So what does "fiduciary" mean?

Textbook Definition:

A relationship that implies a position of trust or confidence wherein one person is usually entrusted to hold or manage property or money for another. The term fiduciary describes the faithful relationship owed by an attorney to a client or by a Broker (or agent) to a principal. The fiduciary owes complete allegiance to the client. Among the obligations that a fiduciary owes to his or her principal are the duties of loyalty, obedience and full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies. When an agent breaches any of these fiduciary duties, the principal can usually bring civil action for money damages, sue to impress a constructive trust upon any secret profit or compel the agent to forfeit any compensation.

Layman's Definition:

Whenever a client is asking for counsel regarding comparative value of an intended purchase, or any question regarding what is best choice for the client. Response to these types of questions would require fiduciary representation.

For example: Representation without fiduciary would allow you to make a purchase of a home that might not resell well or appreciate, due to deficiencies or functional obsolescence. A real estate agent in Idaho representing you in standard practice without fiduciary is not required or legally able to inform you of these and other issues without a separate written agreement creating fiduciary representation.

Dale Alverson is a Certified Buyer Broker (CBB) -- the first and only in Idaho! -- PLUS an Accredited Buyer Representative (ABR) and a Certified Relocation Professional (CRP).

He is a native of the Boise Valley and a 23-year veteran of real estate, as well as the first agent to actively represent Buyers Only.

Dale Represents Buyers Only! If you would like FIDUCIARY BUYER REPRESENTATION in the Boise Valley area or a personal referral from Dale to other top Buyer Agents nationwide, feel free to call for immediate access 800-359-0855 or e-mail dale@teamboise.com