Ever dream of a perfect business? A business were is everyone wins? That should be real estate. Part 3
Part 3 - First to things I would do, as addressed in Parts 1 and 2, would be to change how agents got a license and second the process they must go through before they could operate independently. Basically, make it much harder and require a apprentice program until the agent learned what it takes to properly represent their client's interest instead of being order takers.
There are great agents in this industry that fight for their client and make it a point to negotiate every detail, but these are too few and too far between. Many others just want the pot-of-gold they see in each commission check.
There needs to be serious ongoing training and a specialization of skills. Currently, the largest designation in the industry is ABR, which is held by approximately 45,000 real estate professionals. That represents 1.87% of all licensees and 3.2% of NAR membership. ABR is arguably the largest designation of the big three ABR, CRS and GRI.
Add all three together, understanding that many that have one have an additional, and you still do not get over 5% of the total licensees having any designation. We must be in a business to perfect and hone are skills; to the betterment of the service we provide and ourselves. No other industry that gets paid as lucratively as real estate yet requires so little in the form of continuing education and certification.
Sad truth is that there are thousands of consumers that are poorly represented and very good agents that can take advantage of opposing the agent and hence bolster their position in the transaction. Don't for a minute think that some ethical boundary prevents agents from preying on the poorly represented.
If I could change real estate I would require certifications and designations before an agents ability to practice.
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