Which term describes a real estate agent's responsibility to act in the best interest of the client?

The term that describes a real estate agent's responsibility to act in the best interest of the client is known as fiduciary duty. This is a foundational concept in agency law, which establishes a legal and ethical obligation for the agent to prioritize the client's interests above all else. This means that the agent must provide full disclosure of relevant information, maintain confidentiality, provide loyal representation, and act with care and competence.

Fiduciary duty encompasses a range of responsibilities including honesty, fair dealing, and accountability, ensuring the agent advocates for the client's objectives effectively and diligently. It reflects the trust and confidence the client places in the agent, which is vital in real estate transactions.

The other terms, while related to real estate, do not pertain to this specific duty. Dual agency refers to a situation where one agent represents both the buyer and the seller, which can complicate the fiduciary duty since the agent must balance the interests of both parties. Implied warranty typically relates to conditions of property repair and habitability rather than the relationship between agent and client. Exclusivity usually pertains to exclusive listing agreements and does not define the agent's obligation to the client.