Why is the real estate profession a haven for mediocrity?

1. There are virtually no barriers to entry.
2. Many brokerages are willing to hire anyone who can fog a mirror.
3. The local, state and national Realtor® associations are willing to accept most anyone willing to pay the annual dues.

Isn’t it ironic that with little to no training, someone can become licensed to oversee the single largest financial transaction most consumers ever participate in?The industry needs to create the equivalent of Consumer Reports for rating and ranking real estate agents and brokerages. By working together to define and implement minimum standards of performance, we can dramatically improve the real estate buying and selling experience and go a long way in restoring credibility and dignity to the profession.

My comments have nothing to do with limiting competition and in fact should create more. Educated consumers will seek out agents who can deliver a quality experience not just a listing in the MLS. As a result, Realtors® and brokers will begin to invest time and resources in delivering more innovative approaches to selling homes.