As used in this chapter, unless the context otherwise requires:(1) “Real estate broker” or “broker” means (A) any person, partnership, association, limited liability company or corporation which acts for another person or entity and for a fee, commission or other valuable consideration, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental of, an estate or interest in real estate, or a resale of a mobile manufactured home, as defined in subdivision (1) of section 21-64, or collects or offers or attempts to collect rent for the use of real estate, and (B) any person, partnership, association, limited liability company or corporation employed by or on behalf of the owner or owners of lots or other parcels of real estate, at a stated salary, upon commission, upon a salary and commission basis or otherwise to sell such real estate, or any parts thereof, in lots or other parcels, and who sells or exchanges, or offers, attempts or agrees to negotiate the sale or exchange of, any such lot or parcel of real estate;

The language you use is center around "assignment fees" and "non-refundable option consideration."

Or 3) flex option, so seller can still sell to someone else and I don’t have to risk much option consideration but still be able to market the property.

For that matter, there was considerable discussion at the recent Annual George Allen Roundtable in Nashville, Tennessee about community owners being caught, fined, and prosecuted by attorneys and community owners alike.

The house is a HUD in University Heights, and was listed a couple days ago.

Is that not a consideration?

I have not actually closed on it though so take that into consideration; it's only words right now not experience from my side.

@Kyle Jefferson There is a meeting ran by @Aaron Westerburg I believe they meet in Middleburgh Heights monthly.

Thanks for filling me in  - I think I would have really liked that session - I've never really given much thought to furnished rentals but I may give it some consideration the next time I'm turning over a unit.   

Also let them know that you are shopping your property to other management companies just so they know that they're not your only consideration. 10% of the rental fee is the typical fee amount each month for property management.