What must be done when representing both the buyer and the seller?

When representing both the buyer and the seller, it is essential to send a written notice of disclosure to both parties. This requirement ensures transparency and informs each party that the agent represents both sides in the transaction. It helps clarify potential conflicts of interest, allowing both the buyer and seller to make informed decisions while understanding the nature of the representation. This notice is a critical component of ethical practice in real estate, providing safeguards for all involved in the transaction.

The other options do not align with the regulatory requirements or best practices for dual agency situations. Limiting communication with both parties could hinder the essential flow of information necessary for a successful transaction. Keeping negotiations private contradicts the need for transparency in dual agency scenarios, as both parties must understand the terms being discussed. Prioritizing only the seller's interest fails to recognize the duty to act impartially and in the best interests of both clients, which is a fundamental expectation of dual agency representation.