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Should Membership Dues for Realtors Triple in Cost for 2009?

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Real Estate Agent with Fantis Group Real Estate

Tony Fantis standing in Salt Lake neighborhood

 

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?

 

 

 

Comments (8)
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Gene Allen
Fathom Realty - Cary, NC
Realty Consultant for Cary Real Estate
I remember a while ago I was talking to a broker who hired a lot of part time agents and was complaining because of increases in dues and his agents would get out of the business.  These are agents that may do one or two closings a year.   I told him I was quite happy about it.
Apr 13, 2008 10:05 AM
Nannette Turner
eXp Realty LLC - Lynchburg, VA
Online Marketing Home Ownership Advocate Specialis

I think you have a valid point.  How about making the CE harder to continue remain active.  You know they are currently discussing a bill requiring mortgage loan reps to get licences.  This is going to regulate that industry unlike we have seen in the past and these type of regulations may filter into our industry as well.  These changes come as a result of the market changing in the past few years.

Then again, I would imagine if you just left the fees as they are this industry would work it's way out just like the housing market will if they leave it alone.

Just my 2 cents

Apr 13, 2008 10:15 AM
Kim Harris
Sound Realty - Kirkland, WA
Designated Broker/Owner/Sound Realty
          Yes there are way too many in Real Estate in this country. But...increasing Realtor dues will only decrease the amount of Realtor's...not agents...and that is a major problem.  Testing and up to date training will weed out the ones who think it is now becoming "a hard job ". Here in King County,Wash. there are close to 20,000 licensed agents; I will bet you that 2/3 have not sold anything in a year.
Apr 13, 2008 10:32 AM
Patty Carroll
Vancouver, WA

One way or another we all end up paying for non-productive agents.  If increased dues would, in fact, lead to a smaller pool of more effective agents, we and the consumers would all benefit.

Patty & Scott Carroll - RE/MAX Equity Group, Vancouver WA

Apr 13, 2008 10:38 AM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"
I'm not sure how increased dues contributes to better training.....the training that is available is good.....each individual has to pay for it...unless increasing dues will decrease how much we pay for training.......
Apr 13, 2008 10:39 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs
Raising dues is a stupid thing. Who is going to get them? You do not get to renew if you sold less then 10 properties two years in a row. The numbers will work themselves out. Not all areas saw the increase in agents and you are basing your case as to what happened in your market.
Apr 13, 2008 10:49 AM
Tony Fantis
Fantis Group Real Estate - Salt Lake City, UT
Realtor,Principal Broker - Salt Lake City

Hi Eric,

Actually, I am basing my numbers on national trends.  I happened to make a reference to my market, as well.  Please don't call me stupid...I happen to think I am kinda smart! 

I thought about the 10 properties in 2 years thing.  It is problematic (not 'stupid') because of things that happen to productive agents, such as pregnancy, death in the family, divorce.  Many people would have to have exceptions for small lapses in production.

Thanks for your thoughts, though.  I did ask for them.  ;-)

Tony 

Apr 13, 2008 11:18 AM
Elizabeth Cooper-Golden
Huntsville Alabama Real Estate, (@ Homes Realty Group) - Huntsville, AL
Huntsville AL MLS
Maybe if the brokers would stop hiring part timers that would be a much simpler strategy. My office in Nashville would not hire part timers.
Apr 13, 2008 02:29 PM
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