OK, I have gone on and on about the problems, now the solution. It is simple, REALTORS are rated the worse profession in almost every survey because of a lack of training. We only pay $2000 and 120 hours and we are good to go...
It should be a three part process... Part one Pre-License should be collage level classes and should be a minimum of 1000 to 2000 hours of actual classroom training that includes:
- Basic Business Practices
- Accounting
- Agency
- Laws (ALL STATE AND NATIONAL)
- Contracts (reading, writing, and understanding them)
- Negotiation
- Finance
- Customer Education
- Advertising
- Fair Housing
- REO-SHORT SALES-LOAN MODIFICATIONS
- Tax Issues (Local to Federal)
- Commercial and Land, not just Residential
Part two should be a permitted internship. Appraisers are required to do a one to two year internship with a fully licensed appraiser to ensure they understand the business, so should Real Estate Agents. Agents should have to intern a minimum of a year and a minimum of say 30 transactions. During this time the prospective agent should not be allowed to commit the client to ANYTHING without the review of their mentor signing off.
Part three is continuing education should be 40 hours a YEAR and should cover things that are relevant to the industry and there should be testing to make sure you understood the material before credit is issued for the CE class. EDUCATION is the key, if we starting training the people in the field and those coming into the field we will have much less errors and much less problems with bad representation.
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