During property boom time, a lot of people quitted their jobs to become agents (99% no license type, from my encounters with them). These couple of years, many returned to full time employment due to poor sales.

  How come people in real estate industry has no license yet carry the title 'Negotiator' etc? Why so few went on to study for a degree in real estate management etc. In all other industries, even stock market, one needs to pass proper exams / get needed licenses to operate as a professional.