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Ohio Laws and Rules
(A) The superintendent shall submit to the commission, for its review, a monthly report of the activities and decisions of the division which shall include but not be limited to:
(1) The number of all applicants who passed the real estate broker examination and the real estate salesperson examination.
(2) A report of all orders issued by the division pursuant to the authority granted the superintendent through Chapter 4735. of the Revised Code.
(3) Financial reports of the present status of the education and research fund and recovery fund, setting forth all disbursements and a summary of all payments to the funds for the preceding month.
(B) The monthly report shall be submitted to the commission for its revision and review at the first session of the commission following the month for which it was prepared. The commission may amend or review the monthly report before approval and entry in the minutes of the commission.
(C) After approval by the commission, the monthly report shall be available on request to interested parties. The superintendent may require that the costs of reproduction and transmittal of the monthly report of the commission be defrayed by payment of the actual costs of reproduction by the party requesting same.
(D) The commission shall have access to all public records maintained by the superintendent and to all materials pertinent to matters pending before the commission.
Effective: 03/26/2007
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.05
Prior Effective Dates: 7/1/1975, 4/8/1985, 9/24/2000
(A) The recommendation or appointment of an ancillary trustee by the superintendent in accordance with division (C)(3) of section 4735.05 of the Revised Code shall be made as soon as possible following the receipt of an application for such recommendation or appointment.
(B) The appointment of an ancillary trustee to conclude the business affairs of a suspended or revoked broker is subject to review by the commission, but the authority of such trustee is not automatically stayed pending such review.
(C) Efforts to conclude the business transactions of a deceased, revoked, or suspended broker shall be limited to the supervision and completion of existing contracts and obligations of the broker for whom the ancillary trustee is named. Approval as an ancillary trustee by the superintendent shall not authorize said trustee to initiate new ventures or obligations on behalf of the deceased, revoked, or suspended broker.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.05, 4735.10
Prior Effective Dates: 12/4/1981, 7/1/1975, 8/3/1987
Any name proposed for use by an individual, partnership, association, corporation, limited liability company or limited liability partnership shall be approved by the superintendent if it meets the following requirements:
(A) The proposed name is not the same as or clearly distinguishable from a name registered with the division of real estate by any existing real estate brokerage, provided that the superintendent may approve the use of a brokerage business name even where the proposed name is not such as to distinguish it from any other existing licensee where written consent from the licensee using the same or similar name is filed with the division of real estate.
(B) The proposed name shall not be misleading or be likely to mislead the public.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.06
Prior Effective Dates: 7/1/1975, 12/4/1981, 9/24/2000
(A) For the purposes of division (B)(5)(a) of section 4735.07 of the Revised Code, “real estate transaction” shall be defined as follows:
(1) One consummated bona fide sale of a real property and the improvements thereon for the account of another in which the applicant received compensation and was the procuring or selling agent, shall constitute one-half transaction.
(2) One consummated bona fide sale of a real property and the improvements thereon for the account of another, in which the applicant received compensation and was the listing agent, shall constitute one-half transaction.
(3) One lease of individual commercial or industrial property for a term of at least one year, for the account of another in which the applicant received compensation and was the procuring agent, shall constitute one-half transaction.
(4) One lease of individual commercial or industrial property for a term of at least one year for the account of another in which the applicant received compensation and was the listing agent, shall constitute one-half transaction.
(5) Four leases of residential property for a term of at least one year for the account of another in which the applicant received compensation and was the listing and/or procuring agent, shall constitute one transaction.
(B) If leasehold transactions constitute sixteen or more of the required number of transactions, the applicant shall have completed three years full-time experience in property management.
(C) For purposes of division (B)(5)(a) of section 4735.07 of the Revised Code, the term “for another” shall mean a real estate transaction as defined in paragraph (A) of this rule in which the applicant has no ownership interest in the real property.
(D) Where the experience of an applicant substantially complies with, but is clearly not subject to the definition of “real estate transaction” as set forth in this rule, the superintendent may recommend that the information on file pertinent to the application of such individual be reviewed by the real estate commission without precluding the applicant’s opportunity to personally appeal the initial review of his application.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.07, 4735.10
Prior Effective Dates: 1/4/1988, 12/4/1981, 6/1/1989
For the purposes of division (B) of section 4735.08 of the Revised Code, authorized members or officers shall include any member or officer whose authority may be implied or apparent by virtue of their capacity with said partnership, association, corporation, limited liability company, or limited liability partnership and shall not be limited to those with express authority to so act. Members or officers vested with such implied authority, or having apparent authority, to perform the functions of a real estate broker or salesperson on behalf of the organization must be licensed as a real estate broker or salesperson.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.08
Prior Effective Dates: 12/31/1975, 4/8/1985, 9/24/2000
(A) All applications for loans to defray the costs of satisfying the prelicensure educational requirements of division (F)(6)(a) of section 4735.09 of the Revised Code shall be made in writing on a form provided by the superintendent which shall include, although not to be limited to, the following information:
(1) A statement by the applicant that a loan from the educational and research fund is necessary for the completion of courses required for licensing;
(2) The title or titles of the educational course or courses for which the loan is sought;
(3) The full name and address of the accredited institution or institutions at which the course or courses will be taken;
(4) The cost of tuition and required texts for such course or courses;
(5) The name of the broker sponsoring the license and loan applicant who will serve as a comaker with the applicant for the loan from the education and research fund.
(B) (1) The sponsoring broker shall serve as guarantor of the loan and shall be liable to the education and research fund for any amount outstanding on default by the applicant principal.
(2) In the event of transfer after licensing by a loan recipient, the broker to whom the loan recipient intends to transfer shall assume in writing the guaranty responsibility of the broker who sponsored the loan recipient for the salesman license examination.
(C) Disbursements from the education and research fund for personal education loans shall be made directly to the applicant who shall use the proceeds solely for the payment of expenses for tuition and books incurred as a consequence of the courses reported on the individual’s loan application form.
(D) (1) Repayment to the education and research fund of monies advanced to defray costs of satisfying the requirements of section 4735.09 of the Revised Code shall be made on the following terms:
(a) One-third of the amount advanced shall be due six months following the date that a real estate salesman license is issued to the loan recipient.
(b) One-third of the amount advanced shall be due nine months following the date that a real estate salesman license is issued to the loan recipient.
(c) One-third of the amount advanced shall be due twelve months following the date that a real estate salesman license is issued to the loan recipient.
(2) In the event that the loan recipient has not been licensed as a real estate salesman within one year of the date of disbursement from the education and research fund, the full amount of the disbursement shall immediately become due, unless the individual shall demonstrate that he or she is scheduled to take the salesman license examination. In no event shall any individual’s indebtedness to the fund continue beyond three years from the date of disbursements. Any amount outstanding at that time shall immediately become due regardless of the application of other provisions of these rules.
(E) No individual shall be authorized to make application for a loan from the education and research fund who has previously failed to satisfactorily complete a course required by section 4735.09 of the Revised Code for which the costs were defrayed by a loan from the fund.
(F) No applicant shall be approved for admission to the broker license examination who has not repaid in full any obligation incurred by him to the education and research fund.
(G) In the event of the death or permanent total disability of a comaker or guarantor of a loan made in accordance with section 4735.06 of the Revised Code and these rules, the obligations of such comaker or guarantor shall be discharged.
(H) The loan amount which an applicant is eligible to receive under this rule shall be based upon a percentage of the actual cost of the tuition and required texts determined in accordance with the following table:
Gross Income Number Of Dependents
For Family 1 2 3 4 5 or more
Under 7,000 100% 100% 100% 100% 100%
7,001-10,000 90% 90% 90% 95% 95%
10,001-15,000 80% 80% 80% 90% 90%
15,001-20,000 70% 70% 70% 80% 80%
20,001-30,000 60% 60% 60% 65% 65%
30,001-35,000 40% 40% 40% 50% 50%
35,001-40,000 0 0 0 25% 25%
40,001-50,000 0 0 0 0 15%
Over 50,000 0 0 0 0 0
(1) “Gross income for family” as used within this rule shall include all taxable and nontaxable income of the loan applicant and the applicant’s spouse.
(2) “Dependents” as used within this rule means dependents as defined in the Internal Revenue Code and as claimed in the applicant’s federal income tax return for the calendar year immediately preceding the year in which the loan application is filed or which the applicant would have been permitted to claim had he filed such a return.
(3) A copy of the applicant’s federal income tax return for the calendar year immediately preceding the year in which the loan application is filed must accompany the student loan application as verification of gross income. Married applicants who filed a separate return must also submit a copy of their spouse’s federal income tax return. The commission may request other documentation for applicants who did not file a federal income tax return for the preceding calendar year.
(4) In determining the loan amount which an applicant is eligible to receive, the commission may consider factors affecting the applicant’s current gross income including, but not limited to, loss of employment, medical expenses, and divorce or legal separation.
(5) Any loan approved by the commission under this rule shall not exceed the actual total cost of the required text and tuition, or eight hundred dollars, whichever is less.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.06, 4735.10
Prior Effective Dates: 7/1/1975, 8/3/1987, 1/4/1988, 9/1/1988, 12/17/2001
(A) Pursuant to division (E) of section 4735.07 and 4735.09 of the Revised Code, the commission, in its discretion, may enter into reciprocity agreements with licensing bodies or agencies from other states where those states have similar licensing requirements, and where similar recognition is extended to licensees of this state.
(B) Such reciprocity agreements shall provide that applicants for an Ohio real estate salesperson license and nonresident applicants for an Ohio real estate broker license who hold an active real estate license from the jurisdiction with which Ohio has a reciprocity agreement may be licensed in Ohio upon to:
(1) Submitting proof of completion of pre-licensure education as defined in division (B)(6)(a)(ii) or (B)(6)(b)(ii) of section 4735.07 of the Revised Code for brokers and division (F)(6)(a)(ii) or (F)(7)(b)of section 4735.09 of the Revised Code for salespersons, and
(2) Receiving a passing score on the Ohio portion of the real estate examination.
(C) The commission may cancel said reciprocity agreements with states whose licensing requirements are no longer similar to those of the state of Ohio.
Effective: 03/26/2007
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.07, 4735.09, 4735.10
Prior Effective Dates: 7/1/1975, 6/1/1989, 9/24/2000
Rescinded eff 3-26-07
Rescinded eff 3-26-07
Rescinded eff 3-26-07
(A) Any person who wishes to reserve a name for a proposed new partnership, association, corporation, sole proprietorship, limited liability partnership or limited liability company, or an existing partnership, association, corporation, sole-proprietorship, limited liability partnership or limited liability company intending to change its name, may submit to the division of real estate a written request for the exclusive right to use a specified name as the name of the partnership, association, corporation, sole-proprietorship, limited liability partnership or limited liability company.
(B) If the superintendent finds that the specified name is available for such use, the applicant shall have sixty days from the date of approval to apply for a license in the reserved name. Only one sixty day extension shall be allowed.
(C) The right to this name may be transferred by the applicant by filing with the division of real estate a written consent stating the name and address of the transferee. If a reserved name is transferred, the transferee, upon submitting the appropriate fee, will have sixty days from the date of transfer to apply for licensure with use of the reserved name. Only one sixty day extension shall be allowed.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.06, 4735.10
Prior Effective Dates: 8/3/1987, 9/24/2000
(A) Any real estate broker, real estate salesperson who has been notified by the superintendent of a hearing to be held by a hearing examiner pursuant to Chapter 119. of the Revised Code for the purpose of determining whether a violation(s) of section 4735.18 of the Revised Code occurred by such licensee may enter into a settlement agreement with the superintendent.
(B) The settlement agreement shall contain the following information:
(1) A description of the conduct which the superintendent alleges the licensee committed,
(2) An admission by the licensee that the licensee engaged in such conduct,
(3) An acknowledgement by the licensee that such conduct admitted to constitutes a violation of section 4735.18 of the Revised Code,
(4) A waiver by the licensee of their right to an administrative hearing pursuant to Chapter 119. of the Revised Code,
(5) An acknowledgement by the licensee that the licensee had the opportunity to review the settlement agreement with his/her legal counsel,
(6) Recommendation of a sanction, if any, which the superintendent believes should be imposed by the Ohio real estate commission on the licensee for the admitted violation(s) of section 4735.18 of the Revised Code. However, the superintendent may choose not to make any recommendation as to a sanction and leave that solely within the discretion of the Ohio real estate commission,
(7) An acknowledgement by the parties that the settlement agreement, if accepted and adopted by the Ohio real estate commission, will become a final order,
(8) A waiver by the licensee of all appeals pursuant to section 119.12 of the Revised Code and right to reconsideration pursuant to section 4735.19 of the Revised Code, and
(9) Any other provision which the superintendent deems to be appropriate.
(C) If a settlement agreement is accepted by the licensee and the division, the formal hearing shall be continued and the terms of the settlement agreement shall be presented to the Ohio real estate commission at their next regularly scheduled meeting. All settlement agreements are contingent on the approval of the Ohio real estate commission.
(D) The superintendent shall not enter into any settlement agreements with a licensee if the superintendent knows it is not the licensee’s free and voluntary act to enter into such an agreement.
(E) Upon reviewing a proposed settlement agreement, the Ohio real estate commission may accept, modify or reject said proposal. No modifications to such an agreement may become a final order without the agreement and consent of the licensee.
Effective: 03/26/2007
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.051, 4735.10
Prior Effective Dates: 5/1/1990, 9/24/2000
The ten hours of post-licensure classroom instruction as prescribed in division (G)(1) of section 4735.07 and in division (G) of section 4735.09 of the Revised Code shall not be offered to a licensee in which the instruction exceeds six classroom hours in any one calendar day.
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.07, 4735.09
Prior Effective Dates: 4/4/1992, 9/24/2000
(A) For purposes of assisting in the administration of the real estate education and research fund, as provided in division (C) of section 4735.06 of the Revised Code, the commission may appoint an education and research fund advisory committee.
(B) The committee shall consist of eleven voting members with three year staggered terms. Chairman, vice-chairman and members shall be appointed annually by the commission, upon the qualification of the commission member appointed in such year. The commission shall fill any vacancy within sixty days of such vacancy. Committee members may not serve more than two consecutive full terms.
(C) Membership shall be comprised of one agency representative, one representative of the Ohio association of realtors, one representative of the realist, two members of the commission and six persons actively licensed as real estate brokers or salesperson, pursuant to Chapter 4735. of the Revised Code. The commission may remove any member who misses two consecutive meetings without an excused absence. A majority of the committee members shall constitute a quorum.
(D) The committee shall hold at least one meeting quarterly.
(E) The commission shall:
(1) Adopt a prescribed funding application which, at a minimum, shall require disclosure of project manager, project description and an itemized budget;
(2) Adopt factoring criteria which shall be utilized by the commission and committee to provide a fair and impartial evaluation of proposed programs and/or projects;
(3) Adopt standard granting conditions, to which any grantee of education and research funds must agree and adhere. At a minimum, the conditions must require quarterly reporting, staggered funding based on performance, provisions for cancellation or termination of the grant, methods grantee may request an extension, disclosure of property rights and delivery requirements;
(4) Adopt a grant award letter which shall include special conditions as determined by the commission which must be satisfied by the grantee as a stipulation of funding;
(5) Recommend to the committee education projects, research projects and/or programs of interest to the real estate profession;
(F) The committee shall:
(1) Solicit education projects, research projects and/or programs topics from industry members, consumers and educational institutions in this state;
(2) Advertise funding availability through, including but not limited to, issuing newsletter articles, press releases, website postings or requests for proposals;
(3) Recommend to the commission education projects, research projects and/or programs for funding;
(4) Recommend to the commission funding amounts based on the fiscal year budget allocation;
(5) Provide guidance and oversight to grantees of funds for education projects, research projects and/or programs.
(G) The division shall:
(1) Provide administrative support to the committee;
(2) Develop and distribute requests for proposals as instructed by the committee;
(3) Provide tracking information on funded programs and projects, budget information and other demographic and/or statistical information requested by the committee.
Effective: 03/26/2007
R.C. 119.032 review dates: 12/22/2006 and 06/30/2011
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.03, 4735.06, 4735.09
Prior Effective Dates: 11/13/2003