38.0k views
2 votes
A licensee enters into an exclusive listing agreement that limits the firm's duties to entering the information in the Multiple Listing Service and holding 2 open houses. The seller will be responsible for offer negotiations. The broker drafts these provisions into a Limited Service Agreement. Has the licensee violated License Law?

1 Answer

4 votes

Final answer:

The licensee has not violated License Law by drafting a limited service agreement that clearly defines the scope of their duties and responsibilities.

Step-by-step explanation:

The licensee has not violated License Law by drafting a limited service agreement that limits the firm's duties. In real estate, the concept of limited service agreements allows the parties involved to negotiate the terms of their agreement and define the scope of the services provided by the licensee.

In this case, the licensee has specified that their duties are limited to entering information in the Multiple Listing Service and holding open houses, with the seller being responsible for offer negotiations.

While license laws and regulations vary by jurisdiction, drafting a limited service agreement is generally allowed as long as all parties involved are aware of the terms and agree to them. It is important for the licensee to ensure that they comply with any specific requirements or regulations set forth by their local licensing authority.

User Vtambourine
by
8.8k points