What do "fiduciary duties" refer to in real estate?

Fiduciary duties in real estate specifically refer to the responsibilities that a broker or agent owes to their client. These duties are rooted in the principle of trust and confidence placed by the client in their broker. Key fiduciary duties include loyalty, disclosure, confidentiality, obedience, reasonable care, and accounting.

The broker must act in the best interest of the client at all times, providing honest and transparent communication, protecting sensitive information, and prioritizing the client's needs above their own. This relationship is foundational in real estate transactions, as it ensures that clients receive fair treatment and professional guidance throughout the buying or selling process.