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To put it simply, a customer is someone who is interested in buying or selling a property but does not have a formal agreement with a real estate agent. The agent can provide some assistance to the customer, but they do not have the same level of responsibility and loyalty that they would have with a client.
For example, let's say John is looking to buy a house and contacts a real estate agent, Sarah, for some help. John has not signed any agreements with Sarah yet, so he is considered a customer. Sarah can provide John with information about available properties and answer his questions, but she is not required to work solely in John's best interests like she would with a client.
"A Deep Dive for Real Estate Agents"
Note: An implied agency can arise when a real estate agent treats a customer as a client, meaning they provide advice, guidance, or information beyond what is typically provided to a customer. This can create a situation where the customer expects the agent to act in their best interest, similar to the relationship between an agent and a client. While the agent may not have intended to create an agency relationship with the customer, their actions can lead to the implication of such a relationship. In such cases, the agent may have certain legal and ethical obligations to the customer, such as providing accurate information and disclosing any conflicts of interest.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Oh, the customer, the customer, they're quite a curious one,
Not quite a client, not quite done.
They want to buy or sell a home,
But no agreement with an agent they've shown.
The agent can help and answer questions with glee,
But not the same as with a client, you see.
No loyalty or responsibility they must bear,
The customer-agent relationship is quite rare.