CONSUMER GUIDE TO AGENCY RELATIONSHIPS

THE STATE OF OHIO REQUIRES ALL LICENSED REAL ESTATE BROKERS AND AGENTS TO DISCLOSE TO YOU THE TYPES OF AGENCY AVAILABLE TO YOU IN YOUR SELECTION OR NON-SELECTION OF AGENCY REPRESENTATION. THIS FORM IS A STATE MANDATED FORM AND MUST BE SIGNED AND DATED BY ALL CUSTOMERS AND/OR CLIENTS PRIOR TO ANY AGENT/BROKERAGE PROVIDING ANY TYPE OF SERVICE OR RECEIVING ANY TYPE OF INFORMATION FROM YOU. THE AGENT AND BROKERAGE IS MERELY DISCLOSING THEIR ROLE OR POTENTIAL ROLE IN A REAL ESTATE TRANSACTION OR SERVICE YOU MAY BECOME INVOLVED IN. OHIO LAW REQUIRES WE ASK YOU TO SIGN THIS FORM.
REALTYWISE, INC. types of Agency include the following: It is the policy of REALTYWISE, INC. to represent both Sellers and Buyers. Affiliated agents shall represent the Seller when they list the property and shall act as Buyers' agents when working with buyers.
When representing a Seller, REALTYWISE, INC. and its agent owe the Seller the duties of loyalty, obedience, confidentiality, accounting and reasonable skill and care in performing our duties, and any other duties contained in our listing agreement. We are required to act solely on behalf of the seller's interest to seek the best price and terms for the seller. Finally, as a seller's agent, we also have a duty to disclose to the seller all material information obtained from the buyer or from any other source. It is the policy of REALTYWISE, INC. to cooperate with all other brokerages on an equal and consistent basis. This means REALTYWISE, INC. and its agents will make its listings available to other brokerages to show, provide information that is not confidential, and present all offers written by other brokerages in a timely and objective manner. Agents can appoint other agents to represent the Seller if previously authorized by the Seller to represent the SellerÂ’s best interests. Unless the Seller does not authorize it, REALTYWISE, INC. will offer compensation to other brokers. REALTYWISE, INC. has the right to vary other brokerage compensation. REALTYWISE, INC. will offer compensation to BuyerÂ’s Brokers, but not to any form of subagents.
When representing a Buyer, REALTYWISE, INC. and its agent owe the Buyer the duties of loyalty, obedience, confidentiality, accounting and reasonable skill and care in performing their duties and any other duties contained in an agency agreement. The agent and brokerage are required to act solely on behalf of the Buyer's interests to seek the best price and terms for the Buyer. Finally, a Buyer's agent and brokerage also have a duty to disclose to the buyer all material information obtained from the seller or from any other source. Agent has the right to appoint other agents to represent the Buyer with prior authorization from the Buyer. When acting as a Buyer's agent, REALTYWISE, INC. accepts compensation offered by the listing broker through the MLS.
On in-company transactions where both Buyer and Seller are represented by separate, non-management-level licensees, each party will be represented by his respective agent and those agents must not share confidential information with each other. The buyer must initial the bottom section on the back of the Agency Disclosure Statement they previously signed, consenting to another agent representing the Seller. This must be delivered to the listing agent along with the offer. The Seller must initial this section before the offer is presented to him.
The brokerage and its management-level licensees are dual agents. In this situation, the brokerage's role is to do the following:
- Objectively supervise the agents involved so they can each fulfill their duties, as outlined above, to each of their clients.
- Assist the parties in an unbiased manner to negotiate a contract. Assist the parties in an unbiased manner to fulfill the terms of any contract.
As a dual agent, the brokerage cannot:
- Advocate or negotiate on behalf of either the buyer or seller.
- Disclose confidential information to any party or any other employee or agent of the brokerage; use confidential information of one party to benefit the other party to the transaction.
MANAGEMENT-LEVEL POSITIONS
The following positions in the brokerage are considered to be management level: Managing Broker. If the management-level licensees represent a party, either Buyer or Seller, on an in-company transaction, that management-level licensee must act as a dual agent.
DUAL AGENCY
Agents acting as a dual agent shall disclose to the parties all relevant information necessary for them to make an informed decision about whether to consent to the dual agency. This would include, but not be limited to, the nature of the relationship the agents have with a party to the transaction. This must be done on the Dual Agency Disclosure Statement. If this information later changes, this change must be provided in writing to the parties as soon as possible and they must be given an opportunity to revoke their consent to the dual agency. In the event a party refuses to consent to the dual agency, or seeks to terminate any agency relationship as a result of the proposed dual agency, (broker/manager) shall be notified immediately. If the client's consent cannot be obtained, (brokerage name) and its agents cannot act as dual agents. The (broker/manager) shall attempt to obtain the objecting party's consent to another agent in the (brokerage name) being appointed to represent him. If this cannot be agreed upon, the (broker/manager) shall, depending on the circumstances and wishes of the parties, determine which relationship shall be terminated.
Fair Housing Statement
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.
OHIO LAW REQUIRES YOU RECEIVE THIS INFORMATION ALONG WITH YOUR SIGNATURE BELOW SIGNIFYING SUCH: