REALTORS® who have a designation earn approximately $27,000 more per year than those who don’t, according to a 2009 NAR Member Profile survey.
The survey revealed that the median income of REALTORS® without a designation was $28,400 and the median income of those with at least one designation was $55,700. REALTORS® who pursue professional designations have a distinct competitive edge as a result of their increased expertise and marketability.
That’s no surprise to Pat Moyer of Prudential Fox & Roach, Malvern. Moyer holds the Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), Green and Sustainable Real Estate Issues (GREEN), Graduate, REALTORS® Institute (GRI), Seniors Real Estate Specialist (SRES) and Technology Specialist (e-PRO) designations. Moyer is also an ABR, GREEN, SRES and e-PRO instructor.
“Designations give us authority and credibility,” she said. “I urge REALTORS® to ask themselves: What separates me from the other real estate agents? What value do I bring to the consumer? How does the consumer make a choice?”
She continued, “Designations teach you so much more about the real estate profession. It shows that you have gone the extra mile to attain more knowledge and training.”
Designations also help REALTORS® focus their business on a specific part of the population. Moyer believes the ABR designation gives REALTORS® a more professional level to their business. “This designation allows REALTORS® to connect with a larger group of people. It helps them better represent the buyer,” she added.
The pinnacle of residential designations, according to Moyer, is the CRS. “Attaining the CRS designation requires more coursework, years in the business and reaching certain sales levels. There are many criteria to meet in order to earn this designation compared to others,” she noted.
The NATIONAL ASSOCIATION OF REALTORS® (NAR) has named November REALTOR® Designation Awareness Month. For a complete list of the official NAR family designations and certifications, visit NAR’s education page.