Ohio buyer's agent Janet is representing client Oliver. Oliver asks Janet to submit a purchase offer on a property that Janet personally owns, and Janet has not disclosed her ownership interest. Under Ohio agency law, what is the most accurate statement?
Correct Answer
B) Janet has violated her duty of disclosure, which may subject her to disciplinary action and render the transaction voidable
Under Ohio agency law, a licensee acting as a buyer's agent must disclose any personal interest in a property being considered by the client before an offer is submitted. Failing to disclose an ownership interest violates the fiduciary duties of disclosure and loyalty owed to Oliver. This breach may result in disciplinary action by the Ohio Division of Real Estate and Professional Licensing and can make the transaction voidable at the client's election.
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Under Ohio law, the duty of confidentiality that a buyer's agent owes to the client survives:
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