Under Ohio law, an agency relationship in real estate is created by:
Correct Answer
B) A written agency agreement signed by the parties
Under Ohio law, an agency relationship is established through a written agency agreement signed by the parties. Verbal agreements or implied relationships do not create formal agency.
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More Oh Agency Questions
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?
Under Ohio law, what distinguishes a client from a customer in a real estate transaction?
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Licensee Tara represents seller Phil. During the inspection period, the buyer's inspector discovers significant water damage that Tara was previously unaware of. What is Tara's primary obligation under Ohio agency law now that she has knowledge of this condition?
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Under Ohio law, licensee Emma represents seller Jack. Buyer Olivia, who is unrepresented, asks Emma to explain the differences between being a client and a customer. Under Ohio agency law, what should Emma do?