Under Ohio law, seller's agent Laura receives three offers simultaneously on her client's property. One offer is from Laura's close personal friend. Under Ohio agency law, what must Laura do?
Correct Answer
B) Present all three offers to the seller simultaneously, disclosing her personal relationship with one of the buyers, and let the seller decide
Under Ohio agency law, Laura must present all offers to the seller in a timely manner without prioritizing any offer. She must disclose her personal relationship with one of the buyers to ensure the seller can make a fully informed decision.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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.
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