Comments on: Lawrence Yun, thank you for speaking the truth about too many Realtors

By: Agent Update for 2008 | Real Central VA

Agent Update for 2008 | Real Central VA — Wed, 20 Aug 2008 14:21:36 +0000

[...] Dr. Yun – the observation about “too many Realtors” is one that you made in March of this year, and it’s not one about competition, but professionalism (or lack [...]

By: Matthew Rathbun

Matthew Rathbun — Thu, 13 Mar 2008 02:41:38 +0000

I want to jump in here and say a few not so popular things… My observation, as an instructor is that short of requiring a two year degree to be a licensee, pre-licensing requirements can be as hefty as you want to, and the students will still put their time into the class and pass the test, because they think there is a pot of gold at the other end.

The language of real estate is, of itself too complicated for many. Many of the pre-licensing students never test, as the material is too difficult. I do think that actually forcing students in chairs – in a classroom – learning from a qualified instructor for the full 60 hours is key. This time should be spent actually going over consumer interaction and training on marketing, technology and negotiations.

I really do want to disagree (respectfully) with Mr. Yun, in that my personal experience agents with less then five years and with a good business sense and intent on making a career are far more vigilant about their license and education.

My biggest issue with the more experienced brokers who are so involved in the “business” aspect of the firm, they don’t have time to invest in the day to day practice and ever changing techniques.

Experienced agents tend to think that they have heard or learned it all and have failed to realize that Real Estate Education is taking a new evolution. The business is getting more complicated, just over the past five years.

Sorry for the long comment, but I think the issue is more difficult than just requiring more education.

By: David

David — Wed, 12 Mar 2008 19:36:06 +0000

http://lawrenceyunwatch.blogspot.com

By: Anonymous Coward

Anonymous Coward — Wed, 12 Mar 2008 14:26:16 +0000

Jim, the final paragraph is Lawrence Yun crying crocodile tears. From the perspective of federal and state antitrust enforcement, realtors could raise dues and educational requirements all they want, if they would just stop trying to drive low-cost alternatives to full-service realtors out of the market. The FTC and DOJ recently issued a report on the business of real estate brokers. See http://www.usdoj.gov/atr/public/reports/223094.htm Suffice to say that realtors have a rich history of anticompetitive conduct, including anti-rebate and minimum service rules, unreasonably rigorous licensing requirements for firms that advertise FSBO properties, and use of discriminatory MLS rules to disadvantage low-cost competitors. The FTC and DOJ have been doing more and more to intervene in local realty associations’ rule-making, because the rules are often anti-competition and anti-consumer. And both antitrust agencies are finding significant congressional support for their activism.

By: Athol Kay

Athol Kay — Wed, 12 Mar 2008 13:47:48 +0000

And truth be told they don’t actually teach you anything about selling houses in pre-licensing. They just cover real estate law and practice.

But even so… real estate bubble = real estate agent bubble.

Not much of a surprise.

By: Bob Carney

Bob Carney — Wed, 12 Mar 2008 11:59:54 +0000

But they (NAR) weren’t complaining about the dues they were collecting from the new members or from the money they make from affiliates.

There is do doubt this industry is polluted with get rich quick dreamers. They don’t take the time to educate themselves and expect to cash in the check after the co-op agent walks them through the whole transaction.

Next story will be how NAR is hurting for funds.

By: Michelle DeRepentigny

Michelle DeRepentigny — Wed, 12 Mar 2008 05:47:44 +0000

Possibly the only accurate thing to have come out of NAR in years. As a broker, I find myself very frustrated with agents on a daily basis and can only imagine how the consumer feels.