We hope you find this information helpful as you begin your real estate transaction. Before viewing properties or listing your home for sale, real estate companies are required to provide you with a copy of their Consumer Guide to Agency Relationships.
Ohio law requires that we ask you to acknowledge receipt of this below, consumer guide. You can acknowledge the receipt at the bottom of the page. Your acknowledgment will not obligate you to work Branches Real Estate if you do not choose to do so.
Whether you are selling, buying or leasing real estate, BRANCHES can
provide you with expertise and assistance.
Because this may be the largest financial transaction you will enter, it
is important to understand the role of the agents and brokers with whom you are
working. Below you will find information
that explains the various services agents can offer and their options for
working with you:
Branches Real Estate: Consumer Guide to Agency Relationships
Most sellers of real estate choose to
list their home for sale with a real estate brokerage. When they do so, they sign a listing
agreement that authorizes the brokerage and the listing agent to represent
their interests. As the seller’s agent,
the brokerage and listing agent must: follow the seller’s lawful instructions,
be loyal to the seller, promote the seller’s best interests, disclose material
facts to the seller maintain confidential information, act with reasonable
skill and care and account for any money they handle in the transaction. In rare circumstances a listing broker may
offer “sub agency” to other brokerages which would also represent the seller’s
interests and owe the seller these same duties.
purchasing real estate, buyers usually choose to work with a real estate agent
as well. Often the buyers want to be represented in the transaction. This is referred to as buyer’s agency. A brokerage and agent that agree to represent
a buyer’s interest in a transaction must: follow the buyer’s lawful
instructions, be loyal to the buyer, promote the buyer’s best interests,
disclose material facts to the buyer, maintain confidential information and,
account for any money they handle in the transaction.
Occasionally the same agent and
brokerage that represents the seller also represents the buyer. This is referred to as dual agency. When a brokerage and its agents become “dual
agents”, they must maintain a neutral position in the transaction. They may not advocate the position of one
client over the best interests of the other client or disclose any confidential
information to the other party without written consent.
Both the Buyer & Seller
occasion, the buyer and seller will each be represented by two different agents
from the same brokerage. In this case
the agents may each represent the best interest of their respective
clients. Or, depending on company
policy, the agents may both act as dual agents and remain neutral in the
transaction. When either of the above
occurs, the brokerage will be considered a dual agent. As a dual agent the brokerage and its managers
will maintain a neutral position and cannot advocate for the position of one
client over another. The brokerage will
also protect the confidentiality of all parties.
more information on agency law in Ohio you can also contact the Ohio Division
of Real Estate & Professional Licensing at (614) 466-4100, or on their
Working with BRANCHES:
BRANCHES does offer representation to both buyers and sellers.
Therefore, the potential exists for one agent to represent a buyer who wishes
to purchase property listed with another agent in our company. If this occurs each agent will represent
their own client, but BRANCHES and its managers will act as a dual agent. This
means the brokerage and its managers will maintain a neutral position and not
take any actions that will favor one side over the other. BRANCHES will still
supervise both agents to assure that their respective clients are being fully
represented and will protect the parties’ confidential information.
In the event that both the buyer and
seller are represented by the same agent that agent and BRANCHES will act as a
dual agent but only if both parties agree.
As a dual agent they will treat both parties honestly, prepare and
present offers at the direction of the parties, and help the parties fulfill
the terms of any contract. They will
not, however, disclose any confidential information that would place one party
at an advantage over the other or advocate or negotiate to the detriment of
If dual agency occurs, you will be
asked to consent to that in writing. If
you do not agree to your agent acting as a dual agent, you can ask that another
agent in our company be assigned to represent you or you can seek
representation from another brokerage.
As a buyer you may also choose to
represent yourself on properties BRANCHES has listed. In that instance BRANCHES
will represent the seller and you would represent your own best interests. Because the listing agent has a duty of full
disclosure to the seller you should not share any information with the listing
agent that you would not want the seller to know.
with Other Brokerages
When BRANCHES lists property for sale
it also cooperates with, and offers compensation to, other brokerages that
represent buyers. BRANCHES does reserve the right, in some instances, to vary
the compensation it offers to other brokerages.
As a seller, you should understand that just because BRANCHES shares a
fee with a brokerage representing the buyer, it does not mean that you will be
represented by that brokerage. Instead
that company will be looking out for the buyer and BRANCHES will be
representing your interests. When acting
as a buyer’s agent, BRANCHES also accepts compensation offered by the listing
broker. If the property is not listed
with any broker, or the listing broker does not offer compensation, we will
attempt to negotiate for a seller-paid fee.
It is illegal, pursuant to the Ohio Fair Housing Law,
division (H) of Section 4112.02 of the Revised Code and the Federal Fair
Housing Law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent,
lease, sublease or finance housing accommodations, refuse to negotiate for the
sale or rental of housing accommodations, or otherwise deny or make unavailable
housing accommodations because of race, color, religion, sex, familial status
as defined in Section 4112.01 of the Revised Code, ancestry, disability as
defined in that section, or national origin or to so discriminate in
advertising the sale or rental of housing, in the financing of housing, or in
the provision of real estate brokerage services. It is also illegal, for profit, to induce or
attempt to induce a person to sell or rent a dwelling by representations
regarding the entry into the neighborhood of a person or persons belonging to
one of the protected classes.
We hope you find this information to
be helpful to you as you begin your real estate transaction.
When you are ready to enter into a
transaction, you will be given an Agency Disclosure Statement that specifically
identifies the role of the agents and brokerages. Please ask questions if there is anything you
do not understand.
Because it is important that you have this information, Ohio law requires that we ask you to acknowledge receipt of this below, consumer guide. You can acknowledge the receipt at the bottom of the page. Your acknowledgment will not obligate you to work Branches Real Estate if you do not choose to do so.