Common use of SELLER AGENCY Clause in Contracts

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 the Property that are required to be disclosed; the physical condition of the Property; any material defects in 225 the Property or in the title to the Property or any material limitation on SELLER’S ability to complete the 226 Contract. SELLER’S agent has no duty to conduct an independent inspection of the Property for the benefit of 227 the Buyer or to independently verify the accuracy or completeness of any statement by the SELLER or any 228 qualified third party. 229 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 239 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 248 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 249 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to financing 250 terms other than those offered; any confidential information about the other party, unless disclosure of such 251 information is required by law, statute, rules or regulations or failure to disclose such information would 252 constitute fraud or dishonest dealing. (A separate Transaction Broker Amendment must be signed by all 253 parties when this arrangement is used.) 254 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 responsibilities as the agent. 256 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 257 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER becomes 258 interested in making an offer on the Property, BROKER is in the position of representing both SELLER and 259 the Buyer in that transaction. This representation, known as dual agency, can create inherent conflicts of 260 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a limited agent for 261 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except that a Dual 262 Agent may disclose any information to one client that the licensee gains from the other client if the information:

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 190 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 191 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 192 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 193 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 194 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 the Property property that are 195 required to be disclosed; the physical condition of the Propertyproperty; any material defects in 225 the Property property or in the 196 title to the Property or property; any material limitation on SELLER’S ability to complete the 226 Contractcontract. The SELLER’S 197 agent has no duty to to: conduct an independent inspection of the Property property for the benefit of 227 the Buyer or to Buyer; 198 independently verify the accuracy or completeness of any statement by the SELLER or any 228 qualified third party. 229 199 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 200 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 201 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 202 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 203 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 204 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 205 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 206 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 207 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 208 including but not limited to: presenting all offers and counter offers counteroffers in a timely manner regardless of whether 239 209 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 210 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 211 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 212 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 213 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 214 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 215 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 216 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 217 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 248 218 Property; that SELLER XXXXXX is willing to accept less than the asking price for the Property; what the motivating 249 219 factors are for any party buying, selling or leasing the Propertyproperty; that SELLER or a Buyer will agree to financing 250 220 terms other than those offered; any confidential information about the other party, unless disclosure of such 251 221 information is required by law, statute, rules or regulations or failure to disclose such information would 252 222 constitute fraud or dishonest dealing. (A separate Transaction Broker Amendment must be signed by all 253 223 parties when this arrangement is used.) 254 224 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 225 responsibilities as the agent. 256 226 • Disclosed Dual Agency. (Missouri only). ) BROKER may have Buyer clients who have retained BROKER 257 to 227 represent them in connection with the acquisition of property. If a Buyer represented by BROKER becomes 258 228 interested in making an offer on the Property, BROKER is in the position of representing both SELLER and 259 229 the Buyer in that transaction. This representation, known as dual agency, can create inherent conflicts of 260 230 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a limited agent for 261 231 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except that a Dual 262 232 Agent may disclose any information to one client that the licensee gains from the other client if the 233 information:: (1) is material to the transaction unless it is confidential information that has not been made 234 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or; (3) is 235 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 236 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 237 the property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 238 factors are for any client, buying or selling the Property; that a client will agree to financing terms other than 239 those offered and/or the terms of any prior offers or counteroffers made by any party. A Dual Agent shall not 240 disclose to one client any confidential information about the other client unless the disclosure is required by 241 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 242 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 243 administrative or judicial proceeding or before a professional committee. A separate Disclosed Dual Agency 244 Amendment must be signed by SELLER and the Buyer when this form of agency is used. 245 • Designated Agency. A Designated Agent is a licensee affiliated with BROKER who has been designated by 246 BROKER, or BROKER’S authorized representative, to act as the agent of a Buyer represented by BROKER 247 or a SELLER represented by BROKER to the exclusion of all other affiliated licensees of BROKER. The use 248 of a Designated Agent is an alternative to a Disclosed Dual Agency in Missouri or a Transaction Broker in 249 Kansas or Missouri. A Designated Xxxxxx’s Agent will perform all of the duties of a Seller’s Agent. 250 If a Designated Agent is appointed to represent SELLER, SELLER understands and agrees that: 251 1. The Designated Agent will perform all of the duties of a Seller’s Agent and will be SELLER’S legal 252 agent to the exclusion of all other licensees affiliated with BROKER. 253 2. Another licensee with the BROKER may act as a Designated Agent for a Buyer in the sale of the 254 Property. 255 3. The supervising broker (or branch broker, if applicable) will act as a Transaction Broker and will not 256 advocate for the interests of either party and will not, without prior consent of both parties, disclose 257 any information or personal confidences about a party which might place the other party at an 258 advantage. The supervising broker (or branch broker, if applicable) may appoint an affiliated licensee 259 to act in the transaction as a Transaction Broker. 260 4. If the Designated Agent for SELLER is also the Designated Agent of a Buyer who is interested in 261 purchasing the Property, the Designated Agent cannot represent both SELLER and Buyer. With the 262 informed consent of both SELLER and Buyer, the Designated Agent may act as a Transaction Broker 263 and assist the parties with the real estate transaction without being an agent or advocate for the 264 interests of either party. 265 5. If a Buyer who is represented by a Designated Agent of BROKER wants to see a property which was 266 personally listed by the supervising broker, the supervising broker, with the written consent of 267 SELLER, may specifically designate an affiliated licensee who will act as the Designated Agent for 268 SELLER. 269

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 202 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 203 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 204 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 205 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 206 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 207 the Property that are required to be disclosed; , the physical condition of the Property; Property or any material defects 208 in 225 the Property or in the title to the Property or Property; any material limitation on SELLER’S ability to complete the 226 Contract209 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 210 benefit of 227 the Buyer or to independently verify the accuracy or completeness of any statement by the SELLER or 211 any 228 qualified third party. 229 212 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 213 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 214 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 215 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 216 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 217 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 218 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 219 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 220 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 221 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 239 222 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 223 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 224 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 225 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 226 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 227 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 228 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 229 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 230 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 248 231 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 249 232 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 233 financing 250 terms other than those offered; offered or any confidential information about the other party, unless 234 disclosure of such 251 information is required by law, statute, rules or regulations or failure to disclose such 235 information would 252 constitute fraud or dishonest dealing. (A separate Transaction Broker Amendment Addendum must 236 be signed by all 253 parties when this arrangement is used.) 254 237 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 238 responsibilities as the agent. 256 239 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 257 240 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 becomes 258 interested in making an offer on the Property, BROKER is in the position of representing both 242 SELLER and 259 the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 conflicts of 260 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 limited agent for 261 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except 245 that a Dual 262 Agent may disclose any information to one client that the licensee gains from the other client if the 246 information:: (1) is material to the transaction unless it is confidential information that has not been made 247 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, (3) is 248 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 249 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 250 the Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 251 factors are for any client, buying or selling the Property or that a client will agree to financing terms other than 252 those offered and/or the terms of any prior offers or counter offers made by any party. A Dual Agent shall not 253 disclose to one client any confidential information about the other client unless the disclosure is required by 254 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 255 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 256 administrative or judicial proceeding or before a professional committee. (A separate Disclosed Dual 257 Agency Amendment must be signed by SELLER and the Buyer when this form of agency is used.)

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 223 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 224 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 225 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 226 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 227 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 228 the Property that are required to be disclosed; the physical condition of the Property; any material defects in 225 229 the Property or in the title to the Property or any material limitation on SELLER’S ability to complete the 226 Contract. SELLER’S agent has no duty to conduct an independent 230 231 inspection of the Property for the benefit of 227 the Buyer or to independently verify the accuracy or completeness 232 of any statement by the SELLER or any 228 qualified third party. 229 233 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 234 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 235 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 236 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 237 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 238 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 239 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 240 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 241 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 242 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 239 243 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 244 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 245 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 246 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 247 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 248 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 249 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 250 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 251 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 248 252 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 249 253 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to financing 250 254 terms other than those offered; any confidential information about the other party, unless disclosure of such 251 255 information is required by law, statute, rules or regulations or failure to disclose such information would 252 256 constitute fraud or dishonest dealing. (A separate Transaction Broker Amendment must be signed by all 253 257 parties when this arrangement is used.) 254 258 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 259 responsibilities as the agent. 256 260 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 257 261 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER becomes 258 262 interested in making an offer on the Property, BROKER is in the position of representing both SELLER and 259 263 the Buyer in that transaction. This representation, known as dual agency, can create inherent conflicts of 260 264 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a limited agent for 261 265 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except that a Dual 262 266 Agent may disclose any information to one client that the licensee gains from the other client if the information:: 267 1. is material to the transaction unless it is confidential information that has not been made public or,

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 178 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 179 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 180 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 181 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 182 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 183 the Property that are required to be disclosed; , the physical condition of the Property; Property or any material defects 184 in 225 the Property or in the title to the Property or Property; any material limitation on SELLER’S ability to complete the 226 Contract185 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 186 benefit of 227 the Buyer or to independently verify the accuracy or completeness of any statement by the SELLER or 187 any 228 qualified third party. 229 188 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 189 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 190 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 191 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 192 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 193 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 194 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 195 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 196 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 197 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 239 198 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 199 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 200 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 201 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 202 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 203 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 204 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 205 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 206 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 248 207 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 249 208 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 209 financing 250 terms other than those offered; offered or any confidential information about the other party, unless 210 disclosure of such 251 information is required by law, statute, rules or regulations or failure to disclose such 211 information would 252 constitute fraud or dishonest dealing. (A separate Transaction Broker Amendment Addendum must 212 be signed by all 253 parties when this arrangement is used.) 254 213 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 214 responsibilities as the agent. 256 215 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 257 216 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 217 becomes 258 interested in making an offer on the Property, BROKER is in the position of representing both 218 SELLER and 259 the Buyer in that transaction. This representation, known as dual agency, can create inherent 219 conflicts of 260 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 220 limited agent for 261 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except 221 that a Dual 262 Agent may disclose any information to one client that the licensee gains from the other client if the 222 information:: (1) is material to the transaction unless it is confidential information that has not been made 223 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, (3) is 224 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 225 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 226 the Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 227 factors are for any client, buying or selling the Property or that a client will agree to financing terms other than 228 those offered and/or the terms of any prior offers or counter offers made by any party. A Dual Agent shall not 229 disclose to one client any confidential information about the other client unless the disclosure is required by 230 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 231 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 232 administrative or judicial proceeding or before a professional committee. (A separate Disclosed Dual 233 Agency Amendment must be signed by SELLER and the Buyer when this form of agency is used.)

SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 219 200 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 220 201 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 221 202 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 222 203 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 223 204 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 224 205 the Property that are required to be disclosed; , the physical condition of the Property; Property or any material defects 206 in 225 the Property or in the title to the Property or Property; any material limitation on SELLER’S ability to complete the 226 Contract207 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 208 benefit of 227 the Buyer or to independently verify the accuracy or completeness of any statement by the SELLER or 209 any 228 qualified third party. 229 210 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 230 211 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 231 212 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 232 213 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 233 214 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 234 215 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 235 216 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 236 217 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 237 218 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 238 219 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 239 220 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 240 221 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 241 222 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 242 223 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 243 224 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 244 225 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 245 226 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 246 227 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 247 228 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 229 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 230 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 231 financing terms other than those offered or any confidential information about the other party, unless 232 disclosure of such information is required by law, statute, rules or regulations or failure to disclose such 233 information would constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum must 234 be signed by all parties when this arrangement is used.) 235 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 236 responsibilities as the agent. 237 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 238 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 239 becomes interested in making an offer on the Property, BROKER is in the position of representing both 240 SELLER and the Buyer in that transaction. This representation, known as dual agency, can create inherent 241 conflicts of interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 242 limited agent for both SELLER and a Buyer and shall have the duties of SELLER’S or a Buyer’s agent except 243 that a Dual Agent may disclose any information to one client that the licensee gains from the other client if the 244 information: (1) is material to the transaction unless it is confidential information that has not been made 245 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, (3) is 246 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 247 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 248 the Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 249 factors are for any party buyingclient, buying or selling the Property or leasing the Property; that SELLER or a Buyer client will agree to financing 250 terms other than 250 those offered; offered and/or the terms of any prior offers or counter offers made by any party. A Dual Agent shall not 251 disclose to one client any confidential information about the other party, client unless the disclosure of such 251 information is required by law, 252 statute, rules rule or regulations regulation or failure to disclose such the information would 252 constitute fraud a misrepresentation or dishonest dealingunless 253 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 254 administrative or judicial proceeding or before a professional committee. (A separate Transaction Broker Disclosed Dual 255 Agency Amendment must be signed by all 253 parties SELLER and the Buyer when this arrangement form of agency is used.) 254 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 255 responsibilities as the agent. 256 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 257 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER becomes 258 interested in making an offer on the Property, BROKER is in the position of representing both SELLER and 259 the Buyer in that transaction. This representation, known as dual agency, can create inherent conflicts of 260 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a limited agent for 261 both the SELLER and a Buyer and shall have the duties of a SELLER’S or a Buyer’s agent except that a Dual 262 Agent may disclose any information to one client that the licensee gains from the other client if the information: