Industry Relations
Does the industry need so many REALTORS?
Jan 17, 2024
The podcast discusses the saturation of the real estate industry with REALTORS, examining the number of agents with little to no transactions and the implications. They explore applying SaaS metrics to real estate, the reliance on real estate as a source of income, and professionalism within trade associations. They also discuss the consumerization of real estate, MLS transformation, challenges in leadership and accessible membership, and introduce 'Content in a Box' as a marketing alternative.
56:46
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Quick takeaways
- Stricter regulations or qualifications are needed to improve the professionalism and competence of part-time real estate agents in the industry.
- Part-time agents can negatively impact full-time professionals by taking market share and potentially lowering their income, emphasizing the need to protect the interests of dedicated full-time agents.
Deep dives
Too many part-time agents in the real estate industry
The podcast discusses a recent report from the Consumer Federation about the abundance of part-time agents in the real estate industry. The report reveals that less than half of agents have actually completed any real estate transactions, with a majority of them having zero to five sales per year. This raises concerns about the professionalism and competence of these agents. The podcast highlights the need for stricter regulations or qualifications to become a realtor in order to improve the overall quality of agents in the industry.
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