Home » Articles posted by Kristin Rosan, Madison & Rosan, LLP | Hondros College Contributor

Posts By: Kristin Rosan, Madison & Rosan, LLP | Hondros College Contributor

Complaints on Real Property Valuation

Blog, Real Estate, Resources

Property owners that believe their property is worth less than the value assessed by the County Auditor, can file a complaint on the property valuation. The property valuation is used to determine the amount of property taxes an owner pays. Thus, if the property valuation is too high, then the owner is unnecessarily paying higher… Read more

Momentum to Increase Commission Transparency

Blog, Real Estate

The Consumer Federation of American (CFA) has released a report, which estimates only 32% of Americans know a typical commission for a real estate agent. The CFA is an association of non-profit consumer organizations aiming to advance consumer interests through research, advocacy and education. The CFA report studied 263 agent/broker websites in four cities, included… Read more

Background Check Requirement Added to Real Estate Licensure Applications

Blog, Real Estate

Applicants for a real estate salesperson or broker’s license must now complete a background check as part of the application process. The requirement also extends to those “upgrading” their licenses (i.e. from salesperson to broker) and applicants for an appraisal registration, license or certification, but does not include those licensees transferring, renewing or activating their… Read more

What the MLS Clear Cooperation Policy means for Off-Market Listings

Blog, Real Estate, Resources

The National Association of Realtors (NAR) has adopted a rule change that will require all members to submit their listings to the multiple listing service (MLS) within one business day of marketing the listing to the public. The rule change was prompted by MLS members hoping to generate more exposure in the marketplace for listings,… Read more

Division Delays Home Inspector Licensing

Blog, Home Inspection, Real Estate

In a statement issued October 11, 2019, the Division of Real Estate advised that it will not enforce the November 1, 2019 licensing deadline for new home inspectors. The Ohio Home Inspector Program will be on hold until the Division adopts new administrative rules for the program, which are currently pending. The administrative rules, a… Read more

Using Broker Lien Law to Protect Commissions

Blog, Real Estate

Commercial Brokers have an added tool available for them to collect an outstanding commission. Ohio’s Broker Lien Law allows a broker to file an affidavit creating a lien against an owner’s property for the amount owed. The lien can then be foreclosed or paid when title transfers to a buyer. The amount of the lien… Read more

Appellate Court Affirms Revocation of Salesperson’s License

Blog, Resources

The Tenth District Court of Appeals has affirmed an order of the Ohio Real Estate Commission revoking a real estate salesperson’s license (“Licensee”). By way of background, the Licensee and a friend (“Friend”) entered into an agreement whereby a company owned by the Licensee would bid at a tax foreclosure sale on Friend’s property. The… Read more

Ohio Department of Commerce Issues Fiscal Year 2019 Report

Blog, Real Estate

The Ohio Department of Commerce has issued its annual report for fiscal year 2019. As the state’s chief regulatory agency, Commerce regulates more than 6,000,000 licensees and regulated entities. One of Commerce’s Divisions is the Division of Real Estate and Professional Licensing. The report details several new programs the Division gained authority over during the… Read more

Updates to Home Inspection Rules

Blog, Home Inspection, Real Estate

UPDATED SEPTEMBER 12, 2019: As of Thursday, September 5th, 2019,  the Home Inspection Board approved the draft of the Ohio Administrative Rules for the state of Ohio and will be available for public comment. For the latest news regarding the home inspector program, visit the Department of Commerce’s Division of Real Estate & Professional Licensing website…. Read more

Division of Real Estate Releases Mid-Year Discipline Summaries

Blog

The Division of Real Estate has released discipline summaries for enforcement cases before the Real Estate Commission from January through May of 2019. During the first five months of this year, the Commission revoked 9 licenses and issued some combination of suspensions, fines, and education against 15 licensees. The Commission also issued civil fines against… Read more

Navigating the Statute of Frauds

Blog, Real Estate

Generally, a statute of frauds is a law that requires certain types of contracts to be in writing and signed by the parties. Although laws vary from state to state, it is nearly universal that contracts involving the sale of real estate have to be in writing. If the contract is not in writing, then… Read more

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