Real Estate Designations: What the heck do these mean, and why should you or I care?

ABR, SRES, ASA, MVA, FRI, CRES, E-PRO… the list is endless.

All the time you see REALTORS®, and others for that matter, that need lines of type to include all the letters after their name for the designations they have earned. While a lot of time and study can go into these designations, not all of them truly affect how your REALTOR® will help you with your real estate needs.

When you are ready to buy or sell, take the time to interview 2 or 3 REALTORS® before you make your final decision. You should consider these interviews to be job applications. Many times, I think buyers and sellers take more time deciding what colour to paint the front door than they take to decide who will best represent them, and negotiate the best possible terms for them.

When you interview a REALTOR® you should ask them questions about their track record.
• How long have they been in the business?
• What did they do before they became a REALTOR®?
• What is their list to sell ratio? (how many of the listing they take actually sell)
• What is the average number of days they require to sell a home?
• What are they going to do that is different from everyone else?
• What special qualifications do they have that will help you? (this is where the initials after the name may mean something)
• Why should you hire them? If they don’t have a good answer to this question, what is their answer when a buyer asks “Why should I buy this house?” or you ask “is this a good house for me to buy?”

The answers to these questions are not rocket science, nor is there the right answer to every question. Consider the first question, ‘How long have they been in the business?’ A REALTOR® who has just completed the courses may be the best choice you can make. They are up to date on the legal matters regarding a real estate transaction, they are eager and will work very hard for your success. Also, consider their background. That’s where the second question comes into play. A strong sales or marketing background can make up for lack of time in the real estate profession.

If a REALTOR® cannot answer questions about their production, such as list to sell ratio, or average days on market, be wary. This individual does not look at buying and selling homes as a business. They are looking at real estate as one sale at a time. That may be a good way to focus, but it does not always lead to long term success.

I hope when you are thinking about your next real estate move you will call one of our Coldwell Banker Pinnacle Real Estate professionals. Yes, we have many that have initials after their names… ask them why they decided to earn the designation. Maybe they are uniquely qualified to help you. If you chose to hire one of our sales representatives, always remember, you receive the Ultimate Service® Guarantee.

By the way, our sale representatives will gladly answer the questions I have outlined above. You be the judge of the answers.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s