A “Limited Service Licensee” (LSL) serves in a customer service capacity for Full Time real estate professionals. LSL’s are permitted to provide “access only” Showing Services and Open House Hosting Services. This means an LSL will only be permitted to provide access for consumers to view a property, but NOT provide professional advice, prepare or present contracts or represent opinions of value of the properties they are accessing.
Why work with a Full Time agent using a Limited Service Licensee?
Anxious home buyers usually want to look at as many properties as possible. They simply need to get a look inside a home to see if it meets their needs. Busy Full Time real estate professionals can use LSL’s to provide access to the interiors of homes which may be of interest to the buyer. If the buyer finds a home they want to buy, the Full Time real estate professional will handle the real estate transaction from there.
Anxious home sellers may want to regularly conduct Open Houses, but Full Time real estate professionals cannot be at multiple properties at the same time. The Open House Hosting Services of an LSL allows the Full Time agent to conduct multiple Open House events each week. If the buyer visits an Open House and they want to buy, the Full Time real estate professional will handle the real estate transaction from there.
Why become a Limited Service Licensee, rather than a Full Time real estate professional?
A Limited Service Licensee usually serves in this capacity for one of the following reasons:
- They are just learning the real estate business and they are hoping to gain valuable experience working with a Full Time real estate professional. This is a great way to start in real estate!
- They do not want to do everything a Full Time real estate agent is required to do in a real estate transaction. They are happy just showing homes and meeting people. They see it as a great part time job, doing what they enjoy.
- They enjoy the part time commitment and the ability to choose the hours they will work. They want to make a few dollars from the real estate license they worked hard to obtain. It helps to keep them in touch with the real estate industry and marketplace.
- This is a great way for a Full Time real estate professional to transition into a part time position or retirement.