What is a real estate agent fiduciary responsibility?

California law stipulates that every real estate broker or agent must adhere to what is called “fiduciary duty.” This means that the agent or broker owes the highest duty of good faith, fairness, reasonable care, loyalty, and honesty to his or her client. California Civil Jury Instructions state that “A fiduciary duty …

Can I complain about an estate agent?

Making a complaint to the Agent Tell the Agent why you are unhappy, setting out the act or omission you believe has occurred. Let the Agent know what you would like them to do to resolve your complaint. Follow up any conversations in writing, making a note of the date and time and who you spoke to.

Do estate agents do fake viewings?

Fake property viewings Some estate agents may arrange viewings for people who are not genuinely interested in buying the property. The people looking around the property could be the estate agent’s friends or even colleagues from another branch.

What is loyalty in real estate?

Loyalty. A duty of loyalty is one of the most fundamental fiduciary duties owed by an agent to his principal. This duty obligates a real estate broker to act at all times solely in the best interests of his principal to the exclusion of all other interests, including the broker’s own self-interest.

What is negligent misrepresentation in real estate?

What is Negligent Misrepresentation in Real Estate Law? In the real estate context, negligent misrepresentation can occur when a seller or real estate agent makes a false statement about a piece of property. A plaintiff relies on the false statement, to their detriment.

What do real estate agents lie about when selling a house?

Last but certainly not least, another common lie that real estate agents tell sellers is that they have potential buyers for their home. This is a tactic that is used by some real estate agents to help pursued an seller to hire them to sell their home.

Can a real estate agent represent both a seller and a buyer?

Whenever a real estate agent is representing both a seller and a buyer in a real estate transaction, all sorts of conflicts of loyalty and duty arise. After all, the buyer wants to get the property for as low a price as he can while the seller wants to sell for the highest sales price offered.

Is there any way to get a home seller to lie?

 There is no way!? The reality is that there are some real estate agents out there who say anything to home sellers in order to get a listing or make a sale, even if it means lying.

Why do real estate agents lie about commissions?

 It’s likely that if an agent is telling this lie it’s because they haven’t proven enough value in what they provide a home seller to prove their commission and need to make it seem like commissions are a fixed amount.