Request for Comments "Real Estate Workshop" #53

Submission Number:
Brandon Farrow
Initiative Name:
Request for Comments "Real Estate Workshop"
The single factor having the greatest impact on residential real estate is the tremendously low bar for entry as a real estate professional. When a member of the general public can get a real estate license within a few weeks and for less than a few thousands dollars the entire industry is devalued. It's easier to get a license and represent a potential buyer or seller on probably the most significant and costly transaction of their lives than it is to get a license to cut hair. Therefore, many brokerages focus on a quantity rather than quality business model. General perception of the value of real estate professionals continues to decline. The greatest impact legislatures can have on increasing the health and competition of the real estate industry and amongst real estate brokerages is to increase the minimum licensing requirements across the nation. This would create competition amongst brokerages for better performing agents and increase the professionalism and quality of all brokerages as they compete in the industry.