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I am interested in Agent, Broker and General Public remarks to this.
First, there are Real Estate Agents and there are Real Estate Brokers. Do you, as the general public, understand the difference? And does it mean anything to you? How much?
Second, not all real estate agents are Realtors. Are you aware of this difference and does it mean anything to you? If so, what?
Third, agents are encouraged to get specialized education, that leads to certain designations. Some of those designations are:
ABR - Accredited Buyers Rep.
GRI - Graduate Realtor Institute
E-Pro - Specialized instruction in using today's technology.
SRES - Seniors Real Estate Specialist
CRS - Certified Residential Specialist
There are more, but these are the most common. Most agents will have these on their business cards, or on their website. They usually use just the acronym's after their name. Do you ever ask what they mean? How important are they, would they, be to you?
Anything else you want to add would be appreciated.
Good question Shelley. I've had a few people ask me what the GRI means behind my name. It seems to give them a little more confidence. I suppose CRS will be next for me, but the fees....$200 + per class--yikes. In my state we need to do 16 hours of continuing ed every 2 yrs. My last GRI class counted for 16 hrs this round. I'm trying to time CRS to get the most "bang out of my buck" in terms of continuing ed. If not that, then I'll do the class for my broker's exam--probably cheaper than the CRS.
I'd also like to see if the public at large cares about or knows the differences between designations and what they mean.
Personally, I haven't ever had any non-licensed person ask about or request a designation. I do however look for designations when researching someone to refer a relocation client to. If I see CRS they jump to the top of my list...along with how involved in the real estate community they are, like WCR and so on. To me it shows a commitment to the profession and someone that goes the extra mile.
That being said...I don't have any designations Haven't needed them yet, but I do plan on going to their official classes and getting some certifications as soon as the opportunity arises.
I agree Greg. I am interested in how the public perceives these designations. and we are here most every day, helping the pulic with our suggestions and thoughts, and I was thinking they may be willing to give us some feedback as well!! So come on guys... tell us what you think!!
Ok, I'll bite. I always thought a broker is the one who owns and/or runs the agency. I also thought that by hiring a broker, they would be able to negotiate a commission since agents usually have to give a share to their broker.
I'm stumped on #2 and would love to know the answer. You can PM me if necessary.
As for the designations, I've found that GRI & CRS are the most "popular". My impression is that these people are more dedicated to learning more about their career, thereby being able to offer more specialized services & knowledge to their clients.
I am interested in Agent, Broker and General Public remarks to this.
First, there are Real Estate Agents and there are Real Estate Brokers. Do you, as the general public, understand the difference? And does it mean anything to you? How much?
Second, not all real estate agents are Realtors. Are you aware of this difference and does it mean anything to you? If so, what?
Third, agents are encouraged to get specialized education, that leads to certain designations. Some of those designations are:
ABR - Accredited Buyers Rep.
GRI - Graduate Realtor Institute
E-Pro - Specialized instruction in using today's technology.
SRES - Seniors Real Estate Specialist
CRS - Certified Residential Specialist
There are more, but these are the most common. Most agents will have these on their business cards, or on their website. They usually use just the acronym's after their name. Do you ever ask what they mean? How important are they, would they, be to you?
Anything else you want to add would be appreciated.
Thanks for you time.
Shelly
As someone on the finance side... I'm not a broker but have run a company.
I am quite familiar with the difference between an agent and a broker. Essentially two levels of licenses, and agent has to be listed under a broker's license. The broker isn't always the owner, but they are the one who is responsible for compliance, and are held accountable by those working under their license.
A REALTOR, is someone who belongs to the Realtor association right? I have my real estate license, so in theory I'm an agent as I can create an agency relationship, but I am not a member so I can't call myself a REALTOR.
The third part, I had zero idea about and hadn't ever heard of the designations. It's logical to think that there is training out there to learn portions of the business, however I never knew it was something that was uniform and created certifications of sorts.
Looking at it from the standpoint of myself as a consumer. If the designations were not just three letters on a card, but they were advertised and easily understood, I would be more comfortable and probably select a Realtor who has taken extra classes. It would show a higher level of professionalism, and I would likely trust them more.
So, if I understand the background reasoning of the post, I personally would say figure out a way to push your designations so they are obvious to prospective clients. The easiest way is to do business cards that are front and back. Your basic business card on the front, with your personal catch phrase, certs and qualifications on the back.
As part of the general public I haven't got a clue what the difference is and can't honestly say that I have ever noticed any letters after a name on a realtor's business card. I just looked at the slew of cards I have here on my desk, and none these folks have any letters after their name.
I am guessing I don't much care. I have bought and sold several homes and never needed to know.
I have to agree with Evey...I really don't pay attention to designations when it comes to residential real estate agents. However, I didn't know not every agent was a Realtor. What's the difference between an agent and a Realtor, shellytc?
I also thought the broker ran the office and was in charge of his/her realtors. I didn't know there was a difference between Realtors and real estate agents.
As far as the designations, I have noticed them on cards and websites. But , honestly it didn't matter to me. I didn't know what they meant . I assumed they meant extra education. I am just interested whether the realtor can get the job done with or without the designations.
Every agent is a real estate agent, but not every agent is a Realtor. You have to go to school and you have to take your tests and pass them to be considered a real estate agent. To be a Realtor, you have decided to join NAR and abide by the code of ethics.
There is controversy, as some agents / brokers say I don't need a lobbying organization to tell me to be ethical. However, there is an organization that you, as the public, can go to for unethical behaviour if you are working with a Realtor, and this is your local Realtor Board. If the agent is not a realtor, they are not a member of the board and that organization has no oversight over them.
That is why you will notice that most of the professionals on this board will refer to your agent as your real estate agent or REA, not a Realtor. We don't know if they are or not.
That is rather simplistic, and I am sure on this board we have a mixture of Realtors and non-Realtors that will discuss this further.
By the way, the correct pronunciation of the word Realtor is Real-Tore. It is not Real-A-Tore. There is no such thing as a realatore. (just an fyi.)
I would like to see this thread continue. Anymore comments on the designations?
Thanks for the comments so far!!
shelly
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Haven't needed them yet, but I do plan on going to their official classes and getting some certifications as soon as the opportunity arises.
