Under Ohio law, all of the following are required elements of a valid exclusive right-to-sell listing agreement EXCEPT:
Correct Answer
B) A guarantee that the property will sell within the listing period
Ohio law does not require a guarantee of sale. No broker can guarantee that a property will sell. The listing agreement obligates the broker to use reasonable efforts but does not promise a sale.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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