Limited service (Also called a For Sale By Owner (FSBO) service) in real estate refers to a type of real estate brokerage service where the agent or broker provides only a limited range of services to their clients, typically for a lower fee than a full-service brokerage.
In limited service (FSBO), the real estate agent or broker may only offer specific services such as listing the property on multiple listing services (MLS), preparing contracts and other legal documents, or providing basic marketing materials. This means that the client will be the point of contact and is responsible for other tasks such as showing the property, negotiating with potential buyers, and handling closing details.
Limited service (FSBO) is usually an option for clients who are willing to take on more of the work and responsibilities involved in selling or buying a property in exchange for lower commission fees. It is important for clients to carefully consider their options and understand the scope of services that will be provided before choosing a limited service brokerage.