The ABCs of working with a REALTOR

It is common knowledge that an "M.D." after a name denotes that the individual is a medical doctor, "CPA" indicates a certified public accountant and "Esq." follows an attorney's surname. However, did you know that REALTORS commonly have initials following their names? These initials indicate that the REALTOR has earned a designation, which means they have specialized training in a specific area of real estate. Often consumers are unaware of what a REALTOR’s advanced knowledge in a specific field can do for them and their specific needs as customers.

It should be noted that only REALTORS display REALTOR designations. REALTORS differ from real estate licensees in that they are members of the National Association of REALTORS and abide by a strict Code of Ethics. While obtaining a real estate license is necessary to practice as a real estate salesperson, membership in a REALTOR association is voluntary. Although it has become common practice to substitute "REALTOR” in place of "real estate agent," they are not one in the same. The REALTOR is held to the aforementioned Code of Ethics. A licensee is not.

Obtaining a designation is not an easy task. REALTORS must take hours of classes, followed by stringent exams. In some cases, the REALTOR must then provide proof of completed transactions in the field that they are pursuing before receiving the official designation. This ensures the public that they are dealing with seasoned professionals in the specific arena in which the REALTOR presents himor herself.

Members of the REALTOR organization have the opportunity to expand their knowledge on a variety of topics, from commercial investment to buyer representation. By knowing what the REALTOR designations stand for, you can make an informed choice on the REALTOR that you select that will better suit your real estate needs. The following is a list of the REALTOR designations that will help you the next time you decide to buy, sell, or lease residential or commercial real estate:

ABR - The Accredited Buyer Representative focuses on every aspect of buyer representation, from discussing

your wants and needs for a new home to negotiating with the seller in areas such as price and closing dates.

ALC - Accredited Land Consultants are the recognized experts in land brokerage transactions of five specialized types: (1) farms and ranches; (2) undeveloped tracts of land; (3) transitional and development land; (4) subdivision and wholesaling of lots; and (5) site selection and assemblage of land parcels.

ASR The Accredited Seller Representative services the seller. This designee is trained in negotiations and in working with the buyer's representative.

CCIM - Certified Commercial Investment Managers are recognized experts in commercial real estate brokerage, leasing, asset management, valuation and investment analysis.

CIPS The Certified International Property Specialist designees have demonstrated their international experience and participate in international education programs. CIPS designees have a record of working with clients from different countries or cultures. CPM - Certified Property

Managers participate in all areas of real estate management from residential to commercial to industrial.

CRB The Certified Real Estate Brokerage Manager designation is recognized industry-wide as the measure of success in brokerage and real estate business management.

CRS The Certified Residential Specialist designation is awarded to experienced REALTORS who complete advanced training in listing and selling.

CRE The Counselor of Real Estate is a member of The Counselors of Real Estate, an international group of recognized professionals who provide seasoned, objective advice on real property and land-related matters. Only 1,000 practitioners throughout the world carry the CRE designation. Membership is by invitation only.

GAA The General Accredited Appraiser designation is awarded to appraisers whose education and experience exceed state appraisal certification requirements.

GRI - While obtaining a real estate license teaches an individual the logistics and legal knowledge of selling

real estate, where do they learn "on-the-job" training? A REALTOR with the Graduate, REALTOR Institute designation has acquired a solid base of information for their practice in the areas of customer service, contracts, brokerage engagement and business practice and planning.

RAA The Residential Accredited Appriaser designation is awarded to appraisers whose education and experience exceed state appraisal certification requirements.

SIOR Individuals certified with the Society of Industrial and Office REALTORS designation are top producers in industrial and office real estate brokerage. The Society's mandatory re-certification requirement assures clients of the designee's excellence in the fast changing commercial brokerage field.

e-Pro - The e-Pro designation lets you know that you are working with a technology-savvy REALTOR. E-Pro designees are taught methods of Internet research as well as how best to maximize their business and service to their client by using computer and technical skills.