Under Ohio law, one of the primary benefits of having a buyer's agent is:
Correct Answer
C) The buyer receives fiduciary representation, including loyalty, confidentiality, and advocacy during negotiations
Having a buyer's agent in Ohio provides the buyer with fiduciary representation, meaning the agent owes duties of loyalty, confidentiality, disclosure, accounting, obedience, and reasonable care to protect the buyer's interests.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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.
More Oh Agency Questions
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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:
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- → Under Ohio law, dual agency requires the informed written consent of:
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Buyer's agent Diane represents client Jason under an exclusive buyer agency agreement in Ohio. Jason tells Diane he wants to terminate the agreement early because he found a property through a friend. Under Ohio law, what governs the termination?
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Under Ohio law, buyer's agent Mike is representing client Linda. Mike's brother-in-law lists a property that Linda is interested in purchasing. Under Ohio agency law, what is Mike's obligation?