Under Ohio law, buyer's agent Ryan receives a personal financial benefit from a mortgage lender for each client Ryan refers. Ryan recommends this lender to his client without disclosing the referral fee arrangement. Under Ohio agency law, what has Ryan violated?
Correct Answer
D) The duty of loyalty and disclosure, because the undisclosed referral fee creates a conflict of interest
Under Ohio agency law, receiving a referral fee without disclosure creates a conflict between Ryan's personal financial interest and his duty to recommend services in the client's best interest. This violates the duties of loyalty and disclosure.
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Buyer's agent Terry represents Megan in Ohio. While Megan is considering a seller's counteroffer, a new listing comes on the market that closely matches Megan's stated criteria. What is Terry's obligation under Ohio agency law?
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