What term describes an agent that represents both the buyer and seller in the same transaction?

The term that describes an agent representing both the buyer and seller in the same transaction is dual agent. This arrangement occurs when a real estate agent facilitates a transaction where they are working on behalf of both parties. In this capacity, the agent must navigate the inherent conflicts of interest and ensure that they maintain a fair and impartial role in the negotiations.

A dual agent has special responsibilities and must disclose their dual role to both parties. They can provide information about the transaction, but their role conflicts with traditional agency duties because they cannot fully advocate for one party over the other. In essence, dual agency requires the agent to balance the interests of both the buyer and seller, which can be a complex and delicate situation.

Understanding this concept is crucial for real estate professionals as it demonstrates the need for transparent communication and compliance with state laws governing agency relationships.