6-Becoming the Fiduciary

By simple explanation, "Fiduciary" applies to any situation in which a person places “Confidence” and “Trust” in someone else. Some examples are a doctor to a patient, a lawyer to a client, or a corporation to its shareholders. It is the relationship between two parties, where one entity has the right to act and make important decisions on behalf of the other party. In real estate, the agent and their client are in a fiduciary relationship. The two parties enter into a signed agreement in which the client puts their trust in the agent and the agent works in the client’s best interest.

After learning the definition of fiduciary, use this Influential Conversation: “I believe in being your fiduciary, meaning I will provide specific duties that are in your best interest.” Let your clients know that a fiduciary relationship is foundational to your business practice. In doing this, you will immediately get their attention and lower their apprehensions, which will create a better client relationship. 

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