According to the one million-plus-member National Association of Realtors, 86% of new real estate licensees exit the business within a year. And only 7% go on to their first license renewal.
Obviously, the high turnover rate has negative consequences for consumers as well as for practitioners. Limited experience and inadequate training contribute to frustration and anxiety for consumers. This in turn has lead to negative stereotypes, and a general sense, as evidenced by the growth of discount brokerages, that we get paid more than we are worth. Link.
Without higher standards for entry, my chosen profession will continue to be an avenue for experimentation by amateurs with little desire to be true professionals.
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