Under Ohio law, Broker Franklin has two salespersons: Agent Young lists a property for seller Adams, and Agent Perez represents buyer Brown. Brown wants to purchase Adams's property. Broker Franklin wants to avoid dual agency. Under Ohio law, what option might be available?
Correct Answer
C) Have Agent Perez refer buyer Brown to an outside brokerage before the offer is submitted
If Broker Franklin wants to avoid dual agency, the most effective option is to refer one of the clients (the buyer, in this case) to an outside brokerage before proceeding. This eliminates the in-company dual agency situation.
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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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