Which of the following best describes dual agency in Arizona?

The concept of dual agency in Arizona is best described as one agent representing both the buyer and the seller in a real estate transaction. This arrangement allows a single agent to facilitate the transaction for both parties, which can offer certain advantages, such as streamlined communication and potentially reduced commission costs. However, it also creates unique challenges, particularly concerning the agent's ability to maintain confidentiality and disclose important information without compromising either party's position.

In a dual agency situation, the agent must be careful to avoid conflicts of interest and must adhere to state laws regarding disclosure and consent. Both parties involved must agree to the dual agency arrangement, often through a written agreement, which ensures that they are aware of and accept the potential limitations on the agent's ability to advocate fully for their individual interests.

The other options you mentioned touch on different aspects of real estate but do not accurately capture the essence of dual agency in Arizona. For instance, representation of one party in a transaction pertains to single agency, while handling simultaneous transactions for different clients refers to the practice of having separate clients that does not involve dual agency. Similarly, representation of both parties without conflict suggests a level of unbiased representation that is not feasible in a dual agency scenario, as the agent must navigate the interests of both clients.