Do you ever wonder what all those initials are about? You know that long list of three and four letter abbreviations after Realtors names? If you were to look at mine, you would see Kathy Sperl-Bell, Broker, ABR, CRS, SRES. Most consumers do know what a Broker is, but dont know and probably dont really care about the others.
As a Broker, I do care because it tells me a lot about the REALTOR that I may be thinking of hiring or to whom I may be sending a Referral. Each designation requires additional education, passing at least one test per class (sometimes more!). There is also a cost of several hundred dollars to a few thousand, depending on the designation. Lets break it down and find out what these letters mean for you:
Broker
Every Real Estate office in Delaware must have a Broker of Record. The Broker does not have to be the owner, but only a licensed broker can buy or sell, or negotiate the purchase, sale or exchange of real estate on behalf of a client or customer. A Real Estate Agent or Salesperson must work under the management and direction of a Broker. Before an agent can become a licensed broker, they must have completed 5 years in the business and document a minimum number of real estate transactions. Then you get to take 90 hours of classes, several tests, the State Exam and voila you can become a Broker.
ABR
This is short for an Accredited Buyer Representative. What this means to you is that an Agent made a conscious decision to take the classes and become certified to work with Buyers and help them find the right home in the right location, regardless with whom the property is listed. It used to be that all agents represented the Seller, but now you may be represented by a Buyer Agent whose primary job is to represent you. Only a REALTOR in good standing can become an ABR.
CRS
This stands for Certified Residential Specialist and is one of the most respected designations a REALTOR can earn. To apply for CRS an agent must have completed 75 transactions or $25 Milliion in transactions within a 5 year period. Then there is a requirement of an additional 64 credits (hours) of education chosen from specific classes designed to really learn how to be a better REALTOR.
SRES
A Seniors Real Estate Specialist is a REALTOR that has pursued a course of education and certification to specialize in working with clients age 50 or above (what I call Boomers and Beyond!). We help our clients research future retirement housing options, buy a second home that may become a full time residence in the future or sell the large family home and look for more appropriate housing that will provide years of comfortable living.