Under Ohio agency law, an open listing agreement allows the seller to:
Correct Answer
C) List the property with multiple brokers and only pay the one who procures the buyer
Under Ohio law, an open listing allows the seller to engage multiple brokers simultaneously. Only the broker who actually procures the buyer earns the commission.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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.
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