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Question
Salesperson Tina writes an offer and it is signed by her buyer. In the offer, Salesperson Tina accurately discloses she is acting as a Buyer’s Agent. The brokerage relationship disclosure for the listing agent is left blank because Salesperson Tina does not have that information.
That afternoon, Salesperson Tina emails the offer to the listing agent, Salesperson Bryon. Salesperson Bryon submits the offer to the seller and the seller accepts the offer by signing the purchase contract. The executed purchase contract does not include the brokerage relationship disclosure for Salesperson Bryon.
Both Salesperson Tina and Salesperson Bryon submit the purchase contract to their respective Supervising Brokers. Eight weeks later, the transaction closes. None of the licensees noticed the missing brokerage relationship disclosure.
Who is in violation of the license act or BRRETA?
- A) Salesperson Tina
- B) Salesperson Bryon
- C) Both Supervising Brokers
- D) All the above
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Answer
D) All the above. K.S.A.58-30,110(c) requires the brokerage relationship disclosure for all licensees involved to be included in the purchase contract and K.A.R. 86-3-26a(c) requires all licensees involved in the transaction ensure the accuracy and completeness of the brokerage relationship disclosure. Salesperson Tina and Salesperson Bryon violated K.A.R. 86-3-26a(c). K.A.R. 86-3-31(a)(7) requires a supervising broker to supervise the activities of their affiliated licensees by making sure the contracts used are complete and accurate.
K.S.A. 58-30,110(c). The disclosure of the brokerage relationship between all licensees involved and the seller and buyer shall be included in any contract for sale and in any lot reservation agreement.
K.A.R. 86-3-26a(c). Each licensee involved in a transaction as a statutory agent or a transaction broker shall ensure the completeness and accuracy of the disclosure required by K.S.A. 58-30,110(c), and amendments thereto.
K.A.R. 86-3-31. Broker supervision. (a) Failure of a supervising broker or branch broker to properly supervise the activities of an associated or employed salesperson or associate broker shall include the following: (7) failing to ensure that all contracts and forms used by an associated or employed salesperson or associate broker are reviewed for accuracy and compliance with applicable statutes, regulations, and office policies.
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