Under Ohio law, after a listing agreement expires, listing agent Palmer continues to show the property to new prospective buyers without a new listing agreement. A buyer makes an offer and the seller accepts. Under ORC Chapter 4735, what issue arises?
Correct Answer
A) Palmer may have practiced real estate without a valid listing agreement, and any commission claim may be unenforceable
Under Ohio Revised Code Chapter 4735, a licensee must have a valid written listing agreement to legally represent a seller and to claim a commission. Continuing to show the property after the listing expired exposes Palmer to a license-law violation and makes any commission claim difficult to enforce.
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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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