Fill - Free fillable Form 8: Seller's Agency Listing Contract (Exclusive Right PDF form

Reference

Seller's Agency Listing Contract (Exclusive Right to Sell)

This document has legal consequences. If you do not understand it, consult your attorney.

RES-1010 Page 1 of 6

(whether one or more, "Owner")

hereby representing to be all of the owners of the following described Property, hereby appoints (Insert Brokerage Co. name)

("REALTOR®"), as

the sole and exclusive agent with exclusive right to sell, to find a buyer for the following property (the "Property"):

Street Address City State Zip Code County

(check box if legal description attached. If no legal description is provided, then the legal description on Owner's vesting

deed(s) to govern, which may however be confirmed by a survey, if any, obtained pursuant to a sale contract for the Property

hereafter entered into by Owner) for the period beginning with the Effective Date and ending at 11:59 p.m. on

,, 20 (together with any written extension thereof, the "Listing Period") at the sale price

of $ and terms of cash, or for any other price or terms to which Owner shall consent, and under

the following special terms (if any): .

Owner acknowledges that the efforts and endeavors of REALTOR® to procure a buyer, by expenditure of time and money,

through advertising, co-brokers or otherwise, shall constitute good and sufficient consideration for this Listing Contract. Owner

possibility of confusion over agency relationship and misunderstandings about liability for compensation.

If a ready, willing and able buyer is procured by REALTOR®, its affiliated licensee(s), Owner, or any other broker or person

during the Listing Period, then Owner shall pay to REALTOR® (indicate % of sales price, or

If REALTOR®'s company policy authorizes any such cooperation, then the amount of compensation that will be offered by

differs as to brokers who are not participants in the Multi-Listing Service in which REALTOR® is a participant ("MLS" );

excludes particular brokers, whether or not participants in the MLS; or is otherwise limited):

$or% of sale price to subagents of REALTOR®; (i.e., limited agents representing Owner);

$or% of sale price to buyer's agents; (i.e., limited agents representing prospective buyers);

$or% of sale price to transaction brokers; (i.e., neutral licensees representing neither party).

(check only if applicable) REALTOR®'s offer of compensation is not available to brokers other than MLS participants.

(check only if applicable) REALTOR® 's offer of compensation excludes the following specific brokers; or is otherwise

limited (explain):

DISCLOSURE AUTHORIZATIONS. Owner (check one)

Motivating Factors. DOES DOES NOT permit REALTOR® to disclose the following motivating factors for Owner in

selling the Property:

Offers. DOES DOES NOT permit REALTOR® to disclose the existence of offers on the Property.

Terms. DOES

CURRENT EXCLUSIVE REPRESENTATION AGREEMENT. Owner (check one) IS IS NOT a party to any other

exclusive representation agreement with respect to the sale of the Property. If Owner is a party to such an exclusive

representation agreement, such agreement ends (date)

will refer all inquiries and prospects Owner may receive during the Listing Period, from any source, to REALTOR® to avoid the

DOES NOT permit REALTOR® to disclose the terms of offers on the Property; provided, however, that

REALTOR® is permitted to disclose such terms as may be required by the MLS, applicable brokerage law or the National

ssociation of REALTORS® Code of Ethics and Standards of Practice (e.g., that the Property is "under contract").

REALTOR® shall be as follows (indicate a specific dollar amount, or the percentage of sale price, that will be offered for each

applicable cooperating brokerage relationship. Also specify if REALTOR®'s company policy regarding shared compensation

specific dollar amount) as compensation due REALTOR® for services rendered hereunder. Such compensation shall also be

paid if the Property is exchanged, optioned, sold, conveyed or otherwise transferred within

expiration of the Listing Period (the "Protection Period") to anyone who was introduced to the Property by anyone during the

Listing Period; provided Owner has received notice in writing, including the name of the prospective buyers, before or upon

expiration of the Listing Period. It is understood and agreed that REALTOR®'s presentation of an offer during the Listing

Period shall constitute notice hereunder with respect to the prospects identified thereon. However, Owner shall not be

obligated to pay such compensation if a new valid exclusive listing contract is entered into during the Protection Period with

another licensed real estate broker, the exchange, option, sale, conveyance, or transfer of the Property is made during the

Protection Period, and Owner pays the new listing broker a commission on the closing of that transaction.

days after

In addition, Owner agrees to pay REALTOR®, as additional compensation due REALTOR® for services rendered hereunder,

an amount equal to $

REALTOR® on (check whichever applies):

the Effective Date of this Listing Contract, regardless of whether or not a ready, willing and able buyer is procured; or

only if and on the same date that the other compensation above provided for is payable.

. This portion of the compensation shall be due and payable to

BROKER COOPERATION AND SHARED COMPENSATION POLICY. REALTOR®'s company policy authorizes

REALTOR® or REALTOR®'s representatives to cooperate with other brokers acting pursuant to the following brokerage

relationships, as defined by Section 339.710 RSMo. (Insert shared compensation amounts [or "zero"] below to indicate that

such cooperation is authorized by REALTOR®'s company policy. Insert "N/A" below to indicate that such cooperation is not

authorized, whether by company policy or otherwise. Note: Even if compensated by REALTOR® or Owner, it is understood

that cooperating brokers may represent the interests of buyers only).

Reference

RES-1010

Page 2 of 6

GENERAL CONDITIONS

1. Owner Disclosures.

A. Property Data and Disclosure Statement. Owner acknowledges having read and approved the information

contained in the Property Data Form (if any) regarding the Property, and that REALTOR®

is authorized to rely upon said

information in advertising and promoting the Property. Owner (check one)

DOES DOES NOT agree to complete and

deliver to REALTOR® a Disclosure Statement form. Owner authorizes REALTOR® to provide to prospects any such

Disclosure Statement and information contained in any such Property Data Form. Owner represents that all information in the

Disclosure Statement and Property Data Form (if any) is (or when delivered will be) true and accurate to the best knowledge of

Owner, and that Owner will fully and promptly disclose in writing to REALTOR® any new information pertaining to the Property

that is discovered by or made known to Owner at any time prior to closing or settlement and constitutes an adverse material

fact or would make any existing information in the Disclosure Statement or Data Form false or materially misleading, and to

sign such revised form(s) as may be necessary. Owner further agrees to promptly furnish REALTOR® with all inspection

reports (if any) regarding the Property, and authorizes REALTOR® to disclose and provide such reports to prospects.

C. Lead-Based Paint Disclosure. (Check (1) or (2))

(2) The sale or lease of this Property is not exempt from the disclosure obligations under 42 U.S.C. 4852d.

See Lead-Based Paint Disclosure Form.

E. Indemnity.

2. Title/Survey. Owner shall furnish an abstract certified to date showing marketable title, a policy of title insurance, or

evidence of insurability, and shall convey the Property if and when sold by a good and sufficient warranty deed as may be

required pursuant to the terms of any sale or other contract affecting the Property and governed by this Listing Contract.

Owner agrees to promptly furnish REALTOR® with a copy of any available survey report.

3. Taxes and Assessments. Owner shall pay in full all state, county and municipal taxes and assessments, general

and special, which are a lien on the Property, except taxes for the calendar year in which the closing occurs, which shall be

prorated as of the date of delivery of the deed. If the current amount of taxes cannot be then ascertained, proration may be

computed on the amount of taxes for the preceding calendar year.

4. Earnest Money/Liquidated Damages. Owner authorizes REALTOR® to accept earnest money to be applied on the

sale price and to place the earnest money in an escrow account until closing, or as otherwise directed in any contract

accepted by Owner. Unless subsequently agreed to the contrary in a written agreement specifically mentioning and amending

this General Condition 4, in the event of nonperformance by a buyer under a contract, through no fault of REALTOR®, any

connection with such contract and the balance to be paid one-half (1/2) to Owner and one-half (1/2) to REALTOR® in lieu of

further compensation; provided, however, REALTOR® shall in no event receive any more money in lieu of compensation than

the total amount agreed to herein as compensation for brokerage services.

5. MLS/Cooperation/Lock Boxes. Owner authorizes REALTOR®: (A) to file part or all of the information set forth in

this Listing Contract with the MLS for dissemination to other MLS participants in accordance with the rules of the MLS and any

agreements between REALTOR® and individual participants, and to provide such participants, the Association/Boards of

REALTORS®, their members, member prospects, appraisers and other professional users of real estate sales data, with

information, including the sale price and Property address, both prior to and after the closing of any sale of the Property; (B) to

earnest money surrendered to Owner shall go first toward reimbursing expenses of Owner or REALTOR® incurred in

Representations. Owner further represents that, except as may be noted on a Disclosure Statement, Property

Data Form or otherwise in writing: (1) Owner knows of no actual or proposed special subdivision, homeowner's association or

condominium assessments; (2) Owner knows of no other adverse material facts which negatively affect the value of the

Property; and (3) to the best of Owner's knowledge, all of the mechanical elements of the Property and the appliances being

sold therewith are in proper working condition or will be restored as may be required pursuant to the terms of any sale or other

contract entered into by Owner affecting the Property and governed by this Listing Contract. This representation shall not be

construed to be a warranty of condition, but only of the knowledge and opinion of Owner. Owner agrees to fully inform and

advise REALTOR® if there is a likelihood that Owner's net sale proceeds will be insufficient to pay off at closing, all loans

secured by the Property plus any liens and closing costs. In such case, it may be necessary to attach MAR form MSC-1025

(Short Sale Supplement to Listing Contract).

Owner agrees to hold REALTOR®, all cooperating brokers and their respective affiliated licensees

and employees harmless for any damages, actions, claims, demands, suits, losses or expenses (including reasonable

attorney's fees) arising out of any misrepresentation, nondisclosure or concealment by Owner in connection with the sale or

lease of the Property, including without limitation, the inaccuracy of information contained in any Property Data Form or

Disclosure Statement or otherwise provided or omitted by Owner. Owner agrees to thoroughly review all listing information

prepared by REALTOR® and advise REALTOR® immediately in writing of any errors or omissions. Owner agrees that Owner

will personally assume all responsibility for any claims made by a buyer, tenant or other third party at any time with respect to

any omissions or errors contained in any information provided to REALTOR®. REALTOR® shall not be responsible in any

manner for any such errors or omissions.

cooperate with and offer compensation to other brokers acting pursuant to any brokerage relationship in accordance with

REALTOR®'s company policy as set forth herein; and (C) to place a lock box on the Property, which allows REALTOR® and

authorized cooperating brokers access to keys to the Property. Owner shall, without limitation, indemnify and hold harmless

REALTOR®, the Association/Boards of REALTORS®, the participants, lock box manufacturer and lock box distributor/service

center against and from any and all actions, suits, expenses, damages and liabilities, including attorney's fees, arising out of,

(1) Owner represents and warrants that the sale or lease of the above Property is exempt from the disclosure obligations

under 42 U.S.C. 4852d because (a) the Property is not residential real Property or (b) the Property was constructed in 1978 or

later, or (c) other (Describe)

B. Notice of Intended Sale. Owner acknowledges that under § 429 RSMo., if owner has contracted with anyone

for the provision of work, labor or materials for the property, owner may be required to post and record a "notice of intended

sale" at least 45 days before the earliest date on which the owner intends to close, in order to assure that the owner can

deliver clear title at closing. If work, labor or materials have been provided, owner should seek advice to comply with this law.

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RES-1010 Page 3 of 6

9. Legal and Professional Advice. REALTOR® suggests Owner seek legal, tax and other professional advice relative

to any real estate transaction. REALTOR® makes no representation or warranty respecting the advisability of any transaction,

and is not an expert in matters relating to law, tax, financing, surveying, structural or mechanical condition, hazardous

materials, engineering or other specialized topics. Owner is encouraged to seek expert help in such areas. REALTOR® will

cooperate with experts selected and engaged by Owner, but REALTOR® shall have no liability pertaining to such matters.

10. Franchise Disclosure. (REALTOR® to check box only if applicable).

REALTOR® is a member of a franchise and pursuant to the terms of its franchise agreement, the franchisor has no legal

liability for the actions of REALTOR®, despite its use of franchisor's trade name or insignia.

11.

12. Owner Consent to Brokerage Relationships:

A. Seller Limited Agency as Starting Point; Effect of In-House Sales. Pursuant to this Listing

offer a warranty plan; not offer a warranty plan;

Advertising. Owner authorizes REALTOR® to take and use photographs and videotapes of the interior and exterior

of the improvements located on the Property, to place a "For Sale" sign on the Property, to remove all other signs, and to

otherwise advertise the Property in any manner deemed wise by REALTOR®, including but not limited to (unless specified

otherwise) advertising on the Internet, virtual tours, web-sites, trade journals and any other medium, and communications via

e-mail and facsimile.

Inspections/Access. Owner authorizes: (A) REALTOR®, cooperating brokers and their respective licensee(s) to

show the Property to prospects; and (B) the foregoing, plus such prospects and their lenders, appraisers and inspectors, to

make, or allow third parties to make, such inspections of the Property as are deemed necessary, including but not limited to

taking photographs or videotapes of the interior and exterior of the improvements located on the Property; upon reasonable

notice to Owner and at all reasonable times. The opinions resulting from such inspections may be disclosed to interested

parties. Owner agrees to secure and (if Owner so desires) insure all property and valuables (including firearms), to assume

the risk for any vandalism, theft or damage of any kind, and to maintain the Property in good repair through the date of closing.

Contract, REALTOR® will initially be acting in the capacity of Owner's limited agent, with the duties and obligations of a

seller's limited agent under Missouri law as set forth following the parties' signatures below. However, Owner acknowledges

that from time to time, a prospective buyer may engage REALTOR® to act in one of several possible capacities with respect to

that buyer, depending on what brokerage relationships are permitted by REALTOR®'s company policy. The following

subsections describe circumstances where Missouri law may permit or require a conversion of REALTOR®'s brokerage

relationship with Owner to a different brokerage relationship. Complete each subsection. Disclosure of any conversion to a

different brokerage relationship shall be made upon its occurrence as may be required by rule or regulation.

If a prospective buyer has engaged REALTOR® to act in the capacity of a buyer's agent, Missouri law permits REALTOR® to

show the Property to and otherwise represent the buyer, as a dual agent representing both Owner and the buyer, with the

written consent of all parties. In such case, REALTOR® may act as a dual agent with the duties and obligations of a dual

agent under Missouri law as set forth following the parties' signatures below.

Does Owner consent to REALTOR® representing both Owner and a buyer as a dual agent? (Check one of the following):

Brokerage. Missouri law permits REALTOR® to appoint one or more licensees affiliated with REALTOR® as designated

agent(s), to represent Owner as limited agent(s), to the exclusion of all other affiliated licensees.

Does Owner consent to REALTOR®'s appointment of designated agent(s)? (Check one of the following):

n individual broker, designated broker or office manager/supervising broker affiliated with REALTOR® shall not be

considered to be a dual agent or transaction broker solely because such broker has appointed one or more affiliated

licensee(s) to represent Owner to the exclusion of all other affiliated licensees of REALTOR®; however, any licensee who

personally represents both Owner and the buyer in the same transaction shall be a dual agent or a transaction broker.

Further, if such broker supervises the licensees for both sides of a transaction, that broker will be a dual agent or a transaction

broker upon learning confidential information about either party to a transaction or upon being consulted by any licensee

involved in the transaction. Also, when the broker supervises the licensee representing or assisting one (1) side of the

transaction and personally represents or assists the other side, that broker will be a dual agent or a transaction broker. Any

such broker or licensee shall be required to comply with the provisions regarding dual agent or transaction brokers under

Missouri law as set forth following the parties' signatures below.

Conversion to Dual Agency Where REALTOR® Is Engaged by Buyer to Act as Buyer's Agent.

Not applicable because dual agency is not offered by REALTOR®'s company policy.NoYes

Designated Agents for Owner and Buyer; Possible Conversion to Dual Agency or Transaction

NoYes Not applicable because designated agency is not offered by REALTOR®'s company policy.

Buyer's Agent or Transaction Broker. If a prospective buyer has engaged REALTOR® to act in the capacity of buyer's

agent or transaction broker, Missouri law permits REALTOR® to show the Property to and otherwise assist the buyer, as a

transaction broker assisting both Owner and the buyer without an agency relationship to either of them, with the written

consent of all parties. In such case, REALTOR® may act as a transaction broker with the duties and obligations of a

transaction broker under Missouri law as set forth following the parties' signatures below. Note: If REALTOR® wishes to

convert to transaction brokerage but Owner does not consent to such conversion, then REALTOR® may without liability

withdraw from representing Owner. Such withdrawal shall not prejudice the ability of REALTOR® to continue to represent the

Conversion to Transaction Brokerage Where REALTOR® Is Engaged by Buyer to Act as

consider at a later date. If Owner agrees to offer a

warranty plan, a separate application defining the coverage of the program will be signed and REALTOR® may receive a fee

from the warranty company to cover processing and administration of the plan.

Warranty Program. Owner acknowledges the availability of home warranty protection plans, and agrees to

(check one):

Equal Opportunity. The Property shall be offered for sale without regard to race, color, religion, sex, handicap,

familial status, national origin or sexual orientation, and in accordance with all local, state, and federal fair housing laws.

connected with or resulting from the use of a lock box. Owner shall not, however, indemnify or hold lock box users harmless

for claims arising out of the intentional or grossly negligent acts of the lock box users.

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RES-1010 Page 4 of 6

13.

Obligations" on the following pages of this form, and that pursuant to Missouri law, REALTOR®, through its designated broker

and/or through one or more affiliated licensees, shall provide, at a minimum, the following services:

Property;

notices that relate to the offers and the counteroffers until a lease or purchase agreement is signed and all

contingencies are satisfied or waived; and

14.

Minimum Brokerage Services (§339.780.7 RSMo.). Owner acknowledges having read the applicable "Duties and

ccept delivery of and present to Owner or customers offers and counteroffers to buy, sell, or lease Owner's

ssist Owner or customers in developing, communicating, negotiating, and presenting offers, counteroffers, and

nswer Owner or customer questions relating to the offers, counteroffers, notices, and contingencies.

15.

to the signature of the last party to sign this Listing Contract or (specify if otherwise)

LISTING CONTRACT ACCEPTED

Effective Date. The "Effective Date" shall be the date of final acceptance hereof, as indicated by the date adjacent

By signing below, Owner indicates that Owner has ACCEPTED this Listing Contract and acknowledges receipt of one (1) copy

hereof. Owner also confirms receipt of a Missouri Real Estate Commission Broker Disclosure Form on or before signing this Listing

Contract, or upon REALTOR®'s obtaining any personal or financial information, whichever occurred first.

Does Owner consent to REALTOR® assisting both Owner and a buyer as a transaction broker? (Check one of the following):

appoint one or more licensees affiliated with REALTOR® as designated transaction broker(s), to assist Owner without an

agency relationship, to the exclusion of all other affiliated licensees.

Does Owner consent to REALTOR®'s appointment of designated transaction broker(s)? (Check one of the following):

Not applicable because transaction brokerage is not offered by REALTOR®'s company policy.

NoYes

Not applicable because designated transaction brokerage is not offered by REALTOR®'s company policy.NoYes

Designated Transaction Broker for Owner and Buyer. Missouri law permits REALTOR® to

Signatures. This Listing Contract may be executed in multiple counterparts, each of which shall be deemed an

original, but all of which shall constitute one and the same instrument. For purposes of executing this Listing Contract, a

document signed and/or transmitted by any electronic form deemed valid in accordance with the Missouri Uniform Electronic

Transactions Act, including but not limited to by facsimile machine, digital signature or a scanned image, such as a pdf via e-

mail, is to be treated as an original signature and document. At the request of any party, the others will confirm facsimile or

scanned image signatures by signing an original instrument. Owner and REALTOR

changes to this Listing Contract may be made via the email addresses set forth below (mark the e-mail address lines "N/A" or

"Not Authorized" if not so authorized).

expressly acknowledge and agree that

pproved by legal counsel for use exclusively by members of the Missouri Association of REALTORS®, Columbia, Missouri. No warranty is

made or implied as to the legal validity or adequacy of this Listing Contract, or that it complies in every respect with the law or that its use is

appropriate for all situations. Local law, customs and practice, and differing circumstances in each transaction, may each dictate that

16. Special Agreements.

other client in the transaction or limit REALTOR® from representing Owner in another transaction not involving transaction

brokerage.

By: Date:

Designated Broker (or office manager/supervising broker)

Owner

Listing REALTOR®'s Firm Name Print Name:

Print Name:

Title:

Owner

Print Name:

Email Address:

Owner's Address

Date:

Email Address:

Date:

Owner

Print Name:

Email Address:

Date:

Owner's Address

Email Address:

The following is to be completed only if designated

agency is permitted and authorized as set forth above.

REALTOR® hereby appoints the following affiliated

licensee(s) as designated agent(s) to represent Owner to

the exclusion of all other affiliated licensees.

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SELLER'S (OR LANDLORD'S) AGENT'S DUTIES AND OBLIGATIONS (§ 339.730, RSMo.)

licensee representing a seller or landlord as a seller's agent or a landlord's agent shall be a limited agent with

the following duties and obligations:

(A) To perform the terms of the written agreement made with the client;

(B) To exercise reasonable skill and care for the client;

(i) Seeking a price and terms which are acceptable to the client, except that the licensee shall not be

obligated to seek additional offers to purchase the Property while the Property is subject to a contract for sale or to seek

additional offers to lease the Property while the Property is subject to a lease or letter of intent to lease;

(ii) Presenting all written offers to and from the client in a timely manner regardless of whether the

Property is subject to a contract for sale or lease or a letter of intent to lease;

(iii) Disclosing to the client all adverse material facts actually known or that should have been known by

the licensee; and

(iv)

dvising the client to obtain expert advice as to material matters about which the licensee knows but

the specifics of which are beyond the expertise of the licensee.

(D) To account in a timely manner for all money and Property received;

(E) To comply with all requirements of sections 339.710 to 339.860, subsection 2 of section 339.100, and any

rules and regulations promulgated pursuant to those sections; and

(F) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including

fair housing and civil rights statutes and regulations.

licensee acting as a seller's or landlord's agent shall not disclose any confidential information about the client

unless disclosure is required by statute, rule or regulation or failure to disclose the information would constitute a

misrepresentation or unless disclosure is necessary to defend the affiliated licensee against an action of wrongful

conduct in an administrative or judicial proceeding or before a professional committee. No cause of action shall arise

against a licensee acting as a seller's or landlord's agent for making any required or permitted disclosure.

licensee acting as a seller's or landlord's agent owes no duty or obligation to a customer, except that a

licensee shall disclose to any customer all adverse material facts actually known or that should have been known by the

licensee. A seller's or landlord's agent owes no duty to conduct an independent inspection or discover any adverse

material facts for the benefit of the customer and owes no duty to independently verify the accuracy or completeness of

any statement made by the client or any independent inspector.

seller's or landlord's agent may show alternative properties not owned by the client to prospective buyers or

tenants and may list competing properties for sale or lease without breaching any duty or obligation to the client.

seller or landlord may agree in writing with a seller's or landlord's agent that other designated brokers may be

retained and compensated as subagents. Any designated broker acting as a subagent on the seller's or landlord's

behalf shall be a limited agent with the obligations and responsibilities set forth in subsections 1 to 4 of this section.

DUAL AGENT'S DUTIES AND OBLIGATIONS (§ 339.750, RSMo.)

dual agent shall be a limited agent for both the seller and buyer or the landlord and tenant and shall have the

following duties and obligations:

1. Except as provided below, a dual agent may disclose any information to one client that the licensee gains from

the other client if the information is material to the transaction unless it is confidential information as defined in section

339.710(8), R.S.Mo.

2. The following information shall not be disclosed by a dual agent without the consent of the client to whom the

information pertains:

(A) That a buyer or tenant is willing to pay more than the purchase price or lease rate offered for the Property;

(B) That a seller or landlord is willing to accept less than the asking price or lease rate for the Property;

(D) That a client will agree to financing terms other than those offered; and

(E) The terms of any prior offers or counter offers made by any party.

dual agent shall not disclose to one client any confidential information about the other client unless the

disclosure is required by statute, rule or regulation or failure to disclose the information would constitute a

misrepresentation or unless disclosure is necessary to defend the affiliated licensee against an action of wrongful

conduct in an administrative or judicial proceeding or before a professional committee. No cause of action for any

person shall arise against a dual agent for making any required or permitted disclosure. A dual agent does not

terminate the dual agency relationship by making any required or permitted disclosure.

4. In a dual agency relationship there shall be no imputation of knowledge or information between the client and

the dual agent or among persons within an entity engaged as a dual agent.

RES-1010 Page 5 of 6

Reference

TRANSACTION BROKER'S DUTIES AND OBLIGATIONS (§ 339.755, RSMo.)

real estate licensee may provide real estate service to any party in a prospective transaction without an

agency or fiduciary relationship to one or more parties to the transaction. Such licensee shall be called a transaction

broker.

transaction broker shall have the following duties and obligations:

(A) To perform the terms of any written or oral agreement made with any party to the transaction;

(B) To exercise reasonable skill, care and diligence as a transaction broker, including but not limited to:

(i) Presenting all written offers and counteroffers in a timely manner regardless of whether the Property is

subject to a contract for sale or lease or a letter of intent unless otherwise provided in the agreement entered with the

party;

(ii) Informing the parties regarding the transaction and suggesting that such parties obtain expert advice

as to material matters about which the transaction broker knows but the specifics of which are beyond the expertise of

such broker;

(iii)

ccounting in a timely manner for all money and Property received;

(iv) To disclose to each party to the transaction any adverse material facts of which the licensee has actual

notice or knowledge;

(v)

ssisting the parties in complying with the terms and conditions of any contract;

(vi) The parties to a transaction brokerage transaction shall not be liable for any acts of the transaction

broker.

3. The following information shall not be disclosed by a transaction broker without the informed consent of the

party or parties disclosing such information to the broker;

(A) That a buyer or tenant is willing to pay more than the purchase price or lease rate offered for the Property;

(B) That a seller or landlord is willing to accept less than the asking price or lease rate for the Property;

(D) That a seller or buyer will agree to financing terms other than those offered;

(E)

ny confidential information about the other party, unless disclosure of such information is required by law,

statute, rules or regulations or failure to disclose such information would constitute fraud or dishonest dealing.

transaction broker has no duty to conduct an independent inspection or investigation for adverse material

facts for the parties.

transaction broker has no duty to conduct an independent investigation of the buyer's financial condition.

transaction broker may do the following without breaching any obligation or responsibility:

(A) Show alternative properties not owned by the seller or landlord to a prospective buyer or tenant;

(B) List competing properties for sale or lease;

(D) Serve as a single agent, subagent or designated agent or broker, limited agent, disclosed dual agent for

the same or for different parties in other real estate transactions.

7. In a transaction broker relationship each party and the transaction broker, including all persons within an entity

engaged as the transaction broker if the transaction broker is an entity, are considered to possess only actual

knowledge and information. There is no imputation of knowledge or information by operation of law between any party

and the transaction broker or between any party and any person within an entity engaged as the transaction broker if

the transaction broker is an entity.

transaction broker may cooperate with other brokers and such cooperation does not establish an agency or

subagency relationship.

9. Nothing in this section prohibits a transaction broker from acting as a single limited agent, dual agent or

subagent whether on behalf of a buyer or seller, as long as the requirements governing disclosure of such fact are met.

10. Nothing in this section alters or eliminates the responsibility of a broker as set forth in this section for the

conduct and actions of a licensee operating under the broker's license.

11.

transaction broker shall:

(A) Comply with all applicable requirements of sections 339.710 to 339.860, subsection 2 of section 339.010

and all rules and regulations promulgated pursuant to such sections; and

(B) Comply with any applicable federal, state and local laws, rules, regulations and ordinances, including fair

housing and civil rights statutes and regulations.

RES-1010 Page 6 of 6

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