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Rep. Brennan Announces Passage of HB 466 by Ohio House of Representatives

May 20, 2024
Sean P. Brennan News

COLUMBUS – State Reps. Sean Patrick Brennan (D-Parma) and Jean Schmidt’s (R-Loveland) bill, House Bill (HB) 466, has passed the House of Representatives with an 88-1 vote.

“This bill promotes transparency and protects all parties involved in the homebuying process. It will be especially helpful to new homebuyers by educating them on the various aspects of the transaction” said Rep. Brennan.  “I am honored to join Rep. Schmidt on this very important and needed legislation.” 

 The bipartisan legislation establishes minimum standards for written real estate representation agreements between real estate professionals and homebuyers.

"Ohio REALTORS is thrilled with the passage of House Bill 466,” said Ali Whitley, Ohio REALTORS President. “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."  

“As a full time realtor for almost 20 years I'm excited to see this bill passed into law and feel it will help improve transparency in the homebuying process and give clearer understanding of the service being provided by the real estate broker and realtor and the commission structure. I'm excited to see this change and feel that consumers will appreciate it as well,” added Michelle Green, a Parma Realtor.

Under this legislation, parties will be required to enter into a written representation agreement before a seller may show a property or a buyer may make an offer to purchase a property. 

Written representation agreements must include the following: 

  • An expiration date;
  • Information on fair housing and blockbusting laws;
  • Whether the relationship is exclusive or nonexclusive; and
  • Terms of compensation.

HB 466 now heads to the Ohio Senate for consideration.