FBLA Real Estate Practice Exam 2026 – The Complete All-in-One Guide for Exam Success!

Fiduciary duties are essential responsibilities that an agent has towards their client, rooted in the principle of trust and loyalty. The key fiduciary duties include obedience, confidentiality, accounting, and loyalty, which ensure that the agent acts in the best interest of the client.

Obedience involves following the lawful instructions of the client. Confidentiality requires the agent to keep the client's information private and not disclose it to unauthorized parties. Accounting refers to the duty of the agent to provide accurate financial records and reports regarding the client's funds.

Negotiation, while a crucial skill for an effective agent, is not categorized as a fiduciary duty. It is more of a functional role that an agent plays in the transaction process, rather than a formal obligation directed by legal or ethical guidelines. Hence, it does not fall under the specific fiduciary duties traditionally defined in real estate or agency law. This distinction clarifies why negotiation is not considered one of the fiduciary duties of an agent.