Under Ohio law, Broker Collins has a brokerage policy allowing designated agency, where different agents within the brokerage are assigned to exclusively represent the buyer and seller in the same transaction. However, Ohio law does not explicitly authorize designated agency as a separate classification. What is the legal implication?
Correct Answer
D) The arrangement is treated as dual agency at the brokerage level under Ohio law, and dual agency consent requirements apply
Under Ohio law (ORC §4735.71), when agents from the same brokerage represent the buyer and seller in the same transaction, it is treated as dual agency at the brokerage level. Dual agency consent and disclosure requirements must be met even if different agents are assigned.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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