Under Ohio law, when a licensee enters into a signed buyer agency agreement, to whom are the resulting fiduciary duties primarily owed?
Correct Answer
C) The buyer named in the agency agreement
Under ORC 4735.62, a licensee acting as a buyer's agent owes statutory fiduciary duties — including loyalty, confidentiality, disclosure, obedience, and reasonable care — exclusively to the buyer identified in the signed agency agreement. The agency agreement establishes the buyer as the client, and all fiduciary obligations flow from that relationship.
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Under Ohio law, buyer's agent Rachel is showing properties to her client David. David mentions he only wants to see homes in neighborhoods that are predominantly of one racial group. Under Ohio agency law and the Ohio Civil Rights Act, what should Rachel do?
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Buyer's agent Kevin represents Sarah in a purchase negotiation. The listing agent voluntarily discloses to Kevin that the seller has already purchased a new home and must close quickly. Under Ohio agency law, how should Kevin handle this information?