Agency
The term 'fiduciary' in real estate agency means the agent:
AIs paid from an escrow fund
BOwes the highest degree of trust, loyalty, and confidence to the principal✓ Correct
CMust be bonded and insured
DHas a financial stake in the transaction's outcome
Explanation
A fiduciary relationship requires the agent to act in the principal's best interests with the utmost good faith, loyalty, trust, and confidence. The agent must subordinate their own interests to those of the principal.
Related Arkansas Agency Questions
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