What is the maximum penalty the Ohio Real Estate commission can impose?
If the commission finds that a violation has occurred, the commission may assess a civil penalty, in an amount it determines, not to exceed one thousand dollars per violation. Each day a violation occurs or continues is a separate violation. The commission shall determine the terms of payment.
What is the maximum fine that can be imposed on a licensee for violations of the Ohio Revised Code?
A licensee may be fined up to $2,500 by the Commission for each violation of the Ohio Revised Code. There is no limit to the amount of fines that the Commission can levy.
How much time does an Ohio brokerage audit typically take?
2) How long will the audit last? Compliance audits can last anywhere from a few hours to several days, depending on the size of the brokerage. Most single office brokerage audits take just a few hours.
What does the Ohio Real Estate commission have the regulatory power to do?
As such, the real estate commission has the authority to implement and enforce real estate licensing laws. … Enforce licensing laws and take disciplinary action against licensees who have been found in violation, including revoking their ability to practice licensed real estate activities in a respective jurisdiction.
How are Ohio Real Estate commission members selected?
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. … All vacancies which occur shall be filled in the manner prescribed for the regular appointments to the commission.
Who oversees all sales activity in the state of Ohio?
The Ohio Division of Real Estate and Professional Licensing is a part of the Ohio Department of Commerce; the Division is the official licensing agency for all 45,000 real estate licensees in Ohio.
When using Internet Advertising Ohio licensees must update information How soon after it becomes outdated or expires?
(E) Information on an internet website maintained by a licensee which becomes outdated or expired, shall be updated within fourteen days of the information becoming outdated or expired. Each website maintained by a licensee shall disclose the date upon which the information contained therein was most recently updated.
What type of ownership interest does an Ohio real estate licensee need to disclose in writing to all parties?
Ownership interest, including direct or indirect interest of the licensee or an immediate family member, must be disclosed in writing to all parties to the transaction.
Who determines whether an Ohio complaint should proceed to a formal hearing?
A complaint is a prerequisite to any formal action on the part of the Ethics Commission and, if not frivolous, shall be the basis of a hearing by the Commission. R.C. 102.06.
How are property values determined in Ohio?
Appraised values should equal 100% of market value. However, assessed values in Ohio – the amounts on which property taxes are based – are calculated at 35% of appraised value. So, for example, if your property is worth $100,000, your assessed value should be $35,000.
Who collects property taxes in Ohio?
Directory of county auditors — Primary responsibility for the assessment of real estate for tax purposes is local, resting with auditors working in Ohio’s 88 counties.