Our next office meeting will be on Tuesday, October 2nd at 10:00am..

posted Sep 24, 2018, 12:31 PM by Brian G. Walsh   [ updated Sep 24, 2018, 12:31 PM ]

Please bring your win for the month and any challenges you are facing.  Thanks, BGW

Do email and text messages need to be part of your transaction file?

posted Sep 15, 2018, 5:18 AM by Brian G. Walsh   [ updated Sep 15, 2018, 5:18 AM ]

Sep 10, 2018

By Peg Ritenour, Ohio REALTORS Vice President of Legal Services/Administration

Communications with clients, REALTORS and other professionals are routinely conducted via email and text messaging. And it’s not just simple messages like setting up appointments or scheduling showings. Agents are engaging in contract negotiations, communicating material information, and making disclosures via text. Often those emails and text messages contain important information and establish a timeline that may be relevant in the event a lawsuit or complaint with the Division is filed against you. And moreover, the Ohio Division of Real Estate and Professional Licensing considers your license law responsibility to maintain records to include emails and text messages that are related to a transaction.

Section 4735.18 of the Ohio Revised Code outlines the conduct for which a licensee can be disciplined by the Ohio Real Estate Commission. Among these is “having failed to keep complete and accurate records of all transactions for a period of three years from the date of the transaction, such records to include copies of listing forms, earnest money receipts, offers to purchase and acceptances of them, and any records of receipts and disbursements of all funds received by him as broker and incident to his transactions as such, and any other instruments or papers related to the performance of any of the acts set forth in the definition of a real estate broker.”

The Division interprets this section very broadly to include a duty to maintain emails and text messages relative to a transaction or even a potential transaction. Therefore to avoid possible disciplinary action, including a license suspension, it is important for licensees to maintain these in their file for the mandatory three year period.

Another issue that arises with respect to record keeping is the question of who is obligated to maintain the complete record of the transaction -- the agent involved in the sale or lease or the agent’s broker? According to the Division the answer is both. Under Ohio license law the Division considers record keeping to be a duty that is imposed on the broker, as well as the agent. Therefore while a salesperson may have the complete record of a transaction, it is equally important for the brokerage to maintain these documents as well. In some instances the agent may leave the brokerage and take their records with them, leaving the broker with incomplete files on the agent’s transactions.  This can put the broker in non-compliance and at risk of disciplinary action by the Division.

It is also important to note that the license law does  not mandate that original documents be maintained by either the agent or broker. Copies are sufficient. Moreover, the Division does permit records to be maintained electronically, as long as they can be produced in an accurate and legible form in the event of an audit or investigation.

As mentioned above, the license law imposes a three year record retention period. However in some instances, licensees may want to retain certain records for longer. More information on this issue can be found in the legal section of ohiorealtors.org

Legal articles provided in the Ohio REALTORS Buzz are intended to provide broad, general information about the law and is not intended to be legal advice. Before applying this information to a specific legal problem, readers are urged to seek advice from an attorney.

REMINDER: MLS training at office this Monday, 9/10 at 1:30PM..

posted Sep 5, 2018, 11:24 AM by Brian G. Walsh   [ updated Sep 5, 2018, 11:24 AM ]

Laura Graber will back..!  Thanks, BGW

Our next Office Meeting will be on Tuesday, September 4th at 9:30am (please notice start time)..

posted Aug 21, 2018, 4:12 PM by Brian G. Walsh   [ updated Aug 21, 2018, 4:14 PM ]

We are starting a half hour early because Jina Miller with America's Preferred Home Warranty will be opening with a small presentation and Q&A's.  Following I will cover my thoughts on future growth of the company as well as other considerations I have been pondering since being in charge of front desk and spending above average hours at the office.  Shortly before 11:00am you will get a chance to meet our new receptionist Tien Baldwin who will be working sporadic hours for the first month (probationary period) as I get systems set up and start to get her trained and will then be working M - F from 11:00am - 4:00pm.   For those of you who can't make it I will get information to you afterward.  Thanks, BGW

Recent Cuyahoga County Tax re-assessment town hall meeting with Auditor..

posted Aug 21, 2018, 1:40 PM by Brian G. Walsh   [ updated Aug 21, 2018, 1:42 PM ]

SPECIAL NOTICE TO WESTSHORE AREA RESIDENTS

The City of Rocky River is pleased to publicize that County Councilperson Nan Baker has announced that Cuyahoga County Auditors will be available to assist Westshore area residents with any questions on their recent property valuations.

The event will be held on Thursday, August 23, 2018 from 11:00 a.m. to 7:00 p.m. at the Don Umerley Civic Center, located at 21016 Hilliard Blvd., Rocky River 44116, adjacent to Rocky River City Hall.

No appointment is necessary.

Appointment of Agent form..

posted Aug 13, 2018, 10:59 AM by Brian G. Walsh   [ updated Aug 13, 2018, 1:05 PM ]

Good day:  In the Agency section of Documents at our website you will find a form called: Appointment of Agent.  When you are having another agent handle your work the State requires that we have this completed by your client(s).  If you have any questions regarding this please let me know.  Thank you.

Listing documentation has been updated to include new warranty and..

posted Aug 7, 2018, 6:31 PM by Brian G. Walsh   [ updated Aug 7, 2018, 6:31 PM ]

a few other changes you will notice.  I set up listing agreement so you only need have second page signed as it is page numbered.  While working with these new forms and packets please let me know if you run in to any issues.  Thanks, BGW

IMPORTANT! New purchase contract and home warranty with fee increase now in service..

posted Aug 7, 2018, 3:41 PM by Brian G. Walsh   [ updated Aug 7, 2018, 3:44 PM ]

I have updated all of the above documents and packets to include these new forms at our website.  I have also updated the Docusign templates to recognize them.  I still have to update the listing packets with the new warranty but the warranty applications have been updated in our forms in the meantime.  Please take the time to read below about our new contract and read the contract as well.  It is a home run!  Less to fill in, less pages and less redundant language.  It should make things easier all the way around!  BGW

Escrow agent language added (highlighted on attached)
Building code or health violations amended (highlighted on attached)
C.A.U.V. language has been removed
Line numbers
5 pages instead of 6
Walk through provision built in (removes another page)
Cyber security language added in bold (removes another page)
No initial/date spots at bottom of first 4 pages (pages referenced so only need sigs and date on page 5)
Other places initials removed
Slightly larger margins
Easier to read font
Less language
Seller closing cost contribution language added
Rent back language cleaned up: PLEASE KEEP IN MIND THIS RENT BACK PROVISION IS WORDED "IF NEEDED"
Secondary offer language removed
Inspection:
Costs assumed responsibility of buyer
Check Yes only (no check No)
Language bolded speaking to buyer about inspections
Provision added that adds 5 days to inspection period and additional inspections if recommendations for additional inspections are called for.  PLEASE DO NOT ADD THE LANGUAGE CALLING FOR ADDITIONAL INSPECTIONS ANYMORE AS THIS TAKES CARE OF IT AND WE DON'T WANT TO SUPERSEDE LANGUAGE IN CONTRACT.
3 day response period to seller starts at the completion of last inspection (instead of after each inspection)
Additional option to negotiate costs or reduce sales price after inspection
Terminating due to inspection made easier.
Mutual release after 4 days instead of 3, after reviewing with counsel we need to leave this as is.

Office Meeting today at 10:00am at office..

posted Aug 7, 2018, 4:48 AM by Brian G. Walsh   [ updated Aug 7, 2018, 4:49 AM ]

We have our office meetings every first Tuesday of the month at 10:00am.   I did not post today's but we are on if you can make it.  Thanks, BGW

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