Agency
Which fiduciary duty requires an agent to keep the principal's information private from third parties?
ALoyalty
BObedience
CConfidentiality✓ Correct
DAccounting
Explanation
Confidentiality requires the agent to safeguard the principal's private information and not disclose it to third parties without authorization.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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