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    Real Estate
    Sunday, May 19, 2024

    Sound Advice 04-05-24

    A Welcome Home reader asked about Realtors’ “fiduciary duty” to their clients, and practically, what that means. Realtor Elizabeth Johnstone explains:

    “Fiduciary duty is a legal obligation. In short, real estate agents must act in the best interest of their clients. There are six fiduciary duties real estate agents owe their clients: Loyalty, in that their clients’ interests always come first; confidentiality; and disclosure—meaning all material facts, including any relationship to a party to the transaction must be disclosed to the client. There’s also obedience—in other words, a client’s lawful instructions must be followed. A Realtor must demonstrate reasonable care and diligence, and keep accurate accounting records for all funds and property involved in the transaction.”

    Have a question for a local Realtor? Ask it here: welcomehome@theday.com

    Elizabeth Johnstone

    Berkshire Hathaway HomeServices

    New England Properties (Mystic)

    Mobile: (860) 287-1641

    elizabethjohnstone@bhhsne.com

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