Agency
The duty of 'reasonable care and diligence' requires an Ohio agent to:
AGuarantee the transaction will close
BUse the skill and knowledge expected of a competent real estate professional✓ Correct
CCheck on the buyer daily to ensure satisfaction
DWork full-time for each client
Explanation
The duty of reasonable care and diligence requires the agent to perform their duties with the competence and skill of an average, qualified real estate professional in the same market.
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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.
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.
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.
State-Specific Concepts
Continuing Education
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