Missouri State License Law Guaranteed Solutions
License Requirements and Exceptions - A developer wanted to sell land in their own recently developed subdivision. Does the developer need
a license in Missouri to sell this land?
No, since he is the owner of the land. - An unlicensed clerica...
Missouri State License Law Guaranteed Solutions
License Requirements and Exceptions
- A developer wanted to sell land in their own recently developed subdivision. Does the developer need
a license in Missouri to sell this land?
✅ No, since he is the owner of the land.
- An unlicensed clerical employee of a real estate brokerage is showing listed property to a buyer. Is this
legal?
✅ No, this would be a violation of Missouri License law as only real estate licensees can show property.
- The primary purpose of Chapter 339 of the Missouri statutes?
✅ To protect the public by regulating the actions of brokers and salespersons.
- An unlicensed interior decorator was instrumental in procuring a buyer for a listed property. The
interior designer:
✅ Cannot receive a fee for this service.
- Which of the following would need a real estate license under Missouri Law?
✅ A person assisting in telemarketing the broker's services.
- An investment company hired a person to be a property manager managing property for third parties
for a fee. Does this person need a real estate license?
✅ Yes, because property management activities require a license in Missouri.
- A real estate broker hired an employee to help with basic property management duties. Does this
person need to have a real estate license?
✅ No, as an employee of an owner or broker may do property management activities without a
license.
,- Auctioneer Grant is negotiating to auction off some odds and ends for a farm family. The farmer asks if
Grant could also auction off the farm.
✅ He would NOT have to have a real estate license as he was auctioning it for the owner.
Advertising and Representation
- A seller directs a listing agent to only advertise in the local newspaper and not to put a sign in the yard.
What should the listing agent do?
✅ Advertise as the principal directs.
- A branch office of a principal real estate company must:
✅ Have all business overseen by either a broker-salesperson, broker-partner, broker officer, or broker
associate.
Licensing and Commission
- A broker-salesperson is allowed to do all of the following EXCEPT:
✅ Hold licenses of other licensees.
- A broker-salesperson was retiring but retained her license and kept receiving commission and referral
money for real estate transactions. Would this be allowed under Missouri Law?
✅ Yes, she can receive compensation but cannot be a managing broker.
- A broker is charged a small fee for management skills from 10 branch offices and visits each once a
month. Is this arrangement satisfactory?
✅ No, the broker would only have nominal control over the salespeople, thus violating Missouri
License Law.
- Which is true when a corporation receives a broker's license?
✅ All corporate officers involved in the brokerage business must have active broker-officer or
salesperson licenses.
- A broker-salesperson wants to reinstate her broker's license. What would she need to do?
, ✅ Turn her broker-license into the MREC and ask the MREC to re-issue her broker's license.
Legal and Disciplinary Actions
- A person in Missouri was selling real estate for a fee without a license. To stop this person, the MREC
can:
✅ Go to court and get an injunction.
- If the MREC receives a complaint against a broker, they could subpoena:
✅ The broker's business accounts and records.
- Two brokers made an oral agreement to split a commission. After closing, one refused to pay. The
MREC will NOT enter into any dispute over commissions between licensees.
✅ This is true.
Renewals and Continuing Education
- Salespersons' licenses are not renewed until the broker's license is renewed.
✅ True.
- Which of the following items could the MREC require before issuing a license?
✅ A credit report.
- A person completed all courses required for a salesperson's license and passed the test. When applying
for a temporary work permit?
✅ Once issued by the Missouri Real Estate Commission, the person can begin selling real estate.
- A person has passed the test but has not yet received a license. They should:
✅ Wait until the license is received from the MREC before doing any real estate activity.
- A salesperson wanted to get a broker's license. What conditions must be satisfied?
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