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February 2008
Index of all
messages
from the Association President
Designations are a great career investment
By David DeElena
Looking for a spark to ignite a great 2008? Consider adding an educational designation to your resume.
The winter season provides a great opportunity to increase your earning potential. You have met and probably completed transactions with agents whose business cards carry an alphabet soup of designations hinting at their extensive education and areas of expertise. The National Association of REALTORS® (NAR) website at www.realtor.com provides plenty of examples and information on the impact a designation can make to your income and business.
Some of the designations that are not only profitable but increase your skills include:
GRI: Graduate, REALTOR® Institute – REALTORS® with this designation earn an average of $33,200 more than those without any designations. The GRI designation covers contract law, professional standards, sales and marketing, finance and risk reduction. GRI classes give the REALTOR® an in-depth understanding of the real estate transaction.
ABR: Accredited Buyer Representative – This designation is geared towards agents who wish to enhance their buyer representation skills, and provides proof to prospective buyer-clients of their proficiency at servicing the special needs of buyers.
ALC: Accredited Land Consultant – This specialization provides an in-depth training into the multitude of issues involved in the buying and selling of land properties. Whether an agent is seeking detailed knowledge of farming, development, recreation or the variety of land uses, he or she will find a unique understanding of land properties.
CCIM: Certified Commercial Investment Member – A CCIM designee is a recognized expert in the disciplines of commercial and investment real estate. The CCIM curriculum consists of four core courses that incorporate the essential CCIM skill sets: financial analysis, market analysis, user decision analysis, and investment analysis for commercial investment real estate.
CIPS: Certified International Property Specialist – This series focuses specifically on the international market. Whether traveling abroad to put deals together, assisting foreign investors, helping local buyers invest abroad, or serving an immigrant niche in local markets, CIPS designees are consumers’ best resources to ensure they are dealing with skilled professionals who know the unique aspects of international real estate.
CPM: Certified Property Manager – CPM classes offer advanced training and expertise in real estate management skills. Training includes studies in finance and asset analysis, human resources, property maintenance, marketing and leasing, risk management, ethics and leadership/business development. Total compensation packages for CPM members can exceed the packages of non-designees by 15 percent and, in some cases, by more than 33 percent.
CRS: Certified Residential Specialist – This is one of the most prestigious accreditations available to the REALTOR® community. Designees on average earn $110,000 and close an average of 26 deals annually. CRS training gives in-depth knowledge in business planning, making listing presentations, negotiating and closing smoother transactions, working in the buyers’ and sellers’ best interest and building a referral business.
SRES: Seniors Real Estate Specialist – Classes in this designation train REALTORS® to meet the special needs of maturing Americans when selling, buying, relocating, or refinancing residential or investment properties. By earning the SRES designation, REALTORS® are prepared to approach mature clientele with the best options and information for them to make life-changing decisions.
These are some of the more recognized designations that you may consider when you decide to increase your marketability to your clients. The REALTOR® profession is little different than others where more education equals more compensation.
Educational designation series allow you to focus on areas that you already work in and enjoy. So invest in your future while increasing your expertise and earning potential. Your clients will notice the difference it makes!
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