Final answer:
Clients must be informed about the services they will receive under a buyer agency agreement when dealing with a real estate brokerage. Economic principles like market knowledge and property rights play significant roles in real estate transactions, while political socialization pertains to broader decision-making.
Step-by-step explanation:
A client must be informed about the real estate brokerage agency's appointed agency policy and primarily A) The services they will receive under the buyer agency agreement. This includes detailing the obligations and duties that the agency will uphold when representing the buyer in a real estate transaction. While qualifications of agents (B), agency's market performance (C), and local schools and amenities (D) may also be of interest to the client, informing about the services provided under the agreement is fundamental.
Understanding the market and possessing property rights are critical principles of economics that affect buyers and sellers. Indeed, buyers and sellers act independently and compete with each other, and both parties must be well informed of the conditions in the markets. Moreover, participants in the market should ideally be able to enter into and leave the market freely. Ownership of property allows individuals or firms to engage in such contracts, highlighting the importance of property rights.
Furthermore, being well-informed also helps in the broader context of political socialization, which translates to understanding how to act within the economic and political systems, including decisions related to real estate.