Under Ohio law, seller Morrison signs an exclusive right-to-sell listing agreement with Broker Hayes. During the listing period, Morrison's neighbor expresses interest in purchasing the property. Morrison wants to sell directly to the neighbor and avoid paying a commission. Can Morrison do this?
Correct Answer
C) No, because the exclusive right-to-sell agreement requires Morrison to pay the commission regardless of who procures the buyer
Under an exclusive right-to-sell listing agreement in Ohio, the broker earns the commission if the property sells during the listing period regardless of who finds the buyer, including the seller. Morrison would owe Hayes the agreed commission.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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