Real estate - fiduciary duties

Confidentiality

: One of the fiduciary duties. Because of this duty, the agent must keep confidential anything the client wishes to keep secret.

Limited or dual agency

when one agent represents both parties in a transaction.

Care

One of the fiduciary duties. Because of this duty, licensees are expected to fully use their skills and best efforts to benefit their client.

Accounting

One of the fiduciary duties; involves the proper handling of the funds of clients

Disclosure

One of the fiduciary duties; requires licensees to tell clients of pertinent and important facts and information.

Minimum service law

Laws that require certain duties to be completed by licensees in minimum service agreements.- developing, presenting and negotiating offers and (3) Answering the client's or customer's questions relating to the offers, counteroffers, notices, and contingencies.

Fiduciary

Someone that has been trusted to act for and in the best interest of another person.

Loyalty

fiduciary duties; putting the clients needs and interest above that of your own as an agent.

Obedience

fiduciary duties; requires agents to do as the client (legally) wishes.