Real estate - fiduciary duties Flashcards

Real estate - fiduciary duties Flashcards AccountingOne of the fiduciary duties; involves the proper handling of the funds of clients Obediencefiduciary duties; requires agents to do as the client (legally) wishes.Loyaltyfiduciary duties; putting the clients needs and interest above that of your own as an agent.DisclosureOne of the fiduciary duties; requires licensees to tell clients of pertinent and important facts and information.Minimum service lawLaws 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.FiduciarySomeone that has been trusted to act for and in the best interest of another person.Limited or dual agencywhen one agent represents both parties in a transaction.CareOne of the fiduciary duties. Because of this duty, licensees are expected to fully use their skills and best efforts to benefit their client.

Confidentiality: One of the fiduciary duties. Because of this duty, the

agent must keep confidential anything the client wishes to keep secret.