Ralph Mantica President at Ohio REALTORS | Facebook Website
Ralph Mantica President at Ohio REALTORS | Facebook Website
President Ali Whitley Testifies in Support of HB 466 in Senate Committee
By Anastasia Kotkovskaya, Ohio REALTORS Manager, Advocacy and Research
Ohio REALTORS continues to advocate for transparency in the real estate industry as President Ali Whitley testified in support of House Bill (HB) 466 in the Senate Select Committee on Housing.
HB 466 seeks to establish consistent standards for written representation agreements between real estate professionals and their clients, which will enhance clarity and trust in Ohio’s homebuying process. This bill would require licensed real estate professionals to enter into written representation agreements with their clients, ensuring that all parties are fully informed of the services provided and the terms of compensation.
President Whitley shared in her testimony: “HB 466 is an effort to provide some clarity to the changing industry practices. By establishing a statewide standard for all licensed real estate professionals, we ensure everyone is operating under similar rules and guidelines. HB 466 would require written representation agreements to be entered into for all licensed real estate brokers and their clients. It also establishes what would need to be included in these agreements, specifically whether the agreement is exclusive or nonexclusive and that it contains the terms of compensation.”
As HB 466 advances through the Senate committee process, Ohio REALTORS will continue urging its swift consideration and passage.
Read more about this bill:
HB 466 | 135th General Assembly | Ohio Legislature
Ohio House of Representatives Approves Landmark Legislation on Written Agency Agreements
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