Fiduciary, as defined by the California Dept. of Real Estate
A person in a position of trust and confidence, as between principal and broker; broker as fiduciary owes certain loyalty which cannot be breached under the duties of agency.
Agency, as defined by the California Dept. of Real Estate
The relationship between principal and the principal’s agent which arises out of a contract, either express or implied, written or oral, wherein the agent is employed by the principal to do certain acts dealing with a third party.
Fiduciary Duty, as defined by the California Dept of Real Estate
That duty owed by an agent to act in the highest good faith toward the principal and not to obtain any advantage over the latter by the slightest misrepresentation, concealment, duress, or pressure.
