2022 Ohio Real Estate Salesperson Exam Lesson 1

This is the 1st sample lessons that we will be sharing with you which will help you prepare for the Ohio real estate salesperson exam.

These Ohio real estate salesperson exam lessons are meant to be a supplement and not a substitute for classroom learning or other requirements of the Ohio real estate department for licensure.

The Full Table of contents may be found HERE

Real Estate Governing Bodies

Regulated by two agencies: the Ohio Real Estate Commission and the Ohio Division of Real Estate

The Real Estate Commission
• Five member appointed by the governor
• Four are active real estate agents with 10+ years of experience
• One non-real estate professional who represents the public
• No more than three members can be from one political party.
• Each member serves for five years.

Duties of the Commission
• Create the Code of Ethics for real estate professionals
• Reviews any appeals
• Administers the real estate education/research fund
• Notifies licensees of changes to state/federal laws

Duties of the Ohio Division of Real Estate
• Led by the Superintendent of Real Estate
• The Superintendent is appointed by the Director of Commerce for an indefinite term from an approved list of six people
• Carry out state law
• Administer exams
• Review records
• Enforce license laws
• Grant, refuse and revoke licenses

Disciplinary Actions
• Misrepresentations
• Dual agency without disclosure
• Mishandling of funds
• Compensates an unlicensed person with a commission
• Hiding a criminal conviction
• Practicing real estate without a license
• Practicing real estate while impaired
• Discrimination
• Commingles funds
• Breaking fiduciary duties
• Charges hidden fees

Complaints are heard by the Ohio Division of Real Estate

Licensed Activities
• Sales
• Exchanges
• Purchases
• Loan negotiation
• Advertising real property
• Offers
• Listing
• Rentals

Unlicensed Activities
• For sale by owner
• Property manager employed by an owner
• Trustee
• Public servants on official business
• Power of attorney
• Court appointees
• Employees of financial institutions

If you are looking for other Real Estate audio Lessons we have them for:

You May also be interested in passing the SIE Exam

Beginning in October 2018 the SIE Exam is a new regulatory exam that will allow candidates to demonstrate their mastery of the essentials of the financial industry. The exam will cover the foundational knowledge used in careers in investment banking, wealth management, sales and trading, and more.

The SIE exam is a prerequisite for many of the FINRA licensing exams including the Series 7 Exam.

This is a big change from the current exam structure, which requires individuals to be employed and sponsored by a FINRA-registered firm before taking an industry qualification exam.

For the other states lessons we offer check out our webpage