Missouri 48-Hour Salesperson Course Exam Prep: Licensing
Missouri Real Estate Commission Overview
Commission Composition - ️ The Missouri Real Estate Commission board comprises seven members—six brokers and one
unlicensed consumer. Members are nominated by the MREC president and appointed...
- ✔️ The Missouri Real Estate Commission board comprises seven members—six brokers and one
unlicensed consumer. Members are nominated by the MREC president and appointed by the governor.
Experience Requirements
- ✔️ To qualify for the MREC board, brokers need at least 10 years of experience. Commission members
serve five-year terms.
MREC Responsibilities
- ✔️ The MREC implements Section 339 of the Missouri Revised Statutes, overseeing the examination,
licensing, and regulation of real estate professionals.
Violation Penalties
Maximum Penalty for License Violations
- ✔️ The maximum penalty for a single license law violation is $2,500.
Cumulative Penalties
- ✔️ The highest cumulative penalty for multiple license law violations is $25,000.
Authorized Acting Members
- ✔️ Actions of the MREC can be executed by board members, officers, employees, agents, and
representatives.
Dispute Settlements
Disputes Not Settled by MREC
, - ✔️ The MREC does not resolve commission disputes.
Mediation and Arbitration for Commission Disputes
- ✔️ The Missouri Association of REALTORS® offers mediation and arbitration services for its members
regarding commission disputes.
Real Estate Licensure Categories
Types of Licenses in Missouri
- ✔️ There are three categories of real estate licensure: Broker, Broker-Salesperson, and Salesperson.
1. Broker
- ✔️ An individual, firm, company, or corporation that provides real estate services for compensation.
2. Broker-Salesperson
- ✔️ A licensed broker who opts to work under another broker after relinquishing their broker license.
3. Salesperson
- ✔️ An individual affiliated with a licensed broker who performs real estate duties under that
broker’s supervision.
General Qualifications for Licensure
Requirements for Licensure
- ✔️ Applicants must demonstrate good moral character, possess a reputation for honesty and fair
dealings, and exhibit competency to conduct real estate transactions that protect public interests.
Minimum Age Requirement
- ✔️ Applicants must be at least 18 years old to qualify for licensure.
Real Estate Salesperson License Requirements
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