What is a broker’s fiduciary responsibility?

A broker's fiduciary responsibility is fundamentally about trust and loyalty to their clients. This duty requires the broker to act in the best interest of the client, placing the client's needs and interests above their own. This includes providing the best possible advice, making decisions that benefit the client, and maintaining confidentiality.

By prioritizing the client's needs above their own, brokers help to build and maintain a strong client relationship based on trust. This is essential in fostering a professional and ethical marketplace, where clients can rely on their brokers for sound guidance and representation.

In contrast, options suggesting prioritization of business interests, ensuring maximum commission earnings, or maintaining competitive markets do not align with the ethical obligations of a broker. Focusing on personal or business interests undermines the foundation of trust crucial in broker-client relationships and can lead to conflicts of interest that compromise the quality and integrity of service provided to clients.