In this week's blog post we want to introduce you to the D.A.N.G.E.R Report or Definitive Analysis of Negative Game changers Emerging in Real estate report. The D.A.N.G.E.R. Report is important to both the consumer and real estate professionals because it discusses the greatest dangers to the real estate industry.
Image Source: D.A.N.G.E.R Report Website
About the D.A.N.G.E.R. Report and who commissioned it
The report itself is broken down by the dangers affecting various aspects of real estate such as dangers that affect: agents, brokers, National Association of REALTORS (NAR), state and local associations and the Multiple Listing Service (MLS). The National Association of REALTORS commissioned Swanepoel | T3 Group (a real estate industry consulting firm) to create the D.A.N.G.E.R Report. The entire 166 page report can be accessed by clicking here.
Image Source: Realtor.org
Did you know?
Often times we hear these three terms used in real estate: REALTOR, Real Estate Agent, and Real Estate Broker but what is the difference and what do each mean?
REALTOR is a registered term that identifies a real estate professional who is a member of NAR and follows their strict Code of Ethics.
A Real Estate Agent is a person who has passed their real estate exam and has earned their real estate license. Each state has different requirements for obtaining your real estate license but in each state there are a number of minimum classes that you must take and you must pass a test as well.
Like a real estate agent, A Real Estate Broker's requirements vary by state but over all they are required to pass a broker's license exam, have more education than an agent and they also need to have spent time gaining experience as an agent. A real estate broker can be a real estate agent but a real estate agent may not necessarily be a real estate broker.
When you think about those three terms think of this: a real estate agent may not necessarily be a REALTOR unless they've signed up for a membership through the National Association of REALTORS. A real estate agent may also not be a Real Estate Broker unless they've had experience as an agent, taken more courses and passed a broker's license exam. A real estate broker can also hire a real estate agent. REALTORS can be professionals engaged in the real estate industry such as brokers, property managers, counselors, salespeople, and appraisers.
Sources: D.A.N.G.E.R Report and Realtor.com
Why we are addressing the Dangers on this report through a series of blog entries
We want to highlight key Dangers that impact our clients and how we are addressing it as a company. We understand that our clients have questions and concerns about who they hire to help them buy or sell real estate and we want to provide as much information about who we are, what we do, and what makes us different.
Next week we will address the Danger: 'Masses of Marginal Agents Destroy Reputation' under the section 'Dangers Impacting Agents'.