The letters that follow a real estate agent’s name are acronyms for designations acquired after taking specialized courses offered by the National Association of REALTORS® (NAR)’s nine affiliated institutes, societies and councils. These courses are only available to real estate agents who have earned the right to distinguish themselves as REALTORS® by becoming members of the NAR. According to NAR spokesperson Wendy Harper, the three most important accreditations for most homebuyers are the GRI, the CRS and the ABR.
GRI – Graduate of the REALTOR® Institute
About 19 percent of the NAR REALTORS® hold this accreditation. These agents have a broad range of knowledge to help you in all aspects of the real estate transaction. They have completed 90 hours of coursework, covering such topics as residential finance, legal issues, contracts, property appraisal, marketing techniques, professional standards, taxation, investments, property management and brokerage management, and environmental law.
CRS – Certified Residential Specialist
These REALTORS® focus on residential real estate and are trained in listing and selling. “They are helpful because they are very familiar with their communities,” says Harper, which means they can match you to a property. They must also be members of local board and state associations and the Council of Residential Specialists.
ABR – Accredited Buyer Representative
This is the only nationally recognized designation for buyer’s agents. These REALTORS® work specifically for you when you are buying. You hire an ABR in order to get the best possible price and terms. They may also help you find a lawyer and structural inspectors.
An ABR must have completed a two-day course plus a one-day elective and passed a written exam with a grade of 80 percent or more. An ABR also must have verified five closed transactions in which he or she represented the buyer within a three-year period.
ABRM – Accredited Buyer Representative Manager
This accreditation is for real estate firm brokers, owners and managers who want to include buyer representation in their businesses. The agent must complete the ABR course and a one-day ABRM course, certify he or she has overseen at least 25 real estate transactions involving buyer’s agents or have more than two years experience in managing buyer’s representatives. An ABRM must also be a member of the Real Estate Buyer’s Agent Council and the NAR.
Other designations
There are many other designations that are less common, but are still useful to know if you are buying something other than a home, or if you feel you want more specialized advice. You can look them up on the NAR website.
Continuing education requirements
Real estate agents are also required to keep up-to-date by taking continuing education courses. These vary according to state, and may require from six to 45 hours of study over a period of several years. Most conclude with an exam.
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