339.820. Limited agency agreement, listings or representing client, appointment of affiliated licensees.
Limited agency agreement, listings or representing client, appointmentof affiliated licensees.
339.820. 1. A designated broker entering into a limited agencyagreement with a client for the listing of property or for the purpose ofrepresenting that person in the buying, selling, exchanging, renting, orleasing of real estate may appoint in writing affiliated licensees asdesignated agents to the exclusion of all other affiliated licensees. Adesignated broker entering into a written transaction brokerage agreementwith a party for the listing of property or for the purpose of assistingthat person in buying, selling, exchanging, renting, or leasing of realestate may appoint in writing affiliated licensees as designatedtransaction brokers to the exclusion of all other affiliated licensees. Ifa designated broker has made an appointment pursuant to this section, anaffiliated licensee assisting a party without a written agreement shall bepresumed to be a transaction broker to the exclusion of all otheraffiliated licensees, unless a different brokerage relationship status hasbeen disclosed to or established with that party.
2. A designated broker shall not be considered to be a dual agent ora transaction broker solely because such broker makes an appointmentpursuant to this section, except that any licensee who personallyrepresents both the seller and buyer or both the landlord and tenant in aparticular transaction shall be a dual agent or a transaction broker andshall be required to comply with the provisions governing dual agents ortransaction brokers.
(L. 1996 S.B. 664 § 12, A.L. 1998 H.B. 1601, et al., A.L. 1999 H.B. 866)Effective 1-1-00