Kristin Rosan, Madison & Rosan, LLP | Hondros College Contributor
Articles by Kristin Rosan, Madison & Rosan, LLP | Hondros College Contributor
Complaints on Real Property Valuation
Blog, Real Estate, Resources
December 6, 2019 |
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
November 27, 2019 |
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
What the MLS Clear Cooperation Policy means for Off-Market Listings
Blog, Real Estate, Resources
November 15, 2019 |
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
October 14, 2019 |
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
September 27, 2019 |
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
September 20, 2019 |
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
September 13, 2019 |
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
September 12, 2019 |
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
September 6, 2019 |
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
August 30, 2019 |
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
UPDATED: Licensing Fee Increases and More in New Ohio Budget Bill
Blog, Real Estate
August 21, 2019 |
As part of the 2019-2020 budget, many of the fees the Division assesses to real estate licensees for applications increased. Also included in the budget were changes to fingerprinting requirements for Ohio applicants for licensure and clarification on real estate transactions for medical marijuana. Some of the proposed fee increases are as follows: New Fingerprinting… Read more
