Video: What are the Fiduciary Duties of a Real Estate Agent?

Wednesday Nov 11th, 2020


What are the Fiduciary Duties of a Real Estate Agent?

During a real estate transaction, a client places special trust, confidence, and reliance on their real estate agent, forming a Fiduciary relationship. 

Therefore, Real Estate Agents have some Fiduciary duties toward their clients.

  • Confidentiality: Ensure protection of any information obtained from the client’s affairs or motivation.
  • Accounting: Report promptly all monies and properties received and paid out.
  • Obedience: Act, follow, and abide by all lawful instructions given by the client at all times.
  • Full Disclosure: Disclose affirmatively all the information concerning the transaction, which might affect the client’s decisions.
  • Undivided Loyalty: Never advance any interests adverse to the principal interest and always keep the client’s best interest in mind.
  • Reasonable care: Offer the best possible services on their client’s behalf.

Fulfilling these duties without fail can result in the benefit of all parties involved in a real estate transaction.

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