The Danger Facing Today’s Real Estate Industry

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August 19, 2015 by Jeff Lowen

Ever been to the Emergency Room? You get whatever doctor and nurse that happens to be on staff at the time, right? Good? Bad? Good question. When it comes to selling your home or buying one, statistics say that you’ll be in the same place. Except this time, it’s the Real Estate Agent Emergency Room!

Haven’t you ever wondered why the mandatory education requirements for a real estate agent are so low? In a recent report that came from the National Association of Realtors, called the D.A.N.G.E.R. Report. Screenshot 2015-08-19 10.02.48It outlines the number one threat to the real estate industry being the “Masses of Marginal, Unethical, Untrained, and Incompetent Real Estate Agents.”

How do we avert a threat like this?

For starters, we’re involved with the National Association of Expert Advisors, an organization promoting a higher standard, and they’ve ‘decoded’ what this report really means in this video:

Watch This Video!

Now, the focus of this is toward real estate agents that have a desire for a higher standard in their business, but as consumers, it’s necessary we understand that the role of the real estate agent is becoming less and less important. Which essentially means, the value the industry brings is waning. In other words, the needs of the consumer become a mediocre commodity and an excellent consumer experience, bringing higher value to buyers and sellers are put last.

As a professional myself, I subscribe to whatever it takes to ensure the bar is set high and consumers are MORE informed and NOT just the ILLUSION of being informed! That’s why, as a Real Estate Professional and Realtor, I’m involved with the National Association of Expert Advisors.

And, just as an FYI, here’s some Industry Minimum requirements as a comparison:

  • Real estate agent: 40-160 hours of training to provide advice buying or selling your $100,000 to $10,000,000+ asset.
  • Emergency Medical Technician: Up to 350 hours to… Well, you know :-/
  • Cosmetologist: 1,600 to 1,800 hours of training to give a $12-$200+ haircut.
  • Semi Tractor/Trailer Truck Driver (CDL): 160 hours.

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