13 S. Third Street Waterville, OH 43566
OFFICE (419) 878-3899 FAX (419) 878-3874
COMPANY POLICY ON BROKERAGE – MARKETPLACE REALTY (OHIO)
Provide to All Prospective Clients in Compliance with ORC Sec. 4735.54 and OAC 1301:5-
Agency is a legally recognized relationship between two or more parties whereby one party (the Licensee) consents
to act on behalf of the other (the Principal). An Agency relationship is a relationship in which the Licensee owes the
Principal certain fiduciary duties. These duties impose upon the Licensee a high level of conduct and behavior.
Marketplace Realty Licensees take seriously the responsibility created by these duties. The following is an
explanation of our agency policies.
I. Types of Agency Relationships for Sales Associate Licensees (hereafter referred to as
“Agents”) – Marketplace Realty Agents can serve consumers in the capacity of an Agent as
A. Seller Agency: Marketplace Realty Agents can list properties and create an agency relationship
with sellers. This does not prevent other Marketplace Realty Agents from representing potential
buyers of Marketplace Realty listings.
B. Buyer Agency: Marketplace Realty Agents can enter into agreements with potential buyers
wherein the Agents can serve as Agents of the buyers, representing interests of the buyers. This does
not prevent other Marketplace Realty Agents from representing sellers.
C. Disclosed Dual Agency: Marketplace Realty Agents are permitted to serve in the role of dual
agent. This would occur if the Agent had an existing buyer agency relationship with a buyer and that
buyer decided to negotiate an offer on a property that the same Agent also has listed and for whom the
Agent serves as a listing agent. For this dual agency to take place, both buyer and seller must agree to
this arrangement and sign the required state Dual Agency Disclosure Statement that describes the
duties and obligations of the dual agent. 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, the Broker shall be
notified immediately. If the client’s consent cannot be obtained, Marketplace Realty and its Agents
cannot act as dual agents. The Broker shall attempt to obtain the consent of the objecting party to have
another Marketplace Realty Agent appointed to represent him. If this cannot be agreed upon, the
Broker shall, depending on the circumstances and wishes of the parties, determine which relationship
shall be terminated.
D. Non Agency Relationships for Agents: It is possible and is permissible for a Marketplace Realty
Agent to work with a buyer but not be the buyer’s agent. This would typically occur only at the
request of the buyer or if the buyer wanted to see a listing of the Agent (where the Agent is the Agent
of the seller) and the buyer and the Agent has not previously established a buyer agency relationship.
It could also occur if the buyer wanted to see a Marketplace Realty listing, not listed by the Agent
working with the buyer, and the Agent would represent the seller as a sub agent .
A Marketplace Realty Agent may also work with and be paid by a seller or seller’s agent and not be
the seller’s agent. This would most likely occur when the property is unlisted and the Marketplace
Realty Agent is an Agent of the buyer. With proper disclosure, the Marketplace Realty Agent can seek
compensation from the seller and still represent the buyer as a buyer’s agent. No agency relationship
would exist with the seller.
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E. Sub Agency: A Marketplace Realty Agent, other than the listing agent (seller’s agent) may act in
the capacity of sub agent for the seller. Likewise, a Marketplace Realty Agent, other than a
Marketplace Realty buyer’s agent, may serve in the capacity of a sub agent for that buyer.
An agent, from a company other than Marketplace Realty, may NOT serve in the capacity of a sub
agent for a Marketplace Realty Agent or client. (See Cooperation and Compensation below). We
believe this serves the seller’s best interest because 1.) We typically have no knowledge of the training
or ethics of an Agent associated with another company and 2.) We believe that the natural relationship
that should flow from an Agent working with a buyer is such that it would create greater loyalty for
the buyer than the loyalty that an outside broker/agent could have for a Marketplace Realty seller.
II. Cooperation and Compensation: Marketplace Realty only offers compensation to
Licensees from other companies who serve in the capacity of a buyer’s agent, when that
Licensee sells a Marketplace Realty listing.
A Marketplace Realty Agent, when serving in the capacity of a seller’s agent or sub agent will
seek his compensation from the seller. When serving in the capacity of a buyer’s agent or sub
agent, a Marketplace Realty Agent will first seek his agreed to compensation from the seller or,
if listed, from the seller’s agent if they are offering a cooperative compensation. In the event
they are unable to obtain compensation from the seller then they will seek compensation from
the buyer under the terms of any existing “Exclusive Buyer Agency Agreement.”
The fact that the seller compensates a Marketplace Realty Agent, serving in the capacity of a
buyer’s agent, does not make that Agent an Agent of the seller or dual agent. The Agent is the
Agent of the buyer even though the seller is compensating the Agent.
III. Confidentiality Notification: Marketplace Realty will take all reasonable measures to
insure that information provided to our Agents will be held in the strictest confidence. Your
cooperation and assistance is essential to this process. The following guidelines will help us
better serve your needs:
A. Facsimile Transmission: When faxing anything to a Marketplace Realty office, please contact your
Agent to make sure that he/she will be expecting the fax’s arrival.
B. Phone Messages: If your Agent is unavailable, please leave confidential messages in that Agent’s
I acknowledge receipt of this Company Policy on Brokerage.
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