Under Ohio law, which event would automatically terminate an agency relationship between a broker and a salesperson?
Correct Answer
B) The broker's license is revoked by the Superintendent of Real Estate
Under ORC §4735.18, if a broker's license is revoked, all salespersons affiliated with that broker can no longer conduct real estate activities under that broker. The agency relationships are effectively terminated.
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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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