Summarizing is making a condensed statement about the substance of what the other person has said over the period of a conversation.
Summarizing rounds out the conversation and assures the other person that you’ve understood what he or she was talking about.
For example:
“To sum up what we’ve been discussing, you’d like to take on more responsibility by taking on a bigger scale project. We agreed that I’ll keep my eyes open for an appropriate job, and when I find one we’ll get together to discuss the possibility of your taking it on. Did that describe what we agreed to?”
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