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The Kansas Real Estate Commission prepared this email to provide an overview of common violations. This is an example only, as different facts in a case may result in a different outcome.
Question
Salesperson Jamie works at ABC Realty and met a potential buyer, Mr. Jones, through a mutual friend. Mr. Jones decides to sign a buyer agency agreement. The agency agreement was signed by Mr. Jones and Salesperson Jamie on January 1, 2021. The agency agreement named Salesperson Jamie as a designated agent. For the next six weeks, Salesperson Jamie shows Mr. Jones several homes in his price range.
On February 15, 2021, Salesperson Jamie shows Mr. Jones a property and Mr. Jones decides to make an offer. The written offer was submitted and accepted by the sellers on February 16, 2021. Inspections were completed and the transaction moved toward closing.
On March 15, 2021, Salesperson Jamie submits a copy of the purchase contract and the completed inspections to the supervising broker of ABC Realty. Upon reviewing the purchase contract, the broker noticed Salesperson Jamie was disclosed as a designated buyer’s agent. The broker did not have a copy of the buyer agency agreement and requested a copy from Salesperson Jamie. The next day, Salesperson Jamie provided the broker with a copy of the buyer agency agreement.
The transaction closed on April 1, 2021. Copies of the closing documents were provided to the broker on the day of closing.
Did Salesperson Jamie submit documents to the broker in a timely manner?
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Answer
No. Kansas law requires licensees to submit documents to their supervising broker within 10 business days. The buyer agency agreement and the purchase contract in this scenario were not submitted to the supervising broker within the 10-day period. Salesperson Jamie violated 58-3062(b)(6).
58-3062(b)(6). No salesperson or associate broker shall: Fail to submit to the supervising broker or branch broker, within 10 business days, any document that must be maintained in the supervising broker’s or branch broker’s business records for each real estate transaction. The ten-day period shall commence when the document is executed by the client or customer or, if a signature is not required or is not obtained, upon presentation of a document to the client or customer.
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