agency

Transaction Broker Default (Missouri)

Under Missouri's brokerage relationship law (RSMo 339.710 to 339.860), a licensee working with a party is a transaction broker unless a different relationship is established in writing. To act as a seller's or buyer's limited agent, the designated broker must have a written agency agreement stating the statutory duties and compensation. A transaction broker helps one or more parties without being an agent or fiduciary for any of them. Missouri agency is 'limited' because statute, not common law, defines the duties.