Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Agent under-training a financial disaster waiting to happen

By Craig Gillies
05 February 2015 | 1 minute read

We, as an industry, need to overhaul our training and education standards.

Today you need more training to paint someone’s house than to become licensed to sell it.

This is damaging the reputation of our industry.

Advertisement
Advertisement

Government-approved accreditation courses can be as short as two days. It’s no surprise this leads to under-qualified and potentially incompetent agents being let loose on the market - it’s a financial disaster waiting to happen!

It seems farcical that agents can qualify for accreditation with such little education.

For our industry to survive and thrive, we must review our training, education and accreditation standards.

When houses were once worth around $80,000, an agent’s commission didn’t represent a significant amount of money. Today’s average sale value of $560,000 means the stakes are much higher for buyers, sellers and our industry.

With the rise of digital platforms that take care of the transactional side of our business, we need to offer more rigorous standards of service or risk facing extinction.

These same digital platforms offer clients the opportunity to broadcast complaints of poor service, or sing our praises, which is even more reason for the industry to adapt.

Let’s face it – real estate agents can cop a bad rap and clients will start to question our industry commissions for the value we provide, unless we change the way we operate.

Yet most agencies and governing bodies still approach real estate training and education in the same way.

There are many solutions being put forward, including the introduction of state-based training units that newcomers would need to achieve to qualify as an agent, TAFE courses and even university degrees.

At Coronis, we believe in the partial self-regulation model. We’ve provided quality, ongoing training for our staff for many years now.

On top of the required government courses, our sales force is trained in theory and practice. They are on the job for months before they are allowed to go it alone to list and sell a house.

It’s quite ridiculous that there are agents out there who can qualify for accreditation with such little education. I mean, you wouldn’t give a learner driver the keys to your Ferrari … would you?

Agent under-training a financial disaster waiting to happen
craig g040215 intro
lawyersweekly logo

Feeling burnt out? The newest event to hit the industry, REInnovate, is a must-attend for serious real estate professionals facing the pressures of a heavy workload. Get ready to walk away with the undeniable structure for success, efficiency and profitability, and get yourself back on track to focus on what’s really important for your business. Get your early bird ticket now.

Tags:

ABOUT THE AUTHOR


Craig Gillies

Craig Gillies

Craig Gillies is the sales director at Coronis. He is an adviser to some of Brisbane's well-known property developers and a regular commentator on the real estate industry. Every month his team sells on average four times more than the industry benchmark. With offices across Brisbane, Sunshine Coast and the Gold Coast, which incorporate teams of finance specialists, financial planners and lawyers, Coronis is changing the way people buy, sell and finance property by being the first and best wholly-owned ‘end-to-end’ property-based business.

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Boomerang Beach
66.67%
Gnarabup
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.