Under Ohio law, seller's agent Diana lists a property for seller Robert at $325,000. An unrepresented buyer offers $310,000. During negotiations, the buyer asks Diana, 'Would the seller take $315,000?' Under Ohio agency law, how should Diana respond?
Correct Answer
C) Present the buyer's question to Robert and let the seller decide how to respond, without revealing confidential negotiating positions
Under Ohio agency law, Diana's fiduciary duty of confidentiality prevents her from revealing Robert's negotiating position. She should present the buyer's question to Robert and let him decide how to respond.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
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.
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