Under Ohio law, seller's agent Grace lists a property for seller Victor. After 30 days, a buyer's agent asks Grace if the seller would consider a lease-purchase arrangement. Under Ohio agency law, what should Grace do?
Correct Answer
A) Present the lease-purchase inquiry to Victor and explain the potential benefits and risks so he can make an informed decision
Under Ohio agency law, Grace must present all inquiries and potential offers to her client. She should explain the advantages and disadvantages of a lease-purchase arrangement and let Victor decide whether to explore this option.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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.
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