What is the most commonly practiced agency form in which the agent represents only one side of a transaction?

The most commonly practiced agency form in which the agent represents only one side of a transaction is single agency. In a single agency relationship, the agent has a fiduciary duty exclusively to either the buyer or the seller, but not both. This means that the agent is obligated to act in the best interest of their client, maintain confidentiality, and provide undivided loyalty.

Single agency is prevalent in real estate transactions, where an agent is hired by a seller to market their property and negotiate a sale, or by a buyer to find a suitable property to purchase. This clear representation helps simplify the relationship and minimizes potential conflicts of interest that may arise, especially when both parties have opposing goals in the transaction.

In contrast, dual agency represents both the buyer and the seller simultaneously, which can lead to complications in fulfilling the fiduciary duties owed to each party. Special agency and general agency refer to different types of authority an agent may have, with special agency being limited to a specific task or transaction and general agency extending authority over a broader range of tasks but still not representing both parties in a single transaction.