Under Ohio law, salesperson James works for Broker Rodriguez. James receives a $500 bonus directly from a grateful seller after closing. Under ORC Chapter 4735, is this permissible?
Correct Answer
D) No, because all compensation to a salesperson must be received through the employing broker
Under ORC §4735.20, an Ohio salesperson may only receive compensation for real estate activities through their employing broker. Receiving a bonus directly from a client, even as a gift, violates this requirement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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