnishto the other copies of all documents related to any commercial real estatetransaction required by Kansas law to be retained,includingbut not limited to, agency disclosure, offers, counter-offers, purchase andsale contracts, leases and closing statements.
(c) A copy of any broker cooperation agreement shall be provided to thecommission within five business days of the execution thereof.
(d) The provisions of this section shall be a part of and supplemental tothe Kansas real estate brokers' and salespersons' license act.
History: L. 2004, ch. 67, § 2;L. 2006, ch. 159, § 3; July 1.
58-3077.Commercial real estate; sharing commissionswith unlicensed persons, when authorized.(a) As used in this section:
(1) "Commercial real estate" means any real estate for which the present useis other than (A) one to four residential units or (B) for agriculturalpurposes.
(2) "Foreign licensee" means a real estate licensee, in good standing ofanother state or country.
(3) Words and phrases used in this section have the meanings ascribed theretoin K.S.A. 58-3035, and amendments thereto.
(b) A branch broker or supervising broker may cooperate with and sharecommissions or other compensationfor services related to commercial real estate with a foreign licensee and suchforeign licensee shall be permitted to perform services requiring a licenseunder K.S.A. 58-3034 et seq., and amendments thereto, with respecttocommercial realestate in this state even though such foreign licensee is not licensedthereunder if:
(1) The real estate is not improved with a single family residence; and
(2) the foreign licensee agrees to cooperate with a branch broker orsupervising broker of thisstate in any commercial real estate transaction, as evidenced by execution ofand compliance with a broker cooperation agreement which shall include, but notbe limited to, provisions requiring:
(A) The foreign licensee to comply with all applicable laws andregulations of this state;
(B) the foreign licensee to submit to the jurisdiction of the courts of thisstate, the jurisdiction of the Kansas real estate commission and theapplicability of the laws and regulations of this state for theconduct of the foreign licensee with respect to commercial real estate and anyand all claims related thereto;
(C) the foreign licensee to give its written irrevocable written consent toservice of process upon such foreign licensee by valid service upon thesecretary of state of thisstate and upon the secretary of state of the state or province of the foreignlicensee's real estate licensure;
(D) all escrow funds, including but not limited to, earnest deposits andsecurity deposits, concerning the commercial real estate to be held in thisstate either in the trust account of a Kansas-licensed branchbroker or supervising brokeror by a third-party escrow agent located in this state;
(E) a description of how any and all compensation earned on any commercialreal estate transaction shall be shared between the foreign licenseeand the branch broker or supervising broker of this state;
(F) the foreign licensee and thebranch broker or supervising broker of this state to agree to each keepthe other informed of all showings and negotiations for commercial real estate;
(G) the foreign licensee and the branch broker or supervising broker of thisstate to agree to furnishto the other copies of all documents related to any commercial real estatetransaction required by Kansas law to be retained,includingbut not limited to, agency disclosure, offers, counter-offers, purchase andsale contracts, leases and closing statements.
(c) A copy of any broker cooperation agreement shall be provided to thecommission within five business days of the execution thereof.
(d) The provisions of this section shall be a part of and supplemental tothe Kansas real estate brokers' and salespersons' license act.
History: L. 2004, ch. 67, § 2;L. 2006, ch. 159, § 3; July 1.
58-3077.Commercial real estate; sharing commissionswith unlicensed persons, when authorized.(a) As used in this section:
(1) "Commercial real estate" means any real estate for which the present useis other than (A) one to four residential units or (B) for agriculturalpurposes.
(2) "Foreign licensee" means a real estate licensee, in good standing ofanother state or country.
(3) Words and phrases used in this section have the meanings ascribed theretoin K.S.A. 58-3035, and amendments thereto.
(b) A branch broker or supervising broker may cooperate with and sharecommissions or other compensationfor services related to commercial real estate with a foreign licensee and suchforeign licensee shall be permitted to perform services requiring a licenseunder K.S.A. 58-3034 et seq., and amendments thereto, with respecttocommercial realestate in this state even though such foreign licensee is not licensedthereunder if:
(1) The real estate is not improved with a single family residence; and
(2) the foreign licensee agrees to cooperate with a branch broker orsupervising broker of thisstate in any commercial real estate transaction, as evidenced by execution ofand compliance with a broker cooperation agreement which shall include, but notbe limited to, provisions requiring:
(A) The foreign licensee to comply with all applicable laws andregulations of this state;
(B) the foreign licensee to submit to the jurisdiction of the courts of thisstate, the jurisdiction of the Kansas real estate commission and theapplicability of the laws and regulations of this state for theconduct of the foreign licensee with respect to commercial real estate and anyand all claims related thereto;
(C) the foreign licensee to give its written irrevocable written consent toservice of process upon such foreign licensee by valid service upon thesecretary of state of thisstate and upon the secretary of state of the state or province of the foreignlicensee's real estate licensure;
(D) all escrow funds, including but not limited to, earnest deposits andsecurity deposits, concerning the commercial real estate to be held in thisstate either in the trust account of a Kansas-licensed branchbroker or supervising brokeror by a third-party escrow agent located in this state;
(E) a description of how any and all compensation earned on any commercialreal estate transaction shall be shared between the foreign licenseeand the branch broker or supervising broker of this state;
(F) the foreign licensee and thebranch broker or supervising broker of this state to agree to each keepthe other informed of all showings and negotiations for commercial real estate;
(G) the foreign licensee and the branch broker or supervising broker of thisstate to agree to furnishto the other copies of all documents related to any commercial real estatetransaction required by Kansas law to be retained,includingbut not limited to, agency disclosure, offers, counter-offers, purchase andsale contracts, leases and closing statements.
(c) A copy of any broker cooperation agreement shall be provided to thecommission within five business days of the execution thereof.
(d) The provisions of this section shall be a part of and supplemental tothe Kansas real estate brokers' and salespersons' license act.
History: L. 2004, ch. 67, § 2;L. 2006, ch. 159, § 3; July 1.
