New Broker/Agent Guide

       Licensed Brokers and Agents are required to know more and more every day. The Division of Real Estate provides forms and documents to help licensees comply with license law and best of all, it’s free! The links below will allow you to print out a copy of the forms and sections of Ohio Real Estate Law that you may need to stay in compliance.

Agency Agreements (listing and/or buyer agency agreements)

• Requirements; R.C. 4735.55 &  Rule 1301:5-6-04
• Fair housing language
  

Company Policies Required

• Brokerage; R.C. 4735.54  &  Rule 1301:5-6-03
• Agency; R.C. 4735.56  &  Rule 1301:5-6-05
• Model Consumer Guides to Agency Relationships (Agency Policies for Brokerage)

Agency Disclosure

• What it is/How to use it; R.C. 4735.57
• When must be presented to client; R.C. 4735.58  &  Rule 1301:5-6-06
• State mandated Agency Disclosure Statement
• Modification of statement prohibited; Rule 1301:5-6-06(C)
• Exceptions; R.C. 4735.58(D)

Who is a Dual Agent

• Definition; R.C. 4735.70
• Conditions for participation in Dual Agency; R.C. 4735.71

Brokerage Trust Account

• Requirement to maintain; R.C. 4735.18(A)(26)
• Handling of trust funds; Rule 1301:5-5-08
• Maintaining trust account records; Rule 1301:5-5-09
• Sample columnar ledger for brokerage

Property Management Trust Account

• Requirement to maintain; R.C. 4735.18(A)(27)
• Separate from other trust accounts; Rule 1301:5-5-11
• Property management accounts; Rule 1301:5-5-23
• Sample columnar ledger for property management

Payment of Commissions

• To unlicensed person or entity prohibited; R.C. 4735.20(A)  &  R.C. 4735.18(A)(11)
• Undisclosed commissions prohibited; R.C. 4735.18(A)(13)
• To third party creditors of affiliated licensee prohibited; R.C. 4735.20(F)
• Referral Fees; R.C. 4735.20(B)  &  Rule 1301:5-5-06
• To unlicensed corporation of affiliated licensee; R.C. 4735.20(C)
• Commercial Co-broke exemption; R.C. 4735.022
• Sample Operating Account Ledger for payment of commissions to unlicensed entities

Transactional Records

• Requirement to maintain for three years; R.C. 4735.18(A)(24)

General Office Forms & Resources

• Division audit compliance checklist
• Fair housing poster
• Multiple License Transfer Application
• Change Application - Business
• Change Application - Individual
• Home buyers guide
• Residential Property Disclosure Form
• Agency Disclosure Statement

       Thank you for reviewing this information. We hope it is helpful to you and your brokerage. If you need more information or have any questions please contact the Division’s Enforcement section at 614-466-4100.