What a surprising tweet -
Thanks to Morgan at Blown Mortgage, I was able to place context to Dr. Yun’s “headline” statement (and suggest that you take the time to watch the whole thing yourselves).
Starting at about 12 minutes in, Dr. Yun says -
“The whole incentive structure is flawed … During the boom … the number of realtors coming into the field … Obviously … you have some shady characters in it …”
The challenge is this; the integrity of the office of NAR economist has been so damaged by Dr. Yun’s predecessor, that picking and choosing when to take the holder seriously presents an enormous obstacle. In this instance, Dr. Yun is absolutely correct.
If we could just get the rest of the Realtor Leadership – from the National to the local level – to publicly recognize this and act to raise entry and continuing licensing and membership standards, we would all be better off. If you feel strongly about this statement, please leave a comment here or hit me up off-line. I’m sitting on a Group at the National Association of Realtors charged with tackling raising Realtor professionalism and would welcome any feedback.
Yun’s admission that his predictions were wrong was refreshing and deserves acknowledgement. Let’s hope he continues on this path.
One thought – God help us, I hope and pray that we learn from this hindsight.
As an aside, I can’t wait to watch the rest of the videos from Inman Connect.