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    Brokerage & Agency

    Fiduciary Duties

    The full duties of trust a single agent owes a principal, often memorized with the mnemonic OLD CAR.

    Fiduciary duties are the highest duties of care and trust one party owes another. In Florida, a single agent owes these duties to the principal. The common mnemonic is OLD CAR: Obedience, Loyalty, Disclosure, Confidentiality, Accountability, and Reasonable care.

    These duties apply to single agents, not to transaction brokers, who owe only limited representation. Confidential information stays confidential even after the agency relationship ends.

    On the exam

    When a single-agent scenario describes the licensee putting their own interest first or revealing the principal's bottom line, the breached duty is usually loyalty or confidentiality.

    Exam trap

    Transaction brokers do not owe fiduciary duties. If the relationship is transaction brokerage, OLD CAR does not apply.

    Tested in

    Authorized Relationships (7% of the exam)

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    Sources

    This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.