I am a first time buyer and I want to know the responsibility or perpose of my real estate agent. I have one already but she seems to know less than I do about purchasing a home. HELP!
That is a problem that I have found with real estate people. they appear to be merely sales people that have been picked up off the street and run through some simple perfunctory classes for a few weeks and then they are turned loose to represent you on the most important financial decision that you will make in your life. A doctor cannot remove so much as a simple hang nail with out 4 years of medical school and 3 years of a residency on top of that . They also must pass a very rigorous licensing exam. Real estate brokers can do far more damage than that doctor removing a hagnail if they make a mistake. Yet real estate agents have almost no training and no real professional standards to speak of This needs to change. I recommend that you contact your Congressperson. Find out if they support rigorous new Federal Legislation to require much more rigorous federal licensing standards and federal licensing requirements for Real Estate Brokers and loan officers who are involved in a purchase or refinance involving a Federally Insured Loan. Federal Licensing will permit much more rigorous Educational, examinattion and training and experience requirements than is now required of real estate agents and real estate lenders. By introducing much more rigorous educational, examination and training requirements and also new tests of character requirements and financial responsibliity when they make mistakes we will weed out many of the frauds and the incompetent and will be left with a much more competent and honest group of people in the real estate industry. .
