Which of the following is NOT defined as a client by the WB-36 Buyer Agency/Tenant Representation Agreement?

Which of the following is NOT defined as a client by the WB-36 Buyer Agency/Tenant Representation Agreement?

• A. Interested in obtaining general market information
• B. Someone signing a listing agreement
• C. An individual willing to pay a broker commission
• D. A buyer actively looking for properties

Answer: (A)

The correct answer is A, as "interested in obtaining general market information" does not fit the definition of a client under the WB-36 Buyer Agency/Tenant Representation Agreement. In real estate, a client typically refers to someone who has entered into a formal agreement with a broker, which implies a commitment to a specific transaction or services. This agreement establishes a fiduciary relationship where the broker has a responsibility to represent the client’s interests. Those who sign a listing agreement, agree to pay a broker commission, or are actively looking for properties are all examples of parties who have a vested interest in a real estate transaction and who align with the definition of a client. They have taken steps to engage the broker’s services and expect a level of representation and loyalty from the broker, which is not the case for someone merely looking for general market information without a specific commitment.

The correct answer is A, as "interested in obtaining general market information" does not fit the definition of a client under the WB-36 Buyer Agency/Tenant Representation Agreement. In real estate, a client typically refers to someone who has entered into a formal agreement with a broker, which implies a commitment to a specific transaction or services.

This agreement establishes a fiduciary relationship where the broker has a responsibility to represent the client’s interests. Those who sign a listing agreement, agree to pay a broker commission, or are actively looking for properties are all examples of parties who have a vested interest in a real estate transaction and who align with the definition of a client. They have taken steps to engage the broker’s services and expect a level of representation and loyalty from the broker, which is not the case for someone merely looking for general market information without a specific commitment.