Agency
What is the concept of 'working with buyers' without a buyer agency agreement in Ohio?
AThe agent automatically represents the buyer
BThe agent may assist the buyer as a customer but owes fiduciary duties to the seller✓ Correct
CThere is no obligation to help without an agreement
DThe buyer pays a reduced commission
Explanation
In Ohio, without a buyer agency agreement, a licensee working with a buyer typically represents the seller (or acts as a transaction broker). The buyer is a customer receiving honest dealing but not fiduciary representation.
Related Ohio Agency Questions
- If a buyer's agent learns that their buyer-client is planning to demolish a home after purchase to build a car dealership, the agent should:
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- Under Ohio agency law, an agent's 'express authority' is created by:
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