Final answer:
When a broker assists both parties in a transaction, it is known as dual agency. The broker represents both the buyer and the seller, acting as a neutral party to facilitate the transaction.
Step-by-step explanation:
When a broker assists both parties in a transaction, it is known as dual agency. In this case, the broker represents both the buyer and the seller, acting as a neutral party to facilitate the transaction. The broker must disclose their dual agency role to both parties and ensure that they act in the best interests of both.
For example, if a broker is assisting in the sale of a house, they would help the seller find potential buyers and negotiate offers, while also helping the buyer with the purchasing process and providing them with necessary information about the property.