Local Government News
House Committee Passes Bill to Set Statewide Standards for Real Estate Representation Agreements
The House Civil Justice Committee today passed House Bill 466, legislation to establish minimum standards for written real estate representation agreements, as announced by bill sponsor, State Rep. Jean Schmidt (R-Loveland).According to Schmidt, "It is vital that Ohio establishes standards for these agreements so that both the real estate professional and the buyer have a transparent understanding of the services being provided, compensation, and the responsibilities of both parties."The bill aims to set specific standards for written representation agreements between a...
House Committee Begins Hearings on Bill to Set Statewide Standards for Real Estate Representation Agreements
COLUMBUS—The House Civil Justice Committee initiated hearings on Tuesday regarding House Bill 466, a proposed legislation aimed at establishing statewide standards for real estate representation agreements. The bill's sponsor, State Rep. Jean Schmidt (R-Loveland), made the announcement regarding the committee's proceedings.According to Schmidt, the legislation seeks to mandate the inclusion of essential elements in written representation agreements between real estate brokerages and their clients. These elements include the terms of representation by a brokerage and its...