Deciphering Those Letters
Originally appeared in Hills Publications, October 18, 1996
We all know what “MD” or “DDS” signify after someone’s name. What about letters like “GRI,” “CRB,” or “CRS” after a Realtor’s name? What do they mean? Is it important for you to know this? Absolutely!
In previous articles, I have given you ideas on how to choose an agent. By knowing what it takes for someone to earn these letters, you will have one more tool to help in your selection.
Real estate designations are granted by institutes, societies, councils and specialty sections affiliated with the National Association of Realtors (NAR), a trade organization with a membership of approximately 720,000 real estate licensees in the United States and its territories.
In this article, I will review the three designations you will most likely encounter as a buyer or seller of residential properties. At the end, you will find a glossary of designations for other real estate specialties.
Residential real estate designations
Basic skills – GRI. The Graduate Realtor Institute title is given to those who have completed specific courses dealing with real estate fundamentals. This ninety-hour series is given as three, five-day programs. It is designed for Realtors with less than five years of real estate experience who wish to expand their field of knowledge. Almost 10 percent of all Realtors nationwide have completed this course.
Advanced residential training – CRS. This stands for Certified Residential Specialist and is a prestigious designation in residential real estate sales. Fewer than 4 percent of all Realtors in the country have achieved this distinction.
The appellation is bestowed on Realtors who have satisfied demanding requirements in both practical experience and advanced education. CRS training is about people and relationships as well as techniques.
Eight two-day seminars are offered, ranging from listing systems (working with sellers), to sales strategies (working with buyers), financial skills to computer applications.
Other educational opportunities, sponsored by the CRS national council and local chapters, are available to designees. I have attended numerous, valuable seminars and regularly receive CRS publications. Such courses and publications are also offered by the other specialties mentioned here.
One other point about Certified Residential Specialists: I enjoy being around them because they are the top producers in our industry. They are serious about what they do. For them, real estate is not a hobby or a part-time job. I always learn and grow by being around these focused professionals.
Office management – CRB. Short for Certified Real Estate Brokerage Manager, it is awarded mainly to those who own or manage a company or office. Less than 1 percent of all Realtors in the nation hold this designation. I earned a CRB when I was vice president and manager of a large residential brokerage.
To qualify for a CRB, I completed five rigorous courses, each lasting three to four days. For some, we had all-day classes followed by group projects in the evening. The format has subsequently been modified.
The fifth class, known as the “capstone” event, was, by far, the most fascinating part of my CRB experience. The group, approximating one hundred individuals, was divided into teams of about a dozen members each. We were provided with a computer simulation of a real estate company, including a roster of agents, income and expense reports, and numbers of branch offices and employees.
We were given limited time to choose a leader, divide job responsibilities and make important strategic decisions, each of which would influence not only the direction and prosperity of our “company,” but all the other companies as well. Frequent computer printouts kept us informed about how our operation was doing relative to all the others. The impact of our decisions was immediately apparent. It was “play-acting,” but it felt real.
Why agents do it
Besides the educational aspects of going for an advanced designation, there are other reasons to do so. I found the personal interactions in the groups and individual leadership styles quite interesting. The experience of getting my designations has given me invaluable perspective in working with both clients and other Realtors.
One other major reason why Realtors join organizations and earn designations: networking. Today, more than ever, effective networking is the difference between those who are successful and those who are not. This is true in many fields, including real estate.
Realtors get together to develop relationships which will lead to future business. The most professional, competent agents do not work out of their area of expertise. I elaborated on this in my article, Use Local Agent. When I meet a buyer or seller from a community I cannot effectively service, I refer the client to a Realtor I trust in that location. Out-of-area agents, likewise, refer to me. This is why networking is so vital.
Final Thoughts
It can take many years and thousands of dollars to receive a designation. Realtors who have earned one or more designations evidence a sincere commitment to their industry and to better serving their clients.
The desire for continuous self-improvement is something that separates the most diligent agents from the others. One unmistakable mark of a real estate professional is reflected by the designation letters after his or her name. Those who have earned the letters deserve your respect and your business.
If you would like a package of my previous articles, including Buyer’s Do’s and Don’ts, Seller’s Do’s and Don’ts, How to Interview Agents and Use Local Agent, give me a call.
Real estate specialties
Designations are also available in each of these different real estate specialties:
Agriculture and urban land
ALC = Accredited Land Consultant Appraisal
RAA = Residential Accredited Appraiser; GAA = General Accredited Appraiser Commercial and investment
CCIM = Certified Commercial Investment Member Counseling to large investors, builders and financial institutions
CRE = Counselor of Real Estate International
CIPS = Certified International Property Specialist Property management
CPM = Certified Property Manager; ARM = Accredited Residential Manager Women’s Council of Realtors and
LTG = Leadership Training Graduate
Related Articles:
How to Interview Agents, Part 1
How to Interview Agents, Part 2
How to Interview Agents, Part 3
How to Interview Agents, Part 4