Who does a broker's fiduciary duty primarily serve?

The fiduciary duty of a broker primarily serves the client. This duty is rooted in the concept of trust and responsibility, indicating that the broker must act in the best interests of the client throughout the real estate transaction. This encompasses various obligations, including loyalty, confidentiality, full disclosure, accounting for funds, and reasonable care and skill. The broker’s primary responsibility is to advocate for and protect the client’s interests, ensuring that their needs and goals are prioritized.

In the context of real estate, this means that the broker should provide guidance, offer market insights, and negotiate terms favorably for the client. While other parties, such as the state government or agency, may play significant roles in the real estate process, the broker’s foremost obligation is to the client, making their interests paramount in any dealings.