Last year, more than 400,000 Realtors didn't sell a single home. That's a lot. And in my home state of Utah surrounding Salt Lake City, the average Realtor sold 1.3 homes. What is going on?
Put simply, there are too many Realtors. It's too easy to get a license. It takes less time to get a real estate license than to be licensed to cut hair. Both are important jobs. One is under-regulated.
So if the states won't make adequate licensing requirements for agents, then it falls on the Realtor organization. Now I'll likely get some hate mail for this, but let me be the first to say I'd pay triple my Realtor dues in order to flush out non-producing agents.
It is NOT a benefit to consumers to have 400,000 Realtors roaming around with no experience. Sure, there will always be new people involved. But for now we're diluting a product and devaluing our profession.
By increasing our dues, we can provide better training to Realtors and more value to consumers. People who cannot afford it will have to drop out. Survival of the fittest...just like any other business.
I volunteer to pay triple my dues for 2009. Anyone else wanna pony up? Any other solutions or suggestions?