What is the term for a situation in which a single brokerage represents both the buyer and seller in the same real estate transaction, requiring transition to a transaction broker?

• A. No Brokerage Relationship
• B. Transaction Broker
• C. Dual Agency
• D. In-House Transaction

Answer: (D)

Dual agency is the situation where one brokerage represents both the buyer and the seller in the same transaction. This creates competing interests, since the same licensee must balance duties to both parties. To proceed properly, the broker must disclose the dual representation and obtain written consent from both sides, and the relationship then shifts to a transaction broker, providing limited representation to each party rather than full fiduciary duties. The other options don’t fit: No Brokerage Relationship means no representation at all; a transaction broker describes the limited representation but not the overlapping representation by one broker; In-House Transaction isn’t a standard term for this scenario.