A real estate agent in Queensland has a fiduciary duty to their client. This means the agent must:
Correct Answer
A) Act in the client's best interests with loyalty, honesty and good faith
A fiduciary duty requires the agent to act with loyalty, honesty, and good faith in the best interests of their client. This includes avoiding conflicts of interest, maintaining confidentiality, and providing competent service.
Why This Is the Correct Answer
A fiduciary must act in the client's best interests with loyalty, honesty and good faith, avoid conflicts, keep the client's information confidential and account for money and property received.
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- → As at October 2026, what is the maximum court penalty for a corporation convicted of dummy bidding at a NSW residential auction?
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- → In New South Wales, what must an agent give a client before the client signs an agency agreement for the sale of residential property?
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During an examination of a Queensland agent's trust account, the auditor finds a $5,000 shortfall that accounting errors do not explain. Under the Agents Financial Administration Act 2014, which statement is correct?
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A Victorian estate agent refers a buyer to a particular mortgage broker and receives a referral fee without disclosing this arrangement. Which ethical and legal obligation has the agent breached?