Broker Lisa Tran operates a busy residential brokerage. Within the same brokerage, salesperson Aaron represents the seller of a property and salesperson Beth represents the buyer. Lisa designates Aaron as the seller's designated agent and Beth as the buyer's designated agent. Lisa herself remains as the supervising broker but does not represent either party. A dispute arises, and the seller claims Lisa is a dual agent who owes fiduciary duties to both parties. Under Missouri law, which statement is most accurate?
Correct Answer
B) Lisa is not a dual agent; under Missouri's designated agency framework, each designated agent represents only their respective client, and the broker serves in a supervisory capacity without dual agency obligations
Missouri's designated agency framework, established under RSMo Chapter 339 and MREC rules, specifically allows a broker to designate individual salespersons to represent opposing parties within the same transaction without creating dual agency. When Lisa properly designates Aaron as the seller's agent and Beth as the buyer's agent, each designated agent owes full fiduciary duties only to their respective client. The supervising broker (Lisa) maintains supervisory responsibilities but does not assume dual agency obligations. This is a key distinction between designated agency and dual agency under Missouri law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
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