In real estate, a Fiduciary is a person who acts in a position of trust and confidence on behalf of another. This relationship commonly exists between a real estate broker or agent and their principal, such as a buyer or seller, and requires the fiduciary to place the principal’s interests above their own.
A fiduciary owes specific duties, including loyalty, accounting, disclosure, care, and confidentiality. These duties are fundamental to ethical real estate practice and cannot be breached without legal and professional consequences.
