What new provision does agency law permit regarding real estate transactions?

The correct answer signifies that agency law now allows real estate professionals to act as transaction facilitators. This development is significant because it recognizes the evolving nature of real estate transactions and the role of agents who may not represent a buyer or seller as a fiduciary. Instead, they can assist both parties in the transaction process, providing necessary services to facilitate the deal without advocating for either side's interests.

This shift is important as it opens up more options for clients and encourages greater collaboration in transactions. Transaction facilitators help streamline the process, provide clarity, and ensure all parties are informed, which can lead to smoother negotiations and successful outcomes.

The other options, while relevant to agency relationships and their workings, do not accurately capture this new provision. Transaction representation typically involves a fiduciary duty to one party, multiple contracts may complicate relationships and raise ethical considerations, and independent contractor relationships define the nature of employment but are not a new provision in agency law concerning transactions.