Under Ohio agency law, broker Thompson operates as a dual agent in a transaction between seller Patel and buyer Kim. During negotiations, Kim tells Thompson that she would be willing to pay up to $320,000 even though her offer is $290,000. What must Thompson do with this information?
Correct Answer
C) Keep the information confidential because it is a negotiating position that cannot be disclosed in dual agency
Under ORC §4735.71, a dual agent in Ohio must maintain confidentiality of each party's negotiating position, including willingness to pay more or accept less. This is a core limitation of dual agency.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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