Agency
What is an agency relationship in Ohio and how is it created?
AOnly by written agreement
BBy express agreement (written or oral), implied conduct, or ratification✓ Correct
COnly by government registration
DOnly through licensed brokers
Explanation
Agency relationships in Ohio can be created by: express agreement (typically a written listing or buyer agency agreement), implied conduct (where parties act as if an agency exists), or ratification (principal approving an agent's unauthorized acts).
Related Ohio Agency Questions
- What is a multiple listing service (MLS) and what are a member's obligations?
- What is the primary duty of a transaction broker in Ohio?
- When does an agency relationship typically terminate in a listing agreement?
- In Ohio, when a licensee represents the seller in a transaction, the licensee owes the buyer:
- An Ohio buyer's agent who helps a client draft an offer to purchase is exercising:
- When an Ohio real estate agent receives an offer on their listing, they must present it to the seller:
- What is the 'dual agent' restriction regarding confidential information?
- What is the difference between a client and a customer in real estate agency?
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