What kind of relationship does a real estate agent have with a client under agency law?

A real estate agent has a fiduciary relationship with a client under agency law. This means that the agent is legally and ethically obligated to act in the best interests of the client, also known as the principal. This relationship is characterized by trust, loyalty, and confidentiality. The agent must prioritize the client's needs above their own and provide full disclosure of relevant information.

In a fiduciary relationship, the agent must also avoid any conflicts of interest and cannot take advantage of the client for personal gain. This trust-based dynamic is crucial in real estate transactions, where clients rely on their agents' expertise and judgment.

The other options do not appropriately capture the nature of the relationship. A business partnership implies shared ownership and responsibilities, which is not the case in standard agency relationships. A casual acquaintance lacks the depth of commitment and obligation found in a fiduciary relationship. Lastly, a competitive rivalry suggests an adversarial relationship, which is contrary to the collaborative nature that should exist between a real estate agent and their client.