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Ohio Revised Code Title XLVII. Occupations Professions § 4735.63

Current as of January 01, 2024 | Updated by Findlaw Staff

(A) In representing a seller in an agency relationship, a licensee shall:

(1) Seek a purchase offer at a price and with terms acceptable to the seller. Unless the seller so directs, the licensee is not obligated to seek additional offers if the property is subject to a contract of sale, lease, or letter of intent to lease;

(2) Accept delivery of and present any purchase offer to the seller in a timely manner, even if the property is subject to a contract of sale, lease, or letter of intent to lease;

(3) Within the scope of knowledge required for licensure, answer the seller's questions and provide information to the seller regarding any offers or counteroffers;

(4) Assist the seller in developing, communicating, and presenting offers or counteroffers;

(5) Within the scope of knowledge required for licensure, answer the seller's questions regarding the steps the seller must take to fulfill the terms of any contract.

(B) A licensee does not breach any duty or obligation to a seller with whom the licensee has an agency relationship by showing alternative properties to a prospective purchaser or by acting as an agent or subagent for other sellers.

(C) Nothing in this section shall be construed as permitting a licensee to perform any act or service that constitutes the practice of law.

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Cite this article: FindLaw.com - Ohio Revised Code Title XLVII. Occupations Professions § 4735.63 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xlvii-occupations-professions/oh-rev-code-sect-4735-63/

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