But is it worth your time? We’ll learn what it means to be an Accredited Buyer’s Representative (ABR®), the cost and process of getting this designation, and, ultimately, whether it’s the right move for you and your business. Plus, we’ll get an insider’s opinion from one of the creators of ABR® course content.

What Is the ABR® Designation in Real Estate?

The ABR® designation is offered by the to Center for REALTOR® Development, a wholly owned subsidiary of the National Association of REALTORS® (NAR), to agents who work directly with buyer-clients, provide a superior client experience, and prioritize professional development.

How to Get the ABR® Designation

This one is reasonably priced in real estate designations and doesn’t take long to get. When I calculated the pricing in the bullet list below, the total cost for the ABR® designation was approximately $600. There is a $75 per year fee, after the first year, to maintain it. If you meet the experience requirements, the entire designation can be completed in one week. 

To obtain your ABR® designation, you must:

1. Be a member in good standing with National Association of REALTORS® or an IRM (International REALTOR® Member)
2. Complete the two-day designation course online, in-person or in a live virtual format.
3. Complete one qualifying elective course online, in-person or in a virtual format.
4. Submit five completed transactions as a buyer’s rep in your career, (two can be leases) in which you act solely as a buyer’s representative
5. Submit your application and fee to become an Accredited Buyer’s Representative through their online form. International REALTOR® Members pay a one-time application fee of $185.

It’s important to note that the ABR® course is updated every two years, which could impact pricing. We’ve been assured that it has gone through a very recent update reflecting the current legal headwinds that NAR and the industry face. To learn more, check out the course here.

The course covers the following topics: 

• Conveying your value to the buyer-client
• Conducting a seamless, productive buyer counseling session
• Guiding a buyer-client through the search-showing-selection process
• Negotiating buyer client offers
• Bringing the transaction to a successful close
• Providing exceptional service

Benefits of the ABR® Designation

In light of current buyer agent conditions and potential shifts in commission structures, agents are looking for ways to demonstrate their value and worth. ABR® designees display the designation on their marketing materials, which sets them apart from the competition. These three little letters are a way to do just that.

“We asked Adorna to articulate the actual value of the ABR^®, specifically in today’s market: If you want to stay in business in a changing business environment, you need the best tools possible to remain competitive. This course can help agents work smart instead of hard, substantially increase their income, manage risk, and generate more business. This course is a game-changer for agents who take it.”

Adorna Occhialini Carroll

ABR® Marketing Materials

With your ABR® designation, you get access to the ABR Member Center library of print marketing templates for things like postcards, letters, and brochures. You also receive digital assets like Facebook profile picture frames and cover photos for places like LinkedIn and Instagram. Like most NAR marketing materials, they aren’t going to win any design awards, but they look professional and convey a strong sense of professionalism and expertise. 

Use these materials in social media posts that educate your prospects about your designation and how it benefits them. You can also use them on your website, where you can articulate what it means to be an ABR® and how that sets you apart. Make sure it’s clear you’re an ABR® Designation REALTOR®: your designation is on every piece of marketing you send, it’s part of your email signature line, and you’re talking about it in every new client meeting. 

ABR® Member Resources

Once you get your ABR® real estate designation, you can instantly use the client-facing resources. These resources include videos to share with your prospects about the value of working with an Accredited Buyer’s Representative, a homebuyer’s toolkit, and consumer one sheets. These features are perfect for buyer-agent scenarios like mortgage prep, home inspection, making an offer, and more. These resources are all packaged nicely and can potentially impress serious buyers. 

ABR® Networking

As an ABR® designee, you are allowed membership to the exclusive ABR Facebook Group, which boasts over 10,000 members. Here, you can connect with other ABR® designees, share strategies, exchange referrals, and more. The group is active, with two posts today and 28 in the past month, as well as live virtual networking events throughout the year. It’s unclear how many actual referrals one can expect from this group. Still, it’s certainly a place where agents are discussing current issues, problem-solving, and supporting one another. 

ABR® Member Programming & Publications

Accredited Buyer’s Representatives are automatically subscribed to the monthly ABR® publication, Today’s Buyer’s Rep, the TBR HotSheet, a weekly e-newsletter wrap-up of real estate information, as well as a standing invitation to the Buyer Representation Sessions, an annual event at the National Association of REALTORS® (NAR) Conference and Expo. Each of these resources offers an opportunity to liaise with fellow ABR® designees, learn from best practices, and stay up to date on the most relevant news.

Is the ABR® Designation Worth It?

Yes. The ABR® offers interesting courses, substantial continuing educational opportunities, and a helpful community of fellow designees at a fraction of the cost of other designations. It’s quick to get and affordable to maintain.

However, the ABR® designation only pays for itself if you actively promote it, explain how it sets you apart from your competition, and if you consistently deliver great service to your buyers. You have to leverage the designation to create space between you and those you’re competing against—if you aren’t doing that, you won’t benefit from this distinction, and it’s not worth the time.

“Adorna offers her final two cents: Based on how much business practice is changing and in light of current changes within the industry, anyone who has already taken the ABR^® course should retake it. You just don’t take a designation course once—you take it periodically to elevate your business skills and add new tools to your professional toolbox. For agents who have not taken the course yet–now is the time.” ABR^® designees have access to all up-to-date live virtual courses in the member center.

Adorna Occhialini Carroll

Bringing It All Together

The ABR designation is absolutely worth getting if you have a marketing plan to promote it and the follow-through to stay consistent with that message. If you possess both of these things, the ABR® is a no-brainer.

The post What Is the Accredited Buyer’s Representative (ABR®) Designation? appeared first on The Close.

What’s the SRES Designation?

The Seniors Real Estate Specialist (SRES) designation trains real estate agents in the unique opportunities and challenges that come with serving those over 50 years old. SRES designees must complete the required courses and exams, be an active member of the National Association of Realtors (NAR) and maintain membership with the SRES Council.

How Much Does the SRES Designation Cost?

The SRES course costs $295, though there are often seasonal discounts. This cost includes the first year’s membership dues to the SRES Council, which are $99 each year thereafter. While not free, it’s certainly a bargain compared to higher-priced designations that can cost thousands of dollars.

How Long Does It Take to Get Your SRES Designation?

You can take the SRES course via 12 hours of self-paced, online, on-demand training or a two-day live, online course. Students who opt for the online, on-demand version will have access to the course for up to 12 months. If you don’t finish the course in one year, you will need to repurchase it and start over.

Why Specialize in the Senior Market?  

According to the U.S. Census Bureau, the population of people over 65 will surpass the population under 18 for the first time in U.S. history in the year 2034. With tens of millions of Americans over the age of 50, this is a huge share of the real estate market. Senior buyers and sellers often need specialized help for their specific real estate needs. Agents who embrace this real estate niche have an excellent opportunity to capitalize on this explosive demographic.

SRES Council Member Benefits

Real estate designations take time and money, so it’s crucial to find the ones that result in a real return on investment. So what exactly does one get out of a SRES designation beyond education? 

SRES Referrals & Member Directory

Seniors want to work with real estate professionals who understand their unique challenges and pain points, and many specifically seek out agents with the SRES designation. Don’t believe me? We spoke with Stephanie Burrows, a Realtor and SRES designee at Allen Tate Realtors, about the visibility this brings to her business. 

One easy way consumers find a local agent who’s earned the SRES designation is through the member directory. All SRES designees have a professional profile in this public database, which is searchable by geographic location. This means your information will be easily accessible to both Realtors looking to refer to SRES members and members of your community searching for agents with this specialized training and education. 

Access to SRES Marketing Resources

As an SRES member, you get access to the SRES logos, a brand guide, marketing plan, and other materials that help you promote your business to senior homebuyers and sellers, including:

• Newsletters
• Content-rich social media templates via Photofy
• Postcard, flyer, and brochure templates, as well as discounted printing services
• Promotional videos

SRES Council Members Community

SRES Council members have access to a private SRES Facebook Group for networking, referral opportunities, and the latest SRES member updates. As of this writing, it has more than 3,800 members and 56 posts just this month. 

Ongoing SRES Education

SRES Council members receive current news, event invitations, legislative updates, and research that affect their senior clients. As long as you remain an SRES Council member, you will have the opportunity to continue with your professional development through these resources.

How to Get Your SRES Designation

The SRES designation is one of the least difficult designations to achieve, and at only $295, you are sure to recapture the expense on your first referral. To sign up, go to the SRES homepage and log in with your NAR credentials. 

The 12-hour SRES course is available in an online, on-demand format. This allows you to move at your own pace and complete the coursework when it’s convenient for you, as long as you complete it within a year. The two-day live online option allows you to actively interact with the instructor and knock out the course quickly. 

Educational Value

Stephanie Burrows helped us understand how the courses helped her better serve her community: “I learned that to work with seniors requires a lot of empathy and patience. That it is at times a very difficult process for a senior to navigate selling their homes. I learned that a lot of seniors and veterans do not feel they have the respect that they deserve and many are taken advantage of.”

Specifically, here’s a look at what you’ll learn to do:

• Identify demographic generational groups
• Gain deeper understanding into older adults’ needs, activities, and interests
• Consider how economic challenges affect retirement plans and home financing
• Acquaint clients with desirable communities and home features that facilitate aging in place
• Understand the age-based homeownership cycle to help clients find homes that fit their preferences, life stage, and needs
• Distinguish between types of elder housing options that offer assistive services
• Identify situations in which a home equity conversion mortgage would be appropriate
• Gain an overview of tax issues of concern to seniors
• Develop marketing methods specifically tailored to the 50-plus market
• Develop services that win and sustain client relationships and position yourself as a trusted real estate adviser
• Assemble a team of experts to help you serve 50-plus clients and customers

To maintain your SRES designation, you’ll need to remain a NAR member and pay an annual $99 fee to the council. 

Linda Giannosa: An SRES Member’s Experience

Why did you decide to get your SRES designation?

“It harkens back to me feeling well-suited to serve those baby boomers. Getting the SRES designation was another badge for me to have. Not to market myself per se, but as an education for myself. Any designation or additional education that I have gotten has always been to improve my service.”

Do you currently work exclusively with seniors?

“I absolutely do not. What has been very joyful for me is that the ‘olders’ that I do work with often refer me to their children and grandchildren. Whether it’s their first home or not, I really enjoy working with all the ages that I’m privileged to work with.”

Would you recommend agents get an SRES designation?

“I believe that anyone of any age who wants to work—or thinks they may work—with people who are aging in our society will be well-served by learning more about what the differences are in the different age groups. That’s the education they should put in their back pocket.”

My Verdict on SRES: Is It Worth It?

Yes. If you want to work with clients who are 50 years old and over, the SRES is a great value. Not only does the course help agents understand the unique challenges involved in working within this demographic, it is a relatively low time commitment and cost. In one weekend, you could get certified and be ready to market your expertise the following Monday. 

When you consider that this demographic is growing at exponential rates, the SRES designation becomes even more appealing. If you can position yourself as the best agent for seniors and their unique challenges, the opportunities are endless. And as the agents that we interviewed point out, the SRES designation not only enables you to better serve this demographic and their specific needs, it also gives seniors and their families confidence in your abilities and faith in your skills. 

SRES Caveats

However, let me caution you that just putting SRES behind your name will not necessarily lead to a massive influx of senior clients and referrals. Like with any designation, the SRES won’t actually make you more money if you don’t market yourself correctly. SRES provides the tools and materials to help, but at the end of the day, it’s up to you to put in the time and effort to target this population and market your special qualifications.

Take it from Stephanie: “If an agent wants to work with seniors, I would highly recommend that they get their SRES, but they will also have to continually update themselves on the world of seniors and how to work with them. It’s the side of business that is all about them—they need to be listened to and respected.”  

Bringing It All Together

If you want to specialize in any niche or demographic, you must be loud and proud to share your excitement, knowledge, and experience working with that group. Only then you will see results from your efforts. 

Do you have advice about getting your SRES designation? Please let us know in the comment section!

The post The SRES Designation: Is It Worth It for Residential Agents? appeared first on The Close.

About Real Estate Designations & Certifications

Real estate designations are awarded through continuing education and are offered to licensed real estate agents through organizing bodies and trade organizations such as:

• The National Association of Realtors 
• The Residential Real Estate Council
• The CCIM Institute
• Institute of Real Estate Management
• The Counselors of Real Estate
• Center for Realtor Development

What Is a Real Estate Designation?

A real estate designation is a special endorsement on your real estate license that certifies you are an expert in a particular field of practice. Trade organizations and other institutions offer real estate designations that can help you stand out.

What’s the Difference Between a Designation & a Certification?

Designations and certifications are very similar. The real difference between the two is that designees have to pay annual dues, while those who hold certifications only need to pay an initial application fee.

What Are the Best Real Estate Designations?

The best real estate designation for you may be different than for someone else. When thinking about which real estate designation to pursue, ask yourself: “Which designation best highlights my expertise?” “Where should I expand my skills?” and “What sort of designation would give me a leg up in my primary market?”

For example, if you work primarily with buyers, the Accredited Buyer’s Representative (ABR) is probably one of the best for you. If your work crosses over residential to commercial real estate, the Certified Commercial Investment Member (CCIM) designation might be the right choice for you. Want to break into luxury real estate? The Luxury Homes Certification (LHS) is designed for you. 

Are Real Estate Designations Worth It?

In general, designations are worth it, but you have to leverage them. If you fail to market yourself as an endorsed expert in a particular real estate niche, your designation won’t get you very far.

9 Real Estate Designations That Will Actually Make You Money

Here are nine popular real estate designations that are likely to bring you added financial success in the years ahead.

1. Accredited Buyer’s Representative (ABR)

• Best for: Buyer’s agents looking to separate themselves from the rest of the field
• Cost: $295 plus the cost of your elective class; $110 annual membership fee
• Time commitment: 2-day online course
• Where to get an ABR designation: National Association of Realtors

What Is the ABR Designation?

Accredited Buyer’s Representatives are agents who have demonstrated outstanding skill and knowledge in the real estate industry and completed at least five transactions as a buyer’s agent. With the ABR designation, agents receive specialized training and professional development.

What Does It Take to Get an ABR Designation?

To get an ABR designation, you must meet the requirement of having five transactions as a buyer’s agent under your belt. Then, you’ll need to take eight hours of required classwork, plus four to eight hours of elective classwork from NAR. Most agents complete their coursework in about a week.

Is the ABR Designation Worth It?

If you plan to serve buyers in your future, it absolutely is. This is the most recognized buyer’s agent designation available. In competitive markets where everyone wants to represent buyers, this is a great way to show your expertise.

2. Certified Residential Specialist (CRS)

• Best for: Agents who spend more than 75% of their time as a listing agent, a team leader managing listing agents, or a broker
• Cost: $99 application fee, ~ $2,000 in class fees, plus a $195 annual membership fee
• Time commitment: Four to six weeks
• Where to get an CRS designation: The Residential Real Estate Council

What Is the CRS Designation?

A CRS leverages superior skills and market-leading knowledge when representing seller clients. Eligible agents must demonstrate a long and verifiable history of successfully selling homes to discerning sellers. Held by agents and brokers, this designation is the benchmark for listing agent excellence.

What Does It Take to Get a CRS Designation?

To qualify for the CRS designation, you must meet the volume requirements of 60 transactions or $30 million in sales volume in the last five years. If you’ve been a licensed agent for 10 years or longer, you can qualify for the CRS designation with 150 total transactions or an average of $1 million a year in volume with at least 40 lifetime transactions.

Once your volume requirements are met, you must complete 30 credit hours of class time (about five classes) in courses presented by The Residential Real Estate Council.

Is the CRS Designation Worth It?

Absolutely. Successful agents know that the best way to scale your business is through listings, and this designation will help you set yourself apart from your competition.

3. Military Relocation Professional (MRP)

• Best for: Agents who serve military communities
• Cost: $195 application fee + cost of required course, $130
• Time commitment: A couple of days
• Where to get an MRP designation:: National Association of Realtors

What Is the MRP Designation?

The MRP designation certifies a real estate professional has specific training on serving military clients. Designees receive education on supporting military homebuyers and sellers and get access to a library of resources for this highly specialized work. 

A Military Relocation Professional becomes an expert in serving veterans and can create a network of Veterans Affairs (VA) lenders available for referrals.

What Does It Take to Get an MRP Designation?

To be a Military Relocation Professional, you must be a member in good standing with NAR. Since the only other effort required for an MRP designation is light coursework and two webinars, this is an easy designation to acquire.

Is the MRP Designation Worth It?

If you live in a military community, this designation is a must-have. Military buyers and sellers gravitate toward real estate agents with qualifications uniquely suited to their specific needs⁠.

4. Seller Representative Specialist (SRS)

• Best for: Agents who spend more than 50% of their working hours serving seller clients
• Cost: Around $350 for application and class fees, plus $99 a year to maintain the designation
• Time commitment: About a week
• Where to get an SRS designation: National Association of Realtors

What Is the SRS Designation?

The SRS designation is another premier credential for seller representatives, similar to a Certified Residential Specialist. NAR awards an SRS designation in recognition of elevated professional standards, personal excellence, and a demonstrated record of success representing sellers across a local market.

The SRS designation is one of the few that will actually appear on your National Realtor Database System record and shows that you are recognized by the largest professional trade organization in the country for your excellence as a listing agent.

What Does It Take to Get an SRS Designation?

To apply for an SRS designation, a real estate agent must be a member in good standing with NAR and have completed three or more transactions as a seller’s agent.

If you meet these requirements, you must also complete a general SRS certification course (about eight hours of classwork) and an elective course (between four and eight hours of classwork).

Is the SRS Designation Worth It?

Like the CRS designation, becoming an SRS indicates to property owners that you have the class, experience, and know-how to get their home sold. The requirements are also lower for the SRS than they are for the CRS. However, if you work primarily with buyers in your market, this designation won’t be worth the time and effort.

5. Certified Commercial Investment Member (CCIM)

• Best for: Agents with a mix of commercial and residential, especially in major metropolitan markets
• Cost: $7,885 plus a $650 annual membership fee
• Time commitment: 1-3 years, depending on your commercial experience
• Where to get a CCIM designation: The CCIM Institute

What Is the CCIM Designation?

A CCIM has completed advanced coursework, demonstrated extensive experience in the commercial real estate industry, and passed a rigorous membership test. CCIM designees are generally recognized as leaders in commercial real estate.

What Does It Take to Get a CCIM Designation?

To apply for a CCIM designation, you must have completed at least three commercial transactions totaling $30 million or more, 10 commercial transactions totaling $10 million or more, or 20 commercial transactions with no value requirement. After meeting your volume requirements, CCIM applicants must complete a comprehensive curriculum of over a dozen classes to be taken over at least a year.

Is the CCIM Designation Worth It?

Though it’s expensive and time-consuming to acquire, a CCIM certification may be seen as a baseline for hiring for many commercial clients. Developers working on multimillion-dollar projects want to see you know what you’re doing, and this certification shows just that.

6. Certified Property Manager (CPM)

• Best for: Agents who specialize in property management
• Cost: Between $7,500 and $8,500, plus an annual fee of $495
• Time commitment: 14-18 months
• Where to get a CPM designation: Institute of Real Estate Management

What Is the CPM Designation?

The CPM designation is the dominant professional accreditation for the property management industry. It is a signal to commercial property owners that you have completed a rigorous application process and education curriculum. Because this designation is so highly regarded, CPMs have a typical salary of more than twice that of non-CPM property managers.

What Does It Take to Get a CPM Designation?

To apply for and receive a CPM designation, you must be a CPM member candidate in good standing with NAR, complete a one-year candidacy, and be interviewed and approved by a representative of your local Institute of Real Estate Management chapter. 

After that, there are between eight and 10 courses (depending on your choice of electives) to complete. By graduation, you’ll need to have 36 months of qualifying property management experience.

Is the CPM Designation Worth It?

If you work in a market with a lot of rental properties, this is definitely a helpful endorsement to have. In fact, according to the U.S. Bureau of Labor Statistics, property managers with this designation have 144% greater earnings and higher positions than those without it. But, if most of your business revolves around buying and selling, and there aren’t many multifamily properties in your market, the CPM designation is probably not worth the time and effort.

7. Counselor of Real Estate (CRE)

• Best for: Agents who are leaders in their communities and take an active role in shaping the direction of their market
• Cost: $2,500, plus an $1,750 annual fee
• Time commitment: 2-3 months
• Where to get a CRE designation: The Counselors of Real Estate

What Is the CRE Designation?

CRE designees are typically nominated for this accreditation by other CREs who want to recognize them for their industry excellence, effective leadership, problem-solving skills, and commitment to their community.

What Does It Take to Get a CRE Designation?

The only requirement to apply for a CRE designation is active tenure as a licensed real estate agent or broker for 10 years. However, the CRE is only awarded to those who’ve demonstrated excellence in their market and have been recognized for their expertise, experience, and leadership.

Is the CRE Designation Worth It?

This is the perfect designation for real estate agents who prioritize community presence and volunteerism. If you spend a lot of time working with nonprofit organizations, advocating for community organizations, or are just a general do-gooder in your local market, this is a great way to tie those activities to your real estate business and leverage that clout.

If you don’t have much in the way of community accomplishments to brag about yet, this designation probably isn’t right for you.

8. Certified International Property Specialist (CIPS)

• Best for: Agents whose business depends on working with foreign buyers and international investors
• Cost: Around $825 for application fees and classes, plus an annual fee of $220
• Time commitment: 6-8 weeks
• Where to get a CIPS designation: National Association of Realtors

What Is the CIPS Designation?

A CIPS designation recognizes specific expertise in the complicated world of international real estate. CIPS designees have advanced knowledge in currency issues, international financing, tax law, and more. Real estate agents with a CIPS designation are listed in the CIPS database, a resource frequented by foreign buyers and sellers.

What Does It Take to Get a CIPS Designation?

The requirements for a CIPS designation are fairly involved. Agents pursuing a CIPS designation need to have at least three transactions involving foreign parties, meet a minimum threshold of international business experience or foreign language mastery, and other qualifications you can find on the full application here.

Additionally, you must also be a Realtor in good standing with NAR. If you meet the volume requirements, the next step for the CIPS designation is completing two required courses and three elective courses.

Is the CIPS Designation Worth It?

If you meet the requirements for a CIPS designation, this is definitely a good move for you. Foreign investors often qualify agents on paper before scheduling interviews. This designation speaks volumes about your experience and can help get that interview.

Because it is so specialized, if you don’t meet the qualifying requirements (and don’t foresee yourself doing so in the near future), this designation isn’t worth considering.

9. Luxury Homes Certification (LHS)

• Best for: Agents already serving the luxury market or hoping to break into it
• Cost: In-person classes vary in price, with an additional $99 webinar package; self-study online courses are $229 for members of the RRC and $259 for non-members
• Time commitment: 13 credit hours of instruction
• Where to get a LHS designation: Residential Real Estate Council

What Is the LHS Designation?

The LHS designation was designed for agents who are already working in the luxury market and want to fine-tune their negotiation skills and pricing strategies. But this designation is also for agents who want to break into the luxury market. In fact, they have courses created for exactly that, including Succeeding in the Luxury Market and 8 Ways to Break into the Luxury Market. 

What Does It Take to Get a LHS Designation?

This is an easy one to get and is relatively inexpensive. It requires 13 credit hours and you have the option to take it self-paced online (for $229 for members, $259 for nonmembers) or live online (course prices vary depending on the state and instructor, plus a recording bundle for $99).

Is the LHS Designation Worth It? 

This is one of those designations you can knock out in a weekend and is relatively affordable. The content is expertly put together and ideal for those needing to sharpen their pricing and negotiation skills. It’s especially attractive to agents who want to break into the luxury market. Using this designation as part of a marketing strategy will help set agents apart.

Real Estate Designations: Honorable Mentions

We selected these four as our honorable mentions. They are a little more niche, but might be perfect for you and your specific business.

SRES (Seniors Real Estate Specialist)

“The Seniors Real Estate Specialist designation is for Realtors who want to be able to meet the special needs of maturing Americans when selling, buying, relocating, or refinancing residential or investment properties. By earning the SRES designation, Realtors are prepared to approach mature clients with the best options and information for them to make life-changing decisions.”

Learn more about the SRES designation.

Accredited Land Consultant (ALC)

“The esteemed Accredited Land Consultants are the most trusted, knowledgeable, experienced, and highest-producing experts in all segments of land. Conferred by the Realtors Land Institute, the designation requires successful completion of a rigorous LANDU education program, a specific, high-volume and experience level, and adherence to an honorable Code of Conduct.”

Learn more about the ALC designation.

Certified Real Estate Brokerage Manager (CRB)

“The Certified Real Estate Brokerage Manager designation is designed for experienced owners, brokers, managers, and supervisors to raise professional standards, strengthen individual and office performance, and sharpen expertise in brokerage management. Since 1968, CRB has represented the highest level of professional achievement in real estate brokerage management.”

Learn more about the CRB designation.

GREEN (NAR’s Green Designation)

“NAR’s Green Designation is designed for agents looking to learn about issues of energy efficiency and sustainability in real estate.”

Get more information about the GREEN designation.

Bringing It All Together

Designations in real estate go a long way in making you a more credible agent. What real estate designations are you considering? Which do you think will be most helpful in your market? Tell us in the comments below, and let’s keep the conversation going.

The post 9 Real Estate Designations That Will Actually Make You Money appeared first on The Close.

If you have been interested in earning your certified residential specialist (CRS) designation, now may be the best time to do it. But, is the CRS designation worth the time and money? How hard is it to get and will it actually help make you make more money? I will answer these and many more questions in this article as I look into if the CRS designation is worth it in 2022.

Interview With Beth Jaworski: CRS Member of the Year

Like me, Beth Jaworski has held her real estate license since MLS books were still printed, and she earned her CRS designation in the early 2000s.

In this interview, Beth shares how the CRS has made an impact not only on her career but also her pocketbook, and she gives some pro tips on how you can get your CRS designation quicker.

What Is the CRS Designation?

The certified residential specialist (CRS) designation recognizes residential real estate professional accomplishments in both experience and education. The CRS is the highest designation awarded to sales associates by the Residential Real Estate Council (RRC).

The RRC is a membership association that is recognized by the National Association of Realtors (NAR). RRC provides education, certifications, and designations for real estate professionals.

What Are the Benefits of a CRS Designation?

Like any exclusive group, the CRS designation has its perks. In addition to the recognition of adding CRS behind your name, agents with this designation are added to a referral network where they can share leads internationally with others who hold the designation.

When you are a CRS designee, you can also attend CRS Week, an annual event where you will network and deepen your real estate knowledge with further education. You will also have access to exclusive CRS marketing materials and the Your Home Newsletter, which can be personalized and sent to your clients.

There are fewer than 35,000 active CRS designees. That is about 1.5% of all agents nationally. This is important because it allows you to differentiate yourself to your clients. Differentiation equals memorability—and memorability equals more money!

How Much Does It Cost to Get Your CRS in 2022?

Agents often think about how to spend money to grow their business, but many don’t consider investing to further their education. What they may not know is that for a real estate designation as prestigious as the CRS, it is not as expensive to get as one would think. The bulk of the cost of obtaining your CRS designation is the RRC courses.

You do not need to be an RRC member to take RRC courses. However, they are discounted 30-50% for RRC members. For RRC members, each course costs from $25 for a single credit to $180 for eight credits. The annual cost of an RRC membership is $195, and it is also required for your CRS application. Therefore, joining the RRC before taking your courses is completely worth it.

There are two programs available to obtain your CRS designation. The program that you will qualify for is based upon your years as an agent and your past sales production. The program you take will determine the overall cost of obtaining your CRS designation.

CRS Designation Requirements & Costs

	60/30/30 Program	60/30/30 Program	Pro Program	Pro Program
RRC Member	Yes	No	Yes	No
Years Licensed	N/A	N/A	10+	10+
Production Requirements	60 transactions or $30 million in volume within the past 5 years	60 transactions or $30 million in volume within the past 5 years	150 transactions or $1 million in volume each year and 40+ transactions	150 transactions or $1 million in volume each year and 40+ transactions
Required Educational Credits	30 credits	30 credits	16 credits	16 credits
RRC Membership	$195	$0	$195	$0
Classes	$300-$700*	$500-$900*	$150-$350*	$250-$450*
TOTAL COST*	$495-$895	$500-$900	$345-$545	$250-$450

*It is important to note that the cost of each course varies greatly depending on the instructor, the topic, the credits received, and online vs classroom setting. Therefore, the estimates provided below are just that—an estimate.

Ongoing Membership Costs & Requirements of the CRS Designation

Once you have obtained your CRS designation, you will be required to complete two educational credits each year thereafter and maintain your RRC membership of $195 per year. Your annual RRC membership dues includes the cost of the two educational credits.

One of the main benefits of having your CRS designation is being part of an exclusive group and having the opportunity to connect and learn at the events and conferences. Therefore, I would budget an additional $500 to $1,200 a year for attending RRC and CRS events (post-COVID, of course).

How Does the CRS Compare to the GRI?

Overall, the cost of obtaining your CRS is comparable to the cost of the GRI designation ($495 to $600). One difference is that there are no tenure or production requirements to qualify for the GRI. Nor are there annual renewal costs associated with the GRI other than your membership to NAR.

Another important difference between the CRS and the GRI is that the GRI is 60 hours with a required syllabus specifically geared toward technical subjects and fundamentals of real estate.

On the other hand, the RRC allows you to self-select the course topics to meet the 16 to 30 credit hours required for the CRS designation. This seems to make the CRS to be geared more toward experienced agents who are looking for a generalized education.

So, if increasing your technical real estate knowledge is your main goal, then the GRI is your best bet. However, if you are looking for a general designation you can earn in the next few weeks, then keep reading!

Requirements to Get Your CRS Designation in 2022

Before you get your credit card out, know that not just any agent can apply for their CRS designation. The CRS designation is more than just taking a few classes and passing a test. You must also prove that you have the transactional experience to qualify. There are two ways for you to qualify, depending on your years of service and your volume of transactions.

CRS Designation Program Choice Depends Upon Your Experience

The CRS has two programs to choose from based upon your years of experience and the number of transactions or volume of sales you have completed.

1. 60/30/30 Program

The 60/30/30 Program is designed for you if you have been in business less than 10 years and you have met minimum transactional requirements. The transactional requirements are 60 transactions or $30 million in volume within the past five years. If you meet these requirements, then you need to complete 30 credits of RRC education.

2. Pro Program

The Pro Program is for agents who have a minimum of 10 years’ experience. Applicants must also have completed at least 150 transactions or over $1 million in volume each year for the past 10 years, with a minimum of 40 transactions. If these requirements are met, you only need to take 16 credits of RRC education.

Required Educational Credits to Obtain Your CRS Designation

All CRS educational requirements are provided by RRC. They do not accept any outside credits or courses. Courses can range from one to 13 credits each. With over 50 topics, you are sure to find courses that pique your interests. The approved RRC course topics are listed by the following categories.

RRC Educational Course Categories

1) Business growth and operations

2) Professional development

3) Technology

4) Working with buyers

5) Working with sellers

RRC courses are available as self-paced e-learning or in-person classroom courses (including Virtual Pro or virtually held courses), although classroom courses may be restricted due to COVID-19.

CE-approved Courses

An additional benefit of the RRC educational courses are that many are also state continuing education (CE) credit approved and may also satisfy your state’s continuing educational requirements. This can save you money by allowing you to get your CRS designation and your state’s CE credits with the same courses.

How Long Does It Take to Get Your CRS Designation?

The investment of time it will take you depends on your real estate experience. The CRS designation educational requirements depend on the number of transactions you have completed and the years you have been selling.

My best guess is if you were to focus eight hours a week, you would complete the course in two to four weeks depending on what program you qualify for. Once you have completed the courses, the application process takes about a week.

How Do You Get Started?

Earning your CRS designation begins with making sure you meet the experiential requirements first. Next, you will pick the correct program and complete the educational requirements. Once you have completed the necessary RRC credit requirements, you will fill out your CRS application. If you are not a member of RRC, you will need to join in order to submit your application.

Is the CRS Designation Worth the Time & Effort in 2022?

The Good

From the outside looking in, other than meeting the experiential requirements, the difficulty level of earning your CRS designation looks simple enough since you have the ability to select from endless classes with a wide range of topics. Additionally, the overall cost can be very reasonable if (as an RRC member) you pay attention to some of the very low-cost, per-credit virtual classes.

Additionally, according to Beth Jaworski, the referral network alone has proven itself to be worth the time and expense. I don’t believe the public is seeking out CRS designees, but I do think it makes an impression if you discuss how prestigious it is in your listing and buyer presentations.

Overall, I think that the CRS is worth the time and money, if for no other reason to show my clients that I am committed to continuing my professional education over the other 98.5% of agents.

The Bad

The big question is, “Will you make more money with a CRS designation?” Well, I doubt it. While RRC boasts that CRS designees make more money than the average agent, this is more likely due to the tenure and production requirements of the program than to the actual designation. That being said, some of the educational courses and networking may be invaluable.

The Ugly

My main concern is that there’s not a required educational path and that agents can select from any of the courses to meet the credit requirements. This leads to inconsistent knowledge and proficiency within the group. I can’t help but have the feeling that for the Residential Real Estate Council (RRC), the CRS designation is more about generating revenue through courses than educating and setting higher standards for the agents who hold the designation.

Over to You

Already have your CRS designation and have an opinion on it? Let us know in the comments or join our Facebook Mastermind Group here. Looking for another designation option? Check out our deep dives into the ABR and CCIM designations.

The post Is the CRS Designation Worth It? + CRS Member of the Year Interview appeared first on The Close.