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Fiduciary duty obligates a professional to act in the client’s best interests. This can apply to financial advisors, attorneys, real estate agents and other professionals. Fiduciary duty is ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
A fiduciary's duty must not conflict with another fiduciary duty. [20] [38] [77] Conflicts between one fiduciary duty and another fiduciary duty arise most often when a lawyer or an agent, such as a real estate agent, represent more than one client, and the interests of those clients conflict. [23]
It is the Broker who is the Agent of the Buyer or Seller. The Sub-Agent is an agent of the Broker, works for the Broker, and represents the interest of the Broker. The formal position of a Sub-Agent in the hierarchy of real estate practitioners in the Philippines is equivalent to the rank of Salesperson.
Traditional financial advisors, such as brokers at a financial services firm, are only legally required to make suitable recommendations for clients, based on their investment objectives and risk ...
A fiduciary is a person who is legally obligated to act in the best interest of the person whose money or property they are managing. They are held to a high standard so that people can trust them.
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