To perform property management activities, what must an agreement between a licensee and a client be?

To perform property management activities legally and effectively, an agreement between a licensee and a client must be in writing. This requirements ensures clarity and establishes a formal understanding of the terms and responsibilities, which is essential in the property management industry where various legal and financial transactions occur. A written agreement protects both parties by providing a documented reference for the rights, duties, and obligations involved in the property management relationship.

Having a written agreement also facilitates enforcement of the terms and can be critical in resolving disputes that may arise during the course of property management. While verbal agreements may be legally binding in some contexts, they can lead to misunderstandings and lack the clarity that a written contract provides. Notarization, while it may add an extra layer of authenticity to the agreement, is not a requirement for property management agreements. Similarly, requiring a signature from a third party is unnecessary and does not align with standard practices in property management agreements.