Before you go looking for the CEI acronym all over the web, I don't think it's anywhere else. I think I just coined it as it relates to real estate. This is a sequel post to the one just before about competence and discounting. You might want to read it so we're all on the same page.a. Look at all the CE courses taken by an agent over a certain period, say two or three years.
b. Count the courses that have to do with marketing, selling themselves, increasing their sphere of influence, building a better web site, lead generation, my personal favorite "overcoming objections", etc.
c. Now count the courses they took that were about land use regulations, planning and zoning, title and escrow procedures, survey, legal access issues, HUD regulations, contract terminology, environmental hazards in the home, listing marketing, etc.
The last step is simple. Subtract the number of marketing courses in item (a) from the business practice courses in item (b). If the result is a negative number, look for another agent.
Consumers are bombarded with articles, blog posts, videos and more that give advice on the best way to choose a real estate agent. Whether buyer or seller side, I would like to propose using this CEI, or Continuing Education Indicator, as an alternative to the questions about number of deals, dollar volume of transactions, years in the business, etc.
What is it then? Here are the steps:
It's probably too simplistic, but it sure sounds like a way to find someone more interested in doing their job well rather than doing more volume.
I love your idea of “CEI” for consumers to evaluate agents. Wouldn’t it be great if CE courses taken by an agent were also public information?
Great idea, Jim! I’ve always been a proponent of education for our industry as a means of better serving our clients. What I found very absurd, however, was that, when Mandatory Continuing Education was instituted, I was required to take some of the VERY SAME courses I had previously taken because they were now required for CE, and, of course, the first time I took them there was no test. Silly me….I took them the first time for the KNOWLEDGE. Frankly, I do not believe that agents should even be given Continuing Education credit for things having to do with marketing, building brand, etc. CE should be limited to studies having to do with better servicing our clientele!
I agree with Judi, I think that you should have credits only for studies that focus on better customer service.
Thanks to Raquel, Judi and FSBO Louisville for your comments. I think we’re a tiny minority in this viewpoint, so talking about it can only help. Thanks again,
Jim