What type of relationship exists between the seller and the buyer in agency practice?

In agency practice, the relationship between the seller and the buyer is characterized as having no direct relationship. This is because the seller and buyer typically interact through an intermediary, usually a real estate agent or broker, who represents one party and facilitates the transaction. The agent acts on behalf of their client (the seller or the buyer) and manages the deal, ensuring that each party's interests are represented while maintaining a professional distance from the other party involved in the transaction.

In this context, while the seller may have a relationship with the agent, and the buyer may have a relationship with their own agent, there exists no direct legal or fiduciary relationship between the seller and the buyer themselves unless specified otherwise, such as in joint representation situations. This delineates the boundaries of what the agents can and cannot do in terms of representing their clients' best interests, steering clear of any conflicts that might arise from favoritism or dual representation unless explicitly agreed upon.