Could principal brokers be doing more to educate new agents?

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“I do test my agents on T1 Generals, notices of assessment, and whether they understand articles of InCorp,” she said. “Your client is not always a straightforward client – it could be business for self, it could be an investor – so the lenders are getting inundated with deals that some agents have no idea [about].

“The course isn’t preparing them to read a T1 General or articles. So, who is responsible for that agent once they come off the course? It’s the principal broker.”

Costa and her team created a two-week academy for new entrants to their business, a program that’s mandatory irrespective of whether an agent has prior experience in the industry or has just completed the course.

That was an effort to ensure that new hires hit the ground running when they join the company and aren’t saddled by inexperience or knowledge gaps as a result of the agent course or lack of education at their previous brokerage.

It also addressed the fact that lenders are frequently inundated with deals that have been incorrectly put together by agents, resulting in a lengthy submission and review process that ultimately sees the deal collapse because it hasn’t been structured properly.

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