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January 26, 2019

Customer


Word of the day

Customer

The unrepresented third party in an agency relationship. For example, the listing broker’s client is the seller. The broker can “work with” the unrepresented buyer as a customer. On the other hand, if the broker represents a buyer, the broker can “work with” an unrepresented seller as customer. Most state laws require that real estate licensees who work with customers exercise reasonable skill and care, disclose material and relevant facts about the property, disclose from whom the licensee will receive compensation, and follow any other duties required of the licensee in law or regulations

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