Under Ohio law, how long must a broker maintain records of real estate transactions?
Correct Answer
A) 3 years
Ohio law requires brokers to maintain transaction records for a minimum of 3 years after the transaction closes or the listing expires. These records must be available for inspection by the Division of Real Estate.
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More Oh Division Of Re Rules Disciplinary Process Questions
An Ohio salesperson places a 'For Sale' sign on a listed property. Under Ohio Division rules, the sign must include:
An Ohio salesperson wants to advertise a property she is selling as a FSBO (For Sale By Owner) since she owns the property. Under Ohio rules:
An Ohio salesperson creates a magnetic car sign advertising her real estate services. The sign includes her photo, name, and phone number but not the brokerage name. This sign:
An Ohio broker wants to advertise that his brokerage sold '$50 million in real estate last year.' Under Ohio advertising rules, this claim:
In Ohio, when a listing expires and the property is no longer listed with the brokerage, what must the agent do with any existing advertising?
- → An Ohio broker wants to advertise using the nickname 'Tom the Realtor' instead of his legal name. Under Division rules:
- → An Ohio salesperson places an ad in a local newspaper for a listed property. The minimum information that MUST appear in the ad under Ohio Division rules is:
- → An Ohio salesperson wants to include her professional designations (e.g., 'CRS, ABR') in her advertising. Under Division rules, this is:
- → Under Ohio Division rules, all real estate advertising by a salesperson must include:
- → In Ohio, an advertisement for a listed property must NOT contain:
- → An Ohio salesperson includes the phrase 'Licensed Ohio Real Estate Agent' in all of her advertising. Under Division rules, this phrase is:
- → An Ohio salesperson wants to host an open house for a listing. The open house signs and directional arrows she plans to use must include:
- → Under Ohio advertising rules, all of the following would constitute a violation EXCEPT:
- → An Ohio broker operates under the registered business name 'Premier Real Estate Group.' One of his salespersons advertises using the name 'Premium Realty Associates.' The Division would MOST likely consider this:
- → An Ohio brokerage acquires another brokerage and all of its listings. The acquiring brokerage has a different name. Regarding the advertising of the acquired listings, the new brokerage must:
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A consumer files a complaint against an Ohio real estate agent alleging misrepresentation. Under Ohio's disciplinary process, what is the typical sequence of events?
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An Ohio broker operates three branch offices in addition to the main office. Under Ohio Division rules, each branch office must: