Local Government News
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...
Schmidt Introduces Legislation to Set Statewide Standards for Real Estate Representation Agreements
State Rep. Jean Schmidt (R-Loveland) has introduced House Bill 466, legislation aimed at establishing minimum standards for real estate representation agreements in Ohio. The bill seeks to ensure that written representation agreements between real estate brokerages and clients include specific provisions regarding representation terms and commission structures.According to Schmidt, the standards outlined in House Bill 466 are crucial for enhancing transparency and clarity in real estate transactions. She stated, "This important bill will improve transparency and promote...