You need to know – What is a single agent relationship?

YouNeedToKnowWeb500A single agent relationship exists when a broker accepts employment from a principal under a written agreement

A fiduciary relationship is created where the broker owes the following duties to the principal:

  • Confidentiality
  • Obedience
  • Loyalty
  • Disclosure

Additionally, in working as a single agent for the principal the broker must:

  • Deal honestly and fairly
  • Disclose all known facts that affect the value of the property
  • Account for all funds
  • Use skill, care and diligence
  • Present all offers and counteroffers