What is the agency relationship between a real estate broker and their client classified as?

The agency relationship between a real estate broker and their client is classified as a fiduciary relationship. This designation is significant because it implies that the broker must act in the best interests of their client, maintaining a high standard of trust and loyalty.

In a fiduciary relationship, the broker is entrusted with significant responsibilities, including full disclosure of information, confidentiality, and accountability. This means that the broker must prioritize the client's interests above their own and must always work to protect the client's rights and financial interests throughout the real estate transaction. This trust is fundamental in the agent-client dynamic, ensuring that the broker provides honest and expert guidance, which is essential in a transaction that typically involves substantial financial investment.

The other types of relationships listed are not appropriate for the context of a broker-client interaction. A casual relationship lacks the depth of trust and obligation necessary in real estate dealings. A transactional relationship may imply a more business-like interaction without the additional responsibilities of loyalty and protection, while a temporary relationship does not adequately capture the ongoing obligations and trust inherent in fiduciary duties.