What is typically included in a fiduciary duty by real estate agents?

A fiduciary duty encompasses various responsibilities that a real estate agent has towards their client, with the primary obligation being to act in the client's best interest. This fundamental principle is rooted in the trust and confidence the client places in the agent, which requires the agent to prioritize the client's needs and objectives above their own. By adhering to this duty, the agent is expected to provide loyalty, full disclosure, and a high level of care, ensuring that all actions taken are aligned with achieving the client’s goals in a real estate transaction.

While negotiating lower prices may be a skill that an agent possesses, it is not an inherent component of fiduciary duty. Similarly, the promise to disclose personal financial information does not fall under the duty to act in the best interest of the client, as this is more about maintaining the client's confidentiality. The right to represent multiple clients in the same transaction, often referred to as dual agency, must be conducted with utmost transparency and informed consent to avoid conflicts of interest. However, again, this practice hinges on the overarching responsibility of the agent to act in the best interest of each client. Thus, the essence of fiduciary duty remains centered on placing the client’s interests first and foremost.