Who is liable to uphold fiduciary duties in dual agency transactions?

In a dual agency transaction, the broker acts as a neutral intermediary representing both the buyer and the seller. This unique situation requires the broker to uphold fiduciary duties to both parties, as they are tasked with navigating the interests of both clients while maintaining fairness and transparency. The responsibilities include loyalty, confidentiality, full disclosure, and accounting for all funds, which are fundamental to the fiduciary relationship.

The listing agent alone does not have the full scope of responsibilities when dual agency is established. While both agents involved may have specific duties to their respective clients in traditional single agency scenarios, in dual agency, it is the broker who has the overarching fiduciary duty to both parties.

The designation of "none of the parties involved" is inaccurate, as it suggests that there are no fiduciary responsibilities being upheld, which contradicts the principles of dual agency. The correct understanding lies in recognizing that the broker, as the dual agent, is responsible for meeting the fiduciary obligations appropriately within the confines of this dual relationship.