Under Ohio law, before a buyer's agent can represent a buyer in a real estate transaction, the agent must:
Correct Answer
A) Enter into a written buyer agency agreement with the buyer
Under Ohio law, a written buyer agency agreement must be signed before the agent can formally represent the buyer. This agreement establishes the fiduciary relationship and outlines the terms of representation.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Oh Agency Question
Background Knowledge for Oh Agency
Real World Application in Oh Agency
Common Mistakes to Avoid on Oh Agency Questions
Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
More Oh Agency Questions
Licensee Steve works for a brokerage that represents seller Linda. Buyer Eric, who is unrepresented, asks Steve for advice on how much to offer on Linda's property. Under Ohio agency law, what should Steve do?
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?
In Ohio, the Consumer Guide to Agency Relationships is prescribed by which authority?
Under Ohio law, an agency relationship in real estate is created by:
- → Under Ohio law, fiduciary duties in a real estate agency relationship are owed to:
- → Under Ohio real estate law, which of the following best describes a 'customer'?
- → Under Ohio law, which of the following must be included in a written buyer agency agreement?
- → Under Ohio law, the Consumer Guide to Agency Relationships must be provided in what format?
- → Under Ohio law, dual agency requires the informed written consent of:
- → Under Ohio law, what is the primary purpose of the Consumer Guide to Agency Relationships?
- → In Ohio, the term 'client' in a real estate transaction refers to:
- → 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?
- → A brokerage practices designated agency. The broker discovers that the designated buyer's agent and the designated seller's agent, both affiliated with the same brokerage, have been sharing their respective clients' confidential information with each other during the transaction. Under Ohio law, who may face disciplinary consequences?
- → 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?
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Previous Question
Under Ohio law, a buyer's agent learns that an adjacent property contains environmental contamination from a former gas station. The contamination has not been raised in the transaction. Which of the following best describes the agent's obligation?
Next Question
Under Ohio law, buyer's agent Anna represents client Brad. Brad's exclusive buyer agency agreement specifies a 3% commission. Brad finds a property where the listing brokerage offers only 2.5% to buyer's agents. What happens regarding Anna's compensation?