In real estate, Fiduciary Duty refers to the legal obligation of an agent to act in the highest good faith on behalf of their principal. This duty requires the agent to place the principal’s interests above their own and to avoid gaining any advantage through misrepresentation, concealment, duress, or undue pressure.
Fiduciary duty includes the core obligations of loyalty, accounting, disclosure, care, and confidentiality. These duties are rooted in common law and form the foundation of the relationship between real estate agents and their clients, ensuring trust, transparency, and ethical conduct in transactions.
