When a buyer begins to discuss his or her needs with a broker, it is called The listing phase. Exercising fiduciary duties of care and skill. The first substantive contact. Creation of the agency relationship.

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Business

Belen Myers

28 June, 14:47

When a buyer begins to discuss his or her needs with a broker, it is called The listing phase. Exercising fiduciary duties of care and skill. The first substantive contact. Creation of the agency relationship.

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Sarahi Pratt · Answer 1

It is known as the substantive contact

Explanation:

Substantive contact is the contract or the agreement in which the dialogue or the discussion among the consumer and the linked licensee moves from the casual introductory talk to a conversation which is meaningful in relation to the objectives of the buyer, confidential information and the financial qualifications.

So, when the buyer starts to discuss his or her needs with the broker, it is referred or called as the first substantive contact.