What type of agency arrangement is formed when both parties are represented by their own agent within the same brokerage?

In a scenario where both parties in a transaction are represented by their own agents within the same brokerage, the arrangement is referred to as designated agency. This type of agency allows a brokerage to assign different agents to represent each party (the buyer and the seller) while still functioning under the same overall brokerage. This is particularly useful as it helps to ensure that both parties receive dedicated representation and guidance in the transaction while maintaining compliance with fiduciary duties.

In designated agency, the agents involved are obligated to act in the best interests of their respective clients while still working within the confines of a single brokerage. This contrasts with other agency arrangements where a single agent may represent both parties, which could lead to conflicts of interest.

The other terms mentioned do not apply to agency relationships in the same manner. For instance, a deed in trust pertains to ownership and financial arrangements, deed restrictions relate to limitations placed on property use, and delivery and acceptance generally cover the process of formally executing documents in a transaction but not the agency aspect itself. Thus, designated agency accurately reflects the situation described in the question.