Appointed by the Governor to 5-year staggered terms.
Who administers the Real Estate License Law in Ohio?
Regulating Real Estate Professionals. The Division of Real Estate and Professional Licensing is part of the Ohio Department of Commerce. This division is responsible for licensing Ohio’s real estate brokers, salespeople, appraisers and foreign real estate dealers and salespeople.
Who appoints people to the Ohio Real Estate commission?
There is hereby created the Ohio real estate commission, consisting of five members who shall be appointed by the governor, with the advice and consent of the senate.
Which Ohio department or division is responsible for managing and administering Real Estate licensing functions?
Ohio Division of Real Estate & Professional Licensing Home Page.
Who administers the Ohio Real Estate Recovery Fund?
The fund is managed by the Ohio Division of Real Estate and is also guarded by the Ohio Attorney General’s Office. The two government offices are responsible for reviewing claims, protecting the funds from being misused, and distributing funds in the event that a valid complaint is approved.
Which agency or department does the Superintendent of Real Estate oversee in Ohio?
The Superintendent is charged with overseeing the Ohio Division of Real Estate.
How do I become a commercial real estate agent in Ohio?
To obtain a license in the state of Ohio to become a real estate broker a person needs to have at least two years of experience as a salesperson, complete eight classroom components, have a minimum of two years of college, and pass an exam. For detailed description of license requirement please click here.
What does the Ohio Division of Real Estate and Professional Licensing create?
The Division of Real Estate and Professional Licensing is part of the Ohio Department of Commerce. This division is responsible for licensing Ohio’s real estate brokers, salespeople, appraisers and foreign real estate dealers and salespeople.
Which of the following do an Ohio salesperson an individual broker and a corporate broker have in common?
Which of the following do an Ohio salesperson, an individual broker, and a corporate broker have in common? Each is considered a licensee. You just studied 10 terms!
What are the duties of the Ohio Real Estate Commission?
Ohio Real Estate Commission
Commissioners set licensing requirements, make rules concerning licensees, handle complaints about violations of state laws and regulations and suspend and revoke licenses. Commissioners also certify courses for continuing education credit and oversee the special Recovery Account.
Which position do the members of the Ohio real estate Commission choose from their numbers?
Ohio real estate commissioners elect one member to serve as commission president. They also elect a vice president. The Ohio Real Estate Commission is responsible for creating and implementing real estate canons of ethics for all licensees in Ohio.
Which role is responsible for overseeing business operations at an Ohio brokerage?
Under Ohio license law a principal broker has a duty to oversee the activities of the licensees affiliated with the brokerage.
Which of the following entities doesn’t actually create Ohio real estate licensing laws or rules but enforces them?
Which of the following entities doesn’t actually create Ohio real estate licensing laws or rules, but enforces them? The Ohio commission produces consumer information on housing, and also on what to do if consumers are dissatisfied with the service received from a real estate professional.
What is the Ohio real estate Recovery fund maximum per licensee liability?
(D) Notwithstanding any other provision of this section, the liability of the fund shall not exceed forty thousand dollars for any one licensee.
How is the real estate Recovery fund funded?
The California Real Estate Recovery Fund was established in 1964. It is funded both from a portion of real estate license fees and also from fines collected by the Department of Real Estate (DRE). … If the account’s balance exceeds $3.5 million, any excess in fees collected are credited to a general real estate fund.
What’s true about a real estate complaint mediation agreement in Ohio?
What’s true about a real estate complaint mediation agreement in Ohio? It’s non-binding.