A license holder, while acting as an agent for another, is
a fiduciary. Special obligations are imposed when such fiduciary relationships
are created. They demand:
(1) that the primary duty of the license holder is
to represent the interests of the client, and the license holder's
position, in this respect, should be clear to all parties concerned
in a real estate transaction; that, however, the license holder, in
performing duties to the client, shall treat other parties to a transaction
fairly;
(2) that the license holder be faithful and observant
to trust placed in the license holder, and be scrupulous and meticulous
in performing the license holder's functions; and
(3) that the license holder place no personal interest
above that of the client.
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