A real estate broker or salesperson, while acting as an agent for another, is a fiduciary. Special obligations are imposed when such fiduciary relationships are created. They demand:

1. (1) that the primary duty of the real estate agent is to represent the interests of the agent's client, and the agent's position, in this respect, should be clear to all parties concerned in a real estate transaction; that, however, the agent, in performing duties to the client, shall treat other parties to a transaction fairly;
2. (2) that the real estate agent be faithful and observant to trust placed in the agent, and be scrupulous and meticulous in performing the agent's functions; and
3. (3) that the real estate agent place no personal interest above that of the agent's client.

Source Note:The provisions of this §531.1 adopted to be effective January 1, 1976; amended to be effective February 23, 1998, 23 TexReg 1568; amended to be effective May 21, 2014, 39 TexReg 3855.