Agency
What is the concept of 'gratuitous agency' in real estate?
AAn agency where the agent performs extra services
BAn agency where no compensation is promised, but fiduciary duties may still apply✓ Correct
CAn agency created by statute rather than agreement
DAn agency where the principal shows gratitude
Explanation
A gratuitous agency is one where the agent acts without promised compensation. While not owed compensation, the agent who undertakes the role may still owe duties of care and loyalty once they begin acting as an agent.
Related Ohio Agency Questions
- What is a single agent in Florida's agency terminology, and how does Ohio compare?
- What is the duty of accounting in real estate agency?
- What is a safety (protection) clause in a listing agreement?
- In Ohio, a listing agent may ethically advertise a property as 'must sell' or 'seller motivated' when:
- What is the difference between a fiduciary and a non-fiduciary relationship in real estate?
- What is a power of attorney in Ohio real estate and when is it used?
- What is an exclusive right to sell listing vs. exclusive agency listing?
- What are the fiduciary duties owed by an Ohio agent to their client?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →