What is the term for a broker who represents both the buyer and the seller?

The term for a broker who represents both the buyer and the seller in a real estate transaction is "dual agent." This arrangement involves the broker acting on behalf of both parties, which can create unique challenges and considerations, particularly regarding confidentiality and fiduciary duties.

In a dual agency situation, the broker must navigate the interests of both the buyer and the seller, aiming to facilitate a successful transaction while ensuring that neither party's information is improperly disclosed or used to the disadvantage of the other. It's essential for both parties to consent to this dual representation, as it can impact the quality of representation each party receives given that the broker's duty to maintain loyalty can become complicated.

Other terms, such as single agent and designated agent, refer to different types of representation. A single agent exclusively represents either the buyer or the seller, while a designated agent is appointed by a brokerage to represent one party in a transaction, allowing for some separation of loyalties within the same firm. A transaction broker, on the other hand, assists both the buyer and seller without formally representing either party.