Wyoming License Law
A Wyoming real estate licensee who enters into a property management agreement must ensure the agreement:
AIs approved by the WREC before taking effect
BClearly defines the scope of authority, duties, and compensation to avoid disputes✓ Correct
CIncludes a minimum 2-year term
DIs witnessed by two licensed agents
Explanation
A well-drafted property management agreement clearly defines the manager's authority (what they can do without owner approval), specific duties, compensation structure, and termination provisions. This protects both the owner and the manager and reduces disputes.
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