A couple wishes to list a country estate with a licensee. The licensee feels this property should be shown by open house but the couple refuses and wants only printed ads in a national publication. Can the licensee accept such a listing?
Yes because the licensee must obey the lawful instructions of a principal.
In real estate, a licensee is obligated to follow the lawful instructions provided by their principal, which in this case, refers to the couple listing their property. As long as the couple's request does not violate any laws or regulations, the licensee must respect their wishes regarding advertising methods.
This choice correctly identifies the fundamental principle of agency in real estate. The licensee is bound to adhere to the instructions outlined by the couple, their principal, which allows them to dictate how their property should be marketed.
This option incorrectly assumes that zoning regulations would specifically prevent open houses for larger properties. While zoning laws may govern certain aspects of property use, they do not universally restrict open houses based on property size. Therefore, this rationale does not apply to the situation presented.
This choice misinterprets state license laws. There are no blanket prohibitions against national advertising expenditures in real estate listings, and such decisions are generally left to the discretion of the property owners and their licensees. Thus, this statement is inaccurate.
This option is misleading as it suggests that the licensee has unilateral decision-making power regarding advertising and showing properties. In reality, the licensee must act according to the terms of the listing agreement and the wishes of the principal, which supersedes any personal discretion.
The relationship between a licensee and their principal is founded on the principle of agency, requiring the licensee to comply with the lawful requests of their clients. In this case, the couple's desire to avoid open house showings is valid and must be honored. The licensee’s obligation to follow these instructions underscores the importance of respecting client preferences in real estate transactions.
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