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February 12, 2012
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Response To: Is Real Estate Ready For Term Licensing? (Peter G. Miller - 02/15/2000)

Serious drawbacks here!
Posted By: Nancy - 02/16/2000 10:53 AM

I think forcing everyone to get a broker's license has serious drawbacks. For example, many salespersons that now have sales license will just hang their brokers license themselves to save the brokers commission split. Will they get the proper insurance and have the proper accounting systems in place?

Having a broker's license is no more of a benefit qualification than hiring a lawyer and thinking that alone makes the person qualified to be a good representative. President Nikon was a lawyer and sure made some great decisions. You would think his qualifications were way above average. Perhaps if he was not an attorney and sought legal opinions elsewhere things would have been better for everyone.

If you want to get rid of part time agents, raising the fees may be more effective. Forcing them to become a broker may not. For some persons, going to schools is a substitute for getting out there and doing it.

Competition in the market place will force more brokers to get to know what their true desk fees are and weed out those who don't produce and/or cause lots of problems. The so-called "new economy" probably will translate into lower broker's commissions and if so, this alone will get rid of in-efficient agents/brokers.


Responses to this Post

Drawbacks?
Posted by: OurBroker - 02/16/2000 11:13 AM


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