Real Estate- Missouri Law Verified A+ - An unlicensed secretary is the only one in a residential real estate office when Broker Carr from
another company calls requesting information on a property. The secretary may: ️ Take his name and
have a licensee return the call - Chapter 339 of the Mis...
- An unlicensed secretary is the only one in a residential real estate office when Broker Carr from
another company calls requesting information on a property. The secretary may: ✔️ Take his name and
have a licensee return the call
- Chapter 339 of the Missouri Statutes is also known as: ✔️ License law
- A salesperson licensed in another state but NOT in Missouri comes into Missouri and refers her brother
to a real estate company in Missouri to assist him in the purchase of a home. The salesperson did this
with the knowledge and permission of her broker, and the salesperson's broker cooperated with a
Missouri broker in the sale of the property. What commission is she due? ✔️ Her commission would be
based on her agreement with her broker
- Which of the following would require a real estate license? ✔️ A person who negotiates or helps
consumers consummate option to buy or sell real estate
- Which must be licensed by the Missouri Real Estate Commission ✔️ The publisher of a magazine to
aid "for sale by owners" in selling their homes
- The license law is known as ✔️ Chapter 339
- Which would require a license? ✔️ A property manager actively leasing and selling for a real estate
company
- If an unlicensed person sells real estate for a fee, or accepts a referral fee for a real estate transaction,
the MREC: ✔️ May file a restraining order and assess a civil penalty of up to $2,500 per occurrence
(based on the finding of Missouri Administrative Hearing Commissioner (MAHC)
- The MREC, in investigating a licensee, may: ✔️ Issue subpoenas for all records relevant to the
complaint
, - The MREC, believing an unlicensed person has violated the law, may file a complaint in: ✔️ Any court
of competent jurisdiction
- The authorities are investigating a violation of the law by a licensee. Which could happen? ✔️ The
Missouri Real Estate Commission could revoke or suspend his license
- A complaint has been filed against Broker Grant. The MREC has the power to: ✔️ Subpoena Broker
Grant and his business records
- Which of the following individuals would be required to have a real estate license? ✔️ A friend of a
licensee who receives compensation for referring a client to the licensee
- Two brokers got into a dispute over who was due what part of a commission. One of the brokers filed a
complaint with the MREC to get it settled. Which is true? ✔️ The MREC will NOT enter into any dispute
over commissions between licensees
- A Citizen phoned the MREC with a complaint on a licensee. The MREC sent him a form to fill out.
However, he never followed up with the complaint in writing. What would the MREC do? ✔️ The MREC
can investigate on its own volition
- The MREC has heard rumors that a broker is violating the law. Can the MREC investigate? ✔️ Yes, no
complaint is necessary for the MREC to investigate.
- A corporation was entering the real estate business. It must be registered with: ✔️ The MREC
- The MREC can appoint a temporary legal license in which case? ✔️ Upon the death of the broker to
terminate all listing agreements and coordinate the closing of pending contracts between sellers and
buyers.
- A branch office under a principal broker: ✔️ Would operate under the principal broker's license
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