Under Ohio agency law, licensee Hank represents seller Diane. Buyer Luis submits an offer well below asking price. Hank personally believes the offer is too low. What is Hank's obligation?
Correct Answer
C) Hank must present the offer to Diane promptly, regardless of his personal opinion about the price
Under Ohio law, a licensee must present all offers to the client promptly. The decision to accept, reject, or counter an offer belongs solely to the client. Hank's personal opinion about the offer's value does not authorize him to withhold or delay it.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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