Ohio License Law
Which of the following activities requires a real estate license in Ohio?
ASelling your own home
BManaging your own rental properties
CNegotiating a lease for another person for compensation✓ Correct
DGiving a neighbor advice about listing their home
Explanation
Negotiating a lease for another person for compensation constitutes real estate brokerage under ORC 4735 and requires a license. Selling your own property and managing your own rentals are exempt.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
EasementA non-possessory right to use another person's land for a specific purpose.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
State-Specific Concepts
License Law
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