Brush Up on Your Credential Knowledge

by Chicago Agent

Want to up the ante on your credentials and show you abide by a code of ethics? Below are some popular designations many agents choose to become certified in and what they mean:

GRI – Graduate, Realtor Institute is a nationally recognized educational institute dedicated to furthering the basic knowledge and skills of agents with less than five years experience and to help agents stay current with timely issues in the industry. The GRI designation is earned by completing a national program that covers many aspects of real estate such as residential marketing, cost basis, appreciation methods, investment real estate, construction, real estate tax concepts, exchanges, capital gains and various types of mortgage programs. The program requires 92 hours of live course instruction. For more information contact NAR.

ABR – Accredited Buyer Representative is a designation from the Real Estate Buyer’s Agent Council  (REBAC) that trains experienced agents in representing the real estate consumer. This designation is awarded to real estate practitioners who complete a comprehensive two-day REBAC course in buyer representation, pass a written exam, complete and close five real estate transactions in which the candidate functioned as a buyer’s representative, and who maintain a membership in good standing with NAR and REBAC. For more information contact REBAC.

ARM – Accredited Residential Manager is the designation awarded by Institute of Real Estate Management (IREM) to specialists who manage residential property, including rental apartment complexes, rental mobile homes, rental condominiums, rental single-family homes, single-room occupancy apartments (SROs) and homeowners’ associations, or people who are resident managers, property managers or asset managers.

To become ARM-certified, agents must complete a minimum of five points from IREM courses. Each course is worth between one and six education points, depending on the length and complexity of the course. Contact IREM for information.

CRE – Counselor of Real Estate is part of the Counselors of Real Estate, an international group of recognized professionals who provide seasoned, objective advice on real property and land-related matters. Only 1,000 practitioners throughout the world carry the CRE designation. Membership is by invitation only.

Membership is selective and on either a sponsored or self-initiated basis. The organization’s CRE Designation is awarded to all members in recognition of superior problem-solving ability in various areas of specialization such as litigation support, asset management, valuation, feasibility studies, acquisitions/dispositions and general analysis. For more information, contact the Counselors of Real Estate.

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