Is Becoming a Real Estate Agent Too Easy?

Let's face it buying and selling a home is a big deal. In fact, housing for most people is one of their most significant assets. Consumers rely on real estate agents to be their guiding light in most transactions.

Do consumers always get the best advice? Certainly not! Why does this happen? Are there valid reasons why this occurs so frequently?

Could it be because real estate is too easy to get into? Are the barriers for entry too low? It is fairly easy to become a real estate agent.

You take a course, study for the examine, take the test, and if you pass you're now a real estate agent. The lure of getting into an industry where significant amounts of money can be made is extremely attractive.

A real estate agent can make significant income. Just look at the reporting from Maximum Real Estate Exposure on how much the average real estate agent makes.

Think about it though - you don't need a college degree so just about anyone can get it and provide consumers financial advice.

The industry has tried to improve the information being past along by requiring agents to have continuing education. While that is a step in the right direction, is it enough? Many would say it's not.

Agents and their agencies would benefit from changes to the barriers to entry, as well as the industry's standing and reputation within the broader community.

Many think of a real estate agent as a more glorified car salesman.

An increase in property-related knowledge can lead to increased satisfaction and productivity. It also makes it more challenging for those who don't agree to stay in the industry.

Real Estate brokerages that are looking to hire new agents would theoretically require less training, instead favoring more practical instruction on how to approach selling processes and working with clients.

What Can Be Done to Make The Barriers of Entry More Challenging?

Are there any practical things that can be done to make it harder to break into real estate? In my personal opinion, it is not enough to be able to take a course and pass a test.

There should be more hours involved with being able to get your real estate license. Getting a real estate license should not be accomplished by completing online courses.

There should be a more broad based curriculum that must be completed in person. The ease of sitting at your computer does not make sense when it comes to something as important as housing.

The Benefits of Increased Education For Real Estate

When people within any industry are more educated, the service they provide is better. While experience is still necessary in real estate, starting with a more well rounded base of information could be helpful.

Real Estate brokers would need to spend less time with the basics and focus more on probably situations that come up daily between agents and consumers.

With a more educated workforce there would also be fewer lawsuits against agents. All in all a higher barrier to entry is a win-win for all.