In a fiduciary relationship, which scenario does not apply?

In a fiduciary relationship, one party acts on behalf of another, providing loyalty, care, and trust. This relationship is characterized by a legal or ethical obligation to act in the best interest of the other party. In the realm of real estate, the agents, brokers, and property managers directly engage in fiduciary relationships with their clients because they assume responsibilities that require trust and confidence.

The scenario involving an appraiser and their customer does not typically establish a fiduciary relationship. Instead, an appraiser has a contractual obligation to provide an unbiased estimate of property value in exchange for payment. The appraiser's role requires objectivity and independence, focusing on delivering accurate assessments rather than serving the interests of one party over another. This difference fundamentally distinguishes the appraiser's role from that of agents, brokers, or property managers, who are expected to prioritize their client’s interests and represent them actively in transactions. Therefore, the appraiser's professional conduct does not align with the characteristics of fiduciary relationships within real estate practice.