Under Ohio law, the Agency Disclosure Statement must inform prospective clients about which available agency relationships?
Correct Answer
C) Seller representation, buyer representation, and dual agency
Under ORC §4735.57, Ohio's Agency Disclosure Statement must inform prospective clients about the types of agency relationships available, including seller representation, buyer representation, and dual agency.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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Under Ohio law, buyer's agent Will represents client Amy. Amy asks Will to hold her $10,000 earnest money deposit. Under Ohio law, what must Will do with the deposit?
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