The Dilemma Of Brokers

For sometime now, Real Estate agents have been getting a bad rap. Realtors are lumped into the same group as used car salesman, which is not very flattering considering that buying or selling a home is one of the most important financial decisions a person can make.

Working in Real Estate, I have come across a number of agents who frankly should not be in the business. Between lying about signed addendum’s to forged signatures, I’ve seen it all. It is no wonder why Real Estate is the epicenter of the financial crisis.

In today’s world of short sales and REOs, many Realtors do not have the skills to handle these complicated transactions. Properties aren’t appraising, short sales are taking longer, and banks are becoming increasingly difficult to deal with. If an agent doesn’t have the experience or expertise to deal with these transaction, there is a good chance they won’t close, leaving buyers and sellers out in the wind.

The reason agents don’t have the skills to handle these kind of transactions is because brokerages do a poor job in training their agents. They’ll train them for a few weeks, give them some books with outdated information, and send them to the wolves. Brokers have not justified their fees. Most brokers offer little to no support in terms of training and leads.

Unless you join a team, starting your Real Estate career on your own is almost an impossible task.  If this industry is going to improve, it needs to start with how brokers train their agents. An agent with the right skill set can survive this market, while providing quality customer service to his/her client. It may take more pain in this economic crisis before brokers wake up and see the light.


~ by fnunez on September 13, 2011.

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