Home > Blogs > Sami T. Siddiqui > Real Living GreatWest Real Estate

Professionalism in Real Estate?

By Sami T. Siddiqui

Real Estate Broker/Owner with Real Living GreatWest

March 04, 2008 02:41 PM

Why does the real estate industry get a bad rap. National statistics show that buyers and sellers do not perceive their agent or the industry as being professional. Could it be that it only takes 45 hours to get a real estate license? It takes 1200-1800 hours to learn how to cut hair in the state of California. Why does the state allow agents to handle a buyer or seller's most important purchase or sale of their life with only 45 hours of training? And is it really training at all? I can't remember the last time I was able to actually apply information from Real Estate Principles to my everyday practice as a realtor. Terms and such are great but Principles does not even teach and agent how to write a contract. We have agents right out of the exam room writing up the most important transactions of a persons life. Personally, I feel that education comparable to GRI should be necessary in order to even obtain a CA real estate license. I believe this because agents as a whole do not regularly refine their skills.

I also ponder the following question. How do we increase the professional image of our industry when so many agents affiliate with a non name brand company? I am not at all saying that a non name brand is bad. However, in my experience agents working for non name brand companies seem to have less experience and training. They also have less access to good continuing educational opportunities. The top brands, like GMAC Real Estate offer continuing education to the agents. Doctors, and lawyers for example, maintain their professional knowledge and image through continued education. Why as an industry do real estate agents fail to refine and continue their education?

Written by-
Brodie Stephens
Executive Vice President

GreatWest GMAC Real Estate
3604 Fair Oaks Blvd. #120
Sacramento, CA 95864
(916) 481-3400 x166

Links:
http://www.joingmac.com/
http://www.youtube.com/watch?v=ahoFkxQ2-ac
http://www.greatwestgmac.com/
www.activerain.com/blogs/brodiestephens
www.reachgmacre.com/blog/recruiting.com
www.myspace.com/joingmac
http://www.brodiestephens.com/
http://www.gmacrealestate.com/
http://www.eleganthomes.com/
GreatWest Offices in:
Sacramento, Roseville, Placerville, Elk Grove, and Yuba City
Keywords:
Realtor, Agent, Careers, Jobs, Social Networking, Relationships, Real Estate, Homes, Houses, Web 2.0, Technology, Internet, MLS, Search, REO, Relocation Department, Short Sale, Foreclosure, Premier Service, Home Rewards, GMAC Global Relocation Services, Trusted Advisor, Skill Negotiator, Expert Facilitator, Commissions, Recruiting, Gen X, Gen Y, License, California, Central Valley, Northern California, Foothills, Mountains, Career, Craigslist, Classifieds, Ads, Advertising, Marketing, Fees,

Comments(5)

Comment

Show All Comments

Sort:

R R

Magnolia, TX

I agree with you. And I think because it's so easy to be licensed, there are many people in the business that shouldn't be and are giving realtors/brokers a bad name. And another thing that is leading this business further south is the discount brokers.... that will always list for less, represent buyers for less, and publicly market their company that way to get more deals. I won't name the companies, but we all know who they are. It's obvious in the name of the company what are they doing, right??? I work really hard for my clients and don't think I'm over paid... they must think they are overpaid and are obviously not doing their jobs and giving 100%.

Mar 04, 2008 02:54 PM

Sami T. Siddiqui

Real Living GreatWest - Sacramento, CA

Thanks for your response. We need to remember that 85% of our customers buy on service and not price. So many times agents focus on the 15% of the population that by on price and we start discounting. All successful companies focus on service not price. Just look to Nordstroms as an example. Nordstroms sells very similar merchandise as Macy's but for a lot more money. Why do customers keep coming back? Why is Nordstroms so successful? Because they cater to the 85% of the population that buy on service and the entire customer service experience. They have targeted a specific market. This is why GMAC Real Estate provides Premier Service to it's clients. A written and proven level of customer service is delivered to the client through our Premier Service agents. We are targeting and differentiating ourselves from the others and certainly the discount brokers. Take a look more closely at our Premier Service program at the following links.

www.GMACRealEstate.com

www.JoinGMAC.com

www.GreatWestGMC.com

written by- Brodie Stephens, Executive Vice President

Mar 04, 2008 03:10 PM

David Patterson

Columbia, SC

ibdp3

Brodie:

The minimum amount and type of initial classroom hours does impact public perception of our business. That current environment falls at the feet of state legislatures. If they aren't willing to make the changes, our venting will always fall on deaf ears.

I would like to see all new real estate agents complete one year and/or five transactions under a "state certified" mentor. In some markets, you can't assume the broker-in-charge would be a good mentor. Why? In South Carolina, you just need three years of licensure to become a BIC. Unfortunately, you don't have to sell one piece of property during that three-year period.

In theory, I agree about the brand name concept. However, there are some very successful "non-brand" companies like Russell & Jeffcoat Realtors, Inc. in Columbia, SC. They are an INDEPENDENT COMPANY that's been in business for 40+ years. We have one of the lowest E&O Insurance rates because of the internal training program and its impact on minimizing issues.

You asked a question in your post. "Why as an industry do real estate agents fail to refine and continue their education?" If agents are reaching their hobby or financial goals without additional training, real estate agents perceive no need to continue their education.

State licensing requirements have no impact on this. If an agent is content with being mediocre, they can achieve this status without the pursuit of more education. Shouldn't we assign some blame to the BRAND and non-brand real estate companies that accept mediocrity?

That's my $.02.

Mar 05, 2008 01:02 AM

Your response and contribution to this post is greatly appreciated. I absolutely agree that non-name brand companies can be successful in their prospective markets. I am not contesting your or any other company's ability to succeed. I feel that a national brand can bring more to the table. Generally speaking agents have greater access to valuable programs and tools through national franchises like GMAC Real Estate. For example, Premier Service and HomeRewards. However, the key is for the agents to work full time and build a career. I know we are all too familiar with the hobby agent. We have been very successful in removing hobby agents and hiring experienced agents to our team through our Premier Service program. The best part, is we can prove our success. Currently GMAC Real Estate nationally has a 94.5% customer service satisfaction score and our company GreatWest GMAC has a 96% customer service score. The most important statistic is that 93% of our clients say and choose to work with GreatWest GMAC and the agent again. This completely blows the national average of 21%. Please visit our company blog below.

http://www.greatwestgmac.com/blog.cfm

Mar 06, 2008 03:04 AM

Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Brodie, I disagree with your analysis of the name-brand versus non-brand companies and the level of experience of agents. Here we see the new agents going to the big name companies. They have NO experience and the companies don't offer the level of training they should. It's a dog-eat-dog business and the newbies are thrown to the wolves. It's scary and does our professional image no good. I find, in our market, the smaller companies have the most experienced agents because they're not afraid to go independent.

Mar 18, 2008 03:32 PM

Professionalism in Real Estate?

Comments(5)

Sami T. Siddiqui

Real Estate Resources

Recent Posts

Additional Information