Ohio Revised Code Search

...Each brokerage shall develop and maintain a written company policy that sets forth the types of agency relationships that members of that brokerage may establish. The policy shall include provisions on whether any dual agency relationships set forth in section 4735.70 of the Revised Code are permitted. The policy shall also set forth procedures to ensure the protection of confidential information, and to ensure that ...

...s used in 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 ...

...(A) Each brokerage shall develop a written brokerage policy on agency to be given to prospective sellers, tenants, and purchasers in accordance with this section. (B) The brokerage policy on agency described in division (A) of this section shall include all of the following information: (1) An explanation of the permissible agency relationships available under section 4735.53 of the Revised Code and the duties t...

...(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...

...r's subagent working with a purchaser shall present the agency disclosure statement described in section 4735.57 of the Revised Code to the purchaser and request the purchaser to sign and date the statement no later than the preparation of an offer to purchase or lease, or a written request for a proposal to lease. The licensee shall deliver the statement signed by the purchaser to the seller's agent, or to the...

... 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 notify ...

...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...

...No licensee shall knowingly give false information to any party in a real estate transaction.

... subagency relationship, the licensee shall be a fiduciary of the client and shall use the licensee's best efforts to further the interest of the client including, but not limited to, doing all of the following: (A) Exercising reasonable skill and care in representing the client and carrying out the responsibilities of the agency relationship; (B) Performing the terms of any written agency agreement; (C) Fol...

...e waived by a client. (B) A licensee shall perform the duties required under section 4735.63 or 4735.65 of the Revised Code unless the client agrees to waive these duties, and signs a waiver of duties statement pursuant to division (C) of this section. (C) The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule a waiver of duties statement that shall contain ...

...in an agency relationship, a licensee shall: (1) Seek a purchase offer at a price and with terms acceptable to the seller. Unless the seller so directs, the licensee is not obligated to seek additional offers if the property is subject to a contract of sale, lease, or letter of intent to lease; (2) Accept delivery of and present any purchase offer to the seller in a timely manner, even if the property is subject to...

...n an agency relationship, no licensee shall do either of the following without the knowledge and consent of the seller: (A) Extend an offer of subagency to other licensees; (B) Offer compensation to a broker who represents a purchaser.

...in an agency relationship, a licensee shall: (1) Seek a property at a price and with purchase or lease terms acceptable to the purchaser. Unless the client so directs, the licensee is not obligated to seek additional purchase or lease possibilities if the purchaser is a party to a contract to purchase property, or has entered into a lease or has extended a letter of intent to lease. (2) Within the scope of knowledg...

...n an agency relationship, no licensee shall do either of the following without the knowledge and consent of the purchaser: (A) Extend an offer of subagency to other licensees; (B) Accept compensation from a broker who represents a seller.

...(A) A licensee shall disclose to any purchaser all material facts of which the licensee has actual knowledge pertaining to the physical condition of the property that the purchaser would not discover by a reasonably diligent inspection, including material defects in the property, environmental contamination, and information that any statute or rule requires be disclosed. For purposes of this division, actual knowledg...

...censee is not liable to any party for false information that the licensee's client provided to the licensee and that the licensee in turn provided to another party in the real estate transaction, unless the licensee had actual knowledge that the information was false or acted with reckless disregard for the truth. (B) No cause of action shall arise on behalf of any person against a client for any misrepresent...

...who is not the licensee's client in a real estate transaction by doing any of the following: (1) Providing information regarding lenders, inspectors, attorneys, insurance agents, surveyors, draftspersons, architects, schools, shopping facilities, places of worship, and other similar information; (2) Providing market information or other information obtained from a property listing service or public records. (B) A ...

...The following are dual agents under this chapter: (A) A licensee who represents both the purchaser and the seller as clients in the same real estate transaction; (B) A brokerage that represents both the purchaser and the seller as clients in the same real estate transaction; (C) A management level licensee who represents a client in an in-company transaction. If there is more than one management level licensee aff...

...(A) No licensee or brokerage shall participate in a dual agency relationship described in section 4735.70 of the Revised Code unless both the seller and the purchaser in the transaction have full knowledge of the dual representation and consent in writing to the dual representation on the agency disclosure statement described in section 4735.57 of the Revised Code. Before a licensee obtains the consent of any p...

...es in a brokerage in which there is a dual agency relationship described in section 4735.70 of the Revised Code shall do each of the following: (1) Objectively supervise the affiliated licensees in the fulfillment of their duties and obligations to their respective clients; (2) Refrain from advocating or negotiating on behalf of either the seller or the purchaser; (3) Refrain from disclosing to any other employee ...

...r duty to a client after performance of all duties or after any contract has terminated or expired, except for both of the following: (A) Providing the client with an accounting of all moneys and property relating to the transaction; (B) Keeping confidential all information received during the course of the transaction unless: (1) The client permits disclosure; (2) Disclosure is required by law or by court o...

...y with that client. The authorization shall be in writing and the broker shall comply with the requirements of section 4735.621 of the Revised Code. (B) A licensee who negotiates directly with a seller, purchaser, lessor, or tenant pursuant to a written authorization as described in division (A) of this section does not violate division (A)(19) of section 4735.18 of the Revised Code and negotiations conducted by a l...

...The superintendent of real estate shall comply with section 4776.20 of the Revised Code.

...(A) The superintendent of real estate shall, within one year after April 3, 2025, adopt rules in accordance with Chapter 119. of the Revised Code that require a licensee, prior to listing residential real estate for sale, exchange, or purchase, to provide to the seller a disclosure form, developed and maintained by the division of real estate, that outlines both of the following: (1) The federal and state laws that...

...may impose upon the offender an additional fine of not more than two thousand five hundred dollars.