Under Ohio law, all of the following events would terminate a listing agreement EXCEPT:
Correct Answer
C) A temporary drop in the local housing market prices
A temporary decline in housing market prices does not terminate a listing agreement. The contract remains in effect regardless of market fluctuations unless the parties agree otherwise.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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