Section 339.800

Title XXII OCCUPATIONS AND PROFESSIONS

Chapter 339

Effective - 28 Aug 2004   

  339.800.  Compensation of designated broker, paid by whom, sharing compensation — payment establishing agency — agreement by seller or buyer on sharing compensation. — 1.  In any real estate transaction, the designated broker's compensation may be paid by the seller, the landlord, the buyer, the tenant, or a third party or by sharing the compensation between designated brokers.

  2.  Payment of compensation by itself shall not establish an agency relationship or transaction brokerage relationship between the party who paid the compensation and the designated broker or any affiliated licensee.

  3.  A seller or landlord may agree that a designated broker may share with another designated broker the compensation paid by the seller or landlord.

  4.  A buyer or tenant may agree that a designated broker may share with another designated broker the compensation paid by the buyer or tenant.

  5.  A designated broker may be compensated by more than one party for services in a transaction with the knowledge of all the parties at or before the time of entering into a written contract to buy, sell, or lease.

  6.  Nothing contained in this section shall relieve the licensee from the requirement of obtaining a written agreement for brokerage services or other written agreement addressing compensation.

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(L. 1996 S.B. 664 § 10, A.L. 1998 H.B. 1601, et al., A.L. 2004 H.B. 985)