Make the Licensing Process Tougher

Many of us in the real estate business have been lobbying NY State for years pleading with the powers that be to make the process of becoming a licensed sales agent more difficult.
Currently, thousands and thousands of candidates take the 75 hour course each year, take a class exam and then a significantly easier State exam and poof, they are licensed professionals.

That's when the problem begins. Many of these newly licensed professionals have never worked in a sales environment before, have no knowledge of finance which is so crucial in a sales transaction, don't have the proper communication skills to be able to carry on a conversation with an attorney or mortgage professional.

The average apartment in Manhattan right now is selling for $1,200,000. That means that the average buyer is successful, professional, educated and well read about market conditions. Shouldn't his real estate broker be too?

Selling Coops and Condos in Manhattan is a tough way to make a living, its only made tougher when students get licensed with a minimal amount of knowledge and a lot of hope that things will work out. They usually don't and as a result this is one of those businesses where 20% of the agents make 80% of the money. It doesn't have to be, but the first step is up to New York State.