Why isn acting as a facilitator or transaction broker an option under Ohios agency law, as some states allow?
The trend toward transaction brokers has died. Although considered at one time, it was not made part of Ohio law for several reasons. First, agency-level service is ingrained in licensees’ behavior. Second, buyers and sellers want agency representation. Third, there was a concern that facilitator status would be misused and give licensees a false sense of immunity from liability. Finally, the lack of case law in this area also led to the conclusion that the concept of facilitator was not the solution to the bigger questions involved with agency.
