What is a characteristic of single agency in real estate practice?

In real estate practice, single agency is characterized by the principle that a licensee represents only one party in a transaction, which can either be the buyer or the seller, but not both. This creates a duty of loyalty and a commitment to advocate solely for the interests of that one client. When an agent operates under single agency, they cannot represent opposing parties in the same transaction. This ensures that conflicts of interest are avoided, and the agent can fully support the client's needs without divided loyalty.

The other options revolve around misunderstandings of agency representation. The idea that only buyers are represented does not capture the full essence of single agency, as it could equally apply to sellers. The representation of both buyers and sellers is characteristic of dual agency, which is fundamentally different from single agency. Lastly, the option suggesting that agents can represent multiple clients without restrictions contradicts the core principle of single agency, which emphasizes the importance of focusing on one client's interests at a time.