What is meant by "fiduciary duty" in real estate?

Fiduciary duty in real estate refers to the obligation of real estate professionals to act in the best interest of their clients in all transactions. This includes providing honest and accurate information, maintaining confidentiality, disclosing any potential conflicts of interest, and putting the client's needs above their own.

This concept is foundational to the relationship between a real estate agent and their client, as it creates a trust-based dynamic where the client relies on the agent's expertise, guidance, and integrity. Engaging in fiduciary duties ensures that clients receive fair and competent representation, which is crucial for fostering positive relationships and achieving successful outcomes in real estate transactions.

The other options presented, such as creating marketing plans, managing rental properties, or ensuring compliance with zoning laws, do not encapsulate the essence of fiduciary duty, as they are more about specific tasks or responsibilities rather than the overarching obligation to prioritize the client's best interests in all dealings.