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Regulators failing rookie agents

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Real Estate Professional | 01 Oct 2014, 11:37 AM Agree 0
Brokers are rebuking licensing bodies, which they claim do little to prepare agents for work in the field, but are unprofessional and unqualified sales reps really the fault of the boards and associations?
  • OLD TIMER | 13 Oct 2014, 04:43 PM Agree 0
    as an 'Old Timer' brokerage houses years ago, when everyone started at 50/50 split and worked up and then returned to 50/50 split at the start of a new year, could afford to be 'picky' on who they hired to represent their firm. Today, with the 100% houses, in order to maintain and pay for the fancy digs of the brokerage offices, they have to: (a) charge higher desk fees, deal fees, etc. AND (b) they need lots of bodies in house to pay the bill through these monthly charges whether the realtor sells or not. It's a catch 22 situation. The answer: The major houses have to tighten their belts. Keep expenses down, which might mean moving to smaller offices with smaller overhead. This way they could both lower their commission rates and be much more 'picky' who they take on as sales people. When I started in the business, most brokerage houses had a self imposed restriction on how many agents they would take on. Because of this, I had to provide a enviable resume and be prepared to work 'full-time' listing and selling real estate. Non-producers were let go quickly. Most of the houses offered great teaching programs to new agents. The in house training offered by Realty World, C-21, Royal LePage was invaluable as a start to a rookie's career. I might add: the training programs were all FREE.
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