Rose-coloured market glasses blinding new agents

by Olivia D'Orazio11 Nov 2014
Although some would have you believe differently, Canada’s estate agents’ offices are not paved with gold – it’s tough out there, and it’s getting more crowded – with agents who still have much to learn.
New agents are viewing Canada’s heated markets through rose-coloured glasses, says one agent, and breezy real estate school is only adding to their false sense of security.
“When they get out [of real estate school] – they’re not taking the business serious,” says real estate agent Tony Carnovale. “They think that because the market is still moving it’s a great business.”
Carnovale says a lot of new agents don’t understand the finer points to selling real estate – and that’s what’s tarnishing the collective reputation of all agents. The country’s various licensing boards, as well as the thousands of brokerages across Canada, he says, need to nip that lack of education in the bud by employing a more selective hiring standard and by stepping up their training programs.
However, an anonymous commenter on the REP forum says brokerages will never tighten their hiring standards, pointing to the monthly fees that agents pay.
“For the brokerages it is just a numbers game – the more agents, the better the bottom line,” the commenter wrote. “It’s that simple and as a business, that is what brokerages must do. It is OREA's job to make obtaining a license more difficult.”
Indeed, agents generally agree new sales reps are not adequately prepared for the profession, largely due to a lax school system.
“I think the education part of it has to be tightened,” Carnovale says. “[The courses] have to be in class. And the brokers have to be a lot more responsible for their agents. If they’re going to hire people, they need to train them properly. It should be mandatory that [brokerages] train these agents for four to six months.”
For his part, Carnovale says that being in a classroom setting, having to present an offer to the class and being in easy contact with his instructors and mentors helped shape him as an agent.
“I attribute my success to some of the instructors that I’ve had,” he says.

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