Under Ohio law, seller's agent Marie has an exclusive right-to-sell listing with seller Kevin. Kevin becomes frustrated with the slow market and lists the property with a second broker without terminating his agreement with Marie. A buyer working with the second broker makes an offer that Kevin accepts. Under Ohio law, what is Marie's position regarding her commission?
Correct Answer
B) Marie is entitled to her agreed commission under the exclusive right-to-sell agreement because the property sold during the listing period
Under Ohio law, the exclusive right-to-sell agreement entitles Marie to her agreed commission when the property sells during the listing period, regardless of who procures the buyer. Kevin may owe commissions to both brokers, creating a double-commission situation due to his breach.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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