Sales and Broker License Information
Real estate sales agents and brokers are professionals who are licensed to help clients conduct real estate transactions. Both are commonly referred to as agents. The two most common types are residential agents and commercial agents. Residential real estate agents help buyers and sellers in the process of selling or renting residential property. Commercial real estate agents can be sales agents, leasing agents or tenant representation agents.
The major difference between salespersons and brokers are license requirements and level of responsibility for the actual real estate transaction:
Real Estate Sales Agents
Real estate sales agents act as legal agents on behalf of prospective real estate buyers and sellers. Working for a real estate broker, the agent is often the professional that buyers and sellers deal with the most. Agents typically derive their income from commissions paid to their brokers. To obtain a license in the state of Ohio, a person needs to complete four pre-examination education requirements (all four classes are offered by the Fisher Department of Finance), pass an exam and be sponsored by a local licensed broker. There is no experience requirement to become a licensed salesperson. For detailed description of license requirements please click here.
Real Estate Brokers
Real estate brokers facilitate real estate transactions between buyers and sellers. Brokers possess state licenses that allow them to operate their own real estate businesses and employ real estate sales agents. A broker is actually the party being paid a commission upon successful conclusion of a real estate transaction. To obtain a license in the state of Ohio to become a real estate broker a person needs to have at least two years of experience as a salesperson, complete eight classroom components, have a minimum of two years of college, and pass an exam. For detailed description of license requirement please click here.
Located in the Ohio Department of Commerce, the Division offers detailed information about license requirements, where candidates can obtain classroom education, and general guidance through the process. For more information you can visit their website at www.com.ohio.gov/real.
About 70% of all licensed salespersons and brokers in Ohio are members of a professional association called The Ohio Association of Realtors (OAR). OAR offers services to its members in addition to protecting private property rights for the public. Those member services include: lobbying state legislators on industry issues, research development, current real estate information and member discounts on products and services. For more information you can visit their website at http://ohiorealtors.org/.