Agency
In Ohio, an agent's duty of 'disclosure' does NOT require the agent to disclose which of the following?
AKnown property defects
BThe client's specific negotiating limits or confidential financial information without the client's consent✓ Correct
CKnown environmental hazards
DMaterial facts about the property's condition
Explanation
While agents must disclose material facts, they owe their principal the duty of confidentiality — they may NOT disclose the client's confidential information (such as their maximum price or motivation) without consent.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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