Final answer:
The term 'Complete' is not part of the agency disclosure process; rather, it refers to the completion of the real estate transaction as a whole, which occurs after disclosures and confirmation of the agent's role.
Step-by-step explanation:
The agency disclosure process is a crucial element in real estate transactions ensuring that the relationship between a real estate agent and their clients is transparent.
This process typically involves several key steps:
- Disclose - The agent must disclose which party they are representing in the transaction.
- Elect - Here the agent outlines possible agency relationships and the client selects the type of agency representation they desire.
- Confirm - The chosen agency relationship is confirmed, usually in writing.
- Complete - While this might seem relevant, 'Complete' is not a standard part of the agency disclosure process. Instead the transaction itself is completed at a later stage after all the necessary disclosures and confirmations are made.
Therefore, 'Complete' is not part of the agency disclosure process as its focus is on the disclosure and confirmation of the agent's role rather than the completion of the overall transaction.