Ohio Revised Code Search

..., and (G) of this section, no licensed real estate broker or licensed foreign real estate dealer shall pay a commission, fee, or other compensation for performing any of the acts specified in section 4735.01 of the Revised Code to any person who is not a licensed real estate broker or a licensed real estate salesperson or to any person who is not a licensed foreign real estate dealer or a licensed foreign real...

...tion, or corporation was licensed as a real estate broker or foreign real estate dealer. Nothing contained in this section shall prevent a right of action from accruing after the expiration of a real estate or foreign real estate license if the act giving rise to the cause of action was performed by a licensee prior to such expiration. No real estate salesperson or foreign real estate salesperson shall collec...

...de, except such fees as are paid to the real estate recovery fund as provided in this chapter, shall be paid into the state treasury to the credit of the division of real estate operating fund, which is hereby created. Operating expenses of the division of real estate shall be paid from the division of real estate operating fund. The division of real estate operating fund shall be assessed a proportionate share of...

...If a real estate broker or real estate salesperson provides the name of a home inspector to a purchaser or seller of real estate, the broker or salesperson shall provide the buyer or seller with the names of at least three home inspectors. Any home inspector named shall be licensed under Chapter 4764. of the Revised Code. Providing a purchaser or seller of real estate with the names of licensed home inspectors does n...

...At the request of the superintendent of real estate, the department of higher education or the state board of career colleges and schools with respect to an institution that offers a certificate program, may, in consultation with the division of real estate, perform a review of programs offered by an institution of higher education pursuant to division (B)(6)(a) or (b) of section 4735.07 and division (F)(6) of sectio...

...tion, when earnest money connected to a real estate purchase agreement is deposited in a real estate broker's trust or special account, the broker shall maintain that money in the account in accordance with the terms of the purchase agreement until one of the following occurs: (1) The transaction closes and the broker disburses the earnest money to the closing or escrow agent or otherwise disburses the money pursua...

...n any foreign real estate shall file an application with the superintendent of real estate in the form the superintendent prescribes, which application shall set forth the following: (1) An exact description of the foreign real estate sought to be sold, leased, or dealt in; (2) A map or plat prepared by a competent surveyor showing the boundaries and dimensions of the foreign real estate and all lots or subdivision...

...r, after ten days from the order, a new application by the plaintiff for qualification or for a withdrawal of the revocation or suspension. An order in favor of the plaintiff shall not prevent the superintendent, after proper notice and hearing, from subsequently revoking or suspending the qualification for any proper cause which may accrue or be discovered after the order.

...(A) An application to act as a foreign real estate dealer shall be in writing and filed with the superintendent of real estate. It shall be in the form the superintendent prescribes and shall contain the following information: (1) The name and address of the applicant; (2) If the applicant is a partnership, unincorporated association, or any similar form of business organization, the names and the residence and...

...(A) An application to act as a foreign real estate salesperson shall be in writing and filed with the superintendent of real estate. It shall be in the form the superintendent prescribes and shall contain the following information: (1) The name and complete residence and business addresses of the applicant; (2) The name of the foreign real estate dealer who is employing the applicant or who intends to employ th...

...the superintendent of real estate of an application for renewal, and the payment of the fee prescribed in section 4735.15 of the Revised Code, not less than fifteen or more than sixty days before the expiration of the old license. The superintendent may accept an application for renewal less than fifteen days before the expiration of any calendar year. He shall give notice, without unreasonable delay, of his action o...

...curing the qualification of any foreign real estate under section 4735.25 of the Revised Code.

...(A)(1) The Ohio real estate commission or the superintendent of real estate may commence, at any time within three years from the date on which an alleged violation of a provision of this or another chapter of the Revised Code occurred, any investigation that relates to the conduct of a licensed real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, that is ...

...the Revised Code, the superintendent of real estate shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect to a license issued pursuant to this chapter.

...ented by the same licensee for the same property that the licensee knows, has known, or has reason to know will be taken under consideration by the owner or owner's authorized representative during the same period of time. (H) "Dual agency relationship" means any of the dual agency relationships set forth in section 4735.70 of the Revised Code. (I) "In-company transaction" means a real estate transaction in which t...

... of agency relationships permitted in a real estate transaction are determined by the provisions of this Chapter. Except to the extent the duties of a real estate agent are specifically set forth in this chapter, or are otherwise modified by agreement, the duties of a real estate agent are determined by the common law.

...tionships a licensee may establish in a real estate transaction are limited to the following: (1) An agency relationship between the licensee and the seller; (2) An agency relationship between the licensee and the purchaser; (3) A dual agency relationship between the licensee and both the seller and the purchaser; (4) A subagency relationship between the licensee and the client of another licensee. (B) When an a...

...lished by rule by the superintendent of real estate with the approval of the Ohio real estate commission. The development and maintenance of a policy under this section shall not relieve a brokerage from liability for the failure of the brokerage, any licensee of the brokerage, or any employee of the brokerage, to maintain the confidentiality of confidential information of a client. The brokerage shall provide a copy...

...n this section: (1) "Residential real property" has the same meaning as in section 5302.30 of the Revised Code. (2) "Residential premises" and "tenant" have the same meanings as in section 5321.01 of the Revised Code. (B) A licensee shall enter into a written agency agreement before doing any of the following: (1) Advertising or showing residential real property on behalf of a seller; (2) Making an offer to...

...chase or lease a particular real estate property; (2) Requesting specific financial information from the purchaser to determine the purchaser's ability to purchase or finance real estate in a particular price range; (3) Showing the real estate to the purchaser other than at an open house; (4) Discussing, with the purchaser, the making of an offer to purchase or lease real estate; (5) Submitting an offer to pu...

...(A) The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule an agency disclosure statement. The agency disclosure statement shall contain a place for the licensee and the parties to the transaction to sign and date the statement and shall contain sections for the disclosure or explanation of all of the following: (1) Unless confidential, the names of all the p...

... licensee represents the seller in the real estate transaction. The licensee shall provide the agency disclosure statement described in section 4735.57 of the Revised Code to the successful bidder prior to the bidder's signing a purchase contract. (C) Evidence that a licensee has failed to comply with this section constitutes prima-facie evidence of misconduct in violation of division (A)(6) of section 4735.18...

...ge the party a licensee represents in a real estate transaction after an agency disclosure statement has been signed and dated, following verbal disclosure of the agency relationship, or following an agency agreement under section 4735.55 of the Revised Code, the licensee shall obtain written consent from the party originally represented to represent another party in the transaction. The licensee shall promptly notif...

...A licensee representing a purchaser shall do the following: (A) Disclose to the licensee representing the seller, or if the seller is not represented, disclose to the seller, that the licensee represents the purchaser in the transaction. This disclosure shall take place during the first contact the licensee has with any employee or licensee of the brokerage with which the seller's agent is affiliated, or if the sell...

...ive false information to any party in a real estate transaction.