Limited agency (no fiduciary), or Limited Services (for example, Flat Fee MLS)?

      Limited agency might be acceptable if a Broker is overseeing a transaction between family members, or business partners, or close friends.   

    Limited services can be good for Investors, dealers, flippers.  For example, I have an acquaintance who buys/sells 10 or 12 properties per year.  He knows more than most Realtors in this town.   He can show his own houses, etc. so limited services like Flat Fee MLS or a negotiated fee is to his advantage.

Follow the rules in your state and the policies of your broker.

I have never participated in limited agency or dual agency.... we pick a side and stay there...

It depends.  Really.  On the situation/ circumstances.  On the client. On the timing. It really depends. 

I've never done limited agency.  Always full agency regardless of if I'm reping one or both sides.

I have no idea... I've never been a limited agent in my life and have no intention of starting now.

It's case by case. It could work for some, but not for others.

Thank you Fred Griffin 

I have not had that experience in 20 years

No limits for me baby ..........

Never been one.

I'm all in or out.

Bryan,

We are in the depends contingents.

Not allowed in Texas so I have no idea.

Limited agency is just as it sounds (Limited) as Fred Griffin mentions Bryan Gardner 

There is no limit to my commitment to my clients.

I don't do limited agent.

Bryan Gardner - very well said Fred Griffin. 

Bryan Gardner Listen to me Grasshopper. You don't need to worry about the pros and cons of being a limited agent. 

You DO need to worry about gaining market knowledge, learning how to pace and lead a customer to making a buyer or selling decision, how to get buyers butts in your car looking at homes to buy AND get YOUR butt in sellers homes siging up listings. You master these things and you will be rich.

Everything else is common sense. 

Less exposure, liability.  Fewer clients willing to accept this and will not understand and still expect full service and exposure. 

I had one person I did this for- All I did was generate the paperwork required, based upon his negotiation, his finding a buyer and negotiating price, his agreement upon repairs, etc. 

I found it hard to just stand back and still had to answer quite a few questions, etc.   I dont really do this anymore.  I either represent, or I dont.

For buyers who are willing to find the buyer on their own and come to me with price alreayd agreed upon, it defeinitely is good for some...

Bryan Gardner I haven't involve in a limited agent transaction yet.

For sure, a lot to learn about this subject and great answers.

So many great answers. I hope one of them was right for you. 

When you join a broker, be sure to read their office policy.

Can I get a training answer? 

Roy Kelley nailed this one!

There is no pros as it states it all. You are limited. I like to be full service meaning all in helping my client through each step of the buying or selling process

Other sources have answered 

I suppose limited liability and limited respect from your peers?

I don't know - I'm full-time and full-service - nothing limited here!

Limited agency in not in the best interest of the client because they don't have all the services and representations of the agent. 

Sometimes it take limited agency to get the job done, but as an agent I prefer to let someone else sell my properties.

It keeps your income down since you do so little to earn it.