In order to operate as a real estate agent, one must be well schooled, then first pass a rigid test by the State in which he/she lives. A license is issued upon passing, and must be placed under a real estate Broker, who pays large sums for malpractice insurance. Rest assured, no Broker will keep a license which will bring a lawsuit on his walls. Licenses for both agent and Broker are renewed and paid for every 1-2 years.
Most states require constant reeducation programs for license renewals, for laws change or new laws are instituted and must be followed.
Most states require constant reeducation programs for license renewals, for laws change or new laws are instituted and must be followed.”
Yes, yes ... but HONESTY is not required. Brokers as well as against have ETHICAL issues and no amount of real estate courses, what is it a measly 6 credits, a state test and working for a broker for a few years to become a broker will stop ANY SHYSTER from THRIVING in real estate. Or for that matter simply to get a license to be an agent. Well schooled? LOL! Any idiot can become an agent or a broker - it’s not a prestigious profession by any stretch of the imagination - in comparing to becoming a lawyer there is some schooling there. Still “schooling”, “tests”,
“licenses” don’t stop creepy people for being what they are - dishonest “prostitutes” for $$$.
The turnover rate for agents and brokers is HIGH so the need to make a buck is even more urgent. It’s an over crowded field that ANYONE can enter.
It’s all about MONEY.
Yes. I was responding to the proposition that if these standards were increased even more they would then produce more 'honest' brokers and salespeople. But as I said, even the long education that lawyers must endure, and their strict licensure rules, and their very vocation of law, does not produce honesty or integrity. In fact, they quite often use their education and knowledge to confuse, dupe or swindle their clients out of money. I have had the occassion to use 6 attornies in my life, and even the more likable of them were absolute scoundrals in how they developed their "time" logs.
So my point is that no matter how stringent any RE broker education and licensure laws might become, it won't solve the honesty or integrity problems. People must be their own best advocates when making expensive purchases, and they especially must weigh heavily the pros and cons of taking out a big loan. In the end it will be their responsibility to repay it.