Ohio Real Estate Brokerage Management Responsibilities

(3.0 hour Proposed CE Outline)

Presenter: Cynthia A. Lammert, Esq. 

(rev. 9.16.24)

 

1.    Statutory obligations for Ohio real estate brokers and management 

(H.B. 532, effective April 6, 2017) (10 minutes)

• Ohio Division of Real Estate compliance considerations
• Audits
• Investigations

 

2.    Overseeing and directing brokerage operations (45 minutes)

• What does supervision entail?
• Civil liability considerations and respondeat superior
• Broker obligation to ensure that licensees are providing real estate services within their level of competency or working with another licensee who possesses such competency
• Policies relating to licensed and unlicensed activity, including compensation-related issues

 

3.    Physical office requirements (10 minutes)

• Advertising
• Postings, including as to fair housing, and supplying fair housing pamphlets

 

4.    Renewing brokerage and branch office licenses (10 minutes) 

 

5.    Hiring, paying, and terminating licensees (30 minutes)

• independent contractor agreements, including advisable scope and content

 

6.    Complying with trust and/or special bank account requirements (10 minutes)

 

7.    Maintaining transaction records and documents (10 minutes)

 

8.    Brokerage Consumer Guide to Agency Relationships (10 minutes)

 

9.    Brokerage Company Policy on Agency (10 minutes)

• Identifying brokers and management licensees within a brokerage
• Delegating duties

 

10.    NAR settlement and new Ohio laws relating to agency agreements (20 minutes)

 

11.    Ensuring compliance with advertising requirements, including teams (15 minutes)

 

11.    Time permitting

• • Recent claims/risk management considerations
  • Questions and answers

Sponsored by Shannon Lower of Cross Country Mortgage - The Dobbert Team