Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You know Oregon tried this. The real estate commission committee brought up the idea that a real estate agent had to do one transaction per year to maintain their license. OAR was all over making sure that didn't happen. We have to do 30 hours every 2 years for CE in specific subjects.
30 hours?!?!? Wow! I don't know how you find the time to do all that CE.
Honestly, as much as the local Realtor boards work for us they do an equal amount of work against us. I really feel like their goal is to keep as many active real estate agents in the business as possible so that they can collect membership dues from a larger number of agents. What we need is fewer agents. In my town, I believe there is a whopping average of 3 transactions per agent annually. Of course, some have none and some have a lot but for the average to work out that low is not a good thing for the industry.
30 hours?!?!? Wow! I don't know how you find the time to do all that CE.
Honestly, as much as the local Realtor boards work for us they do an equal amount of work against us. I really feel like their goal is to keep as many active real estate agents in the business as possible so that they can collect membership dues from a larger number of agents. What we need is fewer agents. In my town, I believe there is a whopping average of 3 transactions per agent annually. Of course, some have none and some have a lot but for the average to work out that low is not a good thing for the industry.
I'm glad it is 30 hours. Things change so fast in the industry that I don't see how you could learn all that you need to know on less than that. I've had great trainings on MERS, law changes (required class every year for 3 hours), fair housing, short sales, foreclosures, deeds, bankruptcy, on and on. The local attorneys do most of the training and are fantastic. I just went to a great training put on by our MLS on property taxes. The assessor did a great job.
What we need is fewer agents. In my town, I believe there is a whopping average of 3 transactions per agent annually. Of course, some have none and some have a lot but for the average to work out that low is not a good thing for the industry.
This is the reason why I feel the cost of transacting real estate is ludicrous. Way too many agents doing way too little transactions. Only thing it can mean is that most of them are spending the majority of their time looking for clients. Three transactions! No wonder you all need to make $30,000 in a transaction.
If one only did 3 transactions in a year that is 1 per 4 months. At 40 hours per week that is 693 work hours. No way it takes anywhere close to 693 hours to sell or buy a home.
Do I think the cost of transacting real estate is outrageous? Yes.
Do I feel real estate agents make much? No.
Problem is that there are about ten times too many agents who spend the majority of their time hunting for clients. If instead the average agent transacted 30 transactions per year costs would be far lower. And this is what bothers me about the whole system as a buyer.
This is the reason why I feel the cost of transacting real estate is ludicrous. Way too many agents doing way too little transactions. Only thing it can mean is that most of them are spending the majority of their time looking for clients. Three transactions! No wonder you all need to make $30,000 in a transaction.
If one only did 3 transactions in a year that is 1 per 4 months. At 40 hours per week that is 693 work hours. No way it takes anywhere close to 693 hours to sell or buy a home.
Do I think the cost of transacting real estate is outrageous? Yes.
Do I feel real estate agents make much? No.
Problem is that there are about ten times too many agents who spend the majority of their time hunting for clients. If instead the average agent transacted 30 transactions per year costs would be far lower. And this is what bothers me about the whole system as a buyer.
Yes, if agents averaged even 20 per year, then the costs passed onto consumers could be less since you could spread your expenses over more clients. Each client would contribute less just to the costs of running a business.
A professional is widely accepted as a person with a post graduate degree.
Being a Professional has absolutely nothing with having degrees - be it 1 or 20. And there are many Real Estate licensees who have earned the right to call themselves a professional. I know any number of lawyers who DO NOT deserve the right to be called professionals.
A Professional is someone who through their ACTIONS earn the respect of others.
So get over yourself - those real estate licensees who take their time and money and effort to learn everything they can about their PROFESSION are to be given accolades Mark.
Being a Professional has absolutely nothing with having degrees - be it 1 or 20. And there are many Real Estate licensees who have earned the right to call themselves a professional. I know any number of lawyers who DO NOT deserve the right to be called professionals.
Call me an academic snob, but like it or not, in our society a "professional" is based on a combination of academic expertise (years in school) or high income. A professional field has a high level of expertise amongst all of its members. RE training is measured in hours and the average income is about 30k. Based on this, I don't think many people consider it to be a typical "professional" field. That does not mean there are not agents who are knowledgable or good at what they do.
Quote:
A Professional is someone who through their ACTIONS earn the respect of others.
Further evidence that RE is not a "professional" field.
Call me an academic snob, but like it or not, in our society a "professional" is based on a combination of academic expertise (years in school) or high income. A professional field has a high level of expertise amongst all of its members. RE training is measured in hours and the average income is about 30k. Based on this, I don't think many people consider it to be a typical "professional" field. That does not mean there are not agents who are knowledgeable or good at what they do.
OK, you're and Academic snob. In my previous career I built and opened 26 successful Glass Companies, was a member of Glass Associations and very successful. The Glass Business is very Blue Collar yet very needed in the construction and automotive world. I sold those companies for a good sum of money.
I was at that time a "Professional" in that Blue Collar business and it was far from your description. Although I have a college degree, there were Business owners who did not graduate from high school. They were very successful and professional in their careers.
Your definition of "Professional" is naive and wrong. I've seen many a young man with a Masters who can barely tie their shoes. A professional is about the knowledge and experience you bring to the career and most importantly how you conduct your business.
Call me an academic snob, but like it or not, in our society a "professional" is based on a combination of academic expertise (years in school) or high income. A professional field has a high level of expertise amongst all of its members. RE training is measured in hours and the average income is about 30k. Based on this, I don't think many people consider it to be a typical "professional" field. That does not mean there are not agents who are knowledgable or good at what they do.
Further evidence that RE is not a "professional" field.
I think your definition is misguided. A "Professional" is not based on "years in school" or "high income". There is a term "learned" profession, what is applied to professions that require a "post graduate" degree in order to get a license to practice. Doctors and lawyers are in that category.
The main criteria for professional include the following:
Expert and specialized knowledge in field which one is practicing professionally.
Excellent manual/practical and literary skills in relation to profession.
High quality work in (examples): creations, products, services, presentations, consultancy, primary/other research, administrative, marketing, photography or other work endeavors.
A high standard of professional ethics, behavior and work activities while carrying out one's profession (as an employee, self-employed person, career, enterprise, business, company, or partnership/associate/colleague, etc.). The professional owes a higher duty to a client, often a privilege of confidentiality, as well as a duty not to abandon the client just because he or she may not be able to pay or remunerate the professional. Often the professional is required to put the interest of the client ahead of his own interests.
Reasonable work morale and motivation. Having interest and desire to do a job well as holding positive attitude towards the profession are important elements in attaining a high level of professionalism.
Appropriate treatment of relationships with colleagues. Consideration should be shown to elderly, junior or inexperienced colleagues, as well as those with special needs. An example must be set to perpetuate the attitude of one's business without doing it harm.
A professional is an expert who is master in a specific field.
The main criteria for professional include the following:
Expert and specialized knowledge in field which one is practicing professionally.
Excellent manual/practical and literary skills in relation to profession.
High quality work in (examples): creations, products, services, presentations, consultancy, primary/other research, administrative, marketing, photography or other work endeavors.
A high standard of professional ethics, behavior and work activities while carrying out one's profession (as an employee, self-employed person, career, enterprise, business, company, or partnership/associate/colleague, etc.). The professional owes a higher duty to a client, often a privilege of confidentiality, as well as a duty not to abandon the client just because he or she may not be able to pay or remunerate the professional. Often the professional is required to put the interest of the client ahead of his own interests.
Reasonable work morale and motivation. Having interest and desire to do a job well as holding positive attitude towards the profession are important elements in attaining a high level of professionalism.
Appropriate treatment of relationships with colleagues. Consideration should be shown to elderly, junior or inexperienced colleagues, as well as those with special needs. An example must be set to perpetuate the attitude of one's business without doing it harm.
A professional is an expert who is master in a specific field.
1. Highly variable in RE
2. Little applicability to RE
3. See #1
4. Nice lift from Wikipedia. You should really reference your work, plagiarism is considered unethical
5. Probably your best argument. Commission = motivation
6. See #2
7. Very few "master's" of their "field" in RE.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
