A licensee must make required written brokerage disclosures to clients and customers.
Before you read
Test yourself first: 5 questions
Question 1 of 5
Missouri specifically authorizes a brokerage relationship in which the broker assists a buyer or seller in a transaction WITHOUT acting as that party's advocate or owing them fiduciary loyalty. This relationship is the:
Answer: A. Missouri's brokerage model includes the transaction broker, who assists one or both parties without being an advocate and without owing the fiduciary loyalty/confidentiality of a single agent. It is a non-agency assistance role distinct from client representation.
Question 2 of 5
Which of the following arrangements is prohibited for Missouri licensees because it creates a conflict of interest in pricing the owner's property?
Answer: B. Net listings, where the broker keeps everything above a net price set by the seller, are prohibited in Missouri because they create an incentive to overprice or underserve the seller. Exclusive-right-to-sell, open, and exclusive-agency listings are permitted.
Question 3 of 5
Which Missouri agency is responsible for licensing real estate salespersons and brokers and for administering the state's real estate license law?
Answer: B. The Missouri Real Estate Commission (MREC), housed within the Division of Professional Registration, licenses salespersons and brokers and administers and enforces the state's real estate license law. Trade associations like the Missouri Association of REALTORS are private membership groups, not the licensing authority.
Question 4 of 5
In Missouri, when a designated broker assigns one affiliated licensee to represent the seller and a different affiliated licensee to represent the buyer in the same transaction, this arrangement is called:
Answer: B. Missouri permits designated agency, in which the broker designates different licensees within the firm to act as agents for the seller and the buyer respectively. The designated agents each owe full fiduciary duties to their own client, unlike the limited duties under dual agency.
Question 5 of 5
Missouri's brokerage relationship law recognizes a non-agency relationship in which the licensee assists parties in a transaction without representing either as an advocate. What is this relationship called?
Answer: C. Missouri statutorily recognizes the transaction broker, a non-agent who assists one or more parties in a transaction without being an advocate for either party's interests. This differs from agency relationships such as seller's agent, buyer's agent, dual agent, or designated agent.
Keep the streak going with more questions like these, each with a full rationale.
Must-know rules
- Brokerage relationship options: seller agent, buyer agent, dual agent, designated agent, transaction broker, and subagent.
- A licensee must make required written brokerage disclosures to clients and customers.
- The Broker Disclosure form is used to disclose the brokerage relationship to the parties.
- Dual agency and designated agency require informed written consent of the affected parties.
- A transaction broker assists parties without acting as an advocate or agent for either side.
- Licensees owe statutory duties of honesty, confidentiality, and accounting consistent with the relationship.
- Disclosure of the relationship should occur at the appropriate point in the transaction.
Missouri Agency Model Quick Reference: FAQs
Is Missouri Agency Model Quick Reference on the real estate exam?
Yes. State License Law is a scored domain on the Missouri real estate licensing exam, and this topic appears in the state license-law portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
Does Missouri test this differently?
Missouri applies its own license law on top of the national portion. This page covers the Missouri rules specifically, which is what the state section of your exam tests.
