Drunk on alphabet soup
Agent designations, certifications explained
By Mary Umberger, Wednesday, March 17, 2010.
Flickr photo by Hobbes vs Boyle.Like a sea of medals on a general's chest, many real estate agents' business cards are festooned with initials after their names.
Agents may boast about such designations or certifications as ABR, SRES, GRI or a host of others intended to be a testament to expertise they bring to a home-sale transaction. However, there are so many of them that they may be alphabet soup to the average consumer.
The acronyms usually represent coursework focused on a single aspect of real estate, such as transactions involving raw land, foreclosures or international properties, explained Colleen Ryan, manager of education services for the National Association of Realtors.
Or, she said, they may indicate broader specialized coursework in residential transactions (as opposed to commercial real estate, for example) or working specifically with homebuyers (as opposed to sellers).
Adding to the potential confusion, within NAR there's a difference between a certification and a designation. "Designations have additional requirements that need to be met, in addition to the coursework," Ryan said. "The coursework is also more detailed and longer in terms of the number of hours that must be completed.
"Designations also have a dues/membership fee attached that must be renewed to keep their membership current," she explained.
The NAR offers courses leading to nearly two dozen such designations and certifications, though many of them deal with such interests as appraisal or brokerage management, rather areas that directly touch on consumer issues.
And though NAR-sponsored courses dominate the acronyms, other real estate organizations also bestow certification in such things as green building and home staging.
The courses vary widely in their requirements, from an afternoon to several days; many of them are offered online now, an option that's particularly popular with younger agents, Ryan said.
Whether these accolades necessarily benefit consumers is something that even agents themselves argue about -- sometimes hotly -- given the broad disparity in the depth of the courses and whether coursework actually translates into experience.
(The Realtors suggest, at least, that the completed courses translate into earnings. The trade group cites a 2009 survey that says the median income of agents without designations was about half that of agents with at least one designation.)
Nonetheless, consumers who have little background in the world of real estate agents probably couldn't parse a CIPS from an RSPS. A quick guide to some of the letters they might encounter in the Acronym Jungle: ...CONTINUED
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Submitted by Peter C. Fyler on March 17, 2010 - 4:19am.
Hi Mary,
I guess some licensees may argue against education (culminating in designations and certifications), but I am a firm believer in getting as much education as possible --- all the time. When I entered this business I vowed to be the best and most professional person I could be, and that was over 20 years ago. Next week I am taking the core course in preparation for my SFR Certification, and I already hold an LMC Certification. I also am proud to hold the first six titles you listed in this article. It is my opinion that GRI should be mandatory for all agents, and anyone intending to represent buyers, be it in a traditional brokerage or as an exclusive buyer agent such as myself, should take the ABR course. Knowledge is Power!
Peter C. Fyler, CRS, REALTOR®
SplitRock Real Estate, LLC
Exclusively Representing Buyers
Martha's Vineyard, Massachusetts
BuyersOnly@SplitRockRE.com
http://www.SplitRockRE.com
Submitted by Sandra Mathewson on March 17, 2010 - 5:37am.
Mary,
I hold several designations and have done so for many of the same reasons as Peter. Maybe the consumer doesn't know all of them or doesn't care, BUT other Realtors do. I receive a lot of referrals through my franchise's network and the referring Realtor always comments they chose me because I have a particular designation(s). The referring Realtor wants the client to be taken care of. The Realtor they chose will be a reflection on them also.
I too just took the core course for the SFR Certification.
Sandra Mathewson, ABR,CRS,GRI,CNHS,RCC
RE/MAX Complete Realty
Sparks, Nevada
www.SoldOnFernley.com
Submitted by Ron Taylor on March 17, 2010 - 5:43am.
Ron Taylor CDPE,GRI,ePRO
Associate Broker
Solid Source Realty
Mary,
In my 36+ years I have held designations as ABR, CDPE, CRB, CRS, CSP, RFS, GRI and ePRO Certified. Because of the annual fees I have discontinued most of them. I would like to correct one item in the article. There is no annual fee for GRI and it is probably the most beneficial of all education wise. I was a Realtor for 10+ years before attending the GRI classes. I should have gone the first year.
Submitted by Spring Haigler on March 22, 2010 - 5:29pm.
Out of the designations and certifications mentioned here in this article, I believe being a CRS is the most beneficial and best in on-going education. GRI should be mandatory for all agents, but CRS courses are definitely a higher level of real estate education. If you work in commercial real estate, CCIM is a must in my opinion.
Submitted by Missy Caulk on March 23, 2010 - 8:31am.
ditto for me, I only use GRI and e-Pro. No renewals. I have 2 CRS down and need to finish the 3rd one.
Missy Caulk
Ann Arbor, MI
Missy@MissyCaulk.com
www.AnnArborRealEstateTalk.com
www.SearchAnnArborHouses.com