Under Ohio law, a seller's agent who personally owns a property they are listing for sale must:
Correct Answer
A) Disclose their ownership interest to all prospective buyers in writing
Under Ohio law, a licensee who has a personal interest in a property, including ownership, must disclose this fact in writing to all prospective buyers. This ensures transparency and allows buyers to make informed decisions.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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