Final answer:
The situation you are describing is called dual agency, where an agent represents the seller but also works in the best interest of the buyer.
Step-by-step explanation:
The situation where an agent represents the seller but also works in the best interest of the buyer is called dual agency. In this scenario, the agent has a fiduciary duty to both the seller and the buyer and must act in a fair and unbiased manner.
Dual agency can occur in real estate transactions when an agent from the same brokerage represents both the buyer and the seller. Despite representing both parties, the agent has to ensure that they prioritize the best interests of both the seller and the buyer.
For example, in a dual agency situation, an agent may help the buyer find suitable properties, negotiate the price, and facilitate the transaction, while also assisting the seller with marketing the property and securing a sale.