Designations: Why Bother?
By Jennifer Brown, Director of Education

We are in a different market now; money is tight and getting tighter. Education is important, but it, like everything else, costs money. As a licensed agent or broker, you are required by the state to maintain a minimum level of professional education. As a REALTOR® you are encouraged to earn designations to specify your knowledge to an expertise and distinguish yourself from your competition. But are these designations just hype or can they really help you do more with your business? I did some research and talked to some RAR members who hold multiple designations to find out what their designations have done for them.

Upgrade your Image

There’s something about having letters behind your name that catches people’s attention. Doctors, dentists, and lawyers’ acronyms are the most commonly recognized, but when a client sees unfamiliar letters behind your name, such as ABR, CRS, etc. - they are going to ask! Agents who hold designations can confidently tell clients about what their letters stand for and how that acquired knowledge can benefit them. Connie Myers, ABR, CRS, GRI, Long and Foster REALTORS® says, “I think when sellers are interviewing several agents and they meet one with lots of designations and years of experience, they appreciate the knowledge that those designations bring to the table, especially in a very difficult market.” It will mean a lot to a client that you have chosen that level of professionalism and invested your time, energy, and money into earning a designation.

Experience at Light Speed!

Naturally you expect to leave any class that you attend more knowledgeable on the topic than when you walked in, but designation classes take the amount of knowledge you walk away with and double it! Not only do you get a heaping helping of information on the subject from an expert instructor, but because you spend several days with a group of like-minded professionals, you walk out with a close-knit network of colleagues who have shared their experience on the subject. Leroy Houser, CRB, CRS, GRI, Long & Foster REALTORS®, says, “For me the most outstanding benefit was the education that I received which drastically reduced the number of years of experience that it would have taken to learn what I learned in the classroom. All three of my designations took less than 12 weeks of classroom instruction which was a small commitment considering the benefits I have received.”

A Reliable Network of Referrals and Resources

The membership organizations that support the various designations (i.e. NAR, REBAC) are more than happy to tell you about all that you receive by being a designee. The most common tangible resources they provide with membership include: magazines, newsletters, list servs, webinars, web tools, databases, and phone support. However, what RAR designees said was most beneficial to them was the number of referrals they receive and the network of designees they can call upon for answers or to get ideas.

Barbara Reagan, ABR, CRS, GRI, Long & Foster REALTORS® says, the networking in designation classes “has allowed me to get some ideas of what agents in other parts of the country are doing and how they are doing things in their market place to help their business.” Through taking those “ah-ha” moments you can get from others and injecting those ideas into your own business you will start to see results.

Evelyn Hunt, CRS, CSA, GRI, Classic Realty Services, says that the designation network available to designees “allows an agent to give and receive referrals through a network of REALTORS® who have proven their abilities and experience through the education and investment of obtaining the designations. A designated REALTOR® rarely, if ever, would refer their re-locating client to a non-designated agent. We want to make sure our clients get the best representation.” It’s that commitment to one another that drives a steady stream of referrals amongst designees.

Be Your Own Graphics Designer

You’ve heard it before that you are your own best advertising. What better way to increase your personal promotion than by using the customizable resources offered to you through a designation membership organization? The average REALTOR® spends $1,050 on marketing and promotions a year. Almost all of the designations offer you brochures, newsletters, buyer or seller tool kits, banner ads, and website add-ons that you can use to promote yourself at little or no cost. Also, by displaying a universally recognized logo in conjunction with your information you allow the professionalism of your designation to boost your marketing.

Tom Gaye, ABR, CRS, GRI, SRES, Rushing Realty Agency & Services, says, “The marketing tools I have access to through my various designations really help me give my marketing a boost without having to spend a lot of my valuable sales time creating marketing pieces. When I meet with clients and provide them with nicely designed informational pieces, they appreciate the extra touch of service that I am providing to them.”  So, it’s like having your own design team on staff, even though you may be an army of one. The marketing pieces you have access to as a designee are very easy to customize and are eye-catching to your clients.

Give Yourself a Raise!

Who doesn’t want to earn more? REALTORS® who hold a designation on average earn $49,350 more than REALTORS® who do not. See the chart below for a comparison of non-designated REALTORS® to those who hold at least one designation or certification:

*Data pulled from the 2007 National Association of REALTORS® Member Profile

So why do designees earn more than a REALTOR® without a designation? Because they have a toolbox of tools that help them keep up with the current market, they have a continual referral source sending leads their way, and a network of people to call upon when needed. Not to mention, they create a niche for themselves which allows them to tap into a specific segment of the business. Sheri Rosner, ABR, CRS, GRI, Virginia Properties, says, “I think they help distinguish me from the 6,000 plus REALTORS® in Central Virginia. Two of my designations are specific to particular market segments and not many agents in our market have them, so I am able to set myself apart from other agents who may be going after that same business.”

So you decide. If you are the average REALTOR® who spends roughly $770 a year on your professional development, why wouldn’t you want to invest in yourself and get a designation?

If The Real Estate School can help answers any of your questions, please give us a call at (804) 422-5000.