Ohio Prep Book (Kindle) - Ohio Specific Section

Question 1

What does Ohio law state about the timing of when a licensee must deliver copies of all agreements?

Answer 1

Ohio law does not set a specific TIME limit on the agreements in terms of hours or days, but DOES state clearly that copies of all agreements must be placed in the hands of all involved parties at the time they are executed

Question 2

What must be done any time the information a licensee supplies regarding rentals is not current or accurrate?

Answer 2

The licensee must repay or refund the full fee to the prospective tenant upon demand

Question 3

In the case of an out-of-state commercial broker working with an Ohio broker, it is the responsibility of the Ohio broker to retain ALL documentation provided, and any records in relation to all transactions for ___ years from the date the documentation was provided or from when the transaction occurred.

Answer 3

3

Question 4

For a licensee in Ohio to advertise his own property for sale, lease, or exchange, what must be clearly identified in the advertisement?

Answer 4

His name and licensed status

His broker’s name and licensed status