PSI Virginia Real Estate Practice Exam

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Prepare for the PSI Virginia Real Estate Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam success!

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What obligation does a broker have under fiduciary responsibilities?

To act in their own best interest
To always prioritize the interests of their principal
To collaborate with other brokers for better sales
To ensure the lowest possible price for clients

The correct answer is: To always prioritize the interests of their principal

A broker's obligation under fiduciary responsibilities is to always prioritize the interests of their principal. This duty encompasses loyalty, full disclosure, and confidentiality, emphasizing that the broker must act in good faith and put the client's needs ahead of their own. By prioritizing the principal's interests, the broker builds trust and ensures that the client receives the best possible representation in a transaction. This principle is foundational in real estate practice, as it governs the broker's actions and decisions, which should always reflect the best outcomes for the client rather than for the broker's personal gain or convenience.