The question just asked yesterday ... review responses.  I wish you all the best with your real estate studies. 

Now, about water rights? 

They are equally important

Dorian,

See the prior answers in the question before yours.  Wishing you great success with your career.  A

review these answers (or see the prior posted Question)

All of them are important if you wish to stay out of trouble, maintain a real estate license and avoid jail time.

Undivided Loyalty- without it you really have no Representation !!!

Dorian, here are a few links to review the responses for the same question asked numerous times.  Best of luck to you.

1. https://activerain.com/questions/show/64736/in-your-opinion--what-is-the-most-important-fiduciary-duty--why-

2. https://www.activerain.com/questions/show/72875/in-your-opinion--what-is-the-most-important-fiduciary-duty--why-

3. https://activerain.com/questions/show/39955/in-your-opinion--what-is-the-most-important-fiduciary-duty--why---

4. https://activerain.com/questions/show/59920/in-your-opinion--what-is-the-most-important-fiduciary-duty--why-

As has been said many times, and by many people, they are all important!

Of course, there is no "most important" fiduciary duty. To say that some duties could possibly be less important than any other detracts from the concept of Fiduciary Duty.

Real estate agents are fiduciaries. As such they have the duty to clients to provide the highest possible standard of care, place the client’s interests ahead of their own and to, in all ways, act in the client’s best interests.

Ask yourself what is your favorite food and why? All food serves a purpose. Now, as to fiduciary, it is linked to the second greatest commandment which is to treat others as you would be treated. Humans are complex which allows us to serve and address each other in a myriad of ways. It is wise to do so