A Fiduciary is a person who is given the power and obligation to act on behalf of another person. A fiduciary is held to a higher standard of representation than a regular business transaction and must avoid conflicts of interest and avoid situations where the benefit to the fiduciary is in conflict with what is best for the person being represented.

In a real estate transaction, a real estate agent may have fiduciary duties to their buyer or seller, depending on local agency laws.