339.710. For purposes of sections 339.010 to 339.180, and sections339.710 to 339.860*, the following terms mean:
(1) "Adverse material fact", a fact related to the property notreasonably ascertainable or known to a party which negatively affects thevalue of the property. Adverse material facts may include matterspertaining to:
(a) Environmental hazards affecting the property;
(b) Physical condition of the property which adversely affects thevalue of the property;
(c) Material defects in the property;
(d) Material defects in the title to the property;
(e) Material limitation of the party's ability to perform under theterms of the contract;
(2) "Affiliated licensee", any broker or salesperson who works underthe supervision of a designated broker;
(3) "Agent", a person or entity acting pursuant to the provisions ofthis chapter;
(4) "Broker disclosure form", the current form prescribed by thecommission for presentation to a seller, landlord, buyer or tenant who hasnot entered into a written agreement for brokerage services;
(5) "Brokerage relationship", the relationship created between adesignated broker, the broker's affiliated licensees, and a client relatingto the performance of services of a broker as defined in section 339.010,and sections 339.710 to 339.860*. If a designated broker makes anappointment of an affiliated licensee or affiliated licensees pursuant tosection 339.820, such brokerage relationships are created between theappointed licensee or licensees and the client. Nothing in thissubdivision shall:
(a) Alleviate the designated broker from duties of supervision of theappointed licensee or licensees; or
(b) Alter the designated broker's underlying contractual agreementwith the client;
(6) "Client", a seller, landlord, buyer, or tenant who has enteredinto a brokerage relationship with a licensee pursuant to sections 339.710to 339.860*;
(7) "Commercial real estate", any real estate other than real estatecontaining one to four residential units or real estate classified asagricultural and horticultural property for assessment purposes pursuant tosection 137.016, RSMo. Commercial real estate does not include singlefamily residential units including condominiums, townhouses, or homes in asubdivision when that real estate is sold, leased, or otherwise conveyed ona unit-by-unit basis even though the units may be part of a larger buildingor parcel of real estate containing more than four units;
(8) "Commission", the Missouri real estate commission;
(9) "Confidential information", information obtained by the licenseefrom the client and designated as confidential by the client, informationmade confidential by sections 339.710 to 339.860* or any other statute orregulation, or written instructions from the client unless the informationis made public or becomes public by the words or conduct of the client towhom the information pertains or by a source other than the licensee;
(10) "Customer", an actual or potential seller, landlord, buyer, ortenant in a real estate transaction in which a licensee is involved but whohas not entered into a brokerage relationship with the licensee;
(11) "Designated agent", a licensee named by a designated broker asthe limited agent of a client as provided for in section 339.820;
(12) "Designated broker", any individual licensed as a broker who isoperating pursuant to the definition of real estate broker as defined insection 339.010, or any individual licensed as a broker who is appointed bya partnership, association, limited liability corporation, or a corporationengaged in the real estate brokerage business to be responsible for theacts of the partnership, association, limited liability corporation, orcorporation. Every real estate partnership, association, or limitedliability corporation, or corporation shall appoint a designated broker;
(13) "Designated transaction broker", a licensee named by adesignated broker or deemed appointed by a designated broker as thetransaction broker for a client pursuant to section 339.820;
(14) "Dual agency", a form of agency which may result when an agentlicensee or someone affiliated with the agent licensee represents anotherparty to the same transaction;
(15) "Dual agent", a limited agent who, with the written consent ofall parties to a contemplated real estate transaction, has entered into anagency brokerage relationship, and not a transaction brokeragerelationship, with and therefore represents both the seller and buyer orboth the landlord and tenant;
(16) "Exclusive brokerage agreement", means a written brokerageagreement which provides that the broker has the sole right, through thebroker or through one or more affiliated licensees, to act as the exclusivelimited agent, representative, or transaction broker of the client orcustomer that meets the requirements of section 339.780;
(17) "Licensee", a real estate broker or salesperson as defined insection 339.010;
(18) "Limited agent", a licensee whose duties and obligations to aclient are those set forth in sections 339.730 to 339.750;
(19) "Ministerial acts", those acts that a licensee may perform for aperson or entity that are informative in nature and do not rise to thelevel which requires the creation of a brokerage relationship. Examples ofthese acts include, but are not limited to:
(a) Responding to telephone inquiries by consumers as to theavailability and pricing of brokerage services;
(b) Responding to telephone inquiries from a person concerning theprice or location of property;
(c) Attending an open house and responding to questions about theproperty from a consumer;
(d) Setting an appointment to view property;
(e) Responding to questions of consumers walking into a licensee'soffice concerning brokerage services offered on particular properties;
(f) Accompanying an appraiser, inspector, contractor, or similarthird party on a visit to a property;
(g) Describing a property or the property's condition in response toa person's inquiry;
(h) Showing a customer through a property being sold by an owner onhis or her own behalf; or
(i) Referral to another broker or service provider;
(20) "Residential real estate", all real property improved by astructure that is used or intended to be used primarily for residentialliving by human occupants and that contains not more than four dwellingunits or that contains single dwelling units owned as a condominium or in acooperative housing association, and vacant land classified as residentialproperty. The term "cooperative housing association" means an association,whether incorporated or unincorporated, organized for the purpose of owningand operating residential real property in Missouri, the shareholders ormembers of which, by reason of their ownership of a stock or membershipcertificate, a proprietary lease, or other evidence of membership, areentitled to occupy a dwelling unit pursuant to the terms of a proprietarylease or occupancy agreement;
(21) "Single agent", a licensee who has entered into a brokeragerelationship with and therefore represents only one party in a real estatetransaction. A single agent may be one of the following:
(a) "Buyer's agent", which shall mean a licensee who represents thebuyer in a real estate transaction;
(b) "Landlord's agent", which shall mean a licensee who represents alandlord in a leasing transaction;
(c) "Seller's agent", which shall mean a licensee who represents theseller in a real estate transaction; and
(d) "Tenant's agent", which shall mean a licensee who represents thetenant in a leasing transaction;
(22) "Subagent", a designated broker, together with the broker'saffiliated licensees, engaged by another designated broker, together withthe broker's affiliated or appointed affiliated licensees, to act as alimited agent for a client, or a designated broker's unappointed affiliatedlicensees engaged by the designated broker, together with the broker'sappointed affiliated licensees, to act as a limited agent for a client. Asubagent owes the same obligations and responsibilities to the clientpursuant to sections 339.730 to 339.740 as does the client's designatedbroker;
(23) "Transaction broker", any licensee acting pursuant to sections339.710 to 339.860*, who:
(a) Assists the parties to a transaction without an agency orfiduciary relationship to either party and is, therefore, neutral, servingneither as an advocate or advisor for either party to the transaction;
(b) Assists one or more parties to a transaction and who has notentered into a specific written agency agreement to represent one or moreof the parties; or
(c) Assists another party to the same transaction either solely orthrough licensee affiliates. Such licensee shall be deemed to be atransaction broker and not a dual agent, provided that, notice ofassumption of transaction broker status is provided to the buyer and sellerimmediately upon such default to transaction broker status, to be confirmedin writing prior to execution of the contract.
339.710. For purposes of sections 339.010 to 339.180, and sections339.710 to 339.860*, the following terms mean:
(1) "Adverse material fact", a fact related to the property notreasonably ascertainable or known to a party which negatively affects thevalue of the property. Adverse material facts may include matterspertaining to:
(a) Environmental hazards affecting the property;
(b) Physical condition of the property which adversely affects thevalue of the property;
(c) Material defects in the property;
(d) Material defects in the title to the property;
(e) Material limitation of the party's ability to perform under theterms of the contract;
(2) "Affiliated licensee", any broker or salesperson who works underthe supervision of a designated broker;
(3) "Agent", a person or entity acting pursuant to the provisions ofthis chapter;
(4) "Broker disclosure form", the current form prescribed by thecommission for presentation to a seller, landlord, buyer or tenant who hasnot entered into a written agreement for brokerage services;
(5) "Brokerage relationship", the relationship created between adesignated broker, the broker's affiliated licensees, and a client relatingto the performance of services of a broker as defined in section 339.010,and sections 339.710 to 339.860*. If a designated broker makes anappointment of an affiliated licensee or affiliated licensees pursuant tosection 339.820, such brokerage relationships are created between theappointed licensee or licensees and the client. Nothing in thissubdivision shall:
(a) Alleviate the designated broker from duties of supervision of theappointed licensee or licensees; or
(b) Alter the designated broker's underlying contractual agreementwith the client;
(6) "Client", a seller, landlord, buyer, or tenant who has enteredinto a brokerage relationship with a licensee pursuant to sections 339.710to 339.860*;
(7) "Commercial real estate", any real estate other than real estatecontaining one to four residential units or real estate classified asagricultural and horticultural property for assessment purposes pursuant tosection 137.016, RSMo. Commercial real estate does not include singlefamily residential units including condominiums, townhouses, or homes in asubdivision when that real estate is sold, leased, or otherwise conveyed ona unit-by-unit basis even though the units may be part of a larger buildingor parcel of real estate containing more than four units;
(8) "Commission", the Missouri real estate commission;
(9) "Confidential information", information obtained by the licenseefrom the client and designated as confidential by the client, informationmade confidential by sections 339.710 to 339.860* or any other statute orregulation, or written instructions from the client unless the informationis made public or becomes public by the words or conduct of the client towhom the information pertains or by a source other than the licensee;
(10) "Customer", an actual or potential seller, landlord, buyer, ortenant in a real estate transaction in which a licensee is involved but whohas not entered into a brokerage relationship with the licensee;
(11) "Designated agent", a licensee named by a designated broker asthe limited agent of a client as provided for in section 339.820;
(12) "Designated broker", any individual licensed as a broker who isoperating pursuant to the definition of real estate broker as defined insection 339.010, or any individual licensed as a broker who is appointed bya partnership, association, limited liability corporation, or a corporationengaged in the real estate brokerage business to be responsible for theacts of the partnership, association, limited liability corporation, orcorporation. Every real estate partnership, association, or limitedliability corporation, or corporation shall appoint a designated broker;
(13) "Designated transaction broker", a licensee named by adesignated broker or deemed appointed by a designated broker as thetransaction broker for a client pursuant to section 339.820;
(14) "Dual agency", a form of agency which may result when an agentlicensee or someone affiliated with the agent licensee represents anotherparty to the same transaction;
(15) "Dual agent", a limited agent who, with the written consent ofall parties to a contemplated real estate transaction, has entered into anagency brokerage relationship, and not a transaction brokeragerelationship, with and therefore represents both the seller and buyer orboth the landlord and tenant;
(16) "Exclusive brokerage agreement", means a written brokerageagreement which provides that the broker has the sole right, through thebroker or through one or more affiliated licensees, to act as the exclusivelimited agent, representative, or transaction broker of the client orcustomer that meets the requirements of section 339.780;
(17) "Licensee", a real estate broker or salesperson as defined insection 339.010;
(18) "Limited agent", a licensee whose duties and obligations to aclient are those set forth in sections 339.730 to 339.750;
(19) "Ministerial acts", those acts that a licensee may perform for aperson or entity that are informative in nature and do not rise to thelevel which requires the creation of a brokerage relationship. Examples ofthese acts include, but are not limited to:
(a) Responding to telephone inquiries by consumers as to theavailability and pricing of brokerage services;
(b) Responding to telephone inquiries from a person concerning theprice or location of property;
(c) Attending an open house and responding to questions about theproperty from a consumer;
(d) Setting an appointment to view property;
(e) Responding to questions of consumers walking into a licensee'soffice concerning brokerage services offered on particular properties;
(f) Accompanying an appraiser, inspector, contractor, or similarthird party on a visit to a property;
(g) Describing a property or the property's condition in response toa person's inquiry;
(h) Showing a customer through a property being sold by an owner onhis or her own behalf; or
(i) Referral to another broker or service provider;
(20) "Residential real estate", all real property improved by astructure that is used or intended to be used primarily for residentialliving by human occupants and that contains not more than four dwellingunits or that contains single dwelling units owned as a condominium or in acooperative housing association, and vacant land classified as residentialproperty. The term "cooperative housing association" means an association,whether incorporated or unincorporated, organized for the purpose of owningand operating residential real property in Missouri, the shareholders ormembers of which, by reason of their ownership of a stock or membershipcertificate, a proprietary lease, or other evidence of membership, areentitled to occupy a dwelling unit pursuant to the terms of a proprietarylease or occupancy agreement;
(21) "Single agent", a licensee who has entered into a brokeragerelationship with and therefore represents only one party in a real estatetransaction. A single agent may be one of the following:
(a) "Buyer's agent", which shall mean a licensee who represents thebuyer in a real estate transaction;
(b) "Landlord's agent", which shall mean a licensee who represents alandlord in a leasing transaction;
(c) "Seller's agent", which shall mean a licensee who represents theseller in a real estate transaction; and
(d) "Tenant's agent", which shall mean a licensee who represents thetenant in a leasing transaction;
(22) "Subagent", a designated broker, together with the broker'saffiliated licensees, engaged by another designated broker, together withthe broker's affiliated or appointed affiliated licensees, to act as alimited agent for a client, or a designated broker's unappointed affiliatedlicensees engaged by the designated broker, together with the broker'sappointed affiliated licensees, to act as a limited agent for a client. Asubagent owes the same obligations and responsibilities to the clientpursuant to sections 339.730 to 339.740 as does the client's designatedbroker;
(23) "Transaction broker", any licensee acting pursuant to sections339.710 to 339.860*, who:
(a) Assists the parties to a transaction without an agency orfiduciary relationship to either party and is, therefore, neutral, servingneither as an advocate or advisor for either party to the transaction;
(b) Assists one or more parties to a transaction and who has notentered into a specific written agency agreement to represent one or moreof the parties; or
(c) Assists another party to the same transaction either solely orthrough licensee affiliates. Such licensee shall be deemed to be atransaction broker and not a dual agent, provided that, notice ofassumption of transaction broker status is provided to the buyer and sellerimmediately upon such default to transaction broker status, to be confirmedin writing prior to execution of the contract.
339.710. For purposes of sections 339.010 to 339.180, and sections339.710 to 339.860*, the following terms mean:
(1) "Adverse material fact", a fact related to the property notreasonably ascertainable or known to a party which negatively affects thevalue of the property. Adverse material facts may include matterspertaining to:
(a) Environmental hazards affecting the property;
(b) Physical condition of the property which adversely affects thevalue of the property;
(c) Material defects in the property;
(d) Material defects in the title to the property;
(e) Material limitation of the party's ability to perform under theterms of the contract;
(2) "Affiliated licensee", any broker or salesperson who works underthe supervision of a designated broker;
(3) "Agent", a person or entity acting pursuant to the provisions ofthis chapter;
(4) "Broker disclosure form", the current form prescribed by thecommission for presentation to a seller, landlord, buyer or tenant who hasnot entered into a written agreement for brokerage services;
(5) "Brokerage relationship", the relationship created between adesignated broker, the broker's affiliated licensees, and a client relatingto the performance of services of a broker as defined in section 339.010,and sections 339.710 to 339.860*. If a designated broker makes anappointment of an affiliated licensee or affiliated licensees pursuant tosection 339.820, such brokerage relationships are created between theappointed licensee or licensees and the client. Nothing in thissubdivision shall:
(a) Alleviate the designated broker from duties of supervision of theappointed licensee or licensees; or
(b) Alter the designated broker's underlying contractual agreementwith the client;
(6) "Client", a seller, landlord, buyer, or tenant who has enteredinto a brokerage relationship with a licensee pursuant to sections 339.710to 339.860*;
(7) "Commercial real estate", any real estate other than real estatecontaining one to four residential units or real estate classified asagricultural and horticultural property for assessment purposes pursuant tosection 137.016, RSMo. Commercial real estate does not include singlefamily residential units including condominiums, townhouses, or homes in asubdivision when that real estate is sold, leased, or otherwise conveyed ona unit-by-unit basis even though the units may be part of a larger buildingor parcel of real estate containing more than four units;
(8) "Commission", the Missouri real estate commission;
(9) "Confidential information", information obtained by the licenseefrom the client and designated as confidential by the client, informationmade confidential by sections 339.710 to 339.860* or any other statute orregulation, or written instructions from the client unless the informationis made public or becomes public by the words or conduct of the client towhom the information pertains or by a source other than the licensee;
(10) "Customer", an actual or potential seller, landlord, buyer, ortenant in a real estate transaction in which a licensee is involved but whohas not entered into a brokerage relationship with the licensee;
(11) "Designated agent", a licensee named by a designated broker asthe limited agent of a client as provided for in section 339.820;
(12) "Designated broker", any individual licensed as a broker who isoperating pursuant to the definition of real estate broker as defined insection 339.010, or any individual licensed as a broker who is appointed bya partnership, association, limited liability corporation, or a corporationengaged in the real estate brokerage business to be responsible for theacts of the partnership, association, limited liability corporation, orcorporation. Every real estate partnership, association, or limitedliability corporation, or corporation shall appoint a designated broker;
(13) "Designated transaction broker", a licensee named by adesignated broker or deemed appointed by a designated broker as thetransaction broker for a client pursuant to section 339.820;
(14) "Dual agency", a form of agency which may result when an agentlicensee or someone affiliated with the agent licensee represents anotherparty to the same transaction;
(15) "Dual agent", a limited agent who, with the written consent ofall parties to a contemplated real estate transaction, has entered into anagency brokerage relationship, and not a transaction brokeragerelationship, with and therefore represents both the seller and buyer orboth the landlord and tenant;
(16) "Exclusive brokerage agreement", means a written brokerageagreement which provides that the broker has the sole right, through thebroker or through one or more affiliated licensees, to act as the exclusivelimited agent, representative, or transaction broker of the client orcustomer that meets the requirements of section 339.780;
(17) "Licensee", a real estate broker or salesperson as defined insection 339.010;
(18) "Limited agent", a licensee whose duties and obligations to aclient are those set forth in sections 339.730 to 339.750;
(19) "Ministerial acts", those acts that a licensee may perform for aperson or entity that are informative in nature and do not rise to thelevel which requires the creation of a brokerage relationship. Examples ofthese acts include, but are not limited to:
(a) Responding to telephone inquiries by consumers as to theavailability and pricing of brokerage services;
(b) Responding to telephone inquiries from a person concerning theprice or location of property;
(c) Attending an open house and responding to questions about theproperty from a consumer;
(d) Setting an appointment to view property;
(e) Responding to questions of consumers walking into a licensee'soffice concerning brokerage services offered on particular properties;
(f) Accompanying an appraiser, inspector, contractor, or similarthird party on a visit to a property;
(g) Describing a property or the property's condition in response toa person's inquiry;
(h) Showing a customer through a property being sold by an owner onhis or her own behalf; or
(i) Referral to another broker or service provider;
(20) "Residential real estate", all real property improved by astructure that is used or intended to be used primarily for residentialliving by human occupants and that contains not more than four dwellingunits or that contains single dwelling units owned as a condominium or in acooperative housing association, and vacant land classified as residentialproperty. The term "cooperative housing association" means an association,whether incorporated or unincorporated, organized for the purpose of owningand operating residential real property in Missouri, the shareholders ormembers of which, by reason of their ownership of a stock or membershipcertificate, a proprietary lease, or other evidence of membership, areentitled to occupy a dwelling unit pursuant to the terms of a proprietarylease or occupancy agreement;
(21) "Single agent", a licensee who has entered into a brokeragerelationship with and therefore represents only one party in a real estatetransaction. A single agent may be one of the following:
(a) "Buyer's agent", which shall mean a licensee who represents thebuyer in a real estate transaction;
(b) "Landlord's agent", which shall mean a licensee who represents alandlord in a leasing transaction;
(c) "Seller's agent", which shall mean a licensee who represents theseller in a real estate transaction; and
(d) "Tenant's agent", which shall mean a licensee who represents thetenant in a leasing transaction;
(22) "Subagent", a designated broker, together with the broker'saffiliated licensees, engaged by another designated broker, together withthe broker's affiliated or appointed affiliated licensees, to act as alimited agent for a client, or a designated broker's unappointed affiliatedlicensees engaged by the designated broker, together with the broker'sappointed affiliated licensees, to act as a limited agent for a client. Asubagent owes the same obligations and responsibilities to the clientpursuant to sections 339.730 to 339.740 as does the client's designatedbroker;
(23) "Transaction broker", any licensee acting pursuant to sections339.710 to 339.860*, who:
(a) Assists the parties to a transaction without an agency orfiduciary relationship to either party and is, therefore, neutral, servingneither as an advocate or advisor for either party to the transaction;
(b) Assists one or more parties to a transaction and who has notentered into a specific written agency agreement to represent one or moreof the parties; or
(c) Assists another party to the same transaction either solely orthrough licensee affiliates. Such licensee shall be deemed to be atransaction broker and not a dual agent, provided that, notice ofassumption of transaction broker status is provided to the buyer and sellerimmediately upon such default to transaction broker status, to be confirmedin writing prior to execution of the contract.
