State Rep. Jean Schmidt | The Ohio House of Representatives
State Rep. Jean Schmidt | The Ohio House of Representatives
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 agents, as well as the commission structure.
“This bill will directly improve the homebuying process and help Ohioans achieve the goal of homeownership,” remarked Schmidt during the hearings, emphasizing the potential benefits the bill could bring to residents of Ohio.
House Bill 466 is currently pending further examination by the House Civil Justice Committee as it progresses through the legislative process.
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