Chapter 15 of 1535% of exam
Brokerage Relationships (Agency)
Ohio law governs how agency relationships are formed and disclosed. Proper disclosure of representation is a core requirement.
Agency Disclosure
Ohio requires an Agency Disclosure Statement that informs the parties which brokerage and agent represent whom. It promotes transparency and must be provided at the appropriate point in the transaction. Clear disclosure helps consumers understand their representation.
Types of Representation
Ohio recognizes seller agency, buyer agency, and dual agency, with dual agency permitted only with informed written consent. A brokerage may use split or designated agency to represent both parties through different agents. Licensees must follow the statutory duties owed to clients and customers.