Asset Management & Recovery: Ohio Auction Law - New NAA Update

The National Auctioneers Association recently updated the License Law summary for the State of Ohio.  if you want to find more information on the rules and regulations of conducting a real estate auction in your state, go to www.auctioneers.org.  You can also use this website to find a qualified real estate auctioneer to assist you with the process.

Ohio Department of Agriculture
Division of Enforcement
8995 East Main Street, Building 1
Reynoldsburg, Ohio 43068
Phone: 614-728-6240
Fax: 614-728-6328
Email: auctioneer@mail.agri.state.oh.us
http://www.ohioagriculture.gov/auction

• An auctioneer's license is required for the state of Ohio. Biennual [every two years] license fee is $200 for an auctioneer or special auctioneer. Auction Firm license fee is $100.00 annually.
• Requirements for license applicants : (1) good reputation, (2) trustworthy character, (3) attained the age of at least 18 years, (4) done one of the following: met the apprenticeship requirements set forth in Section 4707.09 of the Revised Code, or met the requirements of Section 4707.12 of the Revised Code, (5) has a general knowledge of the following: the requirements of the Revised Code relative to auctioneers, the auction profession and the principles involved in conducting an auction. Before an apprentice may take the auctioneer's license, he/she must serve a licensed auctioneer apprenticeship of at least 12 months; successfully complete a course of study in auctioneering at an institution approved by the state auctioneers commission, and conduct, as a bid caller, at least 12 auctions under the direct supervision of the sponsoring licensed auctioneer. Applicants may also be licensed if they are licensed in a state that has a reciprocity agreement with Ohio.
• Exceptions to license requirements : Sales at auction conducted by or under the direction of any public authority, or sales required by law to be at auction other than sales pursuant to a judicial order or decree and the owner of any real or personal property desiring to sell the property at auction, provided that the property was not acquired for the purpose of resale. Auction mediation Co. are exempt and internet auctions are exempt. Sales that are a part of an approved course of study, fair auctions as long as a licensed auctioneer is used, licensed livestock dealers selling livestock exclusively as long as they use a licensed auctioneer, and licensed automobile auctions exclusively selling motor vehicles as long as they use a licensed auctioneer.
• An auctioneer must hold a real estate license if he/she will be calling bids and/or handling any aspect of a real estate auction, including the closing.
• The state of Ohio requires applicants to pass an examination . Exams are administered four times per year for an auctioneer and 12 times per year for apprentice. Examination fees are $25 for an auctioneer and $15 for an apprentice and firm managers..
• A person must be a licensed real estate broker or real estate salesperson and licensed auctioneer to enter into an auction contract to sell real property at auction. The bid caller must be a licensed auctioneer or apprentice licensed as a real estate broker or salesperson.
• A person must hold an auctioneer's license to call bids at a real estate auction. However, an auctioneer's license is not required to handle other aspects of a real estate auction, such as closing.
• Ohio has reciprocal agreements with Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia.
• The required bond amount for Ohio is $25,000 for an auctioneer or an apprentice and $50,000 for a one-time auction.
• The state of Ohio does not require continuing education.
• New Licenses: Auctioneer; corporation, partnership, or association and auction firm.