Fiduciary Duty in Real Estate
Fiduciary duty in real estate is the legal obligation an agent owes to their client, requiring the agent to act solely in the client's best interest. In Florida, the scope of these duties depends on the agency relationship established between the agent and client.
Single Agent Fiduciary Duties
- Loyalty: Place the client's interests above all others, including the agent's own
- Obedience: Follow the client's lawful instructions
- Disclosure: Reveal all material information affecting the transaction
- Confidentiality: Protect the client's private information
- Accountability: Properly handle all funds and documents
- Reasonable care: Provide competent, diligent service
Florida Agency Types
- Single agent: Full fiduciary duties to one party
- Transaction broker: Limited duties (default in Florida); no full fiduciary obligation
- Designated agent: Fiduciary duties to assigned party in dual agency situations
Breach Consequences
Agents who breach fiduciary duties face FREC discipline, civil liability, commission forfeiture, and potential criminal charges.
Related Terms
- Contract — Agency agreements establishing duties
- Closing — Where agent duties culminate
- Escrow — Agent accountability for funds
Barnes Walker Real Estate
Barnes Walker's real estate attorneys advise agents and clients on fiduciary obligations and resolve agency disputes in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC