What term is used for someone who has entered into a brokerage relationship with a licensee?

The term used for someone who has entered into a brokerage relationship with a licensee is “Client.” In the realm of real estate, a client is someone who has engaged the services of a real estate professional and has a formal relationship with that agent or broker. This relationship typically comes with certain fiduciary duties and obligations on the part of the licensee, which may include loyalty, confidentiality, and full disclosure.

The distinction between a client and other terms, such as customer, associate, and buyer, is significant. A customer generally refers to someone who is receiving services but has not formally entered into a brokerage agreement. An associate is typically a term used to describe a real estate agent who works under the supervision of a broker and does not refer to the relationship between a buyer or seller and a licensee. A buyer, while a critical part of the real estate transaction process, does not inherently indicate a formal brokerage relationship unless specified. Thus, the term "client" is the most accurate to describe someone who has established a brokerage relationship with a licensee.