Ohio Revised Code Chapter 4735 - Real Estate Brokers

• Section 4735.01 - Real Estate Broker Definitions.
  As used in this chapter: (A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or...
• Section 4735.02 - Requirement Of License.
  (A) Except as provided in section 4735.022 of the Revised Code, no person, partnership, association, limited liability company, limited liability partnership, or corporation shall...
• Section 4735.021 - Contracts - Fees.
  (A) Every licensee who is engaged in the business of referring prospective tenants to possible rental units or locations and who charges the prospective...
• Section 4735.022 - Nonresident Commercial Brokers And Salespersons.
  (A) An out-of-state commercial broker, for a fee, commission, or other valuable consideration, or in the expectation, or upon the promise of receiving or...
• Section 4735.03 - Ohio Real Estate Commission - Powers And Duties.
  There is hereby created the Ohio real estate commission, consisting of five members who shall be appointed by the governor, with the advice and...
• Section 4735.04 - Subpoena Power.
  The Ohio real estate commission or the superintendent of real estate may compel, by order or subpoena, the attendance of witnesses to testify in...
• Section 4735.05 - Organization Of Commission - Confidentiality.
  (A) The Ohio real estate commission is a part of the department of commerce for administrative purposes. The director of commerce is ex officio...
• Section 4735.051 - Investigating Complaints.
  (A) Within five business days after a person files a signed written complaint against a licensed real estate broker or licensed real estate salesperson...
• Section 4735.052 - Civil Penalty.
  (A) Upon receipt of a written complaint or upon the superintendent's own motion, the superintendent may investigate any person that has allegedly violated section...
• Section 4735.06 - Broker's License Application.
  (A) Application for a license as a real estate broker shall be made to the superintendent of real estate on forms furnished by the...
• Section 4735.07 - Broker's Examination - License Qualifications.
  (A) The superintendent of real estate, with the consent of the Ohio real estate commission, may enter into agreements with recognized national testing services...
• Section 4735.08 - Conditions For Issuing License.
  The superintendent of real estate shall issue a real estate broker's license when the superintendent is satisfied that: (A) An applicant who is not...
• Section 4735.09 - Salesperson's Application - License Qualifications.
  (A) Application for a license as a real estate salesperson shall be made to the superintendent of real estate on forms furnished by the...
• Section 4735.091 - [Repealed].
  Effective Date: 10-20-1999
• Section 4735.10 - Administrative Rules.
  (A) (1) The Ohio real estate commission may adopt reasonable rules in accordance with Chapter 119. of the Revised Code, necessary for implementing the...
• Section 4735.11 - License Form And Size.
  The form and size of licenses issued under this chapter shall be prescribed by the Ohio real estate commission. Each broker's or foreign real...
• Section 4735.12 - Real Estate Recovery Fund.
  (A) The real estate recovery fund is hereby created in the state treasury, to be administered by the superintendent of real estate. Amounts collected...
• Section 4735.13 - Definite Place Of Business Required; Display And Care Of Licenses.
  (A) Every real estate broker licensed under this chapter shall have and maintain a definite place of business in this state. A post office...
• Section 4735.14 - License Term; Notice Of Change Of Address; Notice Of Renewal.
  (A) Each license issued under this chapter, shall be valid without further recommendation or examination until it is placed in an inactive or resigned...
• Section 4735.141 - Continuing Education.
  (A) Except as otherwise provided in this division and in section 4735.13 of the Revised Code and except for a licensee who has placed...
• Section 4735.142 - License On Permanently Resigned Status.
  (A) Any person licensed under section 4735.07 or 4735.09 of the Revised Code, at any time prior to the date the licensee is required...
• Section 4735.15 - Fees.
  (A) The nonrefundable fees for reactivation or transfer of a license shall be as follows: (1) Reactivation or transfer of a broker's license into...
• Section 4735.16 - Sign On Business Premises; Advertising.
  (A) Every real estate broker licensed under this chapter shall erect or maintain a sign on the business premises plainly stating that the licensee...
• Section 4735.17 - License For Nonresidents.
  Licenses may be issued under sections 4735.01 to 4735.23 of the Revised Code, to nonresidents of this state and to foreign corporations, subject to...
• Section 4735.18 - Disciplinary Actions.
  (A) Subject to section 4735.32 of the Revised Code, the superintendent of real estate, upon the superintendent's own motion, may investigate the conduct of...
• Section 4735.181 - Sanctions For Noncompliance With Statutory Requirements - Disposition Of Fines.
  (A) No real estate broker or salesperson licensed pursuant to this chapter shall fail to comply with divisions (B) or (D) of section 4735.13,...
• Section 4735.182 - Fee Instrument Returned Unpaid - Additional Fee - Sanctions.
  If a check or other draft instrument used to pay any fee required under this chapter is returned to the superintendent unpaid by the...
• Section 4735.19 - Records Of Commission.
  The Ohio real estate commission shall keep a record of its proceedings and, upon application of an interested party, or upon its own motion...
• Section 4735.20 - Commissions, Fees, Or Other Compensation.
  (A) Except as provided in divisions (B), (C), and (G) of this section, no licensed real estate broker or licensed foreign real estate dealer...
• Section 4735.21 - Right Of Action - Limits On Salespersons.
  No right of action shall accrue to any person, partnership, association, or corporation for the collection of compensation for the performance of the acts...
• Section 4735.211 - Division Of Real Estate Operating Fund.
  All fines imposed under section 4735.051 of the Revised Code, and all fees and charges collected under sections 4735.06, 4735.09, 4735.13, 4735.15, 4735.25, 4735.27,...
• Section 4735.22 - [Repealed].
  Repealed by 128th General AssemblyFile No.9, HB 1, §105.01, eff. 10/16/2009.
• Section 4735.23 - [Repealed].
  Repealed by 128th General AssemblyFile No.9, HB 1, §105.01, eff. 10/16/2009.
• Section 4735.24 - Earnest Money To Be Maintained In Special Account.
  (A) Except as otherwise provided in this section, when earnest money connected to a real estate purchase agreement is deposited in a real estate...
• Section 4735.25 - Dealing In Foreign Real Estate.
  (A) (1) No person, other than an actual bona fide owner selling for the owner's own account in a single transaction and not by...
• Section 4735.26 - Refusing To Qualify Foreign Real Estate.
  (A) If the superintendent of real estate has refused to qualify any foreign real estate under section 4735.25 of the Revised Code, or has...
• Section 4735.27 - Foreign Real Estate Dealer's License.
  (A) An application to act as a foreign real estate dealer shall be in writing and filed with the superintendent of real estate. It...
• Section 4735.28 - Foreign Real Estate Salesman's License.
  (A) An application to act as a foreign real estate salesman shall be in writing and filed with the superintendent of real estate. It...
• Section 4735.29 - Renewals.
  The license of every foreign real estate dealer and salesman shall expire on the thirty-first day of December of each year, and may be...
• Section 4735.30 - False Representations Of Material Or Relevant Facts.
  No person shall knowingly make or cause to be made any false representation concerning a material and relevant fact, in any oral statement or...
• Section 4735.32 - Investigations.
  (A) (1) The Ohio real estate commission or the superintendent of real estate may commence, at any time within three years from the date...
• Section 4735.33 - Effect Of Child Support Default On License.
  On receipt of a notice pursuant to section 3123.43 of the Revised Code, the superintendent of real estate shall comply with sections 3123.41 to...
• Section 4735.51 - Agency Relationship - Disclosure Definitions.
  As used in sections 4735.51 to 4735.74 of the Revised Code: (A) "Agency" and "Agency relationship" mean a relationship in which a licensee represents...
• Section 4735.52 - Scope Of Chapter.
  The types of agency relationships permitted in a real estate transaction are determined by the provisions of this chapter. Except to the extent the...
• Section 4735.53 - Agency Relationships Permitted.
  (A) The types of agency relationships a licensee may establish in a real estate transaction are limited to the following: (1) An agency relationship...
• Section 4735.54 - Written Company Policy For Types Of Agency Relationships For Brokerage.
  Each brokerage shall develop and maintain a written company policy that sets forth the types of agency relationships that members of that brokerage may...
• Section 4735.55 - Written Agency Agreements.
  (A) Each written agency agreement shall contain all of the following: (1) An expiration date; (2) A statement that it is illegal, pursuant to...
• Section 4735.56 - Written Brokerage Policy On Agency Required - Disclosure To Client.
  (A) Each brokerage shall develop a written brokerage policy on agency to be given to prospective sellers and purchasers in accordance with divisions (C)...
• Section 4735.57 - Agency Disclosure Statement - Dual Agency Disclosure.
  (A) The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule an agency disclosure statement. The...
• Section 4735.58 - When Disclosure Statements To Be Provided.
  (A) (1) A licensee who is a purchaser's agent or a seller's subagent working with a purchaser shall present the agency disclosure statement described...
• Section 4735.59 - Changing The Party A Licensee Represents.
  To change the party a licensee represents in a real estate transaction after an agency disclosure statement has been signed and dated or following...
• Section 4735.60 - Licensee Representing Purchaser Disclosures.
  A licensee representing a purchaser shall do the following: (A) Disclose to the licensee representing the seller, or if the seller is not represented,...
• Section 4735.61 - Prohibiting False Information.
  No licensee shall knowingly give false information to any party in a real estate transaction. Effective Date: 12-13-1996
• Section 4735.62 - Fiduciary Duties Generally.
  In representing any client in an agency or subagency relationship, the licensee shall be a fiduciary of the client and shall use the licensee's...
• Section 4735.621 - Waiver Of Fiduciary Duties.
  (A) The duties required of a licensee under section 4735.62 of the Revised Code may not be waived by a client. (B) A licensee...
• Section 4735.63 - Representing Seller In Agency Relationship - Duty To Promote Interests Of Client.
  (A) In representing a seller in an agency relationship, a licensee shall : (1) Seek a purchase offer at a price and with terms...
• Section 4735.64 - Representing Seller In Agency Relationship - Prohibited Acts.
  In representing a seller in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the seller:...
• Section 4735.65 - Representing Buyer In Agency Relationship - Duty To Promote Interests Of Client.
  (A) In representing a purchaser in an agency relationship, a licensee shall: (1) Seek a property at a price and with purchase or lease...
• Section 4735.66 - Representing Buyer In Agency Relationship - Prohibited Acts.
  In representing a purchaser in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the purchaser:...
• Section 4735.67 - Disclosures To Purchaser.
  (A) A licensee shall disclose to any purchaser all material facts of which the licensee has actual knowledge pertaining to the physical condition of...
• Section 4735.68 - Liability For False Information.
  (A) A licensee is not liable to any party for false information that the licensee's client provided to the licensee and that the licensee...
• Section 4735.69 - Assisting Party Who Is Not A Client.
  (A) A licensee may assist a party who is not the licensee's client in a real estate transaction by doing any of the following:...
• Section 4735.70 - Dual Agency Definitions.
  The following are dual agents under this chapter: (A) A licensee who represents both the purchaser and the seller as clients in the same...
• Section 4735.71 - Dual Agency - Disclosure Statement.
  (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...
• Section 4735.72 - Dual Agency - Brokerage And Management Level Licensees.
  (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...
• Section 4735.73 - [Repealed].
  Effective Date: 01-01-2005
• Section 4735.74 - Duties Following Closing Of Transaction.
  Unless otherwise agreed in writing, a licensee owes no further duty to a client after performance of all duties or after any contract has...
• Section 4735.75 - Authorization Of Other Brokers By Exclusive Agent.
  (A) A broker who has the exclusive authority to represent a client under a written exclusive agency agreement, exclusive right to sell agreement, or...
• Section 4735.76 - Compliance With Law Regarding Sanctions For Human Trafficking.
  The superintendent of real estate shall comply with section 4776.20 of the Revised Code. Added by 129th General AssemblyFile No.169, HB 247, §1, eff.
• Section 4735.99 - Penalty.
  (A) Whoever violates section 4735.02, 4735.021, or 4735.22 of the Revised Code is guilty of a misdemeanor of the first degree. (B) Whoever violates...

Last modified: October 10, 2016