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Limited Services Disclosure 1. PROPERTY ADDRESS: 2. In consideration of Broker accepting a nonrefundable flat fee and reducing its COMMISSION to 0% in the Listing Agreement; the parties also agree
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How to fill out limited services disclosure
How to Fill Out Limited Services Disclosure:
01
Begin by obtaining the limited services disclosure form from your local real estate association or an online resource. This form is typically required when a real estate agent or broker is providing limited services to a client, such as assisting with specific aspects of a real estate transaction instead of full representation.
02
Fill in your personal information, including your name, contact information, and any applicable license numbers. This information is necessary to identify you as the agent or broker involved in the limited services agreement.
03
Clearly state the nature of the limited services you will be providing. This could include tasks such as market analysis, contract review, or assistance with negotiations. Be specific in outlining what services you will not be providing as part of the limited agreement.
04
Provide a detailed explanation of the limited services fee structure. This should include any upfront fees, hourly rates, or commission percentages that will be charged. It's important to be transparent with your client about the financial aspect of the limited services.
05
Include a section for the client to acknowledge their understanding and agreement to the limited services disclosure. This can be done through a signature or initials. Both the client and the agent or broker should sign and date the form to make it legally binding.
Who Needs Limited Services Disclosure:
01
Homeowners who are experienced in the real estate market and require minimal assistance from an agent or broker. They might need help with specific aspects of a transaction but feel confident in handling most of the process themselves.
02
Individuals who are looking to save on commission costs by only utilizing specific services from a real estate professional. Limited services disclosure allows for customized assistance while reducing overall fees.
03
Buyers or sellers who have a strong understanding of the local real estate market and need minimal guidance from an agent. Limited services allow them to stay in control while having an industry professional for additional support in certain areas of the transaction.
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