Which agent has the authority to represent only one party in a real estate transaction?

A single agent represents only one party in a real estate transaction, either the buyer or the seller. This type of agency creates a fiduciary relationship that requires the agent to act exclusively in the best interests of their client. The single agent has undivided loyalty to their client, maintaining confidentiality and providing advice that is solely beneficial to that party.

This clear delineation ensures that the agent prioritizes their client's needs and objectives without any conflict of interest. In contrast, other types of agents, such as dual agents or general agents, may have obligations to multiple parties or broader responsibilities that can complicate their loyalty and duties.

In a dual agency scenario, an agent represents both parties, which means they must balance the interests of both the buyer and the seller, potentially leading to conflicts. A general agent has broader powers that may include representing a client in multiple transactions or areas and could have competing obligations. A special agent typically has authority limited to a single act, but not necessarily limited to representing just one side in a transaction.

Understanding how agency relationships work is crucial in real estate because it establishes the expectations and legal responsibilities between clients and agents.