What duty is owed to an agent's client but NOT to a transaction broker's client or customer?

The duty of loyalty and obedience is a fundamental responsibility that an agent owes exclusively to their client. This duty ensures that the agent acts in the best interests of the client, prioritizing their needs and desires above all else. It encompasses the obligation to follow the lawful instructions of the client and to remain dedicated to the client's objectives throughout the transaction.

In contrast, a transaction broker operates differently. They provide limited services and do not owe the same fiduciary responsibilities, such as loyalty and obedience, to clients or customers. The transaction broker's role is more neutral, primarily facilitating the transaction without advocating for one party over another. As a result, they do not have the same level of commitment to prioritizing a client's interests, which includes not having the duty of loyalty.

Honesty and reasonable care, along with the performance of any oral or written agreements and prompt accounting for all monies, represent duties that can apply to both agents and transaction brokers. However, the duty of loyalty and obedience sets the agent apart in their role, highlighting their obligation to uphold a stronger fiduciary relationship with their client.