Real estate might be a career with great earning potential, but the majority of agents are part-timers because they don’t earn enough from selling homes.

We have an oversupply of real estate agents without enough business to go around. On top of that, there are hundreds of agents who aren’t competent and confident enough to succeed in this industry.

This begs two big questions: could the problem be the standards of the industry? How do we ensure that agents entering the field are not just licensed, but truly equipped to do this job effectively?

From beefing up our courses and tightening exams to broker-provided training, the industry has many options for elevating our agents and increasing the quality of our service. Is it time for real estate to cull part-timers and marginally competent agents? How do we help consumers who have been priced out of buying homes?

In this episode, we’re joined by Senior Fellow of the Consumer Federation of America, Steve Brobeck. He shares ways to make the industry better for both agents and consumers.

If some of the part-timers and people who are marginally competent decide to quit, that's good for everybody else because there’s just not enough business to go around right now. -Steve Brobeck

Three Things You’ll Learn In This Episode

How to make real estate competent and confident The truth about real estate is that there is an oversupply of agents, and many of them aren’t earning a living income. From apprenticeships to tougher tests, what can we do to elevate this industry?
How to keep the dream of homeownership alive One of the biggest challenges consumers are facing is getting priced out of the market. What are some of the measures that are being taken to help?
The future of buyer agency With last year’s changes to buyer agent compensation, can we expect further developments in this area?

Guest Bio

Steve Brobeck is a Senior Fellow of the Consumer Federation of America. After serving as executive director of CFA from 1980 to mid-2018, he now continues research and advocacy on issues including personal savings, auto insurance, burial services, and residential real estate brokerage. From 1976 to 1979, Brobeck was a CFA board member and vice president. He has served on many advisory committees and boards, including from 1990 to 1996, the Board of Directors of the Federal Reserve Bank of Richmond. To learn more, visit https://consumerfed.org/.

About Your Hosts

Tiffany Banks is the CEO and former general counsel of Nevada REALTORS®. Her leadership is defined by a strategic approach to real estate advocacy and a commitment to community enrichment. With over a decade of legal experience, Tiffany guides the organization's direction with a keen focus on strategic consulting, complex legal analyses, and new business development. Nevada REALTORS® has successfully navigated legislative sessions, forging strong relationships with stakeholders and enhancing the community presence through impactful projects. Tiffany’s role encompasses not just operational management, but also driving growth and fostering a culture of excellence within the team and the broader real estate community.

Brandon Roberts is the President of Nevada REALTORS® and Corporate Broker/CoFounder of Signature Real Estate Group. Signature Real Estate Group is a real estate and property management brokerage that has grown to almost 800 agents in multiple states. He has been practicing real estate for over 27 years and has been a broker for 21 of them. Brandon has trained and coached Real Estate brokers and agents all over the country. His state of the art training at the Real Estate Academy has brought new agents to new levels. Making them into multi-million dollar producers within their first year.

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Too Many Agents, Too Little Business: How to Solve Real Estate's Biggest Problem w/ Steve Brobeck