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- 1. This document has legal consequences. © ST. LOUIS ASSOCIATION OF REALTORS ® If you do not understand it, consult your attorney. Approved by Counsel for the St. Louis Association of Realtors ® to be used exclusively by Realtors ® Form # 2142 04/11 AUTHORIZATION TO SHOW TO BE USED BY A BUYER AGENT SHOWING AN UNLISTED PROPERTY THIS AGREEMENT DOES NOT CREATE AN AGENCY RELATIONSHIP WITH THE OWNER. PROPERTY: CITY OF: COUNTY OF: BEGINNING DATE: REALTOR® is a Buyer Agent and not an agent for the Seller. This authorization is limited to the Buyer(s) named below. It is neither an exclusive right to sell nor an exclusive agency listing and it does not establish an agency relationship between the undersigned Owner and REALTOR ®. Owner is free to deal with persons other than these named prospective Buyer(s) and/or other brokers. REALTOR® is not authorized to act as a Transaction Broker as REALTOR® is already employed pursuant to a written agency agreement with the Buyer(s). Since this authorization does not establish an agency relationship between Owner and REALTOR® , dual agency is not possible and is there- fore, not authorized. Owner authorizes REALTOR® to cooperate with, to offer and pay compensation to other designated brokers acting as subagents ® of REALTOR , but not to designated brokers acting in any other capacity. The undersigned Owner hereby authorizes REALTOR® to show the above property to , prospective Buyer(s), at a price of $ or any other price to which the Owner may consent. The Owner agrees to pay to REALTOR® a commission of % of the total sale, lease, or exchange price if the Owner enters into a contract to sell, lease, or exchange the property to said Buyer(s) by 11:59 p.m. of , at which time this agreement terminates. Owner hereby directs the closing agent to pay the fee from Owner's funds at closing. Owner acknowledges that such payment does not create any agency relationship between Owner and REALTOR®. Unless otherwise agreed, this agreement will also terminate upon receipt of written notice that Owner has entered into a bona fide exclusive listing agreement with another REALTOR®. The total sale, lease, or exchange price shall be determined as follows: (1) in the case of a sale, it shall be the total sale price for the property, without reduction for closing adjustments, points, or other charges; (2) in the case of a lease, it shall be the total lease payments due to the Owner by the tenant during the term of the lease, without adjustment for utilities, taxes, and other charges which may be imposed on the tenant; and (3) in the case of an exchange, it shall be the total value of the consideration received by the undersigned Owner, including, but not limited to, real property and cash. In the event the undersigned Owner effects the terms of ownership in the said real estate by means of delivering stock in a corporation, the commission shall be a lien on said stock. Owner understands that the law requires disclosure of all known defects and material facts adversely affecting the value or desirability of the property and that failure to make such disclosure may result in civil liability. Owner represents that, except as disclosed in any Owner's Disclosure Statement, Owner has no knowledge of, and has not notified the REALTOR® of any defects or other material facts concerning the property. If Owner later learns of any other defects or material facts, Owner shall immediately sign and deliver to the REALTOR ® a revised Seller's Disclosure Statement. Owner understands that the REALTOR ®, prospective buyers and other real estate brokers may rely upon the Seller's Disclosure Statement and the assurances by Owner in this paragraph. After the close of the sale, Owner authorizes REALTOR®to provide property information and sale data to the Mid America Regional Information Systems and its members, and authorizes REALTOR® to use the undersigned Owner's names and property information for advertising in connection with this sale. REALTOR® shall provide professional services in accordance with local and federal fair housing laws and without respect to race, color, religion, sex, age, handicap, familial status, marital status, national origin, ancestry or sexual orientation. Owner has received and read the Missouri Real Estate Commission Broker Disclosure Form before signing this agreement and before providing any personal and financial information to REALTOR®. By signing below, Owner represents and affirms that Owner has the legal right to make an absolute sale of this property. REALTOR® (printed company name) OWNER DATE By: (authorized signature) DATE OWNER DATE
- 2. DUTIES AND OBLIGATIONS OF LIMITED AGENCY AS ADAPTED FROM SECTION 3 [339.730) RSMo I. A licensee representing a buyer or tenant as a buyer's or tenant's agent shall be a limited agent with the following duties and obligations: 1. To perform the terms of the written agreement made with the client; 2. To exercise reasonable skill and care for the client; 3. To promote the interest of the client with the utmost good faith, loyalty, and fidelity, including; a. Seeking a price and terms which are acceptable to the client, except that the licensee shall not be obligated to seek other properties while the client is a party to a contract to purchase property or to lease or letter of intent to lease; b. Presenting all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase a property or is already a party to a contract or a letter of intent to lease; c. Disclosing to the client adverse material facts actually known or that should have been known by the licensee; and d. Advising the client to obtain expert advice as to the material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee; 4. To account in a timely manner for all money and property received; 5. To comply will all requirements of section 1 to 16 of this act, subsection 2 of section 339.100.RSMo, and any rules and regulations promulgated pursuant to those sections; and 6. To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations. II. A licensee acting as a buyer's or tenant's agent shall not disclose any confidential information about the client unless disclosure is required by statute, rule, or regulation or failure to disclose the information would constitute a misrepresentation or unless disclo- sure is necessary to defend the affiliated licensee against an action of wrongful conduct in an administrative or judicial proceeding or before a professional committee. No cause of action for any person shall arise against a licensee acting as a buyer's or tenant's agent for making any required or permitted disclosure. III. A licensee acting as a buyer's or tenant's agent owes no duty or obligation to a customer, except that the licensee shall disclose to any customer all adverse material facts actually known or that should have been known by the licensee. The adverse material facts may include facts concerning the client's financial ability to perform the terms of the transaction. A buyer's or tenant's agent owes no duty to conduct an independent investigation of the client's financial condition for the benefit of the customer and owes no duty to independently verify the accuracy or completeness of statements made by the client or any independent inspector. IV. A buyer's or tenant's agent may show properties in which the client is interested to other prospective buyers or tenants without breaching any duty or obligation to the client. This section shall not be construed to prohibit a buyer's or tenant's agent from showing competing buyers or tenants the same property and from assisting competing buyers or tenants in attempting to purchase or lease a particular property. V. A client may agree in writing with a buyer's or tenant's agent that other designated brokers may be retained and compensated as subagents. Any designated broker acting on the buyer's or tenant's behalf as a subagent shall be a limited agent with the obligations and responsibilities set forth in subsections I to IV of this section. Printed Using Professional Computer Forms Co. On-Line Forms Software 5/11