Kansas Real Estate Commission

Kansas Real Estate Commission Statutes, Rules and Regulations 

• Corporations
• Partnerships 
• Limited Liability Companies 
• Limited Liability Partnerships 

• Complete the Trust Account Form (attached to the original form) if the new company or branch will not maintain a trust account. 
  • give a complete list of all officers of the corporation or members of the partnership, LLC or professional association, the office held by each (or designate as partner/member), and their Kansas real estate license number, if licensed. 
  • If the officer/partner/member is not licensed in Kansas, check “Unlicensed.”

• Each broker shall maintain, in the broker’s name or the broker’s firm name, a separate trust account in this state, or in an adjoining state with written permission of the commission, designated as such.
• All down payments, earnest money deposits, advance listing fees or other trust funds received in a real estate transaction by the broker or by the broker’s associate brokers or salespersons on behalf of a principal or any other person shall be deposited or invested in such account unless all parties having an interest in the funds have agreed otherwise in writing.
• The account shall be with an insured bank or savings and loan association or credit union which is insured by an insurer or guarantee corporation as required under K.S.A. 17-2246, and amendments thereto.
• Each broker shall notify the commission of the name of the bank, credit union or savings and loan association in which the trust account is maintained and of the account name by completing a consent to audit form obtained from the commission.

• There is no license for companies. Individuals are licensed to do business under a company name, which is approved by the commission. 
• Nonresident brokers may have a company in their state of residence or in Kansas.
• Kansas resident brokers may have a company in Kansas or in an adjoining state.
• Each licensed resident broker shall have and maintain a primary office in the state of Kansas, or in an adjoining state. Each licensed nonresident broker shall have and maintain a primary office in the broker’s state of residence or in the state of Kansas.

• The "Supervising Broker" is 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.
•  A supervising broker shall be designated to supervise the primary office and the activities of salespersons and associate brokers assigned to the primary office. Each additional office or place of business, other than the primary office, shall be designated a branch office and a branch broker shall be designated to supervise such office and the activities of salespersons and associate brokers assigned to such office.