What does “dual agency” refer to in real estate?

"Dual agency" in real estate refers specifically to a situation where one agent represents both the buyer and the seller in a transaction. This arrangement can be beneficial in terms of simplifying communication and streamlining the transaction process, as only one agent is involved in coordinating between both parties. However, it also presents potential conflicts of interest since the agent has a fiduciary duty to both parties. It's important for agents to disclose dual agency to both the buyer and the seller, ensuring that they understand the implications of this arrangement.

The other options touch on different aspects of real estate practices. Marketing strategies, real estate disclosures, and property pricing methods are all critical elements of the real estate process, but they do not define or pertain specifically to the concept of dual agency, which is solely concerned with the representation within a transaction.