69. Which statement BEST describes a disclosed dual agent as defined by Ohio real estate law?
Answer: D
A disclosed dual agent represents both the purchaser and the seller as clients in the same real estate transaction.
A disclosed dual agent acts on behalf of both the buyer and the seller in a real estate transaction, provided that both parties are informed and consent to this arrangement.
A) A licensee who represents both the purchaser and the seller as customers in the same real estate transaction.
This option is incorrect because it refers to customers rather than clients. In Ohio real estate law, a disclosed dual agent must represent both parties as clients, which entails a higher level of responsibility and loyalty than that owed to customers.
B) A management-level licensee who oversees all office transactions as a facilitator.
This option is incorrect as it describes a role focused on management and facilitation rather than the specific function of representing both parties in a single transaction. A facilitator does not necessarily have the dual agency responsibilities outlined in the law.
C) Two licensees working as a team to represent a seller for an in-company listing.
This choice is also incorrect because it pertains to a team structure within a brokerage focused solely on representing a seller. It does not encompass the concept of dual agency, which requires representation of both buyer and seller.
D) A brokerage that represents both the purchaser and the seller as clients in the same real estate transaction.
This option is correct because it accurately defines a disclosed dual agent in accordance with Ohio real estate law. The brokerage must ensure that both parties are aware of and consent to the dual representation.
Conclusion
The correct answer, D, effectively captures the essence of a disclosed dual agent by emphasizing that both parties are clients who must be informed and agree to this arrangement. Options A, B, and C fail to meet the criteria set forth by Ohio law, either by misclassifying the roles involved or by limiting representation to only one party, thus rendering them incorrect.