Sarah is a Wisconsin licensed salesperson working for Lakeview Realty. She has been showing homes to Marcus, who has not signed a buyer agency agreement. Marcus asks Sarah directly, 'Who do you represent in this transaction?' According to Wisconsin Administrative Code REEB 24, what must Sarah do?
Correct Answer
B) Provide Marcus with the Disclosure to Customers form before providing brokerage services
Under Wisconsin Administrative Code REEB 24, a licensee must provide the Disclosure to Customers form to any party who is a customer (not a represented client) before providing brokerage services. Since Marcus has not signed a buyer agency agreement, he is a customer, and Sarah must provide this written disclosure — not merely a verbal explanation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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