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 202 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 confidences, unless disclosure is required; presenting all offers in a timely manner; advising SELLER to 205 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 the Property that are required to be disclosed, the physical condition of the Property or any material defects 208 in the Property or in the title to the Property; any material limitation on SELLER’S ability to complete the 209 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 210 benefit of the Buyer or to independently verify the accuracy or completeness of any statement by SELLER or 211 any qualified third party. 212 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 222 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 232 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 233 financing terms other than those offered or any confidential information about the other party, unless 234 disclosure of such information is required by law, statute, rules or regulations or failure to disclose such 235 information would constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum must 236 be signed by all parties when this arrangement is used.) 237 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 responsibilities as the agent. 239 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 240 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 becomes interested in making an offer on the Property, BROKER is in the position of representing both 242 SELLER and the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 conflicts of interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 limited agent for both SELLER and a Buyer and shall have the duties of SELLER’S or a Buyer’s agent except 245 that a Dual 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 202 219 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 220 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 221 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 205 222 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 223 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 224 the Property that are required to be disclosed, ; the physical condition of the Property or Property; any material defects 208 in 225 the Property or in the title to the Property; Property or any material limitation on SELLER’S ability to complete the 209 contract226 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. 212 229 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 230 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 231 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 232 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 233 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 234 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 235 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 236 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 237 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 238 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 222 239 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 240 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 241 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 242 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 243 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 244 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 245 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 246 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 247 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 248 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 232 249 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 or offered; 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 Addendum Amendment must 236 be signed by all 253 parties when this arrangement is used.) 237 254 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 255 responsibilities as the agent. 239 256 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 240 257 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 202 200 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 201 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 202 confidences, unless disclosure is required; presenting all offers in a timely manner; advising SELLER to 205 203 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 204 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 205 the Property that are required to be disclosed, the physical condition of the Property or any material defects 208 206 in the Property or in the title to the Property; any material limitation on SELLER’S ability to complete the 209 207 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 210 208 benefit of the Buyer or to independently verify the accuracy or completeness of any statement by SELLER or 211 209 any qualified third party. 212 210 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 211 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 212 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 213 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 214 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 215 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 216 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 217 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 218 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 219 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 222 220 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 221 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 222 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 223 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 224 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 225 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 226 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 227 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 228 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 229 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 232 230 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 233 231 financing terms other than those offered or any confidential information about the other party, unless 234 232 disclosure of such information is required by law, statute, rules or regulations or failure to disclose such 235 233 information would constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum must 236 234 be signed by all parties when this arrangement is used.) 237 235 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 236 responsibilities as the agent. 239 237 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 240 238 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 239 becomes interested in making an offer on the Property, BROKER is in the position of representing both 242 240 SELLER and the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 241 conflicts of interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 242 limited agent for both SELLER and a Buyer and shall have the duties of SELLER’S or a Buyer’s agent except 245 243 that a Dual Agent may disclose any information to one client that the licensee gains from the other client if the 246 244 information: (1) is material to the transaction unless it is confidential information that has not been made 247 245 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, (3) is 248 246 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 249 247 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 250 248 the Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 251 249 factors are for any client, buying or selling the Property or that a client will agree to financing terms other than 252 250 those offered and/or the terms of any prior offers or counter offers made by any party. A Dual Agent shall not 253 251 disclose to one client any confidential information about the other client unless the disclosure is required by 254 252 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 255 253 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 256 254 administrative or judicial proceeding or before a professional committee. (A separate Disclosed Dual 257 255 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 202 190 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 191 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 192 confidences, unless disclosure is required; presenting all offers in a timely manner; advising SELLER to 205 193 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 194 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 the Property property that are 195 required to be disclosed, ; the physical condition of the Property or property; any material defects 208 in the Property property or in the 196 title to the Propertyproperty; any material limitation on SELLER’S ability to complete the 209 contract. The SELLER’S 197 agent has no duty to to: conduct an independent inspection of the Property property for the 210 benefit of the Buyer or to Buyer; 198 independently verify the accuracy or completeness of any statement by SELLER or 211 any qualified third party. 212 199 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 200 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 201 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 202 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 203 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 204 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 205 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 206 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 207 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 208 including but not limited to: presenting all offers and counter offers counteroffers in a timely manner regardless of whether 222 209 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 210 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 211 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 212 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 213 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 214 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 215 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 216 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 217 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 218 Property; that SELLER XXXXXX is willing to accept less than the asking price for the Property; what the motivating 232 219 factors are for any party buying, selling or leasing the Propertyproperty; that SELLER or a Buyer will agree to 233 financing 220 terms other than those offered or offered; any confidential information about the other party, unless 234 disclosure of such 221 information is required by law, statute, rules or regulations or failure to disclose such 235 information would 222 constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum Amendment must 236 be signed by all 223 parties when this arrangement is used.) 237 224 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 225 responsibilities as the agent. 239 226 • Disclosed Dual Agency. (Missouri only). ) BROKER may have Buyer clients who have retained BROKER 240 to 227 represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 becomes 228 interested in making an offer on the Property, BROKER is in the position of representing both 242 SELLER and 229 the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 conflicts of 230 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 limited agent for 231 both SELLER and a Buyer and shall have the duties of SELLER’S or a Buyer’s agent except 245 that a Dual 232 Agent may disclose any information to one client that the licensee gains from the other client if the 246 233 information: (1) is material to the transaction unless it is confidential information that has not been made 247 234 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, ; (3) is 248 235 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 249 236 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 250 237 the Propertyproperty; that SELLER is willing to accept less than the asking price for the Property; what the motivating 251 238 factors are for any client, buying or selling the Property or Property; that a client will agree to financing terms other than 252 239 those offered and/or the terms of any prior offers or counter offers counteroffers made by any party. A Dual Agent shall not 253 240 disclose to one client any confidential information about the other client unless the disclosure is required by 254 241 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 255 242 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 256 243 administrative or judicial proceeding or before a professional committee. (A separate Disclosed Dual 257 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 202 223 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 224 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 225 confidences, unless disclosure is required; presenting all offers in a timely manner; advising the SELLER to 205 226 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 227 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 228 the Property that are required to be disclosed, ; the physical condition of the Property or Property; any material defects 208 in 229 the Property or in the title to the Property; Property or any material limitation on SELLER’S ability to complete the 209 contract. The SELLER’S agent has no duty to conduct an independent 230 231 inspection of the Property for the 210 benefit of the Buyer or to independently verify the accuracy or completeness 232 of any statement by the SELLER or 211 any qualified third party. 212 233 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 234 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 235 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 236 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 237 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 238 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 239 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 240 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 241 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 242 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 222 243 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 244 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 245 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 246 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 247 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 248 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 249 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 250 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 251 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 252 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 232 253 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 233 financing 254 terms other than those offered or offered; any confidential information about the other party, unless 234 disclosure of such 255 information is required by law, statute, rules or regulations or failure to disclose such 235 information would 256 constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum Amendment must 236 be signed by all 257 parties when this arrangement is used.) 237 258 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 259 responsibilities as the agent. 239 260 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 240 261 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 becomes 262 interested in making an offer on the Property, BROKER is in the position of representing both 242 SELLER and 263 the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 conflicts of 264 interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 limited agent for 265 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 266 Agent may disclose any information to one client that the licensee gains from the other client if the 246 information: (267 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 202 178 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 203 179 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 204 180 confidences, unless disclosure is required; presenting all offers in a timely manner; advising SELLER to 205 181 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 206 182 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 207 183 the Property that are required to be disclosed, the physical condition of the Property or any material defects 208 184 in the Property or in the title to the Property; any material limitation on SELLER’S ability to complete the 209 185 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 210 186 benefit of the Buyer or to independently verify the accuracy or completeness of any statement by SELLER or 211 187 any qualified third party. 212 188 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 213 189 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 214 190 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 215 191 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 216 192 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 217 193 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 218 194 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 219 195 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 220 196 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 221 197 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 222 198 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 223 199 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 224 200 which the Transaction Broker knows but the specifics of which are beyond the expertise of such broker; 225 201 accounting in a timely manner for all money and property received; disclosing to each party to the transaction 226 202 any adverse material facts of which the Transaction Broker has actual notice or knowledge; and assisting the 227 203 parties in complying with the terms and conditions of any Contract. The parties to a transaction brokerage 228 204 transaction shall not be liable for any acts of the Transaction Broker. The following information shall not be 229 205 disclosed by a Transaction Broker without the informed consent of the party or parties disclosing such 230 206 information to the BROKER: that a Buyer is willing to pay more than the Purchase Price offered for the 231 207 Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 232 208 factors are for any party buying, selling or leasing the Property; that SELLER or a Buyer will agree to 233 209 financing terms other than those offered or any confidential information about the other party, unless 234 210 disclosure of such information is required by law, statute, rules or regulations or failure to disclose such 235 211 information would constitute fraud or dishonest dealing. (A separate Transaction Broker Addendum must 236 212 be signed by all parties when this arrangement is used.) 237 213 • Subagency. A Subagent is the agent of an agent. A Subagent owes the same obligations and 238 214 responsibilities as the agent. 239 215 • Disclosed Dual Agency. (Missouri only). BROKER may have Buyer clients who have retained BROKER 240 216 to represent them in connection with the acquisition of property. If a Buyer represented by BROKER 241 217 becomes interested in making an offer on the Property, BROKER is in the position of representing both 242 218 SELLER and the Buyer in that transaction. This representation, known as dual agency, can create inherent 243 219 conflicts of interest. The same is true if the listing agent is also the selling agent. A Dual Agent shall be a 244 220 limited agent for both SELLER and a Buyer and shall have the duties of SELLER’S or a Buyer’s agent except 245 221 that a Dual Agent may disclose any information to one client that the licensee gains from the other client if the 246 222 information: (1) is material to the transaction unless it is confidential information that has not been made 247 223 public or, (2) becomes public by the words or conduct of the client to whom the information pertains or, (3) is 248 224 obtained from a source other than the licensee. A Dual Agent may not disclose, without the consent of the 249 225 client to whom the information pertains: that a Buyer is willing to pay more than the Purchase Price offered for 250 226 the Property; that SELLER is willing to accept less than the asking price for the Property; what the motivating 251 227 factors are for any client, buying or selling the Property or that a client will agree to financing terms other than 252 228 those offered and/or the terms of any prior offers or counter offers made by any party. A Dual Agent shall not 253 229 disclose to one client any confidential information about the other client unless the disclosure is required by 254 230 statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless 255 231 disclosure is necessary to defend the affiliate licensee against an action of wrongful conduct in any 256 232 administrative or judicial proceeding or before a professional committee. (A separate Disclosed Dual 257 233 Agency Amendment must be signed by SELLER and the Buyer when this form of agency is used.)