What is the term for an agency relationship where both the buyer and the seller are represented by the same broker?

The correct term for an agency relationship where both the buyer and the seller are represented by the same broker is known as dual agency. In a dual agency situation, one broker represents both parties in a transaction, creating a unique dynamic where the broker must navigate the interests of both the buyer and the seller. This arrangement can present challenges, particularly regarding maintaining confidentiality and providing fair treatment to both clients.

In Georgia, as well as many other states, dual agency requires full disclosure and consent from both parties involved. The broker has a fiduciary duty to act in the best interests of both clients while balancing any potential conflicts of interest that may arise from representing both sides.

The other options refer to different types of agency relationships. Exclusive agency typically refers to a situation where one broker has the exclusive right to represent a seller, but the seller retains the right to find a buyer on their own and pay no commission to the broker. Open agency refers to a situation where a seller can list their property with multiple brokers and only pay the one that brings in a buyer. Triple agency is not a commonly recognized practice in real estate, as it implies representing three parties, which would complicate the fiduciary responsibilities.