When a broker is a subagent of the seller, the broker is working with the buyer as what?

In the context of agency relationships in real estate, when a broker acts as a subagent of the seller, the broker's interaction with the buyer is one of a customer. This means that the buyer does not have a formal agency relationship with the broker. Instead, the buyer is viewed as a customer rather than a client.

The distinction here is important in terms of the duties and obligations that the broker owes. While a client (in this case, the seller) receives fiduciary duties from the broker, such as loyalty and full disclosure, a customer does not receive the same level of representation or protection. Instead, the broker may provide services to the customer but is not bound by fiduciary duties to them.

Therefore, in this scenario, the correct identification of the broker's relationship with the buyer is that of a customer. This relationship defines the nature of the services provided and the obligations that exist between the parties.