12.15 Transaction Brokerage

• Library: Real Estate Practice Deskbook (2019 Ed.)

D. (§12.15) Transaction Brokerage

The duties and responsibilities of a transaction broker are set forth in § 339.755.2, RSMo 2016, as follows:

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

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

(a) 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;

(b) Informing the parties regarding the transaction and suggesting that such parties obtain expert advice as to material matters about...