Radical changes coming for CREA

[JDaley]

QUOTE (gwasser @ Nov 19 2010, 10:34 AM) I agree that a good accreditation process is essential. Also maybe a period of training on the job under a more experienced Realtor before the starting Realtor is let loose on the unsuspecting public. Currently the accreditation based on theoretical knowledge is good though not perfect. Adding a required minimum period of working in the real world under supervision of an accredited Realtor would be a definite plus. Other professions demand that too.

All good suggestions that would enhance the image of the profession.

 

[RedlineBrett]

QUOTE (gwasser @ Nov 19 2010, 10:34 AM) I agree that a good accreditation process is essential. Also maybe a period of training on the job under a more experienced Realtor before the starting Realtor is let loose on the unsuspecting public. Currently the accreditation based on theoretical knowledge is good though not perfect. Adding a required minimum period of working in the real world under supervision of an accredited Realtor would be a definite plus. Other professions demand that too.

I`d like to see it require at least two years of post secondary education in some field to get a license. I`d also like to see the board`s continuing education initiatives supported with an additional designation... Like a `professional realtor` (similar to P. Eng) after you`ve been practicing for say five years, and have completed a pre-requisite number of deals. Perhaps one day I`ll run for CREB prez and see if I can push this through

 

[JohnS]

QUOTE (JDaley @ Nov 19 2010, 10:32 AM) This thread has been ruined, what useful information has long been buried thanks to posts like the one above. Your post doesn`t contain anything relevant to the discussion other than name-calling so lets just quit it and move, or lets focus on the issue of part-time realtors (still relevant to this discussion, I believe) and the effect they have on the business. Do you know of part-time lawyers, or part-time accountants, or part-time engineers? I`m pretty sure these guys don`t do either job well and are mostly in it for the quick-buck (it seems that way). And some use this forum simply as a means to promote what small business they do have. The CREA should deal with this issue as a next priority since it gives the pros a bad name.


Oh, how you make me laugh, JD. It`s posts of mine that mention your inappropriate insults that are the problem, and not the insults themselves. I totally understand that logic.

Anyway, moving on to the idea of part-time realtors (which is a good topic to talk about, so thanks for swinging the thread to a more productive line! I`m more than willing to play ball), I don`t really care that much whether mine is full- or part-time; all I care about is that he`s good. The ideas of accredition, though, as expanded upon by Godfried and Brett, are good ones and would help minimize the numbers of the bad realtors, I believe. Godfried talked about a period of time of practical training, but along with a period of time, I would say that there would have to be a certain number of deals, too. I`m not sure what would be both fair and reasonable, though - maybe 2 buying and 2 selling? Or, assuming Godfried`s right about the problems realtors face when starting out, maybe 1 and 1? Any ideas?

Have a good one, all!

JohnS

 

[JohnS]

QUOTE (gwasser @ Nov 19 2010, 12:04 PM) Wow, a long epistle - I guess I need many words to say something that in my eyes is obvious.

Thanks for taking the time to inform us of the problems when starting out, Godfried. I know a lot of us appreciate hearing from a side that we never normally hear.

Have a good one!

JohnS

 

[JDaley]

QUOTE (RedlineBrett @ Nov 19 2010, 01:39 PM) I`d like to see it require at least two years of post secondary education in some field to get a license. I`d also like to see the board`s continuing education initiatives supported with an additional designation... Like a `professional realtor` (similar to P. Eng) after you`ve been practicing for say five years, and have completed a pre-requisite number of deals. Perhaps one day I`ll run for CREB prez and see if I can push this through

Isn`t DeSantis the current president ? I think the CREB & CREA can use new blood. A designation like P.Eng for Reasl Estate agents would add instant credibility and enhance the profession - I`m not sure why the CREB hasn`t gone down this road already - the industry deserves it given the sheer size of it.

 

[gwasser]

QUOTE (JDaley @ Nov 19 2010, 03:06 PM) Isn`t DeSantis the current president ? I think the CREB & CREA can use new blood. A designation like P.Eng for Reasl Estate agents would add instant credibility and enhance the profession - I`m not sure why the CREB hasn`t gone down this road already - the industry deserves it given the sheer size of it.


This is not a CREB issue. It is RECA`s - Alberta`s provincial institution that is mandated to enforce the Alberta Real Estate Act. They set the standards and rules that Realtos must meet and they disciplin Realtor misconduct. It also sets the education curriculum required to become a Realtor.

CREB may arbitrate on issues between two Calgary Realtors but RECA is in charge of protecting the public. CREB`s role is to provide its membership (Calgary Realtors) with the support to become Realtors by offering education for example; it is in charge of MLS for Calgary and it has a seat on CREA. It also provides economic outlook and statistics reports on Calgary; they run the famous Leni (realtor lock) system and sell nice looking Sold signs...

. CREB`s research is mostly based on MLS data many of their reports are downloadable from their website: http://www.creb.com/public/media-resources...-statistics.php

 

[JDaley]

QUOTE (JohnS @ Nov 19 2010, 02:15 PM) Oh, how you make me laugh, JD. It`s posts of mine that mention your inappropriate insults that are the problem, and not the insults themselves. I totally understand that logic.

Anyway, moving on to the idea of part-time realtors (which is a good topic to talk about, so thanks for swinging the thread to a more productive line! I`m more than willing to play ball), I don`t really care that much whether mine is full- or part-time; all I care about is that he`s good. The ideas of accredition, though, as expanded upon by Godfried and Brett, are good ones and would help minimize the numbers of the bad realtors, I believe. Godfried talked about a period of time of practical training, but along with a period of time, I would say that there would have to be a certain number of deals, too. I`m not sure what would be both fair and reasonable, though - maybe 2 buying and 2 selling? Or, assuming Godfried`s right about the problems realtors face when starting out, maybe 1 and 1? Any ideas?

Have a good one, all!

JohnS

Accreditation through advanced courses, formal training and then internship. This kind of training would be instantly recognizable to most as a University or a post secondary degree. Some might scoff at the idea of comparing the training of a RE agent to the other professions, but why not? The industry is huge, argubly one of Canada`s most important, so shouldn`t it deserve a professional class, aside from the lawyers that service it? I think as Brett suggests, two years of Post Secondary training would be sufficient. In engineering for instance, you spend the first year concentrating on general engineering and then spend the next three years specializing - so two years sounds right. Like Law School, there should be RE School.

 

[RedlineBrett]

QUOTE (JDaley @ Nov 19 2010, 03:06 PM) Isn`t DeSantis the current president ? I think the CREB & CREA can use new blood. A designation like P.Eng for Reasl Estate agents would add instant credibility and enhance the profession - I`m not sure why the CREB hasn`t gone down this road already - the industry deserves it given the sheer size of it.

Wow you and I might agree on something else...

CREB hasn`t because they haven`t been pushed hard enough. I suspect the reason is because they sell a lot of courses to people that want to do it part time and the more realtors there are the more people there are paying monthly fees to the board. They count on that revenue more than they should. But they will do as their membership tells them. Unfortunately for the young guard the average age of a realtor in Calgary is over 50 and it will take a while before we see significant changes in this respect.

 

[RedlineBrett]

QUOTE (gwasser @ Nov 19 2010, 03:33 PM) This is not a CREB issue. It is RECA`s - Alberta`s provincial institution that is mandated to enforce the Alberta Real Estate Act. They set the standards and rules that Realtos must meet and they disciplin Realtor misconduct. It also sets the education curriculum required to become a Realtor.

I think they both own the problem because both of them make more money if there are more agents working. Neither has an incentive to see less but more qualified people in the business, even though the public might be better off this way. It is also easier for RECA to justify itself if there are lots of inexperienced agents out there screwing things up.

 

[JDaley]

QUOTE (RedlineBrett @ Nov 19 2010, 03:39 PM) Wow you and I might agree on something else...

We probably agree on most things, afterall we are real-estate investors

and gotta take your hat off to guys who take the chance on a startup and make it work.

 

[housingrental]

Though you might or might not have a useful service, your post is an advertisement and should be moved to the classified section...

 

[Jeffery123]

Nice one, thanks for sharing this.

 

[Thomas Beyer]

Now .. a year later .. what ACTUALLY HAS CHANGED SUBSTANTIALLY ??

 

[RedlineBrett]

[quote user=ThomasBeyer]Now .. a year later .. what ACTUALLY HAS CHANGED SUBSTANTIALLY ??




Very little!



We offer a discount self-representation option with every listing presentation and also a pay-as-you-go model. We advertised this on our streetfront sign on 17th ave and featured it prominently on our website.



Not a very good reception! Most sellers want full agency as they don't want to do the work or pay for expenses incurred while the property sits on the market.



Buyer's brokerage fees have largely stayed the same with the exception of a couple discount brokerages/sellers that don't offer full fees... but their listings continue to languish relative to their competition that fully compensates buyer's agents.

 

[Thomas Beyer]

[quote user=RedlineBrett][quote user=ThomasBeyer]Now .. a year later .. what ACTUALLY HAS CHANGED SUBSTANTIALLY ??




Very little!



We offer a discount self-representation option with every listing presentation and also a pay-as-you-go model. We advertised this on our streetfront sign on 17th ave and featured it prominently on our website.



Not a very good reception! Most sellers want full agency as they don't want to do the work or pay for expenses incurred while the property sits on the market.



Buyer's brokerage fees have largely stayed the same with the exception of a couple discount brokerages/sellers that don't offer full fees... but their listings continue to languish relative to their competition that fully compensates buyer's agents.


That's what I thought .. you get what you pay for .. and the industry was pretty competitive before.

 

[Rickson9]

As a percentage of the purchase price, RE broker fees appear the same in Canada as they do in the U.S.







I would prefer to pay an RE agent an hourly rate like I pay my attorney or accountant. Personally I like how the invoice is itemized because I feel that I get a better idea of what I'm paying for

 

[RedlineBrett]

[quote user=Rickson9]As a percentage of the purchase price, RE broker fees appear the same in Canada as they do in the U.S.



I would prefer to pay an RE agent an hourly rate like I pay my attorney or accountant. Personally I like how the invoice is itemized because I feel that I get a better idea of what I'm paying for




Commissions are completely negotiable. You are free to negotiate whatever arrangement you want. I bet there are lots of agents that would like to be paid per hour!

 

[RealtorDave]

I tried to do some discount commissions, but I found people still expected full service -i.e. why aren't you doing open houses?? I found what I really already knew, you must be selective about your clients.



It makes my life easier. This is my commission. Don't want to pay it, perfect. Good luck selling your home.

 

[gwasser]

[quote user=Rickson9]As a percentage of the purchase price, RE broker fees appear the same in Canada as they do in the U.S.



I would prefer to pay an RE agent an hourly rate like I pay my attorney or accountant. Personally I like how the invoice is itemized because I feel that I get a better idea of what I'm paying for




I bet Realtors would love to make the hourly rates a lawyer or accountant charges. He! What about $450 per billable hour?



Of course, that would probably blow any real estate profit on the property for sale out of the water, especially when the property did not sell after many hours of work.



Think before you speak! (Something I am not always doing either)

 

[bizaro86]

[quote user=gwasser]I bet Realtors would love to make the hourly rates a lawyer or accountant charges



Realtor's might be able to charge what lawyers charge if they limited the supply of Realtors to the same types of qualifications that lawyers have. A lawyer needs an undergraduate degree, a law degree, and an articling period. How does the time/cost/difficulty of getting a real estate license compare to that?



I'm not saying Realtor's aren't important, and their are many competent Realtor's out there. But it's not nearly as difficult to enter the field as the professions.