A real estate agent who is placed in a position of trust, loyalty, and confidence is a(n):________

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09-09-2022
Social Studies

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A real estate agent who is placed in a position of trust, loyalty, and confidence is a(n):________

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vipinkumar69547 vipinkumar69547 · Answer 1 · 2022-09-13T18:10:08+02:00

A real estate agent who is placed in a position of trust, loyalty, and confidence is a fiduciary.

A person who has an official or moral duty of trust toward one or more other parties is known as a fiduciary. A fiduciary typically manage another person's money or other assets responsibly.

Acting in a fiduciary capacity for another party, such as one who has entrusted money to the fiduciary for safety or investment, is one party, such as a corporate trust business or the trust division of a bank.

Additionally, according to the relevant rules and legislation, financial advisors, financial planners, and asset managers—including those who look after pension plans, endowments, and other assets exempt from taxes—are regarded as fiduciaries.

Financial fiduciaries are required to behave in the beneficiaries' best interests rather than their own, which is why laws governing the management of other people's money exist.

To learn more about fiduciary refer to:

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