Which statement best describes the role of a limited service agent?

A limited service agent is characterized by the specific nature of their services and obligations. Their role typically involves providing a narrower scope of services compared to a full-service agent, which is reflected in the correct answer. Limited service agents are not obligated to perform all the comprehensive duties mandated by statute, such as full representation, client consultations, or extensive marketing efforts. Instead, they may focus on specific tasks agreed upon with their clients, which often results in a more hands-off approach to areas such as negotiation or offering full representation throughout the real estate transaction process.

This distinction is crucial in understanding the limitations of their service and the expectations that clients can reasonably have. Therefore, the recognition that limited service agents are not bound to carry out all statutory duties aligns with their role in providing selective and targeted assistance in real estate transactions.