OHIO REAL ESTATE 2026 UPDATED SCRIPT EXAM
QUESTIONS AND ANSWERS GRADED A+
✔✔Personal Property - ✔✔All the property that can be owned and that does not fit the
definition of real property. Distinction: personal property is movable.
✔✔Bundle of Legal Rights - ✔✔1. Right of possession
2. Right to control the property within the framework of the law.
3. Right of enjoyment.
4. Right of exclusion.
5. Right of disposition.
✔✔Appurtenance - ✔✔A right or privilege associated with the property, although not
necessarily a part of it...ie, parking spaces in multi unit buildings, easements, water
rights, & other improvements.
✔✔Real Property - ✔✔Real estate plus "bundle of legal rights"
✔✔Fixture - ✔✔Is personal property that has been so affixed to land or a building that,
by law, it becomes part of the real estate.
✔✔Real Estate - ✔✔Land plus permanent human-made additions.
✔✔Factors Affecting Demand - ✔✔1. Demographics
2. Population
3. Employment
4. Wage Levels
✔✔Land - ✔✔Earth's surface to the center of the Earth & the airspace above the land,
including the trees & water.
✔✔Types of Real Property - ✔✔1. Residential
2. Commercial
3. Mixed-Use
4. Industrial
5. Agricultural
6. Special Purpose
✔✔Factors Affecting Supply - ✔✔1. Labor force
2. Construction & material costs
3. Government controls
, 4. Government financial policies
✔✔OAR - ✔✔Ohio Association of Realtors
Adheres to The Canon of Ethics
✔✔Brokerage - ✔✔The business of bringing people together in a real estate
transaction.
✔✔NAR - ✔✔National Association of Realtors
Adheres to The Code of Ethics
✔✔Superintendent of Real Estate - ✔✔The administrator of the real estate license law
ORC 4735 & OAC 1301:5 & 1301:11 & may issue any orders of the commission or any
other orders necessary for carrying the law's provisions into effect.
✔✔ORC & OAC - ✔✔Ohio Revised Code & Ohio Administrative Code
✔✔Antitrust Violations (49) - ✔✔1. Price fixing
2. Group boycotting
3. Allocation of customers
4. Allocation of markets
5. Tie-In Agreements
✔✔Ohio Real Estate Commission (62) - ✔✔Consists of 5 members who are appointed
for a 5 year term. 4 members must have 10 years experience as brokers. 1 member
represents the public.
✔✔E-Sign - ✔✔Electronic signatures in global & national commerce act
✔✔UETA - ✔✔Uniform electronic transactions act -
Uniform Electronic Transactions Act. Adopted by 48 states. Among other things,
declares that a signature may not be denied legal effect or enforceability solely because
it is in electronic form
✔✔Referral Fees (43) - ✔✔Fees paid between brokers for leads. *Unlawful for a broker
to pay commission to anyone not licensed with the broker. This applies to both
salesman & brokers under the said broker.*
✔✔Transactional Broker (45) - ✔✔Helps the buyer & the seller with the necessary
paperwork & formalities involved in transferring ownership of real property. The buyer &
seller negotiate the sale w/o representation. *Transactional brokers are not permitted
under Ohio law.*
QUESTIONS AND ANSWERS GRADED A+
✔✔Personal Property - ✔✔All the property that can be owned and that does not fit the
definition of real property. Distinction: personal property is movable.
✔✔Bundle of Legal Rights - ✔✔1. Right of possession
2. Right to control the property within the framework of the law.
3. Right of enjoyment.
4. Right of exclusion.
5. Right of disposition.
✔✔Appurtenance - ✔✔A right or privilege associated with the property, although not
necessarily a part of it...ie, parking spaces in multi unit buildings, easements, water
rights, & other improvements.
✔✔Real Property - ✔✔Real estate plus "bundle of legal rights"
✔✔Fixture - ✔✔Is personal property that has been so affixed to land or a building that,
by law, it becomes part of the real estate.
✔✔Real Estate - ✔✔Land plus permanent human-made additions.
✔✔Factors Affecting Demand - ✔✔1. Demographics
2. Population
3. Employment
4. Wage Levels
✔✔Land - ✔✔Earth's surface to the center of the Earth & the airspace above the land,
including the trees & water.
✔✔Types of Real Property - ✔✔1. Residential
2. Commercial
3. Mixed-Use
4. Industrial
5. Agricultural
6. Special Purpose
✔✔Factors Affecting Supply - ✔✔1. Labor force
2. Construction & material costs
3. Government controls
, 4. Government financial policies
✔✔OAR - ✔✔Ohio Association of Realtors
Adheres to The Canon of Ethics
✔✔Brokerage - ✔✔The business of bringing people together in a real estate
transaction.
✔✔NAR - ✔✔National Association of Realtors
Adheres to The Code of Ethics
✔✔Superintendent of Real Estate - ✔✔The administrator of the real estate license law
ORC 4735 & OAC 1301:5 & 1301:11 & may issue any orders of the commission or any
other orders necessary for carrying the law's provisions into effect.
✔✔ORC & OAC - ✔✔Ohio Revised Code & Ohio Administrative Code
✔✔Antitrust Violations (49) - ✔✔1. Price fixing
2. Group boycotting
3. Allocation of customers
4. Allocation of markets
5. Tie-In Agreements
✔✔Ohio Real Estate Commission (62) - ✔✔Consists of 5 members who are appointed
for a 5 year term. 4 members must have 10 years experience as brokers. 1 member
represents the public.
✔✔E-Sign - ✔✔Electronic signatures in global & national commerce act
✔✔UETA - ✔✔Uniform electronic transactions act -
Uniform Electronic Transactions Act. Adopted by 48 states. Among other things,
declares that a signature may not be denied legal effect or enforceability solely because
it is in electronic form
✔✔Referral Fees (43) - ✔✔Fees paid between brokers for leads. *Unlawful for a broker
to pay commission to anyone not licensed with the broker. This applies to both
salesman & brokers under the said broker.*
✔✔Transactional Broker (45) - ✔✔Helps the buyer & the seller with the necessary
paperwork & formalities involved in transferring ownership of real property. The buyer &
seller negotiate the sale w/o representation. *Transactional brokers are not permitted
under Ohio law.*
