Ohio License Law
What is Ohio's requirement for agency disclosure to sellers?
ANo specific requirement
BOhio licensees must present and discuss the Consumer Guide to Agency Relationships with sellers before signing any listing agreement✓ Correct
CDisclosure is only needed for buyers
DWritten agency disclosure is only required in commercial transactions
Explanation
Ohio requires all licensees to present the Consumer Guide to Agency Relationships to sellers before or at the time of any listing presentation. This ensures sellers understand whom the agent represents and the nature of the relationship.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
License Law
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