The difference between a Client and a Customer is significant to Real Estate Agents and Brokers. However, it is likely not understood by the general public.
Client - A client is in a binding contractual relationship with a Realtor or Broker. This is documented by a Buyer Representation Agreement when an agent represents a Buyer in purchasing a property listed by another agent. The Listing Agreement for Sellers documents the relationship when an agent lists a property for sale.
Customer - A customer is serviced by an agent, but without contractual agreement. Customers must be treated honestly and fairly by agents and given truthful responses to their questions.
What's the Key Difference? An agent may only give their advice and opinion to a Client. To receive the full benefit of the services of a Realtor, it is highly recommended you enter into an agreement to be a Client. When a listing agent works with the seller and a buyer for the same property, the seller is often a Client and the buyer is a Customer.
Sometimes both seller and buyer agents work for the same broker, resulting in full representation for both parties through an Intermediary Relationship Agreement.
All agents are required by Texas State Law to provide the document, Information About Broker's Services, at the first point of discussing real estate with any individual. This document clearly explains the various types of relationships you can have with an agent/broker. Agents and Brokers must make their representation clearly known upfront.
Please consult your agent or broker if you have any questions about your relationship.
I hope you will contact me for Real Estate Services in the Lake LBJ and Horseshoe Bay Area.
Sincerely,
Jeff Spears
[email protected]
www.TheLakeLBJGroup.com
325-248-4369