Question

Daniel is a real estate salesperson in a transaction. Daniel serves as a fiduciary to which of the following parties...?

The principal only
The sponsoring broker only
Both the principal and Daniel's sponsoring broker
Neither the sponsoring broker or principal

Answer 1

A real estate salesperson serves as a fiduciary to both the principal and their sponsoring broker.

Step-by-step explanation:

A real estate salesperson, like Daniel, serves as a fiduciary to both the principal and their sponsoring broker. As a fiduciary, Daniel is legally obligated to act in the best interest of both parties and exercise the utmost good faith, loyalty, and honesty. This means that Daniel must prioritize the interests of the principal and the sponsoring broker above their own.