An Apprenticeship - Does it make sense in Real Estate?
The Division of Real Estate's mission is to protect the public by regulation of real estate and appraisal licensees through education and compliance.
In this beautiful sunshine state of Florida, all you need is a high school diploma and you are well on your way to your new real estate career. I remember when I took my 63 hrs pre-licensing course in real estate, it was taught in a class room setting; lessons in history of the Division of Real Estate, real estate terminology, etc were given. However, I really would have loved for the instructor to include some practical teaching, such as how do you measure the square feet of a home, or how to do a CMA - how about you?
After passing the course with its final exam, I took the Florida real estate sales associate state licensing exam and I was given the license to be a professional real estate sales person. I was licensed to sell and/or buy real estate representing sellers, buyers, landlords or tenants - their most prized possession of a home owner.
Would an apprenticeship in Real Estate be sufficient to gain experience to become qualified to represent clients or customer for real estate purchases, exchange or buying? The experience of working for a period of time or perhaps a number of transactions under a "Master Real Estate Broker" would prepare a future real estate agent to be qualified and will certainly give the real estate practitioner the confidence representing his or her clients and customer in future transactions. After finishing school in Germany, I was an apprentice for two years in a grocery chain learning everything there is to know about being a Merchant and the products sold. It is my opinion that an apprenticeship will clearly improve the real estate agent's ability to serve its clients.
While an apprenticeship program would surely weed out and reduce the amount of application for practicing real estate, however, would such program weed out the good and the bad apples of real estate agents?
Does it make sense to have an apprenticeship program in real estate? What do you think?
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An Apprenticeship - Does it make sense in Real Estate?
Petra Norris - Realtor®
Licensed Florida Real Estate Broker
CDV TransAtlantic, Inc.
P.O. Box 92050 - Lakeland, FL 33804-2050
Telephone (863) 618-6919
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
I believe there will always be good and bad apples in any profession. However, the apprenticeship idea is a good way to get more serious agents in the business.
Petra, I think an apprenticeship program in real estate would be awesome!!! At a minimum you should have to have a certain amount of transactions before being allowed to be a broker. I personally know brokers who have NEVER sold a property. Something's wrong with that picture!!!
In Colorado any associate broker ( agent) with less than 2 years experience is not allowed to have their own Company, and are to be supervised by their Broker. I have 2 great managing Brokers, and I would hope that everyone did - but that might not always be the case. You are also required to pass an additional exam AND have a minimum 2 years to be a Managing Broker. So it seems that in Colorado we have a "sort of" apprenticeship program.
Hank - True, there are good and bad apples in every vocation.
Bryant - Absolutely, but what can be done to change that and if so, will the FAR take charge?
Mary - Thank you for your comment about Colorado's "apprenticeship program". Is experience based on the transactions and/or where the associate broker hangs their license and has no transactions?
I haven't thought about that type of program, not sure if the NAR would support it. The basis of working as a subcontractor allows the current system to be in existance. One could say that an apprectice is truly under the wings of someone else and that person would be liable. Possibly the company as well. Further more, any attempt to reduce the number of agents will be met with attacks by the government (license fees) and large brokerages (less possible commissions)
Truly realize there is no desire to better the real estate agent by others, it is all lip service. Its numbers baby
My state is moving to a limited sort of program that will help agents gain experience. Anything that puts more knowledge on the floor and results in a better level of service is a good idea.
However, you could argue that such a program as you suggest is simply an attempt to limit membership in the group... example...the Guilds in the middle ages were both an attempt to keep skill levels high but also an attempt to limit the pool of skilled providers thereby assuring higher wages... hmmmm have we gone backwards?
Hi Petra, I checked the Regs - and no, I don't see where a Broker's license is based on the number of transactions.. I'm finding it hard to believe that someone would pay the licensing fees, pay the required annual E & O policy premium, take all the required continuing ed classes, and then pay for the Brokers exam, without ever doing any business...but, I guess it's possible. What agent would want to work for that kind of Broker anyway?
Dale - I do appreciate your comment and your thoughts. Working under a so called well qualified "Master Broker" for a period of time, in my opinion could be the best method to dilute the population of real estate agents and somehow gain the respect back from buyers and sellers alike, which is surely missing for some time now.
Perrin - I don't think that we have gone backwards. I think such program could be implemented or the licensing requirements should be made more rigorous.
Mary - I appreciate you checked your regs. I do know it is possible to become a broker without a single transaction. Scary, isn't it?