Which of the following best describes a fiduciary duty in real estate?

A fiduciary duty in real estate refers to the obligation of the agent or broker to act in the best interest of their client throughout the transaction process. This duty encompasses trust, honesty, and a commitment to prioritize the client's needs and objectives above the interests of the agent or any third parties involved.

This relationship is characterized by various responsibilities, including loyalty, full disclosure, confidentiality, and accountability. The agent must put the client's interests first, ensuring that the client receives the best possible service and guidance, which ultimately leads to a successful transaction and client satisfaction.

In contrast, the other options do not encapsulate the essence of a fiduciary duty: a personal interest in the transaction suggests a conflict of interest rather than a commitment to the client's best interests; a transactional relationship lacks the depth of trust and loyalty inherent in a fiduciary duty; and limited communication with the client undermines the transparency and open dialogue that are crucial to fulfilling fiduciary responsibilities.