Our Designations
ABR (Accredited Buyer Representative)
The ABR
designation is the benchmark of excellence in buyer representation.
This coveted designation is awarded to REALTORS by the Real Estate
BUYERS AGENT Council (REBAC) of the National Association of REALTORS
who meet the specified educational and practical experience criteria.
Q: What is a Real Estate Buyer's Agent?
A: A real estate buyer's agent represents the consumer who is
purchasing the property in the real estate transaction. This agent owes
full fiduciary responsibilities, duties and loyalty to the real estate
buyer. The buyer's agent works for the buyer client and has the clients
best interests in mind through out the entire real estate transaction
process.
The agent is compensated by the buyer through a negotiated fee or in
some states the commission is split between the buyer's and seller's
agents based on the selling price of the real estate property. It is
important for the consumer to discuss the buyer agent's compensation in
the initial interview. In many cases it is recommended that the
consumer and buyer agent agree to the terms of compensation prior to
viewing real estate properties and sign a written agreement based on
these terms. This agreement should spell out the responsibilities of
both parties throughout the real estate transaction. It is important to
note that in some states, legislation has been enacted to protect the
buyer to the point that absent a written agreement the agent represents
the buyer throughout the real estate transaction. Consult your local
REALTOR® for complete details when you first start the search for
purchasing any real estate property.
Q: Why use a Real Estate Buyer's Agent?
A: As a consumer, how often do you buy real estate property? Once,
twice, three times in your lifetime? Purchasing real estate is a
complex and major transaction with many details to be handled. In the
majority of cases the seller will be represented by an agent. Wouldn't
you want to have complete and fair representation in the real estate
transaction? The real estate buyer agent is responsible to protect
their clients' best interests. Research by the NATIONAL ASSOCIATION OF
REALTORS® has shown that when a buyer agent is used, the prospective
buyer found their home one week faster and examined three more
properties than those consumers who did not use a buyers agent.
The benefits of using a Buyer's Agent:
- Using a Buyers Representative offers the consumer many benefits.
- Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
- Assist the buyer in determining the amount that they can afford (pre-qualify) and show properties in that price range and locale the consumer has determined.
- Assist in viewing properties and either accompany the client on the showings or preview the properties on behalf of the client to insure that the identified specifications are met.
- Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property.
- Advise the client on structuring an appropriate offer to purchase the selected property.
- Present the offer to the sellers agent and seller on the clients behalf.
- Negotiate on behalf of the buyer client to help obtain the identified property. Keep in mind that the buyer agent will be doing so with their clients best interests in mind.
- Review and explain all legal documents to their buyer client.
- Recommendations and assistance in securing appropriate financing for the selected property.
- Provide a list of potential qualified vendors e.g. movers, attorneys, carpenters if these services are needed by the consumer.
- Most importantly, the buyer would know that they are fully represented throughout the real estate transaction.
CIPS (Certified International Property Specialist)
The Certified International Property Specialist Network (CIPS Network)
is the specialty membership group for international practitioners of
the National Association of REALTORS®, the world's largest trade
association. The CIPS Network is comprised of 1,400 real estate
professionals who deal in all types of real estate, but with one common
element: they are focused 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 members are consumers' best resource to
ensure they are dealing with a professional skilled in the unique
aspects of international real estate. CRS The Council of Residential
Specialists is a not-for-profit affiliate of the NATIONAL ASSOCIATION
OF REALTORS®, with its headquarters in Chicago, Illinois. It is
composed of nearly 40,000 Certified Residential Specialists (CRS) and
only 4% of the Nations 900,000 Realtors earn this distinctive
designation. The association was created to attract and retain those
REALTORS® seeking the knowledge, tools and relationship-building
opportunities needed to maximize their income and professionalism in
residential real estate. The Council was founded in 1976 and has four
objectives:
- To enhance members' continuing competence through providing superior educational opportunities in a cost-effective manner.
- To provide and promote benefits which enhance the economic value of membership in the Council.
- To create and maintain organizational systems and alliances with appropriate organizations to ensure the integrity of the Council.
- To create and maintain procedures to ensure a standard of excellence that is required for earning the CRS Designation.
Diversity
America is becoming an increasingly multicultural society. The rapidly
growing population of minorities and immigrants consider buying a home
a top priority. For many families home ownership serves as a stepping
stone to prosperity and represents the American way of life. Expanding
home ownership will strengthen our nation's families and communities.
NAR publicly promotes the REALTORS® role in providing equal and
affordable housing opportunities for all Americans through a variety of
programs: The At Home with Diversity: One America certification, the
Cultural Diversity Program, and a host of outreach and educational
initiatives. THE NATIONAL ASSOCIATION OF REALTORS® has a vision of
REALTORS® being the leaders in a culturally diverse real estate market.
REALTORS® who are able to effectively reach out to all racial and
ethnic groups in their community are not only positioned for success
but can take pride in knowing that they have participated in the
expansion of home ownership to all Americans.
At Home with Diversity Certification
AHWD certification relays to the public that those certified have been
professionally trained in and are sensitive to a wide range of cultural
issues, thus inviting a wider volume of business from a greater variety
of cultures.
e-PRO
An e-PRO is a REALTOR® who has successfully completed the e-PRO
training program for real estate professionals. Endorsed by the
National Association of REALTORS®, the e-PRO professional understands
the nuts and bolts of working with real estate on-line: Web sites,
e-mail, on-line tools, and most of all, what today's consumer really
wants.
e-PRO is the only designation program of its kind recognized nationwide
and endorsed by the NATIONAL ASSOCIATION OF REALTORS® (NAR).
The e-PRO Realtor? is recognized nationwide as an online standard for real estate professionalism and knowledge.
GRI (Graduate REALTOR® Institute)
GRI, which stands for Graduate REALTOR® Institute, is a nationally
recognized professional real estate designation. The GRI designation is
a real estate industry designation similar to various industry
designations such as:
- CPA - Certified Public Accountant, an accounting industry designation
- CSEO – Certified Senior Escrow Officer, an escrow industry designation
- CLU - Charter Life Underwriter, an insurance industry designation
- CFP - Certified Financial Planner, a financial industry designation
The GRI designation is considered the nation’s number one real estate designation. This designation may only be earned after successfully completing a rigorous educational program. This program requires 92 hours of live course instruction from a statewide faculty selected because of extensive experience in their own areas of expertise This designation is available only to members of the local, state and National Association of REALTORS®. GRI is recognized nationwide as the standard for real estate professionalism and knowledge. The GRI designation is granted through the California Association of REALTORS® whose courses of study meet the standards established by the National Association of REALTORS®.
ICREA
The International Consortium of Real Estate Associations (ICREA) is a
global alliance of leading national real estate organizations in the
world's major markets. ICREA assists members of these national
organizations by helping them efficiently and profitably facilitate
cross-border business. ICREA also assists buyers and sellers in
locating properties outside their country and in locating a real estate
professional who abides by a code of ethics and can best meet their
individual needs. Contact ICREA at consortium@realtors.org.
As national real estate associations worldwide look to respond to
industry issues for a global marketplace, several factors have
converged that dictated the need for a strong global alliance:
Globalization has had an immediate and powerful impact on real estate
markets, attracting the attention of real estate professionals
worldwide. Practitioners with a local focus are seeking to expand their
businesses into the international sphere, and look to their real estate
associations for advice and assistance.
The rapid growth of the Internet has made the international market
accessible to millions of consumers. Current estimates are that more
than 650 million people are online and by 2004 the number will have
reached close to 1 billion. Most of the growth will take place in Asia,
Latin America and parts of Europe. The value of commerce connected to
the real estate industry is staggering. Residential real estate sales
in 2000 for the U.S. alone approximately one trillion U.S. dollars. As
a result, many companies view the global real estate market as a source
for significant revenue potential who may not have the interests of the
real estate agent or the consumer in mind. Professional associations
need to work together to keep real estate practitioners central to the
transaction and endorse ethical business practices.
Value to our Consumers - In today's market, real estate is complex
enough when the transaction is local. Adding an international element
to the deal makes it even more so. ICREA helps consumers understand the
global market business practices and can assist both buyers and
sellers. Using online resources, buyers and sellers can learn about how
real estate is transacted in the country of interest, so they are
prepared for the differences from the practice in their home country.
Buyers can search for properties among more than 3 million listings,
and locate a broker who will work in a cooperative manner with a broker
in another country to ensure the best possible service. Sellers can
locate a broker who will market their properties to a worldwide market.
This is especially important for sellers with distinctive properties
that will attract buyers from around the globe in search of a vacation,
resort, or luxury property, or simply one that's unique within its
local market. ICREA's greatest value to consumers, however, is the
ICREA network of brokers-more than 1 million-who are affiliated with
leading national organizations and adhere to a code of ethics that
commits them to professionalism and service to their customers and
clients.
Realtor®
Q: When Is a Real Estate Agent a REALTOR®?
A: A real estate agent is a REALTOR® when he or she becomes a member of
the NATIONAL ASSOCIATION of REALTORS®, The Voice for Real Estate®, the
world's largest professional association. The term REALTOR® is a
registered collective membership mark that identifies a real estate
professional who is a member of the NATIONAL ASSOCIATION of REALTORS®
and subscribes to its strict Code of Ethics.
Founded in 1908, NAR has grown from its original nucleus of 120, to
over 800,000 members today. NAR is composed of REALTORS® who are
involved in residential and commercial real estate as brokers,
salespeople, property managers, appraisers, counselors and others who
are engaged in all aspects of the real estate industry.
Members belong to one or more of 1,700 local associations/boards and 54
state and territory associations of REALTORS® and can join one of our
many institutes, societies and councils. Additionally, NAR offers
members the opportunity to be active in our appraisal and international
real estate specialty sections. REALTORS® are pledged to a strict Code
of Ethics and Standards of Practice.
Working for America's property owners, the NATIONAL ASSOCIATION of
REALTORS® provides a facility for professional development, research
and exchange of information among its members.
REBAC (Real Estate Buyers Agent Council, Inc.)
The Real Estate Buyers Agent Council, REBAC, was founded in 1988 to
promote superior buyer representation skills and services. An affiliate
of THE NATIONAL ASSOCIATION OF REALTORS since 1996, REBACs membership
now numbers well over 40,000 and is the worlds largest organization of
real estate professionals concentrating on buyer representation.
Members who meet all course and professional experiential requirements are awarded the ABR (Accredited Buyers Representative) and/or ABRMSM (Accredited Buyers Representative Manager) designation(s). Both are the only designations of their type recognized by NAR.
Transnational Referral Certification
The Transnational Referral Certification is a certification developed by the International Consortium of Real Estate Associates (ICREA) that integrates international referrals as a benefit to improve customer service worldwide. This certification demonstrates to other real estate professionals that you are well versed in the procedures of the TRS program and have pledged to follow a code of conduct in business dealings in an international transaction.
As a Realtor of this Transnational Referral Certification you become a member of ICREA. The International Consortium of Real Estate Associations (ICREA) is a global alliance of leading national real estate organizations in the world's major markets. ICREA assists members of these national organizations by helping them efficiently and profitably facilitate cross-border business. ICREA also assists buyers and sellers in locating properties outside their country and in locating a real estate professional who abides by a code of ethics and can best meet their individual needs. The advantage to real estate clients are enormous since they can feel as ease working with their present Realtor in conducting an international transaction with local assistance.
WCR (Women’s Council of Realtors)
WCR stands for Women’s Council of Realtors and is a community of real estate professionals creating business
opportunities, developing skills for the future and achieving our
individual potential for success. WCR is a family of real estate
professionals, unique in our focus both on business and personal
development. Through participation in WCR, we encounter a support
network, ready and willing to help us achieve our individual potential
for success. WCR believes that success in business today requires
positive, productive relationships. WCR provides an environment in
which we can form, nurture and maximize relationships at many levels,
from bottom-line business transactions to ongoing mentoring for career
development. As WCR members, we share freely of our time, talent and
experience because we know it will come back to us many times over. WCR
membership is a sign of credibility. We are established career
professionals. We operate based on a shared value system of integrity,
consistency, creativity, compassion and a commitment to excellence and
continued development. We believe that these are the skills and
qualities that will advance the real estate profession.
Today, with more than 260 Chapters and 14,000 members, WCR is the 17th
largest U.S. Women's professional organization and has one of the most
successful communication networks in the NAR family. Chapters include
men and women who support the objectives of WCR and are interested in
serving the industry, the community and fellow REALTORS®.
