What is a real estate agent's fiduciary duty?

A real estate agent's fiduciary duty encompasses the obligation to act in the best interests of their client during real estate transactions. This duty is foundational to the agent-client relationship and is characterized by elements such as loyalty, confidentiality, and a duty to disclose information that affects the client's decisions. The agent must put the client's needs ahead of their own personal interests and ensure that they are advocating for the client’s goals throughout the transaction.

This commitment to the client fosters trust and promotes ethical standards in the industry. In practice, it means that the agent should provide accurate information, negotiate effectively on behalf of the client, and keep the client informed at all stages of the process. All these responsibilities align with the overarching principle of prioritizing the client's best interests, which is the essence of a fiduciary relationship in real estate.