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Real Estate Fight Club

Feb 2021

What Is Real Estate School Missing? EP71

February 1, 2021

On this episode of the Realtor Fight Club podcast, hosts Jenn Murtland and Monica Weakley discuss, what’s one thing that should have been taught in real estate school? There are so many answers to this question!

Episode Highlights: 

  • Though they do agree sometimes, Jenn and Monica have different views on almost every point they debate.
  • Jenn thinks there needs to be real estate apprenticeships for sales and math training.
  • Too many people don’t understand the concepts of cold calling and commissions sales.
  • Just like colleges, real estate school teaches in many different ways.
  • Many agents do not know what they are getting themselves into and end up failing.
  • Real estate schools do not even cover buying and listing presentations, along with a plethora of other steps in the process.
  • Monica and Jenn may or may not be opening a secret underground real estate school in Puerto Rico.
  • If schools did a better job of informing students about the realities of real estate, fewer people would go through with it.
  • Fewer agents in the system benefit the failure rate, current agents, and clients alike.
  • Everyone seems to agree that real estate school focuses more on the test than it does on actually being an agent.
  • Taking the real estate test is too stressful for something that doesn’t translate to being a successful agent.
  • Jenn thinks that brokers should eliminate zero-unit sellers at the end of the year.
  • This week’s tiebreaker, April Spaulding, is a real estate agent with Keller Williams out of Winterhaven, Florida.
  • Prospecting is how you get the business to make the money, yet, they don’t teach it in school.
  • April thinks that cold calling is both old-school and still part of the mix that real estate school doesn’t teach.
  • There are so many different ways to get business that need to be mixed and matched for your market.
  • Geo farming is something that you have to do consistently for 2 years before you can reap the rewards.

3 Key Points:

  1. Many agents fail in their first year because they don’t really know what it’s going to be like heading into the game.
  2. Jenn believes that real estate school should include more sales training while Monica believes schools should paint a better picture of what real estate agents actually need to do.
  3. Even admins have to get the same license as agents so they can show houses, but the problem is, they never actually sell houses. There should be a separate license.

Resources Mentioned: