By now most Real Estate Agents are beginning to feel the effects of the current market slowdown. If you are a Real Estate Professional you probably know several colleagues who have given up on their career and sought other employment. It is a natural thinning out of a bloated industry. Nothing wrong with that. What I find interesting and quite frankly a little disturbing is what these former agents are gravitating towards for employment. So far I have seen them waiting tables, as store clerks and stockers. What I have not seen is movement into other professional fields. I am seeing them in generally unskilled positions. This is pretty interesting. People who over the last several years were entrusted with what was probably a person's biggest investment of their lifetime seemingly have no transferable skills in business. I know there is an argument for agents as being primarily sales professionals but I see this differently. Paperwork is becoming more complex as are transactions. Now more than ever understanding and using basic business protocols and management practices are necessary in facilitating successful Real Estate transactions. Although each State regulates the level of involvement in the process here in Arizona we have quite a bit of responsibility in the transaction. Shouldn't we at least have enough education and skill to qualify for other business jobs? Until the Real Estate industry takes itself seriously with increased educational requirements and continuing education credit classes that require critical thinking skills how can we ever expect to change the perception of the general public that we are true professionals?

Please let me know what you think.

 

4 Comments on Thinning The Herd

JAN
08
2008
289,445 Points 2 Featured Posts Outside Blog
The assumption sounds as if all these agents are not qualified for much else...Perhaps it may be a temporary source of income and they are just waiting it out.
11:31am • #1

Let's be honest, to be an agent in most states you take a few online classes and retake a state exam until you pass it. At least there's a background check!

You are absolutely right Vicki! We SHOULD be concerned about the lack of transferrable skills. It tells me that the education and experience requirements to obtain a license are lacking - and don't get me started about the requirements for loan officers. In California you don't even need to take a mortgage class. A license in real estate gives you a license as a loan officer. The California DRE should have two different sets of requirements.

 

11:39am • #2

Gary,

Thanks for the comment. My post was talking about agents who have given up, at least for now, on their business. They themselves have said this is "all they can do". As for those looking for a temporay source of income, I truly cannot imagine running any business as complicated as real estate part time and making a sucess out of it.

Vicki

Vicki Brannock
11:50am • #3

Norm,

This market downturn and interconnection through social networking will hopefully be the start of many reforms, let's see if we can't influence our various state organizations to treat at those who choose to make their careers in real estate as professionals and require the appropriate knowledge and education befitting such an industry.

Vicki

Vickii Brannock
1:10pm • #4

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Vicki Brannock

Prescott, AZ

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