By Jeff McKinney
Enquirer staff writer

A new form that real estate agents say will help consumers better understand their relationship with their agent will be among the topics at the Ohio Association of Realtors annual convention and trade show downtown starting Sunday.

About 1,600 real estate agents, brokers and industry professionals from across the state - expected to attend the convention through Wednesday - will be eager to hear about the updated version of the Ohio real estate disclosure law, industry executives say.

Another big topic around the Sabin Cincinnati Convention Center will be the creation of a task force that will study how proposed tax issues could affect Ohio's record-breaking home sales market. And the strength of that market is certain to come up in conversations.

The state Legislature approved changes to the disclosure law, signed by Gov. Bob Taft, that go into effect Jan 1 and will include a new brochure-type form that will streamline paperwork dealing with the relationship between a Realtor and a buyer or seller.

The new rules allow some forms to be signed closer to a closing.

"For consumers, the revisions are not as cumbersome and don't appear to look more like a contract as they do currently," said Ron Bisher, a Realtor at Cagney, Weisker & Associates in Bridgetown. "For Realtors, it will help them more clearly show clients their options and see homes they want to buy faster."

Home buyers' burden

The new task force will look at various Ohio tax issues, including school funding and the state budget, and determine their impact on the real estate market.

In 2003, the Ohio real estate industry avoided some tax measures proposed by Taft, including taxes on such things as commissions and property management services and fees on property appraisals, home inspections, title services and other services.

If passed, Realtors estimate those proposals would have generated $417 million in new taxes for the state but would have increased the cost of housing when the fees were passed on to consumers.

"Our hope with the task force is to come up with practical solutions to offset ever-rising tax burdens faced by Ohio's home and business owners, including a more equitable way of funding schools without an over-reliance on property taxes," said Carl Horst, a spokesman for the Realtors' association.

More homes available

The booming housing market, which is on track to break last year's home-sales records in the United States, Ohio and in the region, also will be a hot topic among real estate agents.

Locally, real estate executives predict 2004 homes sales will remain on pace to beat the previous record of 30,673 set last year in Greater Cincinnati.

They say all of the factors that have fueled sales - relatively low mortgage interest rates, no dramatic increases in home prices and a strong demand for homes - remain in place.

But one thing that has changed in the local housing market is the number of homes available.

There were 11,598 homes available for sale, mainly in Southwest Ohio, in July, up 17.1 percent from 9,906 in July 2003, according to the Multiple Listing Service of Greater Cincinnati.

Bob Stanley, president of Coldwell Banker West Shell in Kenwood, one of the region's largest residential real estate firms, said agents at his firm are encouraging sellers to be more cautious about pricing.

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E-mail jmckinney@enquirer.com