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What Is A Fiduciary? Definition: involving confidence or trust or held or holding in trust for another. Said differently within the context of real estate: a faithful servant … a trusted advisor
What is the legal standard for Real Estate agents? All real estate licensees, regardless of the working relationship with a consumer, by law, must present properties honestly and accurately and disclose known material defects in the real estate.
Even though your agent should be acting on your behalf, you still must protect yourself at all times regardless of your representation! The duties of a real estate licensee do not relieve consumers of the responsibility to protect their own interests. For example, If you need advice for legal or tax matters it is your responsibility to consult a professional in those areas.
To summarize the key point: When you are purchasing real you are entitled to representation and it’s highly recommended that you do so given that a real estate transaction includes many details and it’s best to have the advice of a competent and trusted advisor!
