Definition: A fiduciary is one who acts legally on behalf and in the best interests of another. There are certain common law duties attached to fiduciary. In real estate, if you become the "agent" of your client, you are acting legally in their best interests.
Certain fiduciary duties are incumbent upon you in this capacity. There are differences by state statute, with either five or six duties being the normal list. These include Obedience, Loyalty, Disclosure, Confidentiality, Accounting and Reasonable Care.
