The year was 1993, The United States was on the road to recovery from a cruel recession which peaked in 1991 and steadily began to get better. In some ways, 1993 reminds me of, but the most recent one is worse, oh yes, but we are improving. A strong foundation of home building knowledge is well established, already having constructed several subdivisions, hundreds of single family homes, town homes and condominiums in four states in collaboration with a number of different home builders from Colorado, New York, Maryland and Virginia.
Builders are all diverse, just as state laws, school districts, location metrics and appreciation potential. It took seven years to feel prudent. As the years went by, a particular disturbance developed as regards to the general brokerage community at large, categorically albeit surely not exclusive. This is sad but true - there is completely no relationship between one's understanding of the industry and acquiring a real estate license. After a rigid parochial higher education, the real state exams were marginal at best, not so much the broker's exam, but certainly agent level testing. This I found correct in the four states of Colorado, Virginia, Maryland and New York. I thought to myself, this examination process is ridiculous, not only inapplicable to the practice, but elementary, indeed the average grade school-er could make it. This ease of licensure unfortunately produces agents that should select an alternate career. If I ask the better agents what percentage of licensed agents they think are well-resourced to do the job, typically the answer is about 15%.
Finally, the state of Virginia required a GED equivalency to sit for the real estate exam just last year. Sorry, this negligible education requirement not only serves the consumer inadequately, it also harms the truly knowledgeable professional who must consistently navigate stigmas associated with consumer's previous regrettable experiences with lenders or Realtors. How can people appropriately assess as they do not have much viewpoint, I mean, how many homes does one buy or build in their lives? Therefore, it's a challenge to be able to distinguish ability, ethics and first-rate single family, town home or condo investment recommendation. On the other hand, I can conversely restate, the top 15% of the profession are unmistakably some of the most extraordinary business people, be it promotional skills, work ethic, intelligence, negotiation skills, ethical practices, professional qualities and real estate industry associates.