Duties of a seller’s agent
In addition to their overall fiduciary responsibilities, licensees acting as seller’s agents, whether they are listing agents or subagents, owe these duties to the seller:
- To seek an offer to purchase at a price and with terms acceptable to the seller. Unless the seller directs otherwise, the listing agent is not obligated to seek additional offers once the property is subject to a contract of sale, lease or letter of intent to lease;
- To present an offer to purchase 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; and
- To provide the seller with a copy of any agency disclosure form signed by the buyer, prior to presenting the seller with an offer to purchase. Seller’s agents are forbidden from offering subagency to other brokerages or offering compensation to buyer brokers without the seller’s knowledge and consent. But Ohio law specifically permits seller’s agents, whether they are listing agents or subagents, to show alternate properties to buyers and to represent other sellers without breaching their duties to the seller.