There's the M.D., the D.D.S., the CPA. Doctor. Dentist. Accountant.
Now, what about the ABR. The CRS? How about the GRI?
To the average homebuyer, making sense of the plethora of letters after a real estate professional's name can be confounding. What are they, and what does this alphabet soup of letters mean?
The letters are abbreviations for professional designations given to Realtors who have taken additional educational real estate courses. The more letters after a name, the more classes and programs the agent has attended.
Some of the designations have been around for decades. New ones such as the "e-PRO" certification have come about in light of how technology is changing the way the industry does business.
Dan Schmitz, manager of online services for the National Association of Realtors, agrees that although most homebuyers aren't particularly aware of the value of such designations, Realtors are.
"The consumer right now is most likely not that familiar with the designations," Schmitz said. "Much of the value of having them really comes when dealing with professional colleagues."
According to a recent NAR membership study, 45 percent of members have a professional designation and 13 percent of Realtors belong to at least one of the NAR's societies, councils or institutes.
Schmitz said the study also indicated certifications do, in fact, increase the number of closings and, therefore, the bottom line. "Furthermore, designations help real estate people build up an individual network for referrals - and there is the overall value of staying in touch with current changes in the industry, as well as what is upcoming."
Schmitz said the NAR is working to increase homebuyers' awareness of the meaning and significance of certifications. "And Realtors are happy to give consumers more in-depth information about what the designations really mean and how important is the value of continuing one's professional education," he said.
Here's a quick guide for the lay person to help sort out what those designations mean.
e-PRO
The newest of the NAR designations is e-PRO, which was first introduced last summer.
"e-PRO is the only online training course for Internet professionals recognized by the NAR," said Barbara Novitsky, a real estate agent with the Columbia office of O'Conor, Piper & Flynn ERA and one of 26 Realtors in Maryland who hold e-PRO certification.
