Kansas Statutes 58-30,109. Brokerage firm acting as a transaction broker; affiliated licensees; designated agents; rules and regulations
(a) In the absence of designated agents appointed pursuant to subsection (b), a brokerage firm may act as a transaction broker pursuant to Kan. Stat. Ann. § 58-30,113, and amendments thereto, on an in-house transaction with the informed consent of the seller client and the buyer client. The informed consent shall be evidenced by a transaction broker addendum to the agency agreements and shall be signed by the buyer prior to writing the offer and by the seller prior to signing the contract.
(b) (1) A broker may personally, or through the broker’s duly authorized licensed representative, specifically designate, in a written agency agreement obtained pursuant to Kan. Stat. Ann. § 58-30,103, and amendments thereto, one or more affiliated licensees who will be acting as legal agent of the buyer client or seller client to the exclusion of all other affiliated licensees.
Terms Used In Kansas Statutes 58-30,109
- Act: means the real estate brokers' and salespersons' license act. See Kansas Statutes 58-3035
- Affiliated licensee: means any individual licensed as a salesperson or broker under the Kansas real estate brokers' and salespersons' license act who is employed by a broker or affiliated with a broker as an independent contractor. See Kansas Statutes 58-30,102
- Agency: means every relationship in which a broker acts for or represents another, by the latter's express written authority, in a real estate transaction. See Kansas Statutes 58-30,102
- Agency agreement: means a written agreement setting forth the terms and conditions of the relationship between a broker and the broker's client. See Kansas Statutes 58-30,102
- Branch broker: means an individual who has a broker's license and who has been designated to supervise a branch office and the activities of salespersons and associate brokers assigned to the branch office. See Kansas Statutes 58-3035
- Broker: means an individual, other than a salesperson, who advertises or represents that such individual engages in the business of buying, selling, exchanging or leasing real estate or who, for compensation, engages in any of the following activities as an employee of, or on behalf of, the owner, purchaser, lessor or lessee of real estate:
(1) Sells, exchanges, purchases or leases real estate. See Kansas Statutes 58-3035
- Brokerage firm: means the business entity of a broker, whether an association, corporation, limited liability company, limited liability partnership, partnership, proprietorship or professional corporation. See Kansas Statutes 58-30,102
- Client: means a seller, landlord, buyer or tenant who has an agency with a broker. See Kansas Statutes 58-30,102
- Commission: means the Kansas real estate commission. See Kansas Statutes 58-3035
- Confidential information: means information made confidential by statute, rule, regulation or instructions from the client or personal information about the client which might place the other party at an advantage over the client unless the information is made public or becomes public by the words or conduct of the client to whom the information pertains or from a source other than the licensee. See Kansas Statutes 58-30,102
- Contract: A legal written agreement that becomes binding when signed.
- Designated agent: means a licensee affiliated with a broker who has been designated by the broker, or the broker's duly authorized representative, to act as the agent of a broker's buyer or seller client to the exclusion of all other affiliated licensees. See Kansas Statutes 58-30,102
- Licensee: means any person licensed under this act as a broker or salesperson. See Kansas Statutes 58-3035
- Property: includes personal and real property. See Kansas Statutes 77-201
- Supervising broker: means an individual, other than a branch broker, who has a broker's license and who has been designated as the broker who is responsible for the supervision of the primary office of a broker and the activities of salespersons and associate brokers who are assigned to such office and all of whom are licensed pursuant to subsection (b) of Kan. See Kansas Statutes 58-3035
- Transaction broker: means a broker who assists one or more parties with a real estate transaction without being an agent or advocate for the interests of any party to such transaction. See Kansas Statutes 58-30,102
(2) If a buyer client of a designated agent wants to see a property which was personally listed by the broker, the broker, with the written consent of the seller, may specifically designate an affiliated licensee who will act as legal agent of the seller client to the exclusion of all other affiliated licensees. The written consent of the seller shall contain the name of the prospective buyer and shall acknowledge that the broker shall act as a transaction broker regarding any transaction with the buyer. The written consent of the seller shall be signed prior to presentation of any offer.
(3) A designated agent of a seller client shall have the duties and obligations set forth in Kan. Stat. Ann. § 58-30,106, and amendments thereto. A designated agent of a buyer client shall have the duties and obligations set forth in Kan. Stat. Ann. § 58-30,107, and amendments thereto.
(4) In any transaction involving a designated agent, the supervising broker of the designated agent shall act as a transaction broker pursuant to Kan. Stat. Ann. § 58-30,113, and amendments thereto, unless both buyer and seller are represented by designated agents and the designated agents are supervised by the same branch broker. In that case, the branch broker shall act as a transaction broker pursuant to Kan. Stat. Ann. § 58-30,113, and amendments thereto. The supervising broker, or branch broker if applicable, may appoint an affiliated licensee to act in the transaction as a transaction broker pursuant to Kan. Stat. Ann. § 58-30,113, and amendments thereto.
(5) A designated agent may disclose to the designated agent’s supervising broker, or branch broker if applicable, and to an affiliated licensee appointed as a transaction broker pursuant to paragraph (4), confidential information of a client for the purpose of seeking advice or assistance for the benefit of the client in regard to a transaction.
(6) If a buyer client of a designated agent wants to see a property owned by a seller client of the designated agent, the designated agent may act as a transaction broker pursuant to Kan. Stat. Ann. § 58-30,113, and amendments thereto, with the informed consent of the seller client and buyer client. The informed consent shall be evidenced by a transaction broker addendum to the agency agreements and shall be signed by the buyer prior to writing the offer and by the seller prior to signing the contract.
(c) The commission, by rules and regulations, shall adopt a transaction broker addendum form to be used by licensees pursuant to this section.