Myers Jackson Licensed Kansas Real Estate Broker #00241352 presents the following brokerage services form during the first consultation to all prospective buyers, tenants, sellers and landlords. After you have read the statement below you may search additional properties in Texas and other places here.
Real Estate Brokerage Relationships Kansas law requires real estate licensees to provide the following information about brokerage relationships to prospective sellers and buyers at the first practical opportunity. This brochure is provided for informational purposes and does not create an obligation to use the broker’s services.
Types of Brokerage Relationships: A real estate licensee may work with a buyer or seller as a seller’s agent, buyer’s agent or transaction broker. The disclosure of the brokerage relationship between all licensees involved and the seller and buyer must be included in any contract for sale and in any lot reservation agreement.
Seller’s Agent: The seller’s agent represents the seller only, so the buyer may be either unrepresented or represented by another agent. In order to function as a seller’s agent, the broker must enter into a written agreement to represent the seller. Under a seller agency agreement, all licensees at the brokerage are seller’s agents unless a designated agent is named in the agreement. If a designated agent is named, only the designated agent has the duties of a seller’s agent and the supervising broker of the designated agent functions as a transaction broker.
Buyer’s Agent: The buyer’s agent represents the buyer only, so the seller may be either unrepresented or represented by another agent. In order to function as a buyer’s agent, the broker must enter into a written agreement to represent the buyer. Under a buyer agency agreement, all licensees at the brokerage are buyer’s agents unless a designated agent is named in the agreement. If a designated agent is named, only the designated agent has the duties of a buyer’s agent and the supervising broker of the designated agent functions as a transaction broker.
A Transaction Broker is not an agent for either party and does not advocate the interests of either party. A transaction brokerage agreement can be written or verbal.
Duties and Obligations: Agents and transaction brokers have duties and obligations under K.S.A. 58-30,106, 58-30,107, and 58-30,113, and amendments thereto. A summary of those duties are:
An Agent, either seller’s agent or buyer’s agent, is responsible for performing the following duties:
- promoting the interests of the client with the utmost good faith, loyalty, and fidelity
- protecting the clients confidences, unless disclosure is required
- presenting all offers in a timely manner
- advising the client to obtain expert advice
- accounting for all money and property received
- disclosing to the client all adverse material facts actually known by the agent
- disclosing to the other party all adverse material facts actually known by the agent
The transaction broker is responsible for performing the following duties:
- protecting the confidences of both parties
- exercising reasonable skill and care
- presenting all offers in a timely manner
- advising the parties regarding the transaction
- suggesting that the parties obtain expert advice
- accounting for all money and property received
- keeping the parties fully informed
- assisting the parties in closing the transaction
- disclosing to the parties all adverse material facts actually known by the transaction broker
Agents and Transaction Brokers have no duty to:
- conduct an independent inspection of the property for the benefit of any party
- conduct an independent investigation of the buyer’s financial condition
- independently verify the accuracy or completeness of statements made by the seller, buyer, or any qualified third party.
General Information: Each real estate office has a supervising broker or branch broker who is responsible for the office and the affiliated licensees assigned to the office. Below are the names of the licensee providing this brochure, the supervising/branch broker, and the real estate company.
__________________________________________ __________________________________________ Licensee Real estate company name approved by the commission
__________________________________________ __________________________________________ Supervising/branch broker Buyer/Seller Acknowledgement (not required)
Approved by the Kansas Real Estate Commission on October 10, 2017