Ohio House of Representatives Approves Landmark Legislation on Written Agency Agreements
A victory for Ohio Realtors and homebuyers, House Bill 466 has successfully passed the floor of the Ohio House of Representatives. This legislation proposes to standardize written representation agreements in the industry, encouraging transparency and clarity in Ohio real estate transactions.
Ohio Realtors have advocated every step of the way for this vital bill, recognizing the importance of establishing clear guidelines and expectations between real estate professionals and their clients. HB 466 ensures that all parties are fully informed of the services provided by real estate brokerages and the terms of compensation, promoting trust and confidence in the homebuying process.
President Ali Whitley shares:
"Ohio REALTORS is thrilled with the passage of HB 466. Establishing a statewide standard for the use of written agreements will improve transparency within the home buying process by informing the consumer of the services to be provided as well as the commission structure. We commend Rep. Schmidt and Rep. Brennan on their work on this important issue and look forward to continuing to make the American dream of homeownership possible for consumers in Ohio."
HB 466 now moves forward to the next step of the legislative process in the Ohio Senate. Ohio Realtors will continue to engage in advocacy efforts in committee and work to ensure that this bill moves forward in becoming law.
Read more about this bill:
Legislation standardizing written representation agreements pass house committee
Ohio House introduces real estate representation legislation
