Limited Service / Unserviced
How do I know if I have to enter my listing as a limited service or unserviced?
SECTION 1.2.1: LIMITED SERVICE AND UN-SERVICED LISTINGS:
Listing agreements under which the listing broker will not provide one, or more, of the following services:
(a) arrange appointments for cooperating brokers to show listed property to potential purchasers but instead gives cooperating brokers authority to make such appointments directly with the seller(s);
(b) accept and present to the seller(s) offers to purchase procured by cooperating brokers but instead gives cooperating brokers authority to present offers to purchase directly to the seller(s);
(c) advise the seller(s) as to the merits of offers to purchase;
(d) assist the seller(s) in developing, communicating, or presenting counter-offers;
(e) participate on the seller(s) behalf in negotiations leading to the sale of the listed property.
(f) schedule and coordinate the closing and order a title insurance policy;
(g) accept and hold earnest money.
Limited Service and Un-serviced Listings will be identified with a code (“LS”) in MLS compilations so potential cooperating brokers will be aware of the extent of the services the listing broker will provide to the seller(s), and any potential for cooperating brokers being asked to provide some or all of these services to listing brokers’ clients, prior to initiating efforts to show or sell the property. (Effective 7/1/04)