Ohio SB 155: Why a New Law is Triggering aN “Unsolicited Cash Offer" Frenzy RIGHT NOW
Wholesalers have zero legal obligation to be honest about value. Your Realtor® is legally bound to protect you.
If your phone has been blowing up with "all-cash" offers for your home lately, there is a reason for the fever pitch. On March 2nd, Ohio Senate Bill 155 officially goes into effect. This landmark legislation is a win for transparency. It requires "wholesalers" - those faceless companies trying to lock up your home for a quick flip - to provide a written disclosure stating:
They are not representing you.
They intend to sell your contract for a profit.
They may be offering you a price below fair market value.
The Disclosure Loophole
While SB 155 is a step in the right direction, it isn’t a magic wand. The law regulates the disclosure, not the outreach.
Think about it: You receive the text today. You agree to a price tomorrow. You get to the closing table two weeks from now, and in a tall stack of legal documents requiring your signature, there’s one piece of paper with that statement. By then, the momentum is moving, the boxes are packed, and you might just sign where you are told without reading carefully.
The Speed Myth: You Don’t Have to Sacrifice Equity for a Quick Sale
Wholesalers often sell the idea that "speed and convenience" come at a high price—your equity. They want you to believe that a fast, cash closing is only possible if you accept a below-market offer. This simply isn’t an absolute truth in today’s Central Ohio market.
Think of it this way: A wholesaler is like a buyer at a flea market. As long as they provide the required disclosure, they are legally allowed to buy your "vintage watch" for $10 and immediately resell it for $100. Their only legal obligation under SB 155 is to give you a piece of paper admitting that’s their plan.
A Realtor, however, is your personal advocate. If we see you about to sell a $100 watch for $10, we are legally required to stop you and show you its true value.
Why a Fiduciary Still Matters
While a wholesaler’s new duty is simply to disclose their intent to profit, a Realtor’s constant duty is fiduciary. We are legally bound to put your financial interests above our own.
When you work with a professional team like Kenney & Co., you get the best of both worlds:
The Speed You Want: We have access to "ready-to-go" buyers and proven strategies to get you to the closing table, often just as quickly as a wholesaler.
The Value You Deserve: We ensure you aren't sacrificing tens of thousands of dollars in exchange for a "hassle-free" move.
A piece of paper in a closing packet is no substitute for a trusted advocate. If you're considering a move, don't just sign - let us show you how to get a fast closing without sacrificing your hard-earned equity.
Let’s protect your equity together.
Kenney & Co. Group at KW Consultants Realty
Local Roots. Smart Moves. Lasting Wealth.
📍 Based in Central Ohio | Helping Buyers, Sellers, and Investors
Teresa 📞 614-975-8370 📧 teresakenney@kw.com
Sheila 📞 614-264-1800 📧 sheilagibbons@kw.com
Liz 📞 614-517-2268 📧 lizkoehler@kw.com
🌐 kwkenneyandco.com 🌐 teresakenneyrealty.com
See these tactics in action. Knowing the law is one thing, but seeing how these companies actually talk to homeowners is another. Liz recently responded to one of these "all-cash" texts herself to see exactly how they try to fish for equity.
Read Part 1: Liz’s "Undercover" exchange with a Ghost Buyer