Chapter 12 of 1510% of exam
State Governance
Ohio establishes a regulatory structure to oversee real estate licensees. Understanding who governs the profession is foundational.
Regulatory Structure
The Ohio Division of Real Estate and Professional Licensing, within the Department of Commerce, administers license law and rules. The Ohio Real Estate Commission adopts rules and hears disciplinary matters. Together they set and enforce standards of practice.
Enforcement and Discipline
The Division investigates complaints and can impose discipline including fines, suspension, or revocation for violations. Grounds include fraud, misrepresentation, and mishandling of trust funds. The Ohio Real Estate Recovery Fund may compensate certain consumers harmed by licensee misconduct.