Regulating Real Estate Agents
There’s an author named Lawrence Roberts arguing that real estate agents should be regulated like financial advisers.
I don’t quite know what that means - I think there are some lousy, unethical, and dumb financial advisers out there, and they sell some fee-loaded products…so obviously the regulations aren’t doing much good.
That said, a house is the largest purchase most Americans will ever make, and the barriers to entry for the profession of real estate agency are limited. It’s just too easy to get a real estate license. I’d like to see the requirements pumped up, and not just with banal legal quizzing but with real skill based questions about market facts and trends. I’d also like to see an entirely separate license for residential and commercial agents. I see too many commercial users done a disservice through incompetent advice by a residential agent.
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Tags: real estate agent
