Licensee George is a seller's agent. During negotiations, the buyer's agent accidentally emails George confidential information about the buyer's maximum budget. Under Ohio agency law, what should George do?
Correct Answer
D) Immediately share the information with his client, the seller, because it benefits the seller's negotiating position
Under Ohio agency law, George's fiduciary duty to his client (the seller) includes disclosing information that could benefit the client's position. Once George has received the information, even accidentally, his duty of loyalty requires him to share it with the seller.
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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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