Under Ohio law, two competing buyer's agents from different brokerages each claim to be the procuring cause of a sale. The listing broker offered cooperating compensation but both agents believe they are entitled to the full amount. Under Ohio law, how is this dispute typically resolved?
Correct Answer
B) The dispute is typically resolved through arbitration by the local board of Realtors or through the courts
In Ohio, procuring cause disputes between agents from different brokerages are typically resolved through arbitration panels at the local board of Realtors (if both agents are members) or through civil court proceedings.
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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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