In the absence of a signed WB-36 Buyer Agency/Tenant Representation Agreement, the buyer is classified as the firm's:

In the absence of a signed WB-36 Buyer Agency/Tenant Representation Agreement, the buyer is classified as the firm's:

• A. Client
• B. Employee
• C. Customer
• D. Partner

Answer: (C)

In real estate, the classification of a buyer in the absence of a signed agency agreement has significant implications for the relationship between the buyer and the real estate firm. When a buyer is not formally represented through a Buyer Agency/Tenant Representation Agreement (like the WB-36), they are classified as a customer of the firm. This distinction is essential because it defines the level of service and obligations the real estate firm has towards the buyer. As a customer, the buyer is entitled to certain services and information but does not receive the same fiduciary duties, such as loyalty or full disclosure, that a client would receive. This customer status means the firm must provide fair and honest service but does not owe the same level of allegiance or confidentiality to the buyer as it would to a client with a signed agreement. Understanding this classification helps clarify the roles and expectations in real estate transactions, ensuring that buyers are aware of their standing and the nature of the services they are receiving. In summary, without a signed agreement, buyers do not have the representation or loyalty of the firm and are identified as customers.

In real estate, the classification of a buyer in the absence of a signed agency agreement has significant implications for the relationship between the buyer and the real estate firm. When a buyer is not formally represented through a Buyer Agency/Tenant Representation Agreement (like the WB-36), they are classified as a customer of the firm.

This distinction is essential because it defines the level of service and obligations the real estate firm has towards the buyer. As a customer, the buyer is entitled to certain services and information but does not receive the same fiduciary duties, such as loyalty or full disclosure, that a client would receive. This customer status means the firm must provide fair and honest service but does not owe the same level of allegiance or confidentiality to the buyer as it would to a client with a signed agreement.

Understanding this classification helps clarify the roles and expectations in real estate transactions, ensuring that buyers are aware of their standing and the nature of the services they are receiving. In summary, without a signed agreement, buyers do not have the representation or loyalty of the firm and are identified as customers.