Broker Properties Real Without In Ohio
Description
Form popularity
FAQ
In Ohio, real estate wholesaling doesn't require a license if the wholesaler is acting as the principal buyer—meaning they put the property under contract with the intention to resell it. However, licensing may be required if the wholesaler's activities resemble those of a real estate agent, such as the following.
All complaints must be delivered to: Ohio Division of Real Estate and Professional Licensing, Enforcement Section, 6606 Tussing Rd, PO Box 4008, Reynoldsburg, OH 43068 or emailed to Licenseplaints@com.ohio.
An Ohio real estate license is required to perform many activities related to real estate, including property management.
To become a real estate agent in Ohio, you must complete 180 classroom hours of courses covering complex material such as real estate law and real estate finance. In addition, you must pass a course and licensing exam.
A new Ohio law effective today drastically changes how Ohio real estate licensees represent clients, including when a prospective buyer wants to view a residential property. Licensees are now obligated to enter into a written agency representation agreement with a buyer before they can show a property to a buyer.
You are required to obtain a real estate broker's license or act under a broker with a license in Ohio if your wholesaling practice constitutes actions as described in the above Ohio Revised Code Section 4735.01(A).
Ohio law permits unlicensed staff to perform the following services on behalf of the broker: Routine maintenance. Clerical or administrative tasks. Collecting rent and/or security deposits (checks should be made payable to the real estate brokerage or landlord)
