In Ohio, the term 'client' in a real estate transaction refers to:
Correct Answer
A) A party who has entered into an agency agreement with a licensee
Under Ohio law, a 'client' is a party who has entered into a formal agency agreement with a licensee, establishing a fiduciary relationship with specific duties.
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Under Ohio law, buyer's agent Will represents client Amy. Amy asks Will to hold her $10,000 earnest money deposit. Under Ohio law, what must Will do with the deposit?
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- → Under Ohio law, which document must a licensee provide to a consumer to explain the different agency relationships available in Ohio?
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Buyer Ray declines to sign a buyer agency agreement but wants licensee Paula to show him properties. Under Ohio law, what is Paula's status relative to Ray?
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