Agency
In Ohio, when a licensee represents the seller in a transaction, the licensee owes the buyer:
AFull fiduciary duties identical to those owed the seller
BHonesty, fairness, and disclosure of material facts✓ Correct
CNo duties whatsoever
DThe same duties owed a customer of the brokerage
Explanation
Even when representing the seller, an Ohio licensee owes all parties (including the buyer) honesty, fairness, and disclosure of known material facts about the property.
Related Ohio Agency Questions
- When does an implied agency most commonly arise in Ohio?
- Which of the following is a 'material fact' that an Ohio licensee must disclose to all parties?
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- What is the duty of care in Ohio real estate agency?
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- When an Ohio real estate agent receives an offer on their listing, they must present it to the seller:
- What is an exclusive right to sell listing vs. exclusive agency listing?
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