Navigating the real estate market can be daunting. Choosing the right professional to guide you through the process is crucial. As we close out 2024, the State of Ohio has 4,218 active real estate brokers and 38,162 active real estate agents who are independent contractors working under the required supervision of a licensed real estate broker. This total includes all associate, management, and principal brokers, as well as all active sales agents and those with management designation. While both real estate agents and brokers are licensed to help you with your real estate needs, there are several reasons why opting for a real estate broker is the better choice. Here are the top benefits of choosing a real estate broker over an agent.

Realtor vs. Agent vs. Broker

Before diving into the benefits of choosing a real estate broker, it’s important to understand the differences between a Realtor, an agent, and a broker:

• Real Estate Agent: A licensed professional who assists clients in buying, selling, and renting properties. Agents must work under the supervision of a licensed broker.

• Real Estate Broker: A licensed professional who has completed additional education and licensing requirements beyond those of an agent. Brokers can work independently and supervise agents.
• Realtor: A real estate professional (agent or broker) who is a member of the National Association of Realtors (NAR).

Experience and Expertise of Real Estate Brokers

An Ohio real estate broker possesses a higher level of experience and training compared to an agent. They undergo a more rigorous licensing exam, complete additional coursework, and accumulate years of experience in the real estate industry. This advanced education covers a broader range of topics, including real estate law, ethics, contracts, human resources, and property management. Furthermore, brokers have hands-on experience in various facets of the real estate industry, such as residential, commercial, and investment properties. This diverse experience allows them to provide comprehensive advice and guidance tailored to the specific needs of their clients.

Whether it’s negotiating the best deal, managing complex transactions, or offering strategic insights, a real estate broker brings a level of proficiency that a real estate agent may not possess.

In addition to their expertise, real estate brokers have access to a wider network of industry contacts and resources. This network can be instrumental in finding the right property, securing financing, or resolving any issues that may arise during the real estate transaction process. By leveraging their connections and resources, brokers can streamline the buying or selling process, making it more efficient and less stressful for their clients.

Overall, the combination of advanced training, extensive experience, and a robust network of resources make real estate brokers a superior choice for anyone looking to navigate the complexities of Ohio real estate transactions with confidence and ease.

Higher Level of Service Provided by Brokers: Brokers provide a higher level of service because they have a deeper understanding of real estate laws, contracts, and market trends.

Supervision and Accountability in Real Estate Transactions: Brokers supervise real estate agents, ensuring that transactions are handled professionally and ethically. This added layer of oversight provides peace of mind for clients, knowing that their interests are being protected by a seasoned professional.

Negotiation Skills of Real Estate Brokers: Effective negotiation can make a significant difference in the outcome of your transaction, whether you’re buying or selling. With their extensive experience, brokers possess exceptional negotiation skills, which are beneficial in securing the best deal for their clients.

Access to Resources for Real Estate Brokers: Brokers may subscribe to additional resources, including industry contacts and marketing tools. It’s important to note that there are resources, such as the National Association of Realtors (NAR), Boards of Realtors, and some Multiple Listing Services (MLS), that agents cannot subscribe to unless their broker is already a member. This access can help clients find the best properties or buyers more efficiently, saving time and effort in the process.

For agents to access certain resources, their broker must be a member of specific organizations or platforms. This membership provides agents with access to a wider range of resources and tools to better serve their clients:

• Multiple Listing Service (MLS): Brokers must be members of the MLS for their agents to access MLS listings. The MLS is a crucial resource for real estate professionals, providing comprehensive property listings and market data.
• CREXI: While agents can join CREXI independently, having a broker who subscribes to CREXI can provide additional support and resources for commercial real estate transactions.
• National Association of Realtors (NAR): Membership in NAR is often required for agents to use the Realtor designation and access certain benefits and resources provided by the association.
• Local Real Estate Boards and Associations: Brokers need to join local real estate boards and associations to provide their agents with access to local MLS systems, networking opportunities, and educational resources.

By ensuring that their broker is a member of these organizations, agents can access a wider range of resources and tools to better serve their clients.

Licensing in Ohio: Real Estate Brokers and Agents

In Ohio, as we close out 2024, there are:

• 3,317 Principal Brokers: Own and operate their own real estate brokerage. They are responsible for the actions of the agents, associate brokers, and managing brokers who work under them. Principal brokers ensure that all transactions comply with state laws and regulations, oversee the overall operations of the brokerage, and provide leadership and guidance to their team. They handle the administrative and financial aspects of the business, including marketing, clientrelations, and compliance with legal and ethical standards. By managing the brokerage, principal brokers play a crucial role in maintaining the reputation and success of the firm, ensuring that clients receive the highest level of service and expertise.
• 718 Associate Brokers: Work under a principal broker, benefit from reduced administrative burdens and access to resources.
• 183 Managing Brokers: Supervise agents and oversee office operations, enjoy leadership roles without full ownership responsibilities.
• 37,326 Active Sales Agents: Licensed professionals working under a broker to help clients buy, sell, and rent properties.
• 836 Active Sales Agents with Management Designation: Have additional training and often take on leadership roles within their brokerage.

Conclusion

Given the higher level of expertise, service, and resources that brokers offer, choosing real estate broker over an agent is highly recommended for your real estate needs. Their extensive experience and comprehensive knowledge can make a significant difference in ensuring a smooth and successful transaction.