I alluded to this here, but didn't really jump into it. There is another part of the story though...
Let's recap. I said in the previous post that I thought that real estate licensing requirements (from the state) should be relaxed or eliminated. Pretty bold, huh? Here is what I think the exam should look like.
1. Are you breathing? Y N (if yes, provide proof)
2. Are you a convicted felon? Y N (if no, please provide proof)
3. Are you a citizen or legal resident alien that is allowed to work? Y N (if yes, please provide proof)
Simple and to the point. But...
I think that the NAR should have an exam that is at least as hard as the state exams are currently. The education requirement should be tougher, and there should be an apprentice period. When one is cleared to be a REALTOR, it should mean something. It shouldn't be a gimmee.
Currently, if one asks around, the VAST majority of people think that REALTOR and real estate agent are interchangeable. Even among real estate agents and brokers, I hear the two terms used incorrectly. On another forum I am a member of, I had a debate with someone that swore up and down that membership in the NAR was a legal requirement for licensing in their state. I had to pull the page from that state's licensing requirements to show that there was no REALTOR requirement for licensing.
Currently (here in GA) one can get the license for a couple hundred bucks and a 75 hour commitment to the class. I did the class online, and knocked it out in under two weeks. The hardest part was scheduling the exam (I had to wait almost three months for an opening). Becoming a REALTOR was even easier. I sat through an orientation class and... ta da... I was a REALTOR. Of course, there is the matter of spending a few hundred dollars per year for membership in the local, state and national associations. And, in my case, since I can't just join anything, I have a time commitment to serve on the local association's RPAC.
I look forward to your ratings and comments.
Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey.
I'd love to hear from you...
Here in New Jersey the requirements are much the same. 75 hours class time, pass the test, pay the money and get the license once you get a broker to sponsor you. The broker usually uses the same type of criteria you suggest, Does the person fog a mirror? and Do they look like a law abiding citizen?
I agree to a point that it really isn't hard to become a Realtor if you have the money for all the fees. Staying a Realtor is the trick. Now that the market is shifting we will see how many people repay those fees this year when you have to start doing some real work.
James, I don't want to pick on you... but I will. Did you mean REALTOR or real estate agent?
And thank for the comments. I really appreciate it.
Lane,
I meant REALTOR and was agreeing with you that it was easy to get the designation. It seems to be just a fee to pay. Like all the other designations, ABR, CRS, E-pro, not hard to get but they make you pay a fee for the letters after the name. Some make you keep paying each year. The true agent Realtor or agent is proven through experience and the service they provide thier clients.
Hope this clarifies my response. Happy welding!
Here in Ontario, Canada it is quite involved. To get your initial license you need to complete Phase 1 ($390.00 can be done by internet), Phase 2 ($420.00 plus 60 hours in class or internet), Phase 3 commercial or residential ($620.00 plus 80 hours in class or internet plus 40 hrs in class). You must receive a 75 % mark to pass all three phases.
Then you enter your articling period which lasts two years. During those two years you work under a broker and are required to take 3 more courses ~Other Phase 3 course (whichever you didn't take in the beginning, ie. commercial or residential($620.00 plus 80 hours in class or 40 hrs in class and internet), Real Property Law ($405.00 plus 40 hrs in class or internet) and one from the electives eg. appraisal or mortgage financing ($405.00 plus 40 hrs in class or internet).
After completing all those and articling for two years, you then are a full fledged real estate salesperson and are then required to get 24 continuing education credits every two years forever more.
Jo
Lane,
The NAR requirement is a little tougher than that. We now have to take an ethics class once every 4 years.
Do you know that in washington state if class a convicted felons can become a realtor because i can't seem to figure that out anywhere and i want to get my license.
Thank you
BillieJean