Ohio Revised Code Search

...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.

... 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...

...(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...

...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.

...g in a timely manner for all moneys and property received in which the client has or may have an interest; (I) Keeping confidential all confidential information, unless the licensee is permitted to disclose the information pursuant to division (B) of section 4735.74 of the Revised Code. This requirement includes not disclosing confidential information to any licensee who is not an agent of the client.

...his 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 the following: (1) The fiduciary duties required of all licensees under section 4735.62 of the Revised Code; (2) A list of those duties contained in section 4735.63 or 4735.65 of the Revised Code, which shall be set forth in a manner that ...

...igated 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 a contract of sale, lease, or letter of intent to lease; (3) Within the scope of knowledge required for licensure, answer the seller's questions and provide information to the...

...In representing a seller in 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.

...tionship, 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 knowledge required for li...

...In representing a purchaser in 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.

...r 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 affiliated with the brokerage and either of the following applies, the management level licensee is n...

...(A) The brokerage and management level licensees 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) ...

...(A) A broker who has the exclusive authority to represent a client under a written exclusive agency agreement, exclusive right to sell agreement, or exclusive purchaser agency agreement may authorize other licensees to negotiate directly 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 dire...

...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...

...(A) Whoever violates section 4735.02 or 4735.021 of the Revised Code is guilty of a misdemeanor of the first degree. (B) Whoever violates section 4735.25 or 4735.30 of the Revised Code is guilty of a felony of the fifth degree, and the court may impose upon the offender an additional fine of not more than two thousand five hundred dollars.

...(A) There is hereby created the real estate appraiser board, consisting of five members appointed by the governor, with the advice and consent of the senate. Four members shall be persons certified or licensed under this chapter, at least two of whom shall hold a state-certified general real estate appraiser certificate, and one of whom shall be an owner, controlling person, or management-level employee of an apprai...

...tion to any other duties imposed on the real estate appraiser board under this chapter, the board shall: (1) Adopt rules, in accordance with Chapter 119. of the Revised Code, in furtherance of this chapter, including, but not limited to, all of the following: (a) Defining, with respect to state-certified general real estate appraisers, state-certified residential real estate appraisers, and state-licensed residenti...

...The real estate appraiser board or the superintendent of real estate may compel, by order or subpoena, the attendance of witnesses to testify in relation to any matter over which the board or the superintendent has jurisdiction and which is the subject of the inquiry and investigation by the board or superintendent, and require the production of any book, paper, or document pertaining to such matter. For such p...

... for an initial state-certified general real estate appraiser certificate, an initial state-certified residential real estate appraiser certificate, an initial state-licensed residential real estate appraiser license, or an initial state-registered real estate appraiser assistant registration in writing to the superintendent of real estate on a form the superintendent prescribes. The application shall include the add...

...e Revised Code to the superintendent of real estate. The renewal application shall include a statement, signed by the certificate holder, registrant, or licensee, that the certificate holder, registrant, or licensee has not been convicted of or pleaded guilty to any criminal offense described in division (H)(2) of section 4763.05 of the Revised Code since the issuance or renewal of the individual's most recent certif...