In your own words, describe the fiduciary relationship an agent has with a purchaser in a real estate sales transaction
In a real estate sales transaction, the fiduciary relationship between an agent and a purchaser is built on trust and loyalty. The agent is obligated to act in the best interests of the purchaser, prioritizing their needs and goals throughout the buying process. This means the agent must provide honest and accurate information, disclose any relevant details about properties, and avoid conflicts of interest.
The agent is expected to maintain confidentiality regarding the purchaser's personal and financial information and to advocate for their interests during negotiations. Essentially, the agent serves as a trusted advisor, guiding the purchaser through the complexities of the real estate market while ensuring that their rights and interests are protected. This relationship is foundational to fostering a successful and ethical transaction.