What do the letters behind a real estate agent’s name stand for? Real estate agents, like doctors, lawyers, and other professionals can ear designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common designations and certifications are: Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.What does an agent have to do to obtain the designation or certification?e-Pro requires an agent take a class on basic computer skills. It has no real estate content, but ensures your agent can use email and the web. It should really be a bare minimum bar for the technology aptitude of your agent.REALTOR is the one of the easier credentials to obtain (but one of the hardest to live up to). A REALTOR is a real estate agent that belongs to the National Association of REALTORS and agrees to follow the Realtor Code of Ethics. You can read about the code here http://www.realtor.org/mempolweb.nsf/pages/Code?OpenDocumentBroker is a bit harder to obtain than REALTOR. In Texas, for example, a broker license is required to be able to operate your own real estate company. An agent must have their license for 2 years and complete over 600 hours of real estate education prior to applying for a broker’s license. The broker’s license is granted upon completion of an exam administered by the state. Brokers are basically real estate agents with advanced educations.GRI stands for Graduate Realtor Institute. Less than 50% of agents have this designation. The GRI requires 12 days of continuing education with passing grades on three exams. There are no production or time requirements so an agent can literally earn this designation by sitting in class for 12 days and passing the tests. This designation is in no way a measure of real estate sales experience.ABR stands for Accredited Buyer’s Representative. Less than 30% of agents have this designation. This designation combines 2 days of classroom work and an exam with the requirement that the agent show proof of at least five buyer sales. This designation shows that the agent has had both formal classroom time and in the field experience.CRS stands for Certified Residential Specialist. Less than 4% of all agents have this designation. This is the most difficult designation to obtain and is a measure of a high degree of formal education and real world transactional experience. To obtain a CRS, the agent must attend three 2-day classes, pass three exams, and provide proof of 25 closed transactions within the last 24 months. While the transaction experience isn’t a huge amount, it does weed out the inexperienced agents and the classes weed out those agents who aren’t dedicated to continuing education.Other designations are out there, but for the most part they are issued by inconsequential groups and have no real bearing on the agent’s abilities and are used more for marketing purposes than anything else.
Posts Tagged ‘Agent’
Alphabet Soup? Nope, Those are Real Estate Agent Designations!
Friday, February 26th, 2010Choosing a Real Estate Agent to Sell Your Home
Sunday, February 21st, 2010If you are considering, or have decided to put your real estate up for sale then you are probably looking for a real estate agent. What do you need to look for in an agent so that your experience turns out not only positive, but hopefully resulting in the sale of your property.
Any agent you consider should be licensed by the state they are operating in. It is surprising how many property owners do not check this out before listing with an agent. You do not want to spend time and effort only to find out later down the road your agent is not fully licensed.
Look for a successful agent who is very active with lots of listings. Generally real estate agents who are successful at listing and selling property will have many listings. Those that are not as good as actually getting property sold have few if any listings. You should see signs, newspaper ads, commercials, and other marketing materials often if the agent is making deals. Agents who actually market the properties they list usually have a higher success rate.
So where is a good place to start the search for that successful agent who can potentially sell your home? Start by asking your friends, family, and neighbors about the agent they used on their real estate deals. The either positive or negative response to this enquiry will give you some leads to follow and agents you might want to avoid as well. Also consider the real estate firm the agent works out of the offices of. Large nationally known firms have higher standards for their agents than smaller locally based firms. Though there are some diamonds in the rough in these local firms. Consider the agents in the firm that regularly win monthly sales awards, these are the aggressive marketing agents who get results. Finally do online research at sites that gather data on licensed real estate agents. This will give you hard numbers to make your decision on.
Of course you also need to ensure that the personality of your real estate agent does not conflict with yours. Some people just have traits that do not mesh with others and you do not want to have any conflict with the person selling your home. Communication is essential between a real estate agent and the home seller. A lack of communication or miss-communication can lead to conflict and hard feelings, which can impede the sell of your home.
Once you have an agent you would like to work with discuss with them how they plan on marketing your home. Get their response in writing! This will give you an idea of what exactly your agent will be doing for you. Many of these marketing tactics you can check on your own to ensure he is following through with your agreement. You can view your listing online on the local mls, any ads placed in papers, and know the marketing is being aggressively done on your property.
Advice for Choosing a Scottsdale Real Estate Agent
Saturday, February 20th, 2010Before you begin looking for real estate in Scottsdale, you need to first find a Scottsdale real estate agent. Although you may think you are capable of finding a house on your own, the truth is that most sellers list with a Scottsdale realtor, so it will be very difficult to locate Scottsdale realtor without the assistance of a realtor. Even if you find something in the newspaper that is listed by a Scottsdale real estate agency, you must remember the listing agent is interested only in selling a house for the seller of that property. In the event you do not like that property after seeing it, you will be back to step one again. Choosing the right Scottsdale real estate agent is the first step toward finding the perfect Scottsdale real estate. The first thing you want to avoid when looking for a Scottsdale realtor is to avoid using the services of the listing agent or even the same real estate agency. Since the listing agent is contracted by the seller, his services to the buyer will be prejudicial. The potential buyer must enlist the services of his own Scottsdale realtor in order to assure that he has someone who is looking out for his best interests. You also want to choose a realtor that is familiar with the type of real estate you are seeking and the areas where it is most likely to be found. The key to choosing the best Scottsdale real estate agent is looking for someone that is willing to work with you on your time schedule. You should also choose a Scottsdale realtor that is willing to go the extra mile to help you find the right property or Scottsdale luxury real estate that you desire. In order to find a real estate agent in Scottsdale, Arizona with which you can work, you want to begin by checking their sales figures and asking for referrals from satisfied clients. Any Scottsdale real estate agent can help you find a home, but to find the perfect home for you and your family, you need a qualified real estate agent in Scottsdale, Arizona to assist you.If you’re in the market for Scottsdale luxury real estate, it’s important to view any Scottsdale, AZ real estate listing to develop a feel for the market availability before you seek a Scottsdale luxury real estate agent. By checking the listing first you have an idea of the kind of luxury real estate that is available in Scottsdale. The information will allow you to develop a list of your preferences before you contact a realtor to help you begin your search for a new home.
Tips for Choosing a Real Estate Agent
Thursday, February 4th, 2010If you are buying a home, choosing a real estate agent may be the most important decision you make. A good real estate agent can help ensure that you are notified of homes that meet all your criteria. A good agent will also answer your questions and will walk you through the buying process, which is an invaluable service for first-time homebuyers. Despite all this, most buyers choose their agent in a completely haphazard way, simply falling into a relationship with the first real estate agent they encounter. A much better strategy is to do some sleuthing to uncover the agent who will truly help you find that perfect property. You can find the right professional by:
1) Interviewing candidates. It may seem like a lot of work, but comparing different real estate agents from different agencies can quickly show you which agents you respond best to and which ones seem to offer the best service. Interviews also allow you to assess experience, education, and other factors important in a good real estate agent.
2) Checking qualifications and sales. Look for a real estate agent who has some experience and has been on the job long enough to have expertise in the area. Ideally, you want someone who has worked as an agent for years in the same area and has an impressive sales record. In every community, you will generally find a few agents who perform very well because they know what they are doing and are good at what they do. Look for these agents and check to make sure that no complaints have been filed about them with the State Board of Realtors.
3) Lining up personalities. Buying real estate is highly emotional, so it is important to find someone you are compatible with. Look for a real estate agent you can really communicate with. If your personalities do not match, you may feel that your real estate agent is not doing enough for you and your real estate agent may get frustrated that you are not placing any bids. Find someone that registers a high comfort level with you and you can avoid these problems.
4) Making sure that your real estate agent is creative. Your agent will use the Multiple Listing Service (M.L.S.) to find homes, but he or she should also use their knowledge, contacts and experience to find homes that match your needs. You don’t want someone who can simply run simplistic searches you can run yourself from home.
5) Ensuring that your agent knows the area. A real estate agent who knows the area where you hope to buy can help you understand what is available and at what prices.
6) Checking customer service before you enter into a relationship. Real estate agents are busy people, but they should still be able to offer you good care. Your phone calls should be returned, your concerns should be addressed and you should be able to contact your real estate agent when you need to. If your agent uses an assistant, you need to ensure that it is the real estate agent themselves who will handle all work with contracts as well as the closing. That is what you are paying your real estate agent for. Stay away from agents who seem distracted, disorganized, and are not able to interact with you personally. You may find that your home buying experience suffers with these sort of agents.
The good news is that there are plenty of terrific, highly qualified real estate agents out there. Now that you know what to look for, you can hunt them up and have superlative help when it is time for you to buy property.
What Your Ontario Real Estate Agent Won’t Tell You – Part III
Tuesday, February 2nd, 2010 1. Showing you bad houses to buy before showing you the target house. Your Real Estate will first show you a series of houses in terrible condition and is overpriced. Then, after you see your terrible selection and you believe these houses are what you after to work with. Once that belief is set in, then your Real Estate Agent will show you a nice house. By the Law of Contrast, a valuable house looks even more valuable when it comes after a worthless house. If you find yourself viewing houses that are just rip offs, be careful when you see a decent house. It is actually less valuable than you believe. You Real Estate Agent may even try to compliment those worthless houses so that when decent house shows up, you believe it’s your perfect home! 2. Making you travel to look at the houses you want to buy first. This is a very common practice and it would seem to make sense. You would need to look at the houses before buying it, correct? Well, there is reason behind the Real Estate Agent wanting you to travel and spend your valuable time staring at these houses. By spending so much time on one house, it becomes too much of an effort to find your perfect house. You end up settling for your less than desired house. What should be happening is that before looking at the house, you should request a comparable analysis. Your Real Estate Agent has statistical information about the houses you are looking at and houses similar to what you are looking at. This statistical information reveals the market value of the home and whether the home is worth you TIME. By not showing you the comparable analysis, the time, effort and pain it takes for you to search for a home causes you to make a decision faster. If the Real Estate Agent shows you the comparable analysis first, it reduces the pain and you would wait longer to decide. Also, the Real Estate agent has to spend time to create the comparable analysis report where most likely, they would not want to do. Rule of thumb: Find a Real Estate Agent that will give you the comparable analysis first. Now, this isn’t to say you should never look for the house first. There is one exception. When you first meet your new Real Estate Agent, there is some level of concern on the agent’s side. The agent is spending valuable free time on you, gambling that you would buy a house through him. So if you start off by requesting comparable analysis, he will not do it. Any honest Real Estate Agent would not do it. A comparable analysis is valuable information that the Real Estate Agent gets for being a Real Estate Agent. They need to pay a fee to be a Real Estate Agent. What the Real Estate Agent needs to know, is that you need to provide some “level of comfort” that you will certainly buy the house through him in order to get the comparable analysis. To me, this is fair because if the Real Estate Agent is going to spend the time on you to help you find a home, then it would only be fair that you buy through him and let him get the commission. The legal way to show this “level of comfort” is to sign the 90-day commitment contract that indicates you would only work with him and no other agent for 90 days. This legal way is by no means the only way nor is this a bad way, either. It is only a matter of preference and your relationship with your Real Estate Agent that determines the best approach. 3. Encouraging you to put a high security deposit when writing up a contract to purchase your desired home. A security deposit informs the seller you are interested in purchasing the property and the amount lets the seller know how serious you are. The higher the amount, the more serious you are. The moment the contract is agreed upon by both parties and signed, you must provide the security deposit within the set time specified in the contract. This security deposit is suppose to be returned to you if the contract becomes null and void, if the conditions (usually financing and inspection) specified in the contract fails. Now, this procedure seems to be fair. Here is where the problem lies: If the contract becomes null and void and you want your money back, all parties must sign a form called a Mutual Release. This signature must include the buyer, buyer’s agent, seller and seller’s agent. If any one party does not sign, you will not get your money even if the contract has been null and void. If anyone party refuses to sign, you have to go through court, most likely small claims court, to settle your dispute and if you know anything about the court system in Canada, you know your court date could be as long as two years away! You should never be serious in buying house. It is poor negotiating tactics. If your Real Estate Agent encourages you to put a high security deposit, it is because your Real Estate Agent wants you to be serious about purchasing the property even though it is poor negotiating tactics. The reality is your security deposit can be very difficult to get back. Sadly, this is the general process in most home buying transactions and it is a very poor process. And did you know…
IT IS NOT NECESSARY TO PUT A SECURITY DEPOSIT AT ALL!
There are no limitations to a contract. It is only a matter of agreement. You can write anything you want on the contract as long as both party agrees. My suggestion is to encourage your Real Estate Agent to only provide the deposit after the contract passes the conditions. This is possible, but only if your Real Estate Agent is willing. Once again, I cannot stress this enough, to find a Real Estate Agent do not search through the Internet and pick the first one you see. Good salesmen do not make good Real Estate Agents. If you have any more questions or concerns, feel free to e-mail me at admin@freerentalads.ca You are also certainly welcome to e-mail me your good and bad home buying experiences. I may or may not choose to post them up. More to Come!
What Your Ontario Real Estate Agent Won’t Tell You – Part II
Sunday, January 31st, 2010 Bad Real Estate Agents in Disguise I classify bad Real Estate Agents are those sneaky Real Estate Agents who claim to help you, but really just looking to get the commission. How do these bad Real Estate Agent masquerade as good ones? 1. The Bad Real Estate Agent pretends to be a Hard Worker If you hire a Real Estate Agent, you want them to work hard for your money because you do. And Real Estate Agent knows that. Salesmen know that. But working hard never guarantees success. A Real Estate Agent, like all people, should be have some level of workmanship, but not to the point of slavery. Do not be gullible enough to believe your Real Estate Agent will climb mountains for you. It is just a job. He should have other priorities. Do not base your Real Estate Agent selection based on how hard they work or how must time they spend with you. If your Real Estate Agent is wasting too much time pretending to work hard, then your Real Estate won’t have time to actually get you valuable information you need to make an informed decision. The moment the contract is signed and the agent get the commission, Bad Real Estate Agents will run to the next sucker and never want to talk or help you anymore. 2. Charmer Every now and then, you’ll meet the person who knows exactly what to say. He knows the words you are looking for you and make you feel comfortable to trust him. When trusting an agent, don’t look for how kind, gentle, or how witty he is. Look for the results. What has the Real Estate Agent really done for you? 3. Not providing sufficient information. Information is vital for you to make important decisions. Bad Real Estate Agents will hide information in order to get you to make the decision to buy the house. To make sure the agent is being absolutely honest with you and providing you all the information you need to know, always have another reliable source to verify the information. One good way to find honest Real Estate Agents is through referrals. If you friends have experience good results from the agent, then at least you found someone honest and you know the results. Do NOT go through the Internet and pick the first agent you see or the agent that has the most advertisements. They are just spending marketing money, which they intend to recover from you. I especially find the ones that are top ranked search engines to be the most conniving, especially the Mississauga location!!! Now for the good news. If you are fair and you are looking for a human being Real Estate Agent and you treat them like a human being with no slavery expectation, you should be able to find a decent Real Estate Agent to help you. There are indeed plenty of honest agents that are really hiding because they are too busy helping their clients. You have to scout around and do a lot of homework to find that close-to-perfect agent that matches your needs. Using the information in this article, you should be able to filter out the bad agents. Now, after all this discussion, one may even be asking whether you need a Real Estate agent. In private homes sellers, you do not. Only homes where sellers have a Real Estate Agent, you do need buyer’s Real Estate Agent to protect you. Whether you want to purchase home through private or through an agent should not be a deciding factor. Simply look at the house you want to buy and the price you want to buy it at. If your selected house requires a Real Estate Agent, then you should get one, too. If you have any more questions or concerns, feel free to e-mail me at admin@freerentalads.ca You are also certainly welcome to e-mail me your good and bad home buying experiences. I may or may not choose to post them up. For those who have not read my part 1, please do so. My next articles will take a closer look at tactics Bad Real Estate Agents pull.
Top Seven Signs That You’re a Real Estate Agent
Friday, January 29th, 20107. You can make anniversary dinner reservations on your cell phone at your spouse’s favorite restaurant while filling out property sale closing forms in a Seattle’s Best drive-thru line up.
6. Your cell phone chimes the Imperial March from Star Wars whenever “FSBO” is mentioned in a text message.
5. You learned everything you know about computers and the Internet while developing five different websites to attract leads away from the local FSBO website.
4. You have customized email replies for every type of client or lead, and several for social situations.
3. You and your spouse meet a nice couple from your area on a vacation in the Caribbean, and have a discussion about work back home. As soon as they find out you’re a real estate agent they want investment advice. It’s all they want to talk about when you see them the next day at the hotel pool bar, and it’s all they’re interested in later at dinner on the waterfront. Your spouse and them seem to hit it off, and you have to admit they’re pretty nice people with the potential to become great clients. The thing is, you just came here to relax, work on your tan, and at least pretend to read a good crime novel. The next day in the middle of a snorkeling excursion with dolphins they start asking about foreclosure properties, and you casually tell them to just enjoy the water, and maybe ask you about it later, or preferably in your office back home. The couple responds with raised eyebrows, and the rest of the excursion is blissfully shop-talk free. Later that evening it’s just you and your spouse for dinner. You ask what the other couple is up to, and your spouse tells you s/he isn’t sure, but wouldn’t be surprised if the four of you never spoke again after your rude outburst earlier that day. The last two days of your trip go well enough – you finish the crime novel and return home refreshed. The couple never calls, but months later one of your colleagues closes a multimillion dollar waterfront property with them, which happens to be just a couple blocks from your house. Sorry, personal rant, but you get the point.
2. Servers at all five of your favorite restaurants begin to chide you for wearing moderate variations the same outfit every time you come in with a big-time client or a valuable lead.
1. Three of your five favorite restaurants are Seattle’s Best outlets.
A Bodega Bay Ca Real Estate Agent Can Offer you Top Quality Property at Competitive Prices
Thursday, January 28th, 2010Bodega Bay homes for sale provide the discerning buyer with a wide selection of different sized properties for use as vacation houses or to live in permanently. The scenery in Bodega Bay attracts many visitors as well as those on the look out for a safe and relaxing place to settle down and bring up a family. The Bodega Bay ca real estate agent that you choose will be able to find any property to best suit your needs and you will have no problem finding the size and style of home you desire.
Bodega Bay is situated in California and has been host to a few movies like Sleepwalkers and Alfred Hitchcock’s “The Birds” that were filmed in its gorgeous surroundings. Your
Bodega Bay ca real estate agent will also be able to show you the various sights and sounds of this small town like the best fishing spots and the best beaches for exercising the dogs or for surfing. Aside from water activities there are magnificent golf courses and fields for playing football or a friendly game of soccer.
If you are is search of a sound investment then Bodega Bay homes for sale will offer you the perfect opportunity as there are large well kept homes that have private gardens and piers for boating, but there are also smaller apartments that are quiet and serene for those couples who just want a well deserved break from city life every so often.
The prices that you will be offered by your Bodega Bay ca real estate agent are very competitive and considering the great lifestyle that one can have here, the investment will be well worth its while. A combination of contemporary architecture and small town warmth means that all of the available houses ooze with a friendly, comfortable atmosphere and ease of lifestyle which will make you feel at home immediately.
If you have a younger family then Bodega Bay can still give you everything you need in life. The schools are excellent and sporting facilities top quality. The parks, beaches and surrounding areas are safe and the kids will have hours of fun while you enjoy shopping at the local markets and stores or venture a short distance inland for a shopping spree at the malls. All in all, the best choice you can make for a happy, peaceful life or for a rewarding investment purpose is to purchase any of the
Bodega Bay homes for sale.