Reasons to Become a Broker in Ohio

If you’ve worked as a real estate salesperson for two of the last five years, you may ask yourself, “Should I become a real estate broker in Ohio?” Becoming a real estate broker has many benefits that can take your career to new heights. Here are our top five reasons to level up from real estate agent to real estate broker in Ohio.

Key Takeaways

• Brokers earn a higher income than real estate agents.
• Brokers can run their own brokerages.
• Brokers receive better commission splits and management options.
• Brokers can run property management companies.
• The title “broker” is more marketable than “real estate agent.”

Should I Become a Real Estate Broker in Ohio?

Here are some reasons to become a real estate broker.

1. Earn a higher income

Broadening your career options is great, but another popular reason agents become brokers is to make more money. According to the 2023-2024 Ohio Real Estate Salary Guide, the average real estate broker earned $152,300, while the average agent earned $146,147.

2. Run your own brokerage

Of course, you’ll have to become a licensed broker before opening your own brokerage. But once this happens, you can keep all the commissions earned from your transactions. In addition, you can also recruit and hire a team of real estate agents or associate brokers to work under your license and collect desk fees and commission splits.

3. Receive better commission splits and management options

Unlike owning your own brokerage, working as an associate broker could be a great next step in your career. But, with your elevated licensure and expertise, you can often set a higher commission split than other real estate agents. You also may have the opportunity to advance to a management level. This is another excellent way to gain experience without managing your own brokerage.
Having an in-depth understanding of commission splits, especially at this stage, is imperative. Knowing what your options are can significantly boost your path ahead.

4. Run property management companies

Also, separate from owning your own brokerage, having a real estate broker license means you can run your own property management company. You would work as the liaison between the property owner and the tenants who occupy that property. This could make an excellent career path – or an additional revenue stream!

5. Increase your marketing opportunities

The “Broker” title has value! Upon earning your broker’s license, you will see more immediate benefits even if you choose not to run your own business right away. This newly earned education, expertise, and experience can help you acquire new clients. As the holder of a broker license, clients will understand you have completed more training and are more experienced than other real estate agents in their area. This gives you increased marketability!

These benefits, and many more, await you when you earn your broker license. It has never been easier to become a broker than right now! Take your career to the next level today by emailing us at broker@hondros.com or calling 614.350.5748 for a free career evaluation.