In the context of real estate agents, what does "fiduciary duty" mean?

Fiduciary duty in the context of real estate agents refers to the obligation to act in the best interests of clients above their own personal interests. This principle is fundamental to the agent-client relationship and establishes a trust-based environment where clients can rely on their agents for guidance and advocacy.

Agents must prioritize their clients’ needs, including disclosing any information that could influence a client’s decision-making process, ensuring confidentiality regarding their clients’ circumstances, and avoiding any conflicts of interest that could compromise their duty. The fiduciary duty creates a legal and ethical standard that promotes transparency and loyalty between agents and their clients, fostering a professional relationship built on trust.