Agency
When a real estate agent represents only the buyer, they are working under a(n):
AOpen agency
BExclusive buyer representation agreement✓ Correct
CSubagency arrangement
DNet listing
Explanation
An exclusive buyer representation agreement (buyer agency agreement) establishes that the agent exclusively represents the buyer's interests, creating a full fiduciary agency relationship.
Related Ohio Agency Questions
- What is ostensible (apparent) authority in real estate agency?
- In Ohio, which statement is TRUE about a seller's agent in a transaction where the buyer is unrepresented?
- The fiduciary duty of 'confidentiality' in Ohio agency law means the agent must:
- Dual agency in Ohio is permitted only when:
- Ohio's agency disclosure law requires that a licensee provide the Agency Disclosure Statement:
- Under Ohio agency law, an agent's 'express authority' is created by:
- In Ohio, a licensee who represents the seller but works with the buyer is called a:
- A buyer's agent in Ohio has a duty to disclose to the buyer:
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