Which of the following must be stated when a dual agency agreement has been authorized by the licensee, buyer, and seller in Missouri?

While commission terms are important in real estate transactions, they do not specifically address the nature of the agency relationship. Stating commission details does not fulfill the requirement to clarify the dual agency situation, which is primarily concerned with the licensee's representation.

This statement contradicts the nature of a dual agency agreement. In a dual agency, the licensee cannot represent the buyer exclusively, as dual agency implies a neutral position where the licensee represents both parties without favoring one over the other.

Similar to option C, this option misrepresents the concept of dual agency. A dual agent cannot act exclusively on behalf of the seller, as the essence of dual agency is to balance the interests of both the buyer and the seller without bias.