What is expected from a real estate broker in terms of fiduciary duty?

A real estate broker has a fiduciary duty to act in the best interests of their clients, which encompasses loyalty, confidentiality, full disclosure, and the duty to account for any funds. This duty is foundational in establishing trust and confidence between the broker and the client. The broker must prioritize the client's needs and goals above their own, ensuring that their advice and actions align with the client's best interests throughout the transaction process.

While complying with state regulations is certainly important for maintaining professional standards and operating legally, it is not the central aspect of the fiduciary relationship. Similarly, while a broker may aim to charge competitive fees or facilitate quick sales, these goals should not overshadow the primary responsibility of acting in the client's best interests. The fiduciary duty mandates that the broker's actions support and safeguard the client's interests, making this the core aspect of their professional responsibility.