I think we will see a shake-out among real estate agents this year. Around here, everyone and their second cousins got real estate licenses over the past five years or so. I say “got real estate licenses” because I am reluctant to say “went to work in the real estate industry as a professional, full-time real estate agent”.
I am all for a growing profession. I welcome competition. However, what I have seen too much of is part-time efforts. Someone gets a license, then lists their brother’s house, or their best friend’s house across the street, then doesn’t do anything but put a sign in the yard and place the listing on MLS. All these part-time listings add up. The broker I was with when I first started argued for minimal standards of performance for someone to keep their license.
I would rather let the natural process take place. I am a libertarian at heart, so I don’t like too many restrictive regulations, especially those that appear self-serving and exclusive for certain groups. I think the slow-down will take care of the agents who are only in this business half-heartedly to make a little extra spending money. This is a full-time profession and most part-time efforts will lead to frustration and apathy – part-timers become disillusioned and lose interest; they drift away. But they sure suck up a lot of business at times with all their unsuspecting friends and cousins.
M