Who is considered an unrepresented entity in a real estate transaction?

In a real estate transaction, an unrepresented entity refers to a buyer or seller who does not have professional representation by a licensed real estate agent. This situation typically means that the individual is navigating the complexities of the transaction without the guidance, knowledge, and support that a licensed professional can provide.

Unrepresented entities may face challenges due to a lack of experience in negotiation, understanding of market conditions, legal requirements, and potential pitfalls in the transaction process. The absence of a professional advocate could result in uninformed decisions or missing critical steps necessary for a successful transaction.

In contrast, a person using a licensed real estate agent has professional representation and, therefore, is not considered unrepresented. Similarly, a mandatary representing the interests of a buyer is acting on behalf of the buyer, ensuring that the buyer's interests are appropriately managed within the transaction. Lastly, an entity with legal representation has additional legal support, which further differentiates them from being an unrepresented entity. Thus, the key characteristic of an unrepresented entity highlights the importance of having professional guidance in real estate dealings.