Under Ohio law, fiduciary duties in a real estate agency relationship are owed to:
Correct Answer
D) The client with whom the licensee has a signed agency agreement
In Ohio, fiduciary duties (loyalty, confidentiality, obedience, disclosure, accounting, reasonable care) are owed specifically to the client — the party with whom the licensee has a signed agency agreement.
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Previous Question
Licensee Pat represents seller Helen. During an open house, buyer Dan tells Pat he wants to buy Helen's property and asks Pat to write up an offer immediately. Under Ohio agency law, what must Pat do before writing the offer?
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Licensee Victor receives an email from a potential buyer asking about a property listed by another brokerage. The buyer asks Victor to recommend whether the property is a good investment and shares her budget and timeline. Under Ohio law, has substantive contact occurred?