What is the term for a real estate broker or sales agent acting on behalf of another party?

The correct term for a real estate broker or sales agent acting on behalf of another party is "fiduciary." In this context, a fiduciary relationship is one where the broker or agent has the legal and ethical obligation to act in the best interests of their client. This means that the broker or agent must prioritize the client’s needs and interests above their own, ensure confidentiality, and provide full disclosure of material facts that could affect the client's decisions.

In real estate transactions, the fiduciary duty encompasses various responsibilities, such as loyalty, obedience, accountability, and disclosure. By establishing this relationship, the broker or agent becomes a trusted advisor, which is foundational in the practice of real estate to build trust and ensure positive outcomes for clients. This concept is vital for maintaining ethical standards in the industry, fortifying the trust clients place in their agents.