Between the critics who have promulgated accusations of real estate price-fixing and conspiracy, and the brokers who have long championed industry ethics and practices, there has been little room for agreement. But at least one thing appears to unite these two groups, according to RISMedia’s latest Broker Confidence Index (BCI).
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It’s not too easy to get a license. It’s too easy to keep it. Online CE has diluted the learning process. It’s about nothing other than getting the credits. Period. We need classroom training and we need the states to actually enforce the laws.
The entry level isn’t the real problem. Yes, it should be a little harder, however the real issue is the system allows freshly licensed agents to pretty much opperate without real supervision. Many of the high agent count companies create this problem and of course let’s not forget the ever popular “rent-a-broker”. I won’t go into who that describes as I think almost anyone reading this knows the answer. Let’s tighten up the loose threads and help clean up the mess.
Perhaps the brokers also need more training so they properly train their agents.
Some states do not require that one have a high school education. This, at the least, should be a requirement before beginning real estate education. New, or provisional, agents/brokers should be more closely guided. This is a requirement that is too often not occurring.
It’s more than just low entry levels … Brokers / Brokerages are the real problem. Most will hire anyone that fogs a mirror, give a 100% split with little to no training, support or Broker oversight. Teams led by wanna be brokers and offices with low level “sales person managers” have watered down the business to where it is today… and that is most agents are nothing more than glorified door openers. It’s blind leading the blind.
You nailed it perfectly. Nearly everything the brokers identified in this article is fixable by them, but they don’t care. As long as they get fresh garbage agents, who they won’t train, who will agree to sign on to absurd splits, and who will sell half a dozen properties to their friend and relatives in their first year, take rental clients more experienced agent don’t want, and will be chewed up and spit out in about three years. Rinse and repeat. Brokers are happy, NAR is happy, the MLSs are happy. Meanwhile the public is screwed, and rarely knows it. The industry deserved the lawsuits, its model is seriously f*ed.
I agree with Shelley Sosnoff , Rodney Elland and Richard Mckinney
The real problem is the Brokers , I have only had one broker in 24 years that could properly instruct you in anything. I found the best advice came from seasoned veterans that had been out there actually doing the job and earning their commissions. Their advice came from experience and time in the field, and if you really talked to them, most of them were just thrown out there and learned by trial and error. Some were lucky enough like me to have a seasoned veteran take interest in them and guide them along. I think that’s the biggest problem, no guidance after licensing, more time to get a license is not going to fix that. My mentor and friend was Jerry Bartlett, I thought it only right that I give him the credit that he deserves. He loved the Real Estate Business.