ReMax 360 Buckeye Lake broker Jacqueline VanDorn has 26 years of experience in real estate.
I believe in the value of my license and the quality of the professionals that enter the real estate industry.
I have never heard anyone complain that it takes too long to become a real estate salesperson in Ohio or we learn too much. So, I was confused when I became aware of an effort in the Ohio General Assembly to reduce education and quality standards in the real estate industry in House Bill 238.
Why are we trying to diminish the level of expertise of salespersons and brokers in our state?
Real Estate standards are being diluted
Real estate professionals need to be well-educated in fair and equal housing and financial services to make sustainable homeownership a reality for all populations. Understanding and communicating agent commissions is also a topic that has created much controversy and considerable risk for agents.
After Ohio allowed online real estate classes, we have seen an explosion of students, which, as of last year, increased to nearly 11,000 real estate professionals in Columbus alone. This is over a 600% increase.
Prospective agents can spend three weeks at minimum tuition cost, take their exam, sign up with an online broker and never leave their home.
I am concerned that standards are being diluted, and removing barriers to learning providers will only accelerate the decline.
Business owners have come to rely on quality sales agents entering my brokerage, but without quality standards, the responsibility will shift to brokers to invest more time and money in preparing salespersons to be successful in the industry and to take on the risk of them not being prepared to do their jobs properly.
Standards matter
I also think it is a mistake to completely remove the degree track to becoming a broker. I appreciated the degree-quality education I received to help prepare me to move into a management career and run my business.
Quality standards included in accreditation for real estate schools are crucial because they provide the necessary knowledge and skills to navigate the complex and ever-changing real estate market. These standards hold schools accountable.
Agents need to understand legal regulations, contracts, market research and appraisals, ethical standards, and industry best practices.
In my experience, students are most successful when they engage in classroom or live, online learning like Zoom.
It appears that Ohio is encouraging more students to sign up and pay for what I call “pop-up” schools that record some classes and sell them over and over again. I would expect that there would be a decline in the preparedness of agents in the future.
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If our state decides to reduce quality education in Ohio, we should expect fewer consumers to complete the education, fewer students to pass the state exam if they do complete the education, and fewer agents to be successful in the real estate industry.
So what exactly are we fixing?
I am proud that Ohio is a state that demands the highest level of integrity from their education providers and we can rely on an institution of higher education to protect agents and consumers from fly-by-night shops that take the money from the agents and disappear.
My real estate license holds value—for me and for my clients.
As the Ohio Senate continues its work on House Bill 238, it impacts all current real estate license holders in this great state and every person who has ever bought or sold a property that they represent. Let’s tread with care on this issue and not come to a conclusion in search of a problem.
