Your agent has certain “fiduciary obligations” that they must abide by as a state licensed real estate agent. This fiduciary relationship protects the consumer by placing the interest of the principal, or person to whom the agent owes the duty, ahead of all others including that of the agent themselves.

Similar to the relationship between attorney and client, they are obligated to exercise the utmost good faith, loyalty and honesty in any matter connected to their duties.

This relationship calls for the prompt disclosure of all material facts to the principle, including any and all reasonable offers for example.

Whenever you are looking to buy a home and the agent is a double or dual agent, meaning they are the listing agent and they are your buying agent as well, you should be a little extra cautious. The listing agent is almost always going to have the seller's best interest versus yours. This is not to say that the agent can not do a great job for both of you, but you should just simply use a little extra caution.

 

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