Under Ohio law, Broker Reeves has a policy manual that requires all agents to attend quarterly compliance training. Agent Burke has not attended any training in over a year but continues to close transactions. If a compliance violation by Burke is discovered, what impact does the policy manual have on Broker Reeves's liability?
Correct Answer
B) The policy manual increases Broker Reeves's liability because it proves the broker knew about compliance requirements but failed to act
Under ORC §4735.18, a written policy that is not enforced can actually increase a broker's liability by demonstrating the broker was aware of compliance requirements but failed to ensure agents followed them.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Oh Agency Question
Background Knowledge for Oh Agency
Real World Application in Oh Agency
Common Mistakes to Avoid on Oh Agency Questions
Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
More Oh Agency Questions
Under Ohio law, buyer's agent Will represents client Amy. Amy asks Will to hold her $10,000 earnest money deposit. Under Ohio law, what must Will do with the deposit?
Under Ohio law, what distinguishes a client from a customer in a real estate transaction?
In Ohio, the Consumer Guide to Agency Relationships is prescribed by which authority?
Under Ohio's Canons of Ethics, when a licensee's personal financial interest conflicts with the best interest of a client, the licensee is required to:
Under Ohio real estate law, which of the following best describes a 'customer'?
- → Under Ohio law, which document must a licensee provide to a consumer to explain the different agency relationships available in Ohio?
- → Under Ohio law, fiduciary duties in a real estate agency relationship are owed to:
- → Under Ohio law, an agency relationship in real estate is created by:
- → Under Ohio law, when a brokerage uses designated agency, the broker's role is to:
- → Under Ohio law, which of the following must be included in a written buyer agency agreement?
- → In Ohio, dual agency occurs when:
- → Under Ohio law, dual agency requires the informed written consent of:
- → Under Ohio law, the Consumer Guide to Agency Relationships must be provided in what format?
- → Under Ohio law, when must a real estate licensee provide the Consumer Guide to Agency Relationships to a prospective client?
- → In Ohio, the term 'client' in a real estate transaction refers to: