“The real estate industry is saddled with a large number of part-time, untrained, unethical and/or incompetent agents.” – NAR Danger Report June 2015
In an effort to become and remain one of the best in my industry, I seek out additional training and certifications that will benefit my clients. If you're wondering what all those letters behind my name name stand for, here are brief explanations of each.
In the State of Washington, all licensed real estate agents are referred to as "brokers", which differs from some other states. A broker is legally defined as: a natural person acting on behalf of a real estate firm to perform real estate brokerage services under the supervision of a designated broker or managing broker.
A managing broker is legally defined as: a natural person acting on behalf of a real estate firm to perform real estate brokerage services under the supervision of the designated broker, and who may supervise other brokers or managing brokers licensed to the firm.
Managing brokers have greater experience and have completed additional educational requirements to obtain this level of licensure.
ABR®: Accredited Buyer’s Representative
Four (4) requirements must be met to attain and use the ABR® designation:
CRS: Certified Residential Specialist
The threshold to becoming a real estate agent is surprisingly low. Requirements vary by state, but some ask for as little as 40 hours of training and few ask for more than 100 hours—compare that to the 1,000 hours that are typically required to become a hair stylist.
To become a CRS, however, REALTORS® must meet a number of stringent requirements that combine advanced hours of education and training, experience and success in the marketplace. A CRS agent adheres to a strict code of ethics that binds them to perform in the best interest of their clients at all times.
CRSs are required to have between 25 and 150 transactions and between 16 and 80 additional hours of education beyond what’s required of the typical REALTOR®.
These are agents who are invested in their careers, in buying and selling real estate and in making sure their clients are satisfied. CRS is the sign of a true real estate professional.
The Benefits of Working with a CRS Agent
Agents with the e-PRO® certification demonstrate:
MCNE: Master Certified Negotiation Expert
A significant part of the value added by real estate agents/brokers is their ability to effectively negotiate and influence the other side to agree to acceptable terms.
Professional negotiation training has been taught and used in most industries for decades. The Real Estate Negotiation Institute (RENI) began teaching professional negotiation skills in real estate in 2005. RENI’s structured, disciplined approach to negotiating with and on behalf of clients consistently leads to better overall protection and final agreements for both parties.
REALTORS® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.