What obligation does the agent have under the principle of 'accountability'?

The obligation of an agent under the principle of 'accountability' primarily involves accounting for all entrusted monies and property. This principle is fundamental in real estate transactions, as it ensures that any funds or assets that the client places in the agent's care are managed with the utmost integrity and transparency. Agents must maintain accurate records and be prepared to provide detailed information regarding the handling of these assets, ensuring that they are utilized appropriately and responsibly.

Accountability fosters trust between the agent and the client, as clients need to have confidence that their financial interests are being safeguarded. By adhering to this principle, agents demonstrate their professionalism and commitment to ethical standards in their practice.