Ohio Real Estate Salesperson Exam — All Questions
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2 questions
General Principles of Agency
A licensee's fiduciary duty of loyalty requires the agent to:
- a.Follow every instruction, even illegal ones
- b.Place the client's interests above the agent's own✓
- c.Disclose the client's confidential information to buyers
- d.Guarantee the property will sell
The duty of loyalty requires the agent to put the client's interests ahead of the agent's own and everyone else's. Agents must never obey illegal instructions or reveal client confidences.
General Principles of Agency
An agency relationship terminates in all of the following ways EXCEPT:
- a.Completion of the transaction
- b.Mutual agreement of the parties
- c.The client changing the property's paint color✓
- d.Expiration of the agreement's term
Agency ends by performance, mutual agreement, expiration, revocation, or operation of law such as death or bankruptcy. A client's ordinary use of the property, like repainting, has no effect on the agency relationship.