← Glossary
Agents and brokerages
Fiduciary duty
The legal duty an agent owes their client: loyalty, obedience, disclosure, confidentiality, accounting and reasonable care.
Also called: fiduciary, OLDCAR
Related terms
Agency disclosure
A form that tells a buyer or seller who the agent works for. Most states require it at or before the first real conversation about a property.
Dual agency
One agent or brokerage representing both buyer and seller in the same deal. It needs written consent from both, and some states ban it.
Buyer's agent
The agent who represents the buyer. They find homes, set up showings, write offers and negotiate. Since 2024 most need a signed buyer agreement before touring homes.
Listing agent
The agent who represents the seller. They price the home, market it, handle showings and negotiate offers.