Too many unskilled Realtors?
I had the pleasure of attending a residential real estate seminar yesterday in Brooklyn Heights, Minn. Sponsored by the Minnesota Real Estate Journal, the seminar covered a host of topics, most focusing on the slumping residential real estate market in Minnesota and the steps local real estate agents can take to survive the downturn.
I learned a lot during the conference. One comment, though, stuck in my mind during my plane ride back home to Chicago: Keith Hittner, broker of Minnesota real estate firm RHS Realty, spoke about a recent haircut. This is relevant because he asked his stylist about how much training she needed to become a beautician. Turns out, she needed a lot more training, and had to pass more exams, than did someone who wanted to become a Realtor.
To Hittner, that is a problem. After all, his stylist after all her training charged people $35 for a haircut. A Realtor, who basically has to pass one exam to earn a real estate license, goes through a lot less training to get in the middle of transactions totaling $300,000, $500,000 or $1 million plus.
Hittner said that there are too many uneducated, untrained Realtors running around. He called for more extensive real estate education, and a tougher road to that real estate salesperson’s license.
The crowd at the convention didn’t applaud Hittner’s statements. But they didn’t boo him off the podium, either.
Realtors handle what is for most people the largest financial investment they’ll ever make. Maybe it is time to change the way their licenses are handed out.
I completely agree! Before working as a full time stager, I was a real estate agent. I had no idea what I was doing nor I was comfortable with handling someone’s investment without knowing exactly what I am doing. Every transaction is a life changing experience for our clients, they are moving on and up with their lives by getting equity out of their initial investment. It’s only fair they get the best services and advices in doing their selling or buying.
Cheers,
Cindy
Hi, Cindy:
Thanks for your comment. I’ve worked with a few real estate agents — and I’ve interviewed many, many more — and the vast majority of them are talented, smart and driven. They know their stuff. But, as in any business, there are some agents who don’t really know what they are doing. One good thing about this down real estate market is that a lot of these unskilled agents are being driven out of the business. It’s getting too hard, especially if you’re not good at what you do.
This is so true. Right on the button. I think there has to be more than just one simple exam. I have had my license for over 17 years now and I have seen and dealt with these unexperienced guys that are just trying out something new. It really drives me crazy.
Thanks, Joseph, for your comments. I’m glad to see other real estate agents supporting the idea of requiring more education to sell homes.