CONCLUSION
The subject of agency and fiduciary duty is complex and has proven to be difficult to understand and apply,
particularly by real estate brokers and mortgage brokers when performing as special agents of the principals
they serve. The discussion in this Chapter is intended to enhance the knowledge of the real estate and mortgage
brokerage industries regarding the duties and obligations owed by brokers and their salespersons and broker
associates when acting as principals only in real property transactions: as principals and special agents, or as
special agents of the principals to real property transactions (buying, selling, leasing, exchanging or property
managing), and to real property secured transactions (the making and arranging of loans).