RealTown's RealTalk

I am so pleasantly surprised at the 'quality, knowledge and experience' of the Realtors left standing in this market. What a pleasure it is to get two offers on my short sales this morning, contact each agent, and BOTH speak the same language. With the riff-raff leaving the business in droves, it leaves true professionals who WILL get the job done. I don't feel at all in 'competition' with these great agents. Instead, I feel a camaraderie with them to work together to list and sell property to closing.

I think the WORST thing our industry did was to let anyone breathing get a real estate license (sort of like letting anyone with a job get a no-money down mortgage). Based on the professionalism I am seeing in my market today, the respect that we can command in the future will continue, but only if we do not fall back into our old ways.

I feel that current licensees (even those on inactive) should be 'grandfathered' into new requirements to procure a real estate license. These requirements should include: at least an Associates Degree, and an agreement in writing to make real estate their first career priority, or move to "Junior" status.

The only reason for the education requirement is to narrow the field of people who want to jump on the band wagon when things are good and the true professionals who work hard in the trenches in good times and bad. If someone really wants to make real estate their profession, let them get a couple of years of education, then be mentored by an experienced Realtor, then moved up to work on their own.

"Junior" Realtors, or those still in training, can be hired by "Senior" Realtors to cover the extra business in the busy times. At least this way, a true professional will be involved in EVERY transaction, making our industry a better one.

I think the WORST thing our industry did was to let anyone breathing get a real estate license (sort of like letting anyone with a job get a no-money down mortgage). Based on the professionalism I am seeing in my market today, the respect that we can command in the future will continue, but only if we do not fall back into our old ways.

I feel that current licensees (even those on inactive) should be 'grandfathered' into new requirements to procure a real estate license. These requirements should include: at least an Associates Degree, and an agreement in writing to make real estate their first career priority, or move to "Junior" status.

The only reason for the education requirement is to narrow the field of people who want to jump on the band wagon when things are good and the true professionals who work hard in the trenches in good times and bad. If someone really wants to make real estate their profession, let them get a couple of years of education, then be mentored by an experienced Realtor, then moved up to work on their own.

"Junior" Realtors, or those still in training, can be hired by "Senior" Realtors to cover the extra business in the busy times. At least this way, a true professional will be involved in EVERY transaction, making our industry a better one.

Deede,

I do agree with you about how easy it is to get a real estate license. Until last July, in New York you needed to take a 45 hour course where the instructors told you this is all about passing the state test. (A test by the way I have said on more than one occasion, a well trained monkey could pass. And has very little to do with the practical application of selling real estate.) Once you have your license your broker will teach you about real estate. Now the course has been expanded to 75 hours at least. I do think there should be an apprentice program. Not for any set time period, but for a specific number of transactions. Yes in theory that is what the broker is supposed to do, to mentor the new agent until they are ready to fly solo. In reality I am not sure that happens very often.

As far as your statement that you should have at least an Associates Degree, I disagree. Personally when I was 18-20 years old I had no idea what I wanted to be when I grew up. I changed degree programs 3 or 4 times. I have over 70 credits and if I decided I needed a degree would still be over 20 credits away from any 2 year degree (and that's assuming that the classes I took 20 years ago would even count). My point being is that even if I had completed any of the degree programs, I don't see where an AA in Liberal Arts with a math/science focus or a Retail Management degree would make me a better agent. For example- my husband has his degree in criminal justice (a field he has never worked in by the way) and he is a general manager overseeing 3 different franchises in electrical, plumbing and heating/cooling. He never has taken a business course. His real life "education" qualified him for that position, not his 2 year degree in criminal justice. So unless you wanted to stipulate that the degree must be in business or even in real estate specifically than I think a broad statement about needing a 2 year degree as a requirement really doesn't make it any different than what we have today.

Regarding part time verse full time agents- I have worked with part time agents that would beat the pants off many full time agents. I don't think you can fault someone for only wanting to do a few deals a year if that is what their desire is. Maybe they don't need to work, or maybe there is a reason they are not able to work 60+ hours a week. Is it possible that agent is less skilled than the agent who is doing 50 or 100 transactions a year, absolutely? Is it a guarantee that agent is less skilled or less qualified than a full time agent who maybe has been in the business 30 or 40 years and doesn't know how to turn on a computer? Or perhaps is no longer able to fill out a contract correctly? Don't think so. I am sure we have all encountered good agents, great agents and bad agents- in every age, in every level of experience - both as full time agents and as part time agents.

Unfortunately the consumer has the right to choose which "professional" they want to work with. And sometimes that choice is made by the relationship between the seller/buyer and the agent. Not always is it based on the skill level of the agent involved. And yes that can make it more difficult to complete the transaction when you are on the other side of the deal. Especially when it comes to a short sale. I requested a showing on a property a couple of weeks ago, it was mentioned that it was a short sale. So I asked the other agent a couple of questions that should not have been surprising questions (have you spoken with the bank yet, has it gone to foreclosure yet etc) and the agent said she hadn't even spoken to the lender. Another house the agent was waiting to hear back from the lender what they would accept on the house- but had not yet submitted her client's financials, hardship letter or even gotten an offer. So yes especially with short sales it can be very very trying to work with someone who doesn't know what they are doing. But I just remember back about 3 years when I wrote my first contract. I was lucky enough that an older, experienced agent was on the other side, who is an absolute sweetheart to work with. And I told her at our very first conversation that this was my first deal, and apologized in advance if I asked her any dumb questions. She was just wonderful to work with. The deal went through very smoothly. And after it closed I got a lovely note from her, complimenting me. I still have that note today.

I think the key here is that we need to be professionals. And that doesn't come from higher education, the number of years in the business or the number of transactions that we do each year. And when we have agents that are not professional, they need to be weeded out. If you have someone who violates the rules, do you report it? File a grievance? And does your board do anything more than look the other way? I think that if we as Realtors started enforcing our own rules and ethics that will go a lot farther than an educational requirement, or stipulating that all agents must work full time and make their career their first priority. Just my opinion…

Kris Coutant, e-Pro
Associate Broker
The Ultimate Team
Keller Williams Realty Distinctive Properties

Serving Warren, Washington
and Saratoga Counties
Cell: 518 361 5250
Office: 518 798 0040
KrisCoutant@roadrunner.com

Deede Wockenfuss, in part:

"I feel that current licensees (even those on inactive) should be 'grandfathered' into new requirements to procure a real estate license. These requirements should include: at least an Associates Degree, and an agreement in writing to make real estate their first career priority, or move to "Junior" status."

I guess I'd be out of luck too.� I went to court reporting school full-time for 2 � years, was a certified court reporter for almost 10 years (and reported a lot of depositions on contract issues), but I wouldn't be able to be a realtor either.

Michele Fieldson, GRI, e-PRO, SRES, CSP

Realty Benefit

562-508-1411

Michele@MicheleFieldson.com

www.MicheleFieldson.com

Certified Short Sale Professional

Helping Families Avoid Foreclosure

Thank everybody for your comments. Yes, maybe an Associates Degree (in anything) is not beneficial to being an agent. And, I might add that I don't have an Associates Degree myself, so 'grandfathering' those of us who have time in the business is warranted. I don't know the answer to lowering our ranks, but I do know that fewer of us is the answer to more professionalism.

I can only speak from the Arizona real estate market, which is one of the hardest hit in the country. But, the real estate industry in Arizona over the next 5-10 years will NOT be a 'get rich quick' business. It will be full of short sales, foreclosures, REO's and owners without equity. We will have a very long, drawn out period of home prices just staying 'par'. Where will commissions come from? Will they go down as a result, or up? There will just not be any more 'plain vanilla' real estate deals. Each one will need special expertise to get to closing. I'm not saying that deals were not hard in the past - but, I AM saying that they will be extremely difficult now and in the foreseeable future in Arizona.

Many states around the country have only had 5-10% drops in their market. We have had a 50% drop, so it will be much harder for us to come out of this any time soon. We will have fewer 'investors', as they won't be able to make that quick buck anymore. People will stay longer in their homes, meaning less need for a large populous of Realtors. This is what MY crystal ball says.

I don't think that people who are looking to make an easy buck in real estate will stay in the business in Arizona. There are so many difficult situations today and reams of knowledge to keep in your head. If I hadn't been doing this for so long, I might give up, too. But, for now, as our ranks decrease, I am going to enjoy working with the great agents who are still standing.

John,

I just had to reply to your comments.

Real estate schools are set up to teach students the basics of the law and the basics of the profession but mostly how to pass the test.

I was always of the opinion that your real education came from experience and guidance from the "old dogs" you work with.

The comments I've read on this blog seem to indicate that the so called senior agents think new agents should be inhibited from earning a living because they haven't been in the business long enough to know what they're doing. Well, if they were good enough to pass the test and earn their license then they're good enough to earn a living. You can't learn if you don't make mistakes and if you're new in this business and stupid enough to not run your paperwork past your broker before submitting it then you deserve to get spanked.

I work for a great Century 21 office in Washington State and us older agents want to see the new guys succeed so we do everything we can to help these folks. Oh, did I mention we don't require co-listing agreements with the new agents. Why starve a new agent when they do all the work of finding a buyer or seller and then walk their clients through the process? I like to see people succeed and learn but that can't be accomplished if they don't do the work on their own.

Why would an older agent with a succesful sphere of influence, with a good referral base and good leads coming to them from the broker possibly think that they need to put new agents under their thumbs and collect half the poor souls commission just because they are a new agent? This is a really old argument and the old guard needs to catch up.

I would have hoped that an old cuss like you, but new to this business, would have been able to waddle through that muck!

Finally, as a college level educator, I'd have thought you would have considered that the success of a man is clearly evident by the successes of those to whom he passes on his knowledge. That's the crux of the argument.

Art Hademan

Century 21

arthademan@comcast.net



----- Original Message -----
From: "John Cleek, Ph.D., e-PRO" <RealTalk@RealTown.com>
To: "Art Hademan" <NWWREALESTATE@comcast.net>
Sent: Tuesday, February 17, 2009 5:31:15 PM GMT -08:00 US/Canada Pacific
Subject: RealTalk: RE: Quality of Agents Today ID00DKCM

Deede makes some excellent points. I am fairly new to the
profession but have been appalled by the lack of professionalism
among REALTORS� as a group. I encounter highly professional agents
every day but it doesn't take many weak links to leave the
perception among the public that none of us know what we are
doing.

Pre-licensure requirements as well as post-licensure
requirements are too lax. Most pre-licensure courses are classic
examples of teaching to the test. All of the schools advertise that
they "guarantee" that 98 % or some ungodly high
percentage of those who take their class will pass the exam. And
they think that is a reason for bragging. As a college professor I
would have been reprimanded or perhaps let go if I guaranteed that
98% of my students would get a passing grade.

I have yet to meet anyone who says that their pre-licensure
course prepared them to be a fully qualified agent.

If the continuing education requirements were more rigorous
the weakness of pre-licensure might not be so glaring.

Upgrading our profession benefits all of us.

John

John E Cleek, Ph.D., e-PRO,

 

I think, Margery, that the old guard is still regurgitating an argument that's been on this blog for as long as I can remember.

I think agents like Deede should remember that the success of a man can best be measured by the achievements of those to whom he passes on his knowledge.

Art Hademan

Century 21

arthademan@comcast.net