Alphabet soup
You might already know that licensed real estate agents have annual continuing education requirements with the state of Colorado to keep their license in good standing. Over each 3-year period, agents must take 24 hours of education. In addition to this requirement, some agents pursue additional courses which, if passed, allow them to use designations, like “GRI” or “ABR”, following their name. These designations identify agents as experts in the associated subject matter and can help buyers and sellers in choosing an agent with appropriate specialties.
At RE/MAX Mountain West, we have many agents who have obtained additional designations! Here are the top 4 designations that our agents hold:
SRES® = Seniors Real Estate Specialist. Agents take a 2-day course which teaches them how to better serve the real estate needs of the fastest growing market in real estate, which is clients age 50+. The sponsoring organization of this class, the SRES Council, provides a platform for US- and Canadian-certified agents with additional resources, benefits and networking opportunities.
ABR® = Accredited Buyer’s Representative. This is designed for real estate buyer agents who focus on working directly with buyer clients at every stage of the home buying process. Agents take a 2-day course plus 1 elective and must pass a test. In order to even take the class, the agent must already have had 5 transactions where broker acted as a Buyer’s Agent (see our Newsletter Issue 2021 Vol 10 for more on Agency). The agent must also join REBAC (Real Estate Buyer’s Agent Council).
GRI = Graduate, Realtor® Institute. This state-specific designation is designed for residential real estate agents. The course of study helps agents increase their knowledge and skills in a broad array of technical subjects with additional focus on the fundamentals of real estate. The substantial course material provides in-depth training in legal and regulatory issues, technology, professional standards, and the sales process.
In Colorado, agents must complete 15 courses worth 56 hours of credit to obtain this credential.
CRS = Certified Residential Specialist. This is the highest credential awarded to residential sales agents, managers, and brokers and covers a wide range of subjects. To even apply for this designation, there is an agent performance threshold to be met; in other words, an agent can’t just take a class/test and get this designation. Agents must have had 60 transactions or $30M in volume in the past 5 years, or must have been licensed for at least 10 years, with at least 150 transactions or an average of $1M per year with 40 transactions. The minimum required courses start at 16 credits and increase to 30 credits depending on the agent’s performance history. After the CRS designation is obtained, agents must take additional recurring classes to keep it.
There are many more designations available to licensed real estate agents; if you’d like to learn more, head to www.nar.realtor for details!