What is Fiduciary?
March 27, 2005
n. pl. fi·du·ci·ar·y
One, such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.
I realized I use terms that are second nature to me. There you have it...a simple definition. How about PRINCIPAL, CUSTOMER and CLIENT? Sometimes these are used interchangeably. So here we go...
PRINCIPAL:
Same as a CLIENT and can be used interchangeably. It is simply the party whose interests are to be served by an agent with or without a contract according to law.
CLIENT:
Same as PRINCIPAL.
CUSTOMER:
If you are not a PRINCIPAL or CLIENT, you are a customer. For example, a buyer represented by the buyer's agent is the seller agent's customer And vice-a-versa.
That clears up this issue doesn't it?
Comment on What is Fiduciary?. Follow this article is off. More articles like this one filed in: Real Estate
Subscribe to: 
Valid CSS and
