Missouri: Business Conduct and Practices - Real Estate License Exam Study Guide Solutions
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Course
Missouri 2024/2025
Institution
Missouri 2024/2025
Missouri: Business Conduct and
Practices - Real Estate License Exam
Study Guide Solutions
Sponsoring brokers - Ans:-are responsible for supervising all real estate activities of all associated
licensed and unlicensed persons. This includes protecting confidential information.
Each branch offic...
Unlicensed assistants - Ans:✔✔-can perform clerical or administrative tasks that don't require a real
estate license. These tasks may include, answering phones, maintaining copies and files, calculating
commission checks, preparing materials for advertisements or promotions (to be reviewed and approved
by a licensee), scheduling appointments and showings, checking the status of loan commitments,
inspections, appraisals, etc. Individuals can't work as an unlicensed assistant for one firm and as a
licensed assistant for another firm.
Advertisements - Ans:✔✔-must contain appropriate disclosures: If a licensee is engaged in the real
estate transaction, the advertisement can't in any way give the impression that a real estate professional
isn't involved. It must be clear that a real estate professional is placing the advertisement.
Advertisements - Ans:✔✔-must contain the brokerage name and phone number. These two pieces of
information are required in all real estate advertising.
listing agreement - Ans:✔✔-is a binding contract between the seller of a property and the seller's listing
broker.
listing agreement - Ans:✔✔-serves as an employment contract between a broker (representing the
brokerage company) and a seller; it's not between an individual licensee and a seller.
All listings - Ans:✔✔-belong to the principal broker. If a licensee leaves a brokerage, the listing stays with
the brokerage, not the licensee.
written agreement - Ans:✔✔-must be in place before advertising or placing a sign on the property.
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