PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Fiduciary duty is the heightened obligation of loyalty, obedience within lawful authority, disclosure, confidentiality, accounting, and reasonable care that an agent owes the principal, as shaped by statute and agreement.
Agency
Agency foundations
Define, distinguish, apply, retrieve
Official exam outline plus authoritative Georgia or federal references where the topic has a controlling rule. Independent educational resource, not affiliated with GREC or PSI.
Continue from definition to exam-ready recall.
1,300+ Georgia and national questions, detailed explanations, spaced review, readiness tracking, Math Coach, and offline study. $59.99 once with no subscription.
passgeorgiarealestate.com/download
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Fiduciary duty mean?
Fiduciary duty is the heightened obligation of loyalty, obedience within lawful authority, disclosure, confidentiality, accounting, and reasonable care that an agent owes the principal, as shaped by statute and agreement.
How do you separate the nearest exam answer?
Fiduciary duties are owed to a client or principal. A customer is still owed honesty and specified disclosures but not the same advocacy and loyalty.
What changes or stays the same in Georgia?
Under BRRETA, a Georgia broker is not deemed a fiduciary of any party. The statute replaces common-law fiduciary duties with the duties it lists for each type of engagement, and it protects specified confidential information even after the engagement ends.
A buyer's agent keeps the buyer's maximum price confidential while diligently presenting the buyer's authorized offer.
Obedience never requires following an illegal instruction, and disclosure to a client does not authorize revealing another client's confidence.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
A buyer tells the buyer's agent that the buyer would pay up to $425,000 but wants to offer $400,000. The listing agent calls and asks what the buyer's top price is. What should the buyer's agent do?
- A
Share it, since honesty is owed to all parties
- B
Share it only if the seller is also a client of the firm
- C
Give a range close to the top price
- D
Keep it confidential and present the $400,000 offer
An agent owes the client confidentiality about information like a top price while diligently presenting the client's authorized offer. Honesty toward the other side means not lying, not giving away the client's bargaining position. In Georgia, BRRETA frames these as statutory duties owed to the client rather than common-law fiduciary duties.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Agency complete lesson
https://www.passgeorgiarealestate.com/study-guide/agency/creation-and-types
Official exam administration and content-outline source.
https://test-takers.psiexams.com/api/content/bulletin/4672GREC's official law portal links to Title 10, Chapter 6A, the Georgia agency statute.
https://grec.state.ga.us/information-research/license-law/