Under Ohio law, seller Norton has an exclusive right-to-sell listing with Broker Evans that expires on June 30. On June 25, Broker Evans shows the property to buyer Phillips. Phillips makes an offer on July 5 (after the listing expired). The listing agreement contains a 90-day protection clause with a list of prospects. Under Ohio law, is Broker Evans entitled to a commission?
Correct Answer
A) Yes, because Phillips was introduced during the listing period and the offer falls within the protection period
Under Ohio law, the protection clause entitles the broker to a commission if a buyer introduced during the listing period purchases the property within the protection period. Phillips was shown the property on June 25 (during the listing) and the offer on July 5 falls within the 90-day protection period.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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