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DESIGNATIONS
What are they?
And what do they mean?
There are many designations for real estate agents. Each designations means something different. A designation is like a mini "degree" for real estate. It is a way of telling their clients and other agents that they have completed specific education requirements for a certain type of real estate. The Utah Real Estate Guy team has many designations. Below is a list of what each designation means that we carry.
The first and most commong Designation is the REALTOR® "R" and and the MLS logo.
Not all real estate agents are REALTORS®. A REALTOR® is a real estate agent that has voluntarily become a member of the National Assocation REATLORS®. This association (known as the NAR), is a self governoning body. The NAR provides a strict code of ethics and code of conduct for their members. If agents do not live up to these codes, they can be punished by the NAR. This differs from many states "Real Estate Divisions" which are run by the state. The NAR has a more strict approach in dealing with its members, as well as more timely results than the process the state provides through the real estate division. Real Estate Agents that have joined the NAR have committed to being held accountable by not only the state, but by the orginization as well should they break any laws, rules, or rules of ethics or conduct. Make sure your agent is a REALTOR(r).
The Multiple Listing Service, known as the MLS, is a private corporation hired by the brokers within a certain area. Real Estate brokers run this "co-op" and have agreements that any property listed for sale on the MLS, can be sold by any member broker or agent. This ensures a healthy real estate market because this allows your agents with The Utah Real Estate Guy team, to not only show you and sell you our listings, but also to be able to show you and sell you any home listed on the market for sale. Make sure your agent is a member of the local MLS in order to have your home seen by the largest group of REALTORS®, or to ensure you can see the largest number of homes if you are a buyer.
GRI stands for "Graduate REALTOR® Institute". The GRI designation is a powerful one for the real estate industry. In order to obtain a GRI designation, the agent must attend around one hundred hours of classes. These classes are designed to cover a wide variaty of real estate business including:
- Understanding different cultures
- Real estate investment analysis
- Understanding contracts and real estate law
- Watching for loan fraud and its environmental impacts
- Understanding taxation
- Knowing fair housing
- Keeping high professional standards
ABR stands for "Accredited Buyer's Representative". This is a designation that can only be earned after first taking classes specific towards helping clients buy real estate, as well as having produced a high number of real estate buyer transactions. When you see a REALTOR® with an ABR designation, you know that they understand how to work with buyers, and how to think like a buyer.
e-Pro is a special REALTOR(r) designation available to real estate agents that have taken multiple hours of technology training. This training is aimed at making sure that agents know how to use the most current technology available in order to best service their clients.
CRS stands for "Certified Residential Specialist". This is a designation that can only be earned after frist taking classes specific towards helping clients buy and sell RESIDENTIAL real estate, as well as having produce a high number of residential real estate transaction. When you see a REALTOR® with a CRS designation, you know that they have the knowledge and expertise to help you with a residential transaction.
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