A buyer later claims he believed a licensee was representing him, but the licensee represented only the seller throughout the transaction. Under Ohio law, which of the following would provide the licensee the strongest protection against that claim?
Correct Answer
D) The buyer signed the Consumer Guide to Agency Relationships acknowledging the licensee represented only the seller
Under ORC §4735.56, Ohio licensees are required to provide the Consumer Guide to Agency Relationships and obtain a signed acknowledgment. A signed Consumer Guide documenting that the buyer was informed the licensee represented only the seller is the strongest evidentiary protection against a misrepresentation-of-agency claim, because it creates a written record of the buyer's informed acknowledgment.
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Under Ohio's Canons of Ethics, when a licensee's personal financial interest conflicts with the best interest of a client, the licensee is required to:
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Licensee Ben operates a one-person brokerage in Ohio. Buyer Kate has a signed buyer agency agreement with Ben, and Seller Matt has separately listed his property with Ben. Kate now wants to purchase Matt's property. Which statement most accurately describes Ben's agency options under Ohio law?