Marcus, a Missouri licensed salesperson at Riverfront Realty, is working with buyer Elena. After several showings, Elena decides to make an offer on a home listed by Riverfront Realty — the same brokerage. Marcus's broker, without designating separate agents, decides to represent both Elena and the seller personally. What disclosure obligation is triggered, and what must be obtained before proceeding?
Correct Answer
D) The broker must disclose the dual agency relationship and obtain written informed consent from both Elena and the seller before proceeding.
Under Missouri law (RSMo § 339.730), dual agency — where a single broker or agent represents both the buyer and the seller in the same transaction — is permissible only with the written informed consent of both parties. The broker must fully disclose the dual agency relationship, explain the limitations it places on the broker's duties to each party, and obtain written consent from both Elena and the seller before proceeding with the transaction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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