Connecticut Real Estate Blog - Real Real Estate in CT

You only need a pulse to become a real estate agent (and a driver’s license but that’s easier to get than a pulse).  But just because the state of Connecticut and the industry have such low requirements does not mean that to become and stay a successful agent you don’t have to put in some extra effort.  What makes me write about this topic is that I’m beginning a fairly intensive period of training (intensive for a new mom, business woman and very active volunteer) and the topic is rattling about in my head.

On Monday, I begin my training to obtain one more of the National Association of Realtor’s designations, called GRI (Graduate of the Realtor Institute).  The education is great but in order to use the designation, I’ll probably have to fork over another $100 or so per year, in addition to the ABR (Accredited Buyer’s Representative) designation I have to pay to use.  In return, I’ll get a skimpy newsletter - lucky me. 

One note - attending these classes is always entertaining for me.  As an exclusive buyer’s agent, I’m, as the saying goes, the redheaded stepchild.  Everyone else in the room will have taken listings (except me), will have “sold” a house (except me), will have their picture on their business card (except me) and likely work for a major brokerage (except me).   Like a monkey in the zoo, I’m interesting to look at from afar but don’t put your hands in the cage. 

And two weeks from Wednesday, I also start my first set of classes toward becoming a broker (more fees, too).  I’m not sure I want to be a broker but I’d at least like to have the option and the training under my belt.

Here are some thoughts on agent education (by me and others). 

• The Phoenix Real Estate Guy has a great post called On Being a Real Estate Agent.  In his post, he compares the number of classroom hours certain professions require of their licensees.  In Arizona, real estate agents need 90 hours of Principles & Practices while a Nail Technologist needs 600 hours of education.  Connecticut sets the bar even lower - only 60 hours of education are required. 

It was actually only 30 hours when I became an agent three years ago.  Did I say pulse?   The education requirements are pitiful and are only there to ensure people can pass the test and hand over their money to the State of Connecticut.  What happens after that is someone else’s problem. 

• The Wall Street Journal reported that since the market’s been levelling off, some agents are calling it quits because they just aren’t making any money.  Since the 1990s the number of agents has doubled  - too many agents, not enough experience.  Brokers have hired more agents than they need because it doesn’t affect them if the agent fails.  And the National Association of Realtors was very happy to collect money from members. 

While I think having to pay to use the various Realtor designations is a scam (perpetrated on me by other Realtors, no less), I was surprised to see how few agents obtain designations.  According to the most recent statistics I saw only 18% of Realtors obtained the GRI, 11% the ABR and 9% the CRS.  Many of these are probably the same people, obtaining multiple designations (like me).

I was surprised because many brokerages don’t offer in-house training.  Or, if they do, it’s limited in scope.  How do agents communicate to prospects that they have more than a pulse?  The bar is set so very low for real estate agents that it’s up to agents to prove to consumers that they have achieved something worth paying for.   I, for one am going to fork over my $100 or so to the National Association of Realtors so I can keep on using my ABR designation and hopefully add GRI to my title. 

UPDATE:  I’m not smart yet…my class for today was cancelled because of the snow.