HER, REALTORS® Ranked #1 in Ohio Again in 2020
We’ve received a lot of praise this year. Here’s why!
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We’ve been hard at work here at HER, REALTORS® this past year, and all of our efforts to help families find their dream homes all around Ohio have paid off! We’re not usually one to toot our own horn, but these accomplishments are something worth celebrating. While we’re at it, we thought it might be nice to also let you in on a few secrets of what all of this Realtor jargon actually means.
Without further ado, here’s what we’ve achieved in 2020 and how we got here:
One of the Nation’s Real Estate Brokerages with the Biggest Footprints
It’s a mouthful, we know. But essentially, what this means is that HER, REALTORS® have quite a bit of reach within the real estate world. With 83 offices in Ohio alone, we clock in at #10 among the nation’s Realtors with the biggest footprints. In Ohio, we rank #1. Now that’s what we call an accomplishment! But what does this all mean? We’re here to break it down.
What is RISMedia?
RISMedia has been building itself up to become the leading source for news and information relevant to the real estate industry since 1980. Anyone in the field who wants to know what they can do better to be productive and successful in the real estate industry always looks to see what RISMedia is up to.
As an unbiased source, they offer news on the real estate market, as well as information on the best real estate practices and top contenders in the field to help people who are still learning their way around figure out what they should be doing to give themselves a competitive edge. Their blog and newsletter bring current news on a regular basis.
The thing that most Realtors get excited for, however, is the annual Power Broker Report and Survey, which is the most comprehensive report in all of the real estate industry. In it, they rank more than 1,000 brokerages in the United States based on things like transaction sides and sales volume to determine who has been the most successful in a given year. Our national #10 ranking came from this very report!
In any sale of a home, there are considered to be two transaction sides: that of the seller and that of the buyer. For Realtors, this means that when they work with clients on the transaction of a home, they will be working as either the buying agent or the selling agent. In some cases, they will be both. Essentially, each transaction where they act as an agent earns them “points” to be tallied up at the end of the year.
In accounting terms, the simplest definition of sales volume is the sum price of homes that are sold within a specific reporting period. Similar to the number of times Realtors act as agents earning points, the number of units that are sold within a certain reporting period also earn points to be tallied up at the end of the year.
We ranked in the top 500 nationally by volume in the RISMedia Power Broker Survey!
Out of the top 500 Realtors ranked in this year’s Power Broker Report, HER, REALTORS® was named 42nd by nationally closed transactions. We were also named the #1 Ohio Brokerage in this same report! That’s not too shabby in our book.
What is a power broker?
A power broker is sort of like the Instagram Influencer of the business world. They help to set trends that will ultimately influence the business decisions that other parties within their field will make. Because the role of a power broker is one that you only ever really see in the private business sector, most of their work occurs as a result of their personal and professional connections. Power brokers are masters of networking - and it shows when you see the kind of influence that they can have on an industry as a whole.
The influence a power broker brings to their industry can range anywhere from establishing new legislative rules and regulations that every member of that industry will have to abide by, to working with individual companies to help them better understand what they can do to be successful in their field. In most cases, a power broker already understands the ins and outs of their industry when they begin working in it, and they are able to do their job so effectively because of their experience.
Within the world of real estate, the power broker has probably worked as a Realtor for several years, which means they’ve seen the patterns of the housing market ebb and flow for long enough that they can accurately predict what is and isn’t effective for a real estate company. They’re familiar with the kinds of homes that buyers are drawn to, and they work closely with companies to help them successfully make the kinds of pitches that will earn them a spot on the RISMedia Power Broker Report.
We ranked high when it comes to closed transactions!
According to a report done by Real Trends, HER, REALTORS® was ranked #1 in Ohio and #42 in the entire country for the most closed transactions on homes this past year. When we say we’ve been busy, we mean it! Our agents have put countless hours into helping both Ohio natives and people who are just now venturing into the state find homes fit for families of all sizes - and it certainly shows. Ranked #42 out of 500 and the top in our home state? We’ll take that.
A lot goes into making a sale on a house, so getting to see the hard work of everybody here at HER, REALTORS® pay off is a great feeling for us. Transactions take a bit more than just signing some documents to transfer the deed into your name.
We work closely with our clients’ lawyers, as well as our own, to make sure that everyone is well-protected when it finally comes time for us to close the transaction. From there, we move on to having the house appraised. This ensures that the buyers we’re working with aren’t being asked to pay more than the house is worth when we complete the sale. Next come the inspections - both for the structure of the house and pest control.
Anything that is found to be less than satisfactory to someone who’s been trained in the profession of inspections is another thing that could alter the final price of the house. No one wants to move into a house that they thought was perfect for them, only to discover that it has a termite infestation. Inspections help to protect against that.
Once inspections have been completed, the buyers and sellers usually come to an agreement on the price, final contracts are drafted, buyers will apply for a loan, they’ll do a final walk-through of their new home, and the sale will close. All-in-all, there’s a lot that goes on behind the scenes of every transaction we close, so we’re proud to see our company being recognized as one of the best in the country.
It’s been a busy year for us here at HER, REALTORS®. We love the work we do, so we always hope that shows. Based on the rankings that have come out of this year’s RISMedia Power Broker Report, as well as the Real Trends Report, Columbus CEO's Best of Business, and Cbus Top Picks -- we’d say we’re doing alright!