Effective: January 1, 2005
Latest Legislation: Senate Bill 106 - 125th General Assembly
(A) The types of agency relationships a licensee may establish in a real estate transaction are limited to the following:
(1) An agency relationship between the licensee and the seller;
(2) An agency relationship between the licensee and the purchaser;
(3) A dual agency relationship between the licensee and both the seller and the purchaser;
(4) A subagency relationship between the licensee and the client of another licensee.
(B) When an agency relationship is formed between a licensee and a client, all of the following also are considered the agent of that client:
(1) The brokerage with whom the licensee is affiliated and, except as provided in division (C) of section 4735.70 of the Revised Code, the management level licensees in that brokerage who have direct supervisory duties over licensees;
(2) Any licensee employed by, or affiliated with, the brokerage who receives confidential information from the agent of the client;
(3) Any other licensee in the brokerage who assisted in establishing the agency relationship;
(4) Any licensee in the brokerage who specifically is appointed with the client's consent to represent that client.
(C) Except as otherwise provided in divisions (B)(1) to (4) of this section, another licensee who is affiliated with the same brokerage as the licensee is not an agent of that client.
(D) A payment or the promise of a payment to a licensee does not determine whether an agency relationship has been created between a licensee and a client or between other licensees in the brokerage with which the licensee is affiliated and that client.