Free Missouri Real Estate Salesperson Practice Exam 2025

In Missouri, sellers are legally required to provide a disclosure statement that outlines any known material defects or issues with the property. This disclosure must be presented before or at the time the buyer signs the earnest money contract. This ensures the buyer has full knowledge of the property's condition before committing financially. Failure to disclose properly can result in legal liability for the seller or agent.

Missouri’s fair housing law includes familial status as a protected category, reinforcing protections for households with children or pregnant individuals in housing access and treatment.

Missouri Fair Housing laws apply to all individuals and entities involved in housing transactions, including owners, landlords, brokers, developers, and property managers.

Any action that involves misrepresentation, failure to obtain proper consent, or breach of fiduciary duty is a violation of Missouri license law. These behaviors can result in penalties or license suspension.

Familial status—such as households with children or pregnant women—is a protected class under Missouri’s fair housing law, ensuring housing access for families.

Missouri’s fair housing laws do not recognize "credit" as a protected class. Protected classes under Missouri law include race, color, religion, sex, disability, familial status, and national origin.

Chapter 339 of the Revised Statutes of Missouri governs the licensing and regulation of real estate professionals. It outlines licensure procedures, disciplinary actions, and legal obligations.

The Missouri Real Estate Commission (MREC) oversees licensing, regulation, enforcement, and education of real estate professionals. It ensures legal compliance and protects public interest.

Dual agency is legal in Missouri only if all parties provide prior written informed consent. The agent must disclose their dual role and obtain approval before proceeding with the transaction.

Missouri law requires executed contracts to be retained by the broker for at least 3 years after all parties receive copies. These documents serve as evidence in case of disputes or audits.

Any individual affiliated with a broker who engages in real estate activities for compensation must be licensed. There is no exemption for assistants or team members acting in a broker’s capacity.

Showing residential property to prospective buyers also requires written consent from the owner. Verbal agreements are insufficient for legal compliance with advertising or property access rules.

Licensees in Missouri must obtain the property owner’s written consent before advertising, placing a sign, or showing the property. This written authorization is a legal prerequisite under Missouri law.

Unless otherwise specified in writing, brokers must deposit earnest money within 10 banking days after the final acceptance of a purchase agreement, per MREC Rule 4.1.1.

Under Missouri law, salespersons must immediately deliver earnest money to their supervising broker upon receipt. Prompt transfer ensures transparency and trust account compliance.

The Missouri Real Estate Commission (MREC) includes six licensed brokers with a minimum of 10 years of active experience, and one public member, totaling seven members as defined by Missouri Statutes §339.120.

Missouri offers reciprocity agreements with select states, allowing licensed agents in those states to obtain a Missouri license more easily. Applicants must still meet background and application requirements.

Missouri real estate law prohibits net listings, where the broker retains amounts over a pre-agreed price. This type of listing is deemed unethical and illegal because it incentivizes agents to prioritize profit over clients’ best interests.

When a broker keeps proceeds above a seller’s stated price, this is considered a net listing, which creates a conflict of interest and is not allowed under Missouri license law due to risks of self-dealing.

Commingling—mixing client funds with a licensee’s personal or business funds—is strictly prohibited under Missouri law. This safeguard protects client assets and ensures fiduciary accountability (MREC Rule 4.1.5).

Missouri does not follow community property law. Instead, it applies the equitable distribution model, where marital property is divided fairly (not always equally) in divorce proceedings.

If a licensed broker dies or becomes incapacitated, MREC may issue a temporary broker’s license to allow continued operation of the brokerage for a limited time until a permanent broker is in place.

Missouri adheres to the lien theory of real estate financing, where the borrower retains legal title to the property and the lender holds a lien until the mortgage is paid off.

Anyone receiving a fee for helping others buy, sell, lease, or exchange real estate in Missouri must be licensed as a real estate broker. Acting without a license is a violation.

Even if a termite issue occurred 20 years ago, it is considered a material defect and must be disclosed to the buyer. Omitting such information could lead to liability for misrepresentation.

If a licensee legally changes their name (e.g., marriage or court order), they must notify MREC within 14 days and submit documentation to update their licensing records.

When a licensee advertises property they personally own and it’s not listed with a brokerage, they must disclose their ownership interest in the advertisement to comply with full disclosure rules.

If a civil penalty is not paid within the allowed time, MREC may refer the matter to the Missouri Attorney General’s Office for enforcement and collection of the outstanding amount.

If a broker relocates their office, they must notify MREC within 10 days. The Commission updates its records and ensures proper correspondence and regulatory oversight.

Missouri real estate licensees must complete continuing education every two years (biennially) to remain in good standing and renew their licenses without penalty.

When a broker ceases to practice, they are required to return their license to MREC within 3 months. This prevents unauthorized use and helps keep Commission records current.

The Missouri Real Estate Commission consists of seven members: six licensed real estate professionals and one public member not involved in the real estate business.

To renew a real estate license in Missouri, a licensee must complete 12 hours of continuing education, including a mandatory 3-hour core course approved by MREC.

Members of the Missouri Real Estate Commission (MREC) serve 5-year terms, as stated in state statutes. Commissioners may be reappointed but serve at the discretion of the Governor.

If any issue arises with the escrow account, brokers in Missouri must notify the buyer within 7 business days. This ensures transparency and gives the buyer time to take protective measures.

Missouri regulations generally expect commissions or fees owed to brokers to be paid within 30 days. Delays can lead to commission disputes and possible claims of breach of contract.

All real estate advertisements must clearly display the broker’s licensed business name, as registered with MREC, to avoid misleading the public and ensure accountability under Missouri regulations.

Civil penalties issued by the MREC must generally be paid within 30 days of issuance unless otherwise specified. Non-payment may lead to further administrative or legal consequences.

A real estate education completion certificate in Missouri is valid for 12 months from the date of completion. If the applicant does not apply for the licensing exam within that period, they must retake the course.

If a Missouri licensee suspects another licensee of a violation, they must file a written grievance with the Missouri Real Estate Commission (MREC). The Commission then determines whether an investigation is warranted based on the complaint.