A license holder, while acting as an agent for another, is a fiduciary. Special obligations are imposed when such fiduciary relationships are created. They demand:
(1) that the primary duty of the license holder is to represent the interests of the client, and the license holder's position, in this respect, should be clear to all parties concerned in a real estate transaction; that, however, the license holder, in performing duties to the client, shall treat other parties to a transaction fairly;(2) that the license holder be faithful and observant to trust placed in the license holder, and be scrupulous and meticulous in performing the license holder's functions; and(3) that the license holder place no personal interest above that of the client.22 Tex. Admin. Code § 531.2
The provisions of this §531.2 adopted to be effective January 1, 1976; amended to be effective February 23, 1998, 23 TexReg 1568; amended to be effective May 21, 2014, 39 TexReg 3855; Adopted by Texas Register, Volume 47, Number 20, May 20, 2022, TexReg 3049, eff. 5/25/2022