What does a broker need to consider when listing a property with specific rights such as irrigation?

When listing a property that includes specific rights like irrigation, a broker needs to stay within their level of competence. This means that the broker should have a solid understanding of the implications of these rights and be knowledgeable about the agricultural aspects related to such properties.

A broker's competence includes understanding how these rights can affect the property's value, usage, and the needs of potential buyers. Being informed about local water laws, irrigation systems, and any associated responsibilities or restrictions is essential for providing the right guidance to both sellers and buyers.

While having prior experience with agricultural properties and legal expertise could enhance the broker's ability to represent such listings effectively, it is not a strict requirement for competence. Relying solely on the seller’s knowledge could lead to misinformation and potential risks, as the seller may not fully understand all aspects related to irrigation rights or related laws. Thus, focusing on maintaining competence ensures that the broker provides accurate information and upholds their professional responsibilities.