Dual agency is a situation to describe when a real estate agent works with both the buyer and the seller. Most people familiar with the housing market know that a buyer's agent works for the buyer, a listing agent for the seller, but there's a third category that's much more mysterious: the dual agent.
A listing agent can also be a selling agent, which means the listing agent is either engaged in dual representation, which is a form of dual agency and legal in some states, including California, or the legal relationship between the parties could be transactional in nature only.
An independent agent is an insurance agent that sells insurance policies provided by several different insurance companies, rather than a single insurance company. An independent agent receives commissions for the policies that he or she sells, and is not considered an employee of a specific insurance company.
What Is a Real Estate Broker? A real estate broker is a step above a real estate agent. A broker generally has more education than an agent, but not always. A real estate broker can work independently or hire real estate salespersons. The exact rules can vary from state to state, but most have somewhat similar requirements.