Alphabet Soup: What do all those letters mean after a REALTOR's Name?

Did you ever wonder what all of the letters after a REALTOR's name actually mean. For most consumer it looks like alphabet soup, but there is a real value to most, if not all, of these 'Designations' as they are known in the field.

I aim to clarify what most of the popular Residential Real Estate Sales Designations are. I say Real Estate in this instance (and not REALTOR) because not ALL designations are sponsored and/or recognized by the National Association of Realtors (NAR).

First are the NAR Designations:
ABR: Accredited Buyer Representative
ABRM: Accredited Buyer Representative Manager
ALC: Accredited Land Consultant
CIPS: Certified International Property Specialist
CRB: Certified Real Estate Brokerage Manager
CRS: Certified Residential Specialist
CRE: Counselor of Real Estate
GRI: Graduate REALTOR Institute
SRES: Seniors Real Estate Specialist

And NAR Certifications:
AHWD: At Home With Diversity
ePRO: Online Professionalism
RSPS: Resorts & Second-Home Property Specialists
TRC: Transnational Referral Certification

There are also MANY Non-NAR designations. Not to take anything away from these, but they are not sponsored by NAR. Some of which include:
ASR: Accredited Seller Representative
CRP: Certified Relocation Professional
CSP: Certified New Home Sales Professional
EBA: Exclusive Buyer Agent
RECS: Real Estate Cyber Specialist
SRS: Seller Representative Specialist
And there are surely more...

Some Designations (or Certifications) are much more difficult to obtain than others. I can tell you first hand that a few of my designations were not easily obtained and required many weeks worth of classes along with a documented track record to obtain- while others required little more than a valid credit card. But, any agent that is willing to further educate his or herself will undoubtedly be a person that is focused on best serving their clients. I have always felt that we all need to be constantly educating ourselves. We all need to Never Stop Learning.

92 Revolution Dr., Leominster, MA 01453

Gerry Realtyman Bourgeois attended the MAR Tech Conference

Although it is proven that I am one of the more technologically advanced Realtors in the Central Massachusetts marketplace, I spent the entire day at the Massachusetts Association of Realtors Technology Conference in Andover, MA on June 12th. (Any chance this continued learning is Why I'm sometimes referred to as the 'Tech Realtor')?
Matthew Ferrara did an excellent job moderating the event and Michael Russer was an fantastic keynote speaker. I am already beginning to implement many of the ideas that picked up there.

Foreclosure Deeds in MA Reach A Record in April, 2008

I received an email this morning from Banker and Tradesman (a publication of The Warren Group) indicating the following:

"Massachusetts foreclosure deeds soared to their highest recorded level in April, according to The Warren Group, Banker & Tradesman’s parent company. The number of deeds so far this year outpaced those in the first four months of 2005 by 1,165 percent."

Sounds bad doesn't it? But here are some points to consider:
These foreclosures are largely a result of activities that took place 2 to 4 years ago.

Since then:

• Lending Standards Have Tightened significantly (and in my opinion; TOO much).
• 100% financing is no longer available to 'Just Anyone' anymore.
• Prices have adjusted.
• Conventional Fixed Mortgage are still Historically 'Good'.
• Conforming Loan Limits in some counties have been increased (unfortunately Not in Worcester County).

So what does it mean for Sellers?

• You MUST price your property correctly for The Current market we are in!
• You MUST have your properties Marketed aggressively!
• Your property MUST be Better than every other that you are directly competing against!

So what does it mean for Buyers?

• You have a Great Opportunity right now!
• Mortgage Rates are Historically LOW!
• There are Many Homes for you to choose from!
• You are 'Buying Into a Down Market'!
• Your lender does NOT want to put you in a situation where you will face foreclosure!
• The Real Estate Market will go up again - not sure when - but it will!

So Remember The Following:

• ALL Real Estate is LOCAL!
• Nobody will see 'The Bottom' until we are past it!
• Mortgage Interest Rates Cannot stay this low Forever!
• The Real Estate Market is Worse in some parts of the country and is Better in others!
• The "media" cannot sell 'The Middle' of any story. Only extremes can sell papers/tv/etc... so they always report on the worst!
• Always use the most Knowledgeable and Reputable Realtor that you can find to assist you if you are selling OR buying!

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