What is a real estate broker’s fiduciary duty?

In Florida, a real estate broker has a fiduciary duty to the client which means they must act in a manner that is lawful and in the best interest of the client. This means that the broker must be honest and fair and put the client’s interests before their own. They must also have the duty of loyalty to the client, meaning they are obligated to work in the best interests of the customer alone. The broker must also have a duty of confidentiality, meaning that they must keep all information received about their client confidential, even after their client relationship has ended. They also have a duty of disclosure which means they must tell the customer the truth and any hidden information about a property or potential transaction. The broker also has a duty of care which means they must exercise reasonable care in all aspects of the transaction. This includes providing accurate information, helping the buyer negotiate contracts, and giving good advice. They must also make sure that any contracts they enter into are fair and in the best interests of the buyer. Finally, the broker has a duty to act where the client’s best interests are paramount. This means they must recommend properties that are suitable for the buyer’s needs and their budget and help the buyer make an educated decision about which property to buy. They must advise and guide buyers on how to best complete the real estate process.

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What is a real estate broker’s fiduciary duty?

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