The last decade has seen the birth and rise of various real estate professions in Romania. Of those professions, real estate agents have drawn the most notoriety. Unfortunately, it was a negative notoriety caused by a significant lack of understanding about the fundamentals of how this profession adds value in the market.
At present, we are witnessing a major shift. The current economic crisis caused a significant “deflation” in the number of individuals able to economically sustain an intermediation practice. Many of those who are able to survive are turning to fundamentals for the first time. Is education enough to save their practice? We argue, sadly, that the answer is no. This presentation will reveal why.
For a professional to add value beyond what a non-specialist is able to achieve on his/her own, education must be combined with specialized tools. Doctors, architects, engineers, economists, accountants, and many other professions exist as specialties because they bring higher value added. They do so through a combination of domain-specific education and domain-specific tools. Real estate professions currently lack the most basic tools that would enable practitioners to bring higher added value.
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