Bypass Titles | Bypass Titles and Index

Display empty space for layoutKREC logo

HOME | FAQs | FORMS | NEWS

Display empty space for layout License Search | Company Search | Check CEU hrs | Renew License

Loading

Presumption of Transaction Broker

KREC

Commission

Licensure

Regulation

Guidelines & Helpful Information

News
KREC
< State of Kansas Web site

A broker is considered to be a transaction broker unless:

  • an agency relationship between the broker and the party to be represented is established; or
  • a broker works with a buyer or tenant as a subagent of the seller or landlord by accepting an offer of subagency.

An Example

A licensee who shows property to an unrepresented buyer is a transaction broker until one of the following occurs:

  • The licensee shows a company listing--where the company has an agency agreement with the seller AND there is no designated agent for the seller. The licensee is then acting as a seller's agent. {If the seller has a designated agent, only the designated agent represents the seller; other affiliated licensees would be acting as a transaction broker.}
  • Subagency is accepted on another company's listing. The licensee is then acting as a seller's agent.
  • An agency agreement is signed with the buyer. The licensee is then acting as an agent for the buyer.

IF YOU SHOW A PROPERTY TO AN UNREPRESENTED BUYER

AND YOUR COMPANY HAS AN AGENCY AGREEMENT
WITH THE OWNER OF THE PROPERTY

AND THERE IS NO DESIGNATED AGENT FOR THE SELLER

YOU ARE ACTING AS A SELLER'S AGENT.

YOU ARE NOT ACTING AS A TRANSACTION BROKER.


[Home] [Apply for a License] [Renew] [License Lookup] [Check CEU Hours] [SiteMap]


Copyright © 2002, Kansas Real Estate Commission
Three Townsite Plaza STE 200  -  120 SE 6th Ave  -  Topeka, Kansas  66603-3511
phone: 785.296.3411 - fax: 785.296.1771 - email: krec@krec.state.ks.us

| Security Statement | Privacy Statement | Accessibility Policy |