What should I do if I’m representing a seller and an unrepresented buyer who does not want to be represented approaches me about the property?
To meet the requirements of Section 1101.558 of The Real Estate License Act, you will need to disclose either orally or in writing who you represent at first contact with the buyer. Of course, it will be easier to prove you’ve provided this disclosure if it’s in writing. You’ll also need to provide the buyer with the Information About Brokerage Servicesform upon first substantive communication regarding a property.
If an unrepresented buyer presents an offer on a home where you represent the seller, the buyer is a customer—not a client—and intermediary rules do not apply to the situation. A broker acts as an intermediary when representing the buyer and the seller in the same transaction.