Friday, September 15, 2017 / by Cindy Hurley
If you're dabbling in the real estate market, no doubt you've noticed that some Realtors® have designatory letters after their name, implying that they have certifications in certain areas of real estate. Unfortunately, the average Joe has no idea what these mean, just that it makes a real estate agent look ritzy. Here we will explain this enigma to help you with choosing the agent that's right for you and your personal situation. For more information on any of these Designations or organizations, click the links. This list is quite extensive, so we have sorted them alphabetically and added logos for each designation so you can locate what you're looking for quickly.
First, in order to understand these designatons, who is NAR??
NAR - National Association of Realtors®
ABR - Accredited Buyer's Representative®
ALC - Accredited Land Consultant
CCIM - Certified Commercial Investment Member
CIPS - Certified International Property Specialist
CPM - Certified Property Manager®
CRB - Certified Real Estate Brokerage Manager
CRS - Certified Residential Specialist
CRE™ - Counselor of Real Estate™
A Counselor of Real Estate provides intelligent, unbiased real estate advice that achieves the best results for a client or employer. As the most respected real estate specialists in the industry, Counselors work on the most complex and important projects, effectively run real estate businesses, and are known for innovation and creative problem solving. Only 1,100 practitioners throughout the world carry the CRE™ designation. Membership is by invitation from The Counselors of Real Estate only.
GAA - General Accredited Appraiser
If you're considering buying a house, there are two sides to the story: the seller's asking price and the actual value of the property. This is where the appraiser steps in, so you want a good one. For general appraisers, this designation is awarded to those whose education and experience exceed state appraisal certification requirements. The requirements to receive this designation include a minimum of 1000 hours of appraisal experience beyond state certification requirements, as well as completion of 60 hours of tested course work beyond the Appraiser Qualification Board's education requirement to become certified. This designation is presented by the National Association of Realtors®.
GREEN - NAR's Green Designation
GRI - Graduate, Realtor® Institute
PMN - Performance Management Network
This designation is presented by the Women's Council of Realtors®. It focuses on negotiating strategies and tactics, networking and referrals, business planning and systems, personal performance management and leadership development. To me, this says great organizational skills and a good plan for executing your real estate agenda with efficiency.
RCE - Realtor® Association Certified Executive
The RCE designation exemplifies goal-oriented association executives with drive, experience and commitment to professional growth. It is designated by NAR and involves additional education as well as professional development activities and acheivements. The Realtor® must also pass a 3 module exam earning a 75% or better in order to receive the designation.
RAA - Residential Accredited Appraiser
The RAA and the GAA are the only two designations for appraisers supported by NAR. For residential appraisers, this designation is awarded to those whose education and experience exceed state appraisal certification requirements. As I stated before, it's a good idea to have a well seasoned appraiser on your side.
SRS - Seller Representative Specialist
This one is pretty obvious if you know what it stands for. If you're selling a property, it would benefit you to find a Realtor® with the SRS designation. They have extensive experience and education specifically in selling properties. This designation is awarded by REBI.
SIOR - Society of Industrial and Office Realtors®
The Society of Industrial and Office Realtors is a commercial Realtor® association. If a Realtor® has this designation, it means that they are a member of this association and are recognized by corporate real estate executives, commercial real estate brokers, agents, lenders, and others as the "most capable and experienced brokerage practitioners in any market." Learn more about this designation at www.sior.com/about
SRES - Seniors Real Estate Specialist
SRES Realtors® specialize in the needs of one of the fastest growing markets out there, the 50+ crowd. These agents are educated to profitably and ethically serve seniors. This designation is awarded by the SRES Council.
We hope that this list was helpful to you! Of course, some designations are more commonly seen than others, as a Realtor®, I myself was unaware of several of these Designations. keep in mind, a Designation is not the same as a Certification. What is the difference, you ask? The simplest answer is that a Realtor® pays annual dues to hold a Designation once the educational requirements are met. Certifications are earned by meeting educational requirements and paying a one time fee. More info on Certifications soon to come!
Thanks for reading and best of luck to you on your endeavors!