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.

Enhancing professionalism in the industry through stricter criteria and reserving the title of 'realtor' for those who meet certain requirements would improve the overall reputation and credibility of the real estate industry.

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.

Diverse Part-time Real Estate Agents

01:09

Access to MLS and Industry Impact

01:19

Introduction

2min

Examining the Number of Real Estate Agents with Zero or Few Transactions

3min

Applying SaaS Metrics to Real Estate

8min

The Reliance on Real Estate and Different Types of Professionals

9min

Professionalism in Trade Associations

13min

Consumerization of Real Estate and the MLS Act

16min

MLS Transformation and the Need for Fewer Agents

3min

Challenges in Leadership and Accessible Membership, and an Introduction to 'Content in a Box'

2min

Is this industry saturated with REALTORS? Will the part-time real estate agent fall by the wayside? Join Rob and Greg as they discuss industry evolution, challenges in obtaining accurate statistics, and the impact of part-time agents. They reflect on historical decisions, and propose solutions such as restricting REALTOR membership and implementing apprenticeship programs. Listen now to gain insights and thought-provoking solutions for the real estate industry!

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This podcast is produced by Two Brothers Creative 2024.