Question

What should a customer receive to make him or her fully aware of what is going on in a transaction, such as the condition of the property and who the licensee is representing?

Answer 1

A customer becomes a client when a relationship is documented in an agreement and the customer will be updated regarding the ongoing transaction.

Explanation:

An agreement entered between the customer (buyer or seller) and a licensed real estate agent, which allows the real estate agent to represent on behalf of the customer or client in a real estate transaction. This documented agreement entered between them is called Representation and it has a legal validity.

It is the duty of the licensed real estate agent to brief the customer about the kind of transaction is going to take place and this will make the customer to have a clear idea about the regulation in buying and selling of the property as per the legal proceedings.