In which scenario is a real estate licensee required to provide the Consumer Guide to Agency Relationships?

A real estate licensee is required to provide the Consumer Guide to Agency Relationships when engaging with potential clients or customers, particularly when they are looking to purchase residential properties. In Kentucky, the law mandates that this guide must be given to buyers when a licensee first engages them in a real estate transaction involving residential properties to ensure they understand the different forms of agency and their implications in the buying process.

The scenario of a three-bedroom, two-bath house in a subdivision clearly falls under residential real estate, where the guide is not only relevant but required by law for disclosure purposes. This helps buyers navigate their options regarding representation and ensures they are informed about their rights and duties.

In contrast, while the other options may include important real estate transactions, they do not represent the same requirement for the Consumer Guide. For instance, vacant lots, commercial properties, or multi-family buildings may not have the same obligations in terms of residential agency disclosures. Therefore, when dealing with residential properties, as in the scenario with the three-bedroom house, the licensee's obligation to provide the Consumer Guide is essential for maintaining transparency and protecting the buyer's interests.