Commercial brokers frequently deal with clients who are knowledgeable about issues relating to their projects and more often than not have local and national counsel available to represent their interests. That is frequently not the case with the residential broker. As a Montana broker working a residential transaction in Nebraska, you may be concerned about your liability. Remember they are not required to take prelicensing courses, set for the state law portion of the other state's licensing examination, nor complete continuing education courses in the state in which the reciprocal license is held. Many arguments can be made that reciprocal licensing does not pose any significant danger to the licensee or the consumer.
Many residential transactions involve a lender and a title company.
Both provide a wide range of expertise that will likely help the reciprocal broker avoid pitfalls. An argument can also be made that no licensee would likely attempt a transaction in another jurisdiction unless they were reasonably acquainted with the laws and regulations of that state. Presumably few Montana brokers have needed to obtain licenses in Nebraska, Tennessee, or some of the other distant states offering reciprocal licenses. It would probably not be difficult to find any number of Montana licensees who would like to handle a few transactions in Arizona in the winter. Similarly it is not difficult to imagine that licensees from other jurisdictions might want to enjoy Montana's scenic wonders and handle a few transactions.