What are the fiduciary duties a real estate agent owes to their client?
Real Estate Exam: Agency Law, Fiduciary Duties, Buyer vs Seller Representation
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A real estate agent owes six fiduciary duties to their client, commonly remembered by the acronym OLD CAR: obedience, loyalty, disclosure, confidentiality, accountability, and reasonable care. Obedience means following the client's lawful instructions. Loyalty means placing the client's interests above all others including the agent's own. Disclosure means revealing all material facts that could affect the client's decisions. Confidentiality means protecting the client's private information. Accountability means properly handling all funds and documents.
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