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URE-AGENCY B

TermDefinition
Code of Ethics Standards for ethical conduct which have been systematized for a group of professionals.
Duty of Confidentiality The fiduciary obligation to not disclose information to unrepresented parties that would weaken the principal's negotiating position.
Duty of Disclosure Licensees must disclose their status as licensees acting under an agency agreement in the first contact with a prospective tenant or tenants' agent.
Duty of reasonable care and diligence The fiduciary duty to provide reasonable action and care to advance the priorities of the principal.
Fiduciary The word which describes the responsibility of an agent toward the principal, involving trust, loyalty, confidence, care and diligence.
Rule of loyalty The duty to act solely in the best interest of the principal, instead of all other interests, including the agent's personal interest or the customer's interest.
Rule of obedience An agent's responsibility to follow all instructions of the principal.
Created by: Megan07
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