Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers.
Takeaways:
- It’s too easy to become a real estate agent.
- New agents aren’t prepared to practice just because they passed the exam.
- The three things all new agents should have to do before practicing alone.
The way real estate agents execute their job is crucial to a city, economy and the population in general. People become a product of their environment.
Everyone needs a roof over their head, and if we make major mistakes, there could be major consequences. Not a pretty environment to envision.
I’ve been in the industry for a little over a year, and I now realize the importance of Realtors, but I’ve noticed a big problem.
It’s easy to become an agent.
[Tweet “It’s easy to become an agent.”]
I’m 20, so most of my friends are in college studying four years or more just for a chance to work in an industry. Real estate school, however, took me 75 days, and the state exam was easy.
Many people are lured into real estate by the big closing checks. In fact, my first deal was a week after I got my license, and I realized I had no clue how to structure a deal. I wasn’t even close to being a professional.
Yet, I convinced someone to trust me with $300,000. At this point, I hope you’re seeing the magnitude of problems an inexperienced agent could run into.
[Tweet ” I hope you’re seeing the magnitude of problems an inexperienced agent could run into.”]
So how do we train, prepare and educate new agents before they make a mistake?
Now that I’ve had my license for almost a year, I am going to share what has helped me feel comfortable saying and knowing I am a professional and trustworthy agent.
Here are the three steps agents should have to take before they receive their license.
- Real estate school and state exam (same basic principles and laws for each state).
- One year with an approved agent or broker (Note: Agent or broker must be approved by state commission, and the apprentice should have to work with agent at least 20 hours or more a week and be present with agent for at least three closed transactions.)
- 100-plus hours of approved classes during apprenticeship year.
Apprenticeship and experience were the biggest helpers for me, and they still are. After almost a year in the business, I can tell you I did not feel like a true Realtor until about 30 days ago.
[Tweet “Apprenticeship and experience were the biggest helpers for me, and they still are. “]
Extra fees and all the other things other agents have suggested will not help. The three requirements I proposed require mostly time and effort — which everyone can give if they are serious about being a real estate professional.
Cheers to being more professional.
[Tweet “Cheers to being more professional.”]
Michael Horstman is Green-certified by NAR and is a strong advocate for future real estate and technology. Follow him on Twitter or connect with him on LinkedIn.