Under Ohio law, Broker Kwan operates a large brokerage with 40 agents. Agent Miller lists a property for seller Clark at $425,000. Agent Torres, from the same brokerage, represents buyer Diaz who wants to make an offer. Both agents inform their clients about dual agency and obtain verbal consent. Under ORC Chapter 4735, is this sufficient?
Correct Answer
B) No, because Ohio requires written consent from both parties before dual agency can proceed
Under ORC §4735.71, Ohio requires written consent for dual agency. Verbal consent, even with agent witnesses, is insufficient. Both parties must sign a dual agency consent form before the brokerage can proceed as a dual agent.
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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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