HOW:

Funds will be directly deposited into the bank account that was provided in the agent’s initial onboarding.

WHEN:

The agent will see commissions 1-2 business days after NWG receives the commissions check. 

If the check arrives at NettWork Global at or before 2pm, you will see commissions the next day. After 2pm, the check would be processed on the next day and paid one day later.

ONLY IF:

You have fulfilled your duties as an agent of NettWork Global and the transaction documents must also be approved by the compliance department. Once approved, the agent will receive notification via email and can see the approved status in Broker Sumo.
Notes on compliance, status of approval and all compliance conversations can be seen in Broker Sumo inside the transaction.

Possibly

Instead of waiting until the check arrives at NettWork Global via courier or express delivery, the agent can bring the commissions check to NettWork Global on the day of closing/funding and therefore save a day of processing.

Time Cutoff

The check must arrive to NettWork Global Corportate office by 2pm in order to be processed the same day. Any deliveries after 2pm will count toward the next business days processing.

Freedom Title

Closing at Freedom Title will also save a day of express delivery. With hand-delivery daily, you will ge paid one day faster.

eCommissions

There are also services such as eCommissions that will advance you the funds of a property under contract, and take a % of the closing amount. This would be handled directly with the closing company. You would contact the company directly and have a notice sent to Mike B. Nettemeyer at compliance@nettworkglobal.com.

Compensation Amounts over $50,000

If you are scheduled to receive a single commission payment over $50,000, you should expect to have a one business-day hold on this payment as our bank takes one more day to allow those funds to clear. 

Two checks of $25,000 each will have no delay in processing.

Do not hesitate to reach out if this applies to you.

You think you want to go into referral status, what does this mean?

Transfer Process

• $55 MREC license transfer from NWG to NWG Referrals w form to fill and sign. Can be signed electronically and we will manage sending and payment, simply deducting from Agent's account.

• NWG will manage your disaffiliation from NWG and let your realtor association know. At that point, the board will manage your cancellation of Supra and Maris, but it would be a good idea to double-check with them. NWG has no influence over that aspect. 

Contracts and Representation

• Referral agent will not be able to have their name on any sales contracts, or listing/buyer agreements, only referral agreements.

• Disclosure of licensed agent (page 8) will still apply if a party to the contract

• Referral agent will still be listed as 'active on MREC website, simply affiliated with NWG Referrals

• Referral form for each deal will be required. NWG paying NWG Referrals.

• Referral agent will enter the transaction into Broker Sumo as their own deal. This is relevant if the referral comes from inside NWG or outside of NWG. 

NWG Fees and Access

• NWG fee for referrals will be $150 regardless of the side or ownership of the property.

• $0 monthly fee or other fee

• Referral agent can still attend all trainings, use office space, and printer

• Referral agent can still be named Growth Share sponsor and receive payments

• Referral agent will not have access to KVCore or appear on the website.

• Referral agent will still have access and visibility in NWGAgents FB Group.

Continuing Education

• Referral agent will still be obligated to continue CE and renewal process

From MREC website:

There is no referral status for Missouri real estate licensees. If your license is placed with a broker or company that only permits referrals, your license is considered active with the MREC. The license is required to be renewed in the even-numbered years and continuing education is required to renew.

Please reach out to compliance@nettworkglobal.com if you have any questions.

All training events will be published in two places.

Eventbrite

and

Google Calendar

Click Here to visit the list of NWG Exclusive event page.

Click Here to view the calendar. Click the +Google Calendar in the bottom right corner.

PRO TIP: Register via Eventbrite and you will receive email reminders.

Fair Housing CORE Mandate for 2024-2026 License Renewal Period (Current Renewal Period)

RULE 20 CSR 2250-10.100 Continuing Education Requirements for Licensees (3) states, "At least three (3) hours of the twelve (12) hours of approved instruction shall be taken in a course identified by the Missouri Real Estate Commission and noticed on its official website, no later than March 31 of each even-numbered year as a core course for the following renewal period."

The current broker and salesperson renewal for the 2024-2026 license period will require an approved CORE course on Fair Housing. As you know, Missouri regulations currently require 12 hours of continuing education, of which at least 3 hours must be a CORE course. Therefore, if a licensee only takes one CORE course for the current renewal period (2024-2026), it must be a Fair Housing course. The licensee can, however, take all 12 hours comprised of CORE courses if they choose to do so.

Most training events will be broadcast live in zoom and posted as recordings into the NettWork Global Agents Only Facebook group.

Many trainings will be uploaded to the Training Page here on the Intranet.

Our NAID is  NTTWRK2035

Your fiduciary duty to your client requires that you fully understand and are able to interpret and answer questions regarding the contracts which you present to them. If you are a listing agent and you receive an offer written on a Missouri form, or any other non-traditional sales contract, you could take the offer and present it back to the buyer/buyer's agent on a SLAR sales contract. You would explain the need for a new contract form, and not yet have your seller sign. This would allow the buyer to review, and make any changes. If changes were made, you and youor seller could prepare and submit a counteroffer, if needed.

This is the same for any amendments or inspection resolutions presented on a different form type (Missouri vs SLAR) from what you are comfortable with. The Missouri inspection forms operate and dictate response differently than the SLAR forms. The amendments reference different paragraphs and line numbers depending on form type. 

All SLAR contracts need to be amended and resoloved with SLAR documents.

All Missouri contracts need to be amended and resolved with Missouri documents.

Please connect with the compliance department if you have any questions about this process.

In the MLS under the "Search" tab there is a Commercial and Industrial section. 

You can also search on the following websites or Loopnet.com, crexie.com, propertyshark.com, commercialexchange.com.

You can also go directly to larger commercial brokers websites like Gershman Commercial, Sansone Group, Hilliker Corp, CBRE, Pace Properties, etc. 

SLAR also offers a commercial membership at an additional cost with access to a commercial database called stlcds.com however we found many commercial brokers did not use that site.

Caller: Jessica Vargas

Designated Broker: Michael Nettemeyer

Call Id#: CAS-18148-B5P8P4

Dear Jessica,

Thank you for calling the Missouri REALTORS® (“MR”) LEGAL LINE. We are pleased to provide LEGAL LINE as one of your Association’s most desired risk management service benefits. LEGAL LINE is an educational tool designed to help keep Missouri REALTORS® generally aware on a variety of legal topics involving real estate.

LEGAL LINE provides legal information, not legal representation. LEGAL LINE is NOT a substitute for or designed to provide any legal or other professional advice,  strategy or advocacy specific to any individual situation.   You must consult your private attorney or other professional for such matters and should encourage your clients to seek legal counsel as appropriate. Further, to the extent any information set forth herein relates to the National Association of REALTORS® ("NAR") Code of Ethics, its interpretation or enforcement, such information reflects the understanding and opinions of LEGAL LINE and does not represent an official expression of policy by NAR.

We hope that the response below satisfies your inquiry. Our response is based solely on the facts recited in your question. It is general information intended for your educational use only and is not to be relied upon by or passed on to clients or customers. In any particular transaction, a complete review and understanding of the facts is necessary and it may be advisable that you and/or your clients review this matter in greater depth with your legal counsel. 

Question 1 of 2:

My seller wished to rescind a counter they sent to a buyer since we received a better offer. I emailed the buyer's agent and said the seller rescinds. She sent an "Offer Withdrawal" form from IL and said that our [rescission] was not valid since it was not signed by the seller. She said it does not count for an agent to express this wish on behalf of the seller, that it must be conveyed with signatures from the seller in order to be valid. She says since her buyer has now accepted the counteroffer and is under contract. Are we under contract or is the email I sent a legitimate way of rescinding an offer?

Answer 1 of 2:

Under general principles of contract law, an offer may be revoked by the offeror at any time before acceptance by the offeree. Here, as long as Seller (offeror) communicated to Buyer (offeree) via Buyer’s Agent that (s)he was revoking the offer before Buyer accepted it, it would likely be a valid revocation.

In order for a valid acceptance of a real estate offer to occur, the offeree (here, Buyer) must notify the offeror (here, Seller) of that acceptance before the Acceptance Deadline. As stated above, until the offeror has notice of a valid acceptance by the offeree, the offeror can freely revoke the offer by giving the offeree notice of the revocation. Thus, if Seller notified Buyer (via his/her Agent) of the revocation, there was probably a valid revocation, meaning that Buyer can no longer accept Seller’s offer.

Title: Acceptance is Two Parts

Question 2 of 2:

Can LEGAL LINE provide some information on the act of Acceptance?

Answer 2 of 2:

Under contract law, acceptance of an offer has two parts: (1) Actual Acceptance; and (2) Notice (of acceptance).  While notice of acceptance may be given orally, the act of acceptance itself must generally start with the actual signature (or digital mark of some kind) of both parties to the contract. This is all consistent with the general rule of law (the Statute of Frauds) which requires agreements for the sale of real estate to be in writing in order to be enforceable (see §432.010 RSMo). However, Notice of acceptance cannot be given unless the act of acceptance has actually taken place (since notice of something that has not occurred cannot be given).

Additionally, for a detailed explanation on formation of contracts, LEGAL LINE has created a “Keeping it Legal” video called “Contracts 101”. Members can view this video by logging into their accounts at http://www.missourirealtor.org and navigating to the “Risk Management” tab near the top of the screen. After clicking on the tab, a dropdown menu will appear and members should select the “Keeping it Legal videos” link. The “Contracts 101” video can be found on the resulting page.

Caller: Jessica Vargas

Designated Broker: Michael Nettemeyer

Call Id#: CAS-17742-T8B4V4

Dear Jessica,

Thank you for calling the Missouri REALTORS® (“MR”) LEGAL LINE. We are pleased to provide LEGAL LINE as one of your Association’s most desired risk management service benefits. LEGAL LINE is an educational tool designed to help keep Missouri REALTORS® generally aware on a variety of legal topics involving real estate.

LEGAL LINE provides legal information, not legal representation. LEGAL LINE is NOT a substitute for or designed to provide any legal or other professional advice,  strategy or advocacy specific to any individual situation.   You must consult your private attorney or other professional for such matters and should encourage your clients to seek legal counsel as appropriate. Further, to the extent any information set forth herein relates to the National Association of REALTORS® ("NAR") Code of Ethics, its interpretation or enforcement, such information reflects the understanding and opinions of LEGAL LINE and does not represent an official expression of policy by NAR.

We hope that the response below satisfies your inquiry. Our response is based solely on the facts recited in your question. It is general information intended for your educational use only and is not to be relied upon by or passed on to clients or customers. In any particular transaction, a complete review and understanding of the facts is necessary and it may be advisable that you and/or your clients review this matter in greater depth with your legal counsel. 

Title: Intent of Parties May Determine Whether a Contract Exists

Question: 

My sellers signed an offer after the acceptance deadline. I wrote a contract amendment extending the acceptance deadline. The buyer side has not signed it but says adamantly we are under contract because the intent was there for them to move forward. I've been under the impression everyone has to agree to extend acceptance deadline in order for a contract to be ratified.

Answer:

Once the stated “Acceptance Deadline” of any offer (whether an initial offer or a counteroffer) has passed, the offer has expired and can generally no longer be accepted by the offeree to create a binding enforceable contract. By purporting to accept an offer after the “Acceptance Deadline,” the original offeree in effect makes a new offer that the original offeror is then free to accept or reject.

As a matter of best practices, it is generally best to submit a whole new “base” form contract (that has been completed to reflect the latest desired terms to be proposed if there have been counteroffers submitted). However, as a purely legal matter, under general rules of contract construction the primary concern and objective of a court of law is to give effect to the true intentions of the parties. 

If the parties move forward as if they are under contract even though the “acceptance” came after the Acceptance Deadline, it would be messy and may potentially raise concerns, but a court may find that there is a binding contract between the parties based on the parties' conduct. To clarify the situation, at a minimum a written memorandum or letter could be signed by each party, affirming that they are under contract according to the terms of the document signed by both of them.  However, as stated before, best practice is generally to resubmit a new contract with the agreed-upon terms.

For a detailed explanation of the formation of contracts, LEGAL LINE has created a “Keeping it Legal” video called “Contracts 101”. Members can view this video by logging into their accounts at http://www.missourirealtor.org and navigating to the “Risk Management” tab near the top of the screen. After clicking on the tab, a dropdown menu will appear, and members should select the “Keeping it Legal videos” link. The “Contracts 101” video can be found on the resulting page.

Caller: Michael B Nettemeyer, Sr (Mike)

Designated Broker: Michael B Nettemeyer, Sr (Mike)

Call Id#: CAS-16448-G2H6R7

Dear Mike,

Thank you for calling the Missouri REALTORS® (“MR”) LEGAL LINE. We are pleased to provide LEGAL LINE as one of your Association’s most desired risk management service benefits. LEGAL LINE is an educational tool designed to help keep Missouri REALTORS® generally aware on a variety of legal topics involving real estate.

LEGAL LINE provides legal information, not legal representation. LEGAL LINE is NOT a substitute for or designed to provide any legal or other professional advice, strategy or advocacy specific to any individual situation.   You must consult your private attorney or other professional for such matters and should encourage your clients to seek legal counsel as appropriate. Further, to the extent any information set forth herein relates to the National Association of REALTORS® ("NAR") Code of Ethics, its interpretation or enforcement, such information reflects the understanding and opinions of LEGAL LINE and does not represent an official expression of policy by NAR.

We hope that the response below satisfies your inquiry. Our response is based solely on the facts recited in your question. It is general information intended for your educational use only and is not to be relied upon by or passed on to clients or customers. In any particular transaction, a complete review and understanding of the facts is necessary and it may be advisable that you and/or your clients review this matter in greater depth with your legal counsel. 

Title: Advertising Requirements by Licensees and REALTORS®

Question: 

What are the general advertising requirements for licensees and REALTORS®?

Answer:

Is the DID number equivalent to the brokerage office number? If the sign or marketing only list the DID number that goes directly to the agent would they still be in compliance since it does not ring directly to the brokerage office?:

As long as the phone number is registered as a Brokerage phone number with the MREC that is probably fine. However the MREC should be contacted for clarification. Below is the standard Advertising memo:

“(1) Disclosure.

(A) A licensee shall not advertise to sell, buy, exchange, rent, lease or manage property in any manner indicating that the offer to sell, buy, exchange, rent, lease or manage the property is being made by a private party not engaged in the real estate business. If any part of the offering, negotiation or completion of a real estate transaction is to be handled by, through or under the direction or supervision of a licensee, directly or indirectly, the licensee shall not advertise or represent to the public in any manner that the property is for sale or lease by the owner.

(B) If a licensee advertises to sell, buy, exchange, rent, lease or manage property in which the licensee has an interest, and if the property is not listed by a brokerage entity, the advertisement shall contain, in a prominent fashion, one (1) of the following:

1. By owner-broker;

2. By owner-salesperson; or

3. By owner-agent.

(C) Nothing in this section shall be construed to eliminate the disclosure requirements found elsewhere in these rules, including those contained in 20 CSR 2250-8.110.

(2) No real estate advertisement by a licensee shall show only a post office box number, telephone number or street address. Every advertisement of real estate by a licensee shall contain the broker’s regular business name or the name under which the broker or the broker’s firm is licensed and shall indicate that the party advertising is a real estate broker and not a private party.

(3) Every advertisement of real estate by a licensee where the licensee has no interest in the real estate shall be make under the direct supervision and in the name of the broker or firm who holds the licensee’s license. If the licensee’s name or telephone number, or both, is used in any advertisement, the advertisement also shall include the name and telephone number of the broker or firm who holds the licensee’s license” (emphasis added).

Further, the National Association of REALTORS® (“NAR”) Code of Ethics and Standards of Practice provides some general guidance on REALTOR® advertisements. Probably the most relevant standard to advertising is set forth in Article 12, which states in short that “REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations” (emphasis added).

Additionally, Standard of Practice 12-10 goes on to say that “REALTORS®’ obligation to present a true picture in their advertising and representations to the public . . . prohibits REALTORS® from . . . mislead[ing] consumers” (emphasis added). Licensees should always look at each advertisement on a case-by-case basis and make a judgment call as to if they could be misleading to consumers when “viewed from an average consumer’s perspective.”

From a risk management standpoint, by judging each potential advertisement and not using those that may have the potential to  mislead consumers, licensees can attempt to keep their advertisements compliant with NAR’s Code of Ethics. Ultimately, only a panel or jury convened to hear such a case can decide on these fact-specific issues, but if the ad is borderline, it would likely be the safest course of action for licensees to not use it.

Caller: Lisa Rozier

Designated Broker: Michael Nettemeyer

Call Id#: CAS-15892-S2Y1V0

Dear Lisa,

Thank you for calling the Missouri REALTORS® (“MR”) LEGAL LINE. We are pleased to provide LEGAL LINE as one of your Association’s most desired risk management service benefits. LEGAL LINE is an educational tool designed to help keep Missouri REALTORS® generally aware on a variety of legal topics involving real estate.

LEGAL LINE provides legal information, not legal representation. LEGAL LINE is NOT a substitute for or designed to provide any legal or other professional advice, strategy or advocacy specific to any individual situation.   You must consult your private attorney or other professional for such matters and should encourage your clients to seek legal counsel as appropriate. Further, to the extent any information set forth herein relates to the National Association of REALTORS® ("NAR") Code of Ethics, its interpretation or enforcement, such information reflects the understanding and opinions of LEGAL LINE and does not represent an official expression of policy by NAR.

We hope that the response below satisfies your inquiry. Our response is based solely on the facts recited in your question. It is general information intended for your educational use only and is not to be relied upon by or passed on to clients or customers. In any particular transaction, a complete review and understanding of the facts is necessary and it may be advisable that you and/or your clients review this matter in greater depth with your legal counsel. 

Title: Brokerage Service Agreements are Formed Between Client and Broker

Question 1 of 2:

Agent had several current brokerage service agreements with clients at Broker A. Now Agent has moved to Broker B’s office. Broker A has locked Agent out of her electronic files. What are Broker A’s and Agent’s respective rights with regards to the brokerage service agreements?

Answer 1 of 2:

A brokerage service agreement is formed only between a client and the broker, even if an affiliated licensee procures the client. Accordingly, clients generally “belong” to the brokerage company with whom they signed a brokerage service agreement, not to the individual licensees thereof. A brokerage company is not obligated to allow a departing agent to continue to work on a pending transaction, and a client may generally only terminate an agency agreement “for cause” (i.e., if breach has been committed by broker), unless customized language was added prior to its execution allowing for termination if a particular agent were to leave the company (which is something that is not provided for in the MR “standard form” agency agreements, or in any local board standard forms to the knowledge of LEGAL LINE). In the absence of such a term, without original Broker’s consent to terminate the agency agreement, the agent may no longer represent the client after leaving the brokerage (at least until the initial agency agreement expires and a new agency agreement is signed). 

With that said, the situation could presumably be handled in a variety of ways (but ultimately, in a fashion that is similar to what is required when there is a voluntary closing of a brokerage company). 20 CSR 2250-8.155 provides in this regard (in relevant part at subsection 3 thereof) that: “All listing, buyer, tenant, and management clients must be advised in writing that they may enter into a new listing, buyer, tenant, or management agreement with the broker of their choice.” Although parties to a brokerage service agreement are generally not able to unilaterally withdraw from it (without cause), as a practical matter, brokers will often agree to terminate a listing or buyer’s agency agreement if requested (and it is common for a split of the commission and appropriate release and indemnity agreement to be negotiated between the “old” and “new” brokers in this regard).  

Under the above circumstances, the consent of all parties (including both the clients and Brokers) is required. The first step then would be for “new” broker to speak with “old broker” to confirm that old Broker will agree to allow the specified clients to move on to work with Agent’s new company (in order to avoid any potential claims of attempting to “steal clients” or improper interference with existing exclusive brokerage service agreements in violation of State law as well as Article 16 of the NAR Code of Ethics and Standards of Practice thereunder).  If so, then there are at least a couple options.

First, the simplest way to handle this may be to simply terminate the existing listing agreements and then enter into brand new listing agreements between the clients and new brokerage company. 

Another potential option is for Agent to request “old” Broker to assign the existing brokerage agreements.  Note in this regard that “A listing agreement or other written agreement for brokerage services may not be assigned, sold, or otherwise transferred to another broker without the express written consent of all parties to the original agreement.”  20 CSR 2250-8.090(4)(G).  In either case, an assignment or a new brokerage agreement would require both old Broker’s and the client’s written consent in order to proceed.  Since the “old” broker is not automatically released from liability under the terms of the “old” brokerage agreements, this can make negotiations over indemnity and adequate security for future performance by the ‘new’ broker key issues to consider and negotiate (as well as the potential sharing of any commission earned in the event of a subsequent closing of a transaction involving the subject clients). 

There are no ‘standard form’ documents for the “transfer” or “assignment” of clients promulgated by MR or, to the knowledge of LEGAL LINE, any other local board.  Although they are not necessarily a complicated document, as indicated above, they can be heavily negotiated.  Therefore, Agent and Broker should consult private counsel for specific advice, guidance, and the drafting of any necessary documentation to effect a potential “transfer” of clients. 

Finally, the amount of commission “earned” by Agent while working for “old” broker is in the first place, something that is negotiable between them (and preferably is clearly spelled out in the employment or independent contractor agreement between them). If not, then whatever is customary or typical in the office would presumably apply (and industry customs in this regard may come into play as well in the event of a dispute). For additional general discussion on the topic, see the “Keeping it Legal” video titled “Agent Relocation” at http://www.missourirealtor.org/riskmanagement/legalline/keepingitlegal.

Question 2 of 2:

What are the MREC document retention regulation requirements?

Answer 2 of 2:

The legal obligation to retain records of real estate transactions falls on the broker under Missouri law and regulations. Pursuant to MREC Regulation (20 CSR 2250-8.160), a broker is required to retain, for a period of 3 years:

"true copies of all business books; accounts, including voided checks; records; contracts; brokerage relationship agreements; closing statements and correspondence relating to each real estate transaction that the broker has handled."   

Still, there are risk management reasons why a broker may want to retain such records for longer periods.  For instance, such records may be relevant and expected to be available if a complaint is later filed or investigated against a broker or an agent. It should also be noted that statutes of limitations (for contract and other claims) are generally longer than the MREC 3-year record retention requirement. As a purely legal matter, the applicable statute of limitations sets forth the ultimate time deadline by which a complaint/claim may be filed (or is forever barred).   

Missouri has 5-year and 10-year statutes of limitation that apply to contract disputes. The 5-year time period will apply to most real estate sale contracts. In Hughes Development Co. v. Omega Realty Co. 951 S W. 2d 615 (Sup. Ct., Mo., 1997), the Missouri Supreme Court, resolving 150 years of confusion, held that the 10-year statute applies to contract disputes regarding payment of money.

In a fraud action, the applicable statute of limitations may be "tolled" (held in abeyance for a period of time) if the defrauded party did not know and reasonably could not have known of the fraudulent circumstances giving rise to the claim. 

Each of these examples provides a reason for keeping records longer than the 3-year regulatory minimum set by MREC. Essentially, a complete and properly maintained file may be useful (and to the advantage of a broker) should any legal claim arise after the 3-year period. 

Electronic storage may be possible, although it is not specifically authorized by the regulation. The MREC should be contacted for more information in this regard. With regard to disposal of records, paper records should be shredded to protect against possible confidential information leaks.

Caller: Michael Nettemeyer

Designated Broker: Michael Nettemeyer

Call Id#: CAS-15443-T8R1P7

Dear Michael,

Thank you for calling the Missouri REALTORS® (“MR”) LEGAL LINE. We are pleased to provide LEGAL LINE as one of your Association’s most desired risk management service benefits. LEGAL LINE is an educational tool designed to help keep Missouri REALTORS® generally aware on a variety of legal topics involving real estate.

LEGAL LINE provides legal information, not legal representation. LEGAL LINE is NOT a substitute for or designed to provide any legal or other professional advice, strategy or advocacy specific to any individual situation.   You must consult your private attorney or other professional for such matters and should encourage your clients to seek legal counsel as appropriate. Further, to the extent any information set forth herein relates to the National Association of REALTORS® ("NAR") Code of Ethics, its interpretation or enforcement, such information reflects the understanding and opinions of LEGAL LINE and does not represent an official expression of policy by NAR.

We hope that the response below satisfies your inquiry. Our response is based solely on the facts recited in your question. It is general information intended for your educational use only and is not to be relied upon by or passed on to clients or customers. In any particular transaction, a complete review and understanding of the facts is necessary and it may be advisable that you and/or your clients review this matter in greater depth with your legal counsel. 

Question 1 of 2:

Buyers agency and listing agreement start date.
Does the client have to sign within a certain number of days of this date?
ex: jan 1 agreement starts, Jan 7 client signs. When does the agreement begin? January 1 or January 7 when the client signs the agency agreement.

Answer 1 of 2:

The date that the last party signed the Contract (being the manner by which its acceptance is accomplished) is essentially the actual “acceptance date/effective date” of a contract. Even if the parties put that the start date is January 1, there is not an enforceable agreement until both parties sign. Thus in the scenario described the agency agreement was not valid/enforceable until January 7.

Question 2 of 2:

It is assumed that the beginning date of the buyers agency has to be on or prior to the contract date of contract or marketing date of listing. Please confirm that this assumption is correct.

Answer 2 of 2:

This is going to be a case by case situation. If agent is marketing a listing before there is a signed listing agreement then there can be MREC implications of advertising a property without the requisite written consent of the owner. However there could be situations where a Buyer or Seller is already under contract and then reaches out to a Brokerage for representation. Clearly in that situation an agency agreement would have been signed after the sale contract.