How can real estate education and training keep up with the changing needs and expectations of the market?

New York is different from many states as contracts must be written up by attorneys to protect all parties. Brokers and agents are needed more than ever to guide buyers and sellers through this challenging time in real estate. There is one factor that will take years to change and that is supply/demand. Why do you think investors are building rentals as fast as they can and gobbling up any single family or multifamily properties they can acquire? They do not want anyone to purchase...

The Real Estate Business has become more about image and less about knowledge and substance. I believe AI will help but the essence is human to human contact. That includes training, listing and selling. Coaching is vital.

From a UK perspective market forecasts are useless. There is no single market. It is made up of thousands of micromarkets because the market is so localised. Two ends of the same street can be in entirely different markets. These markets are also not 2-dimentional and limited to location or geography, they are also cut by price point, property type and ptoperty tenure. The key mantra is know your micro-market.

One thing that has helped me is to get daily mailers from every publication on market data, subscribe to NAR social media (they have excellent, fair and honest information) and stay as current as you can...because your clients read more than ever now.

If the Data is not driven by Liberal Scare tactics and mainstream media, there would be a lot more integrity in the reporting or "forecasting". Realtors deserve to get good information from reliable sources. If information can be supported by data, we would be so much better prepared to advise and guide our clients. We need to do our own research at this point to develop the graphs and trends of our individual markets.

My sense is this statement is not accurate. From my experience as an executive sales coach who previously coached real estate agents, most were clueless about the sales process. Many believed if they opened 3 doors they would make a sale. Others thought it was 100% about marketing and were ignorant of the other aspects within the real estate transaction. Now being a licensed real estate agent and REALTOR who has been listing and selling real estate in NW AZ for over 7 years, I still witness the same behaviors. What is missing is how to educate the potential client, how to share knowledge without sounding pompous or condescending and finally how to apply emotional intelligence within all interactions. Again, just my opinion.

The real world is nothing like the classroom. There should be a lengthy mandatory apprentice requirement for every new agent. The public should Google every agent considered, takes 5 minutes and will give a good idea of things.

Taking initiative and taking educational courses and CE's is incredibly important to stay up to date with the current strategies, trends, statutory changes, and the market. In saying that, recognize that you don't know everything and there will be times when you ethically need to recommend a consultation with an an expert in that area. Part of the job is knowing when your knowledge ends and effectively and responsibly directing your client to an expert on that topic. You'll do a disservice to your client when you don't understand where that line is and it may cost you dearly.

There's been a lot said regarding this education piece.. much of which I agree. However I'd like to add something simple. The fresh, young, starving real estate agent hinders their own learning. Let's start by ensuring that real estate agents aren't putting their needs above that of their prospects and clients. It's hard doing that when you are worried about paying YOUR "rent". Not saying it can't be done, however clients require a well-read, in-the-know Realtor who's dedicated time to learning the process and contracts. The minute the agent is only worried about how quickly commission gets through, that's the minute clients are losing...and we all lose that way.

Coming from a title agency perspective, agents are taught about laws, statutes, and regulations, not how to write a listing agreement or a contract. There should be additional education provided for them to know how to deal with multiple sellers/buyers, title vesting, estates, powers of attorney etc... I can't tell you how many times I've seen contracts that should never have been signed by the person signing as seller. It would benefit agents to have some training in title insurance and how title vesting affects property ownership.

In the rapidly evolving real estate market, education and training must stay agile and relevant. Here's a framework I propose, named "LEAD" (Learn, Engage, Adapt, Deliver): 1. Learn:Continuously update knowledge with market trends and new technologies. 2. Engage:Foster collaboration and mentorship within the industry. 3. Adapt:Embrace innovative methods and flexible strategies. 4. Deliver:Ensure practical application and measurable outcomes. By following this LEAD framework, real estate professionals can remain empowered, knowledgeable, and ready to meet market demands. — Ashwinder R. Singh

This is clearly an ARTIFICIAL intelligence statement. I do agree that agents need more actual intelligence. One challenge is that we are INDEPENDENT contractors (companies within a company). Therefore, as I mentor and train other agents, I am empowering my competitors. This is counterproductive. The challenge is the IRS designation of “employer/employee”. If you want the answer (no matter the question) follow the dollar.

Being a professional and handling your business = referrals = longevity. Agents are taught to annoy every person they know, guilt them into business. Friendship and this type of business rarely work well together.

In addition, consistently collect qualitative data from your target audience and ICPs. Your consumers experience is the cornerstone to optimizing your business operations - marketing, sales, service, etc. Engineer your business based on your consumers behavior and you will ALWAYS have an upper hand in your market.

Real estate education and training can help professionals stay abreast of the evolving market needs and expectations through some key approaches such as industry collaboration and practical application. Industry Collaboration establishes partnerships with industry leaders and professionals while facilitating the exchange of knowledge, ensuring that educational programs remain relevant and aligned with current market practices. Practical application emphasizes unique learning opportunities such as internships, case studies, and simulations which can help develop those pivotal skills that directly apply to the real estate industry.

- Enhanced knowledge and skills - Increased confidence and professionalism - Improved job performance and productivity - Staying up-to-date with market trends and regulations - Enhanced career prospects and advancement opportunities - Increased earning potential and competitiveness - Better adaptability to changing market conditions - Improved customer service and satisfaction - Access to industry networks and connections - Staying ahead of the competition - Continuous professional development and lifelong learning - Increased credibility and reputation - Improved decision-making and problem-solving skills By providing these benefits, real estate education and training can help professionals succeed and thrive in a rapidly evolving market.

Real estate education and training serves as a catalyst for innovation and adaptation. As technological advancements continue to revolutionize the way transactions are conducted, professionals must embrace new tools and methodologies to stay ahead of the curve. Lifelong learning enables individuals to harness the power of innovation, streamline processes, and enhance client experiences in an increasingly digital landscape. As the real estate market continues to evolve, education and training remains the linchpin for empowering individuals to thrive in an ever-changing environment.