Facilitator or Transaction Broker

There is no option to act as a facilitator or transaction broker under Ohio's agency law so if you decide to do this you must use caution and understand that you are entering into a gray area in agency law.

One of the first things you need to understand is that you will need to be either a dual agent or a single agent representing one side. Once you decide what your agency relationship will be, you must ensure that your actions match your agency declaration. Here are the following processes you must follow.

• When acting as a facilitator or transaction broker you still must do Consumer Guide to Agency with both parties.
• Additionally, you must do the Agency Disclosure.
• On the agency disclosure, you will fill out Section III Transactions Involving Only One Real Estate Agent. Depending upon who approaches you and your relationship with the customers you could possibly be a dual agent or represent only one side (buyer or seller).

Here is some additional information from the OAR website:

1) Q: Why isn’t acting as a facilitator or transaction broker an option under Ohio’s agency law, as some states allow?

A: 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 the facilitator was not the solution to the bigger questions involved with the agency. - See more at http://ohiorealtors.org/legal/agency-law-resources/agency-faqs/#sthash.ENk2HxgJ.dpuf

Unauthorized Practice of Law: http://ohiorealtors.org/legal/brokers-legal-toolkit/unauthorized-practice-of-law/