What do the letters behind a real estate agent’s name stand for? Real estate agents, like doctors, lawyers, and other professionals can ear designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common designations and certifications are: Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.What does an agent have to do to obtain the designation or certification?e-Pro requires an agent take a class on basic computer skills. It has no real estate content, but ensures your agent can use email and the web. It should really be a bare minimum bar for the technology aptitude of your agent.REALTOR is the one of the easier credentials to obtain (but one of the hardest to live up to). A REALTOR is a real estate agent that belongs to the National Association of REALTORS and agrees to follow the Realtor Code of Ethics. You can read about the code here http://www.realtor.org/mempolweb.nsf/pages/Code?OpenDocumentBroker is a bit harder to obtain than REALTOR. In Texas, for example, a broker license is required to be able to operate your own real estate company. An agent must have their license for 2 years and complete over 600 hours of real estate education prior to applying for a broker’s license. The broker’s license is granted upon completion of an exam administered by the state. Brokers are basically real estate agents with advanced educations.GRI stands for Graduate Realtor Institute. Less than 50% of agents have this designation. The GRI requires 12 days of continuing education with passing grades on three exams. There are no production or time requirements so an agent can literally earn this designation by sitting in class for 12 days and passing the tests. This designation is in no way a measure of real estate sales experience.ABR stands for Accredited Buyer’s Representative. Less than 30% of agents have this designation. This designation combines 2 days of classroom work and an exam with the requirement that the agent show proof of at least five buyer sales. This designation shows that the agent has had both formal classroom time and in the field experience.CRS stands for Certified Residential Specialist. Less than 4% of all agents have this designation. This is the most difficult designation to obtain and is a measure of a high degree of formal education and real world transactional experience. To obtain a CRS, the agent must attend three 2-day classes, pass three exams, and provide proof of 25 closed transactions within the last 24 months. While the transaction experience isn’t a huge amount, it does weed out the inexperienced agents and the classes weed out those agents who aren’t dedicated to continuing education.Other designations are out there, but for the most part they are issued by inconsequential groups and have no real bearing on the agent’s abilities and are used more for marketing purposes than anything else.
Archive for the ‘Real Estate’ Category
Alphabet Soup? Nope, Those are Real Estate Agent Designations!
Monday, July 11th, 2011Avoid Top 10 Mistakes Made By Real Estate Investors
Monday, July 11th, 2011Real estate investment is perhaps one of the most lucrative forms of investment today. But it is also equally risk bound especially when one is not well versed with the trends and nuances of the real estate market. So if you are contemplating on investing in real estate, it is best to avoid costly mistakes in real estate investment especially when you invest your hard earned money into it. Knowing the most common mistakes made by real estate investors helps one steer away from making such mistakes in the future and ensures good return on investment.
Here are the top ten mistakes made by real estate investors, according to bankrate.com. Bankrate has put together the top ten mistakes after speaking to established, full-time real estate investors and other professionals involved in real estate investment such as bankers. Read on to know them and avoid them.
1. Not planning up ahead. Lack of a proper plan is the biggest mistake made by novice investors. Finding a house after forming a proper investment strategy is the right way instead of looking for a house to fit the plan. Many make the mistake of buying a house because it seems to be a good deal and then trying to see how they can fit it into their plan. Instead of buying a house and thinking one can plan in due course, investors should rather concentrate on the numbers and try to make offers on multiple properties. This will ensure a good property that not only matches their investment model but also works out well with the numbers they had planned for.
2. To believe you can make money quickly. The second major mistake that real estate investors make is to think it is very easy to get rich in real estate. This is only a myth and the reality is that investing in real estate is a long term project.
3. Doing it single-handedly. For becoming a successful real estate investor one needs to build a team of professionals who would assist the investor in his deals. This would ideally include a real estate agent, an appraiser, a home inspector, a closing attorney and a lender.
4. Making excess payment. One another reason that investors in real estate goof up in their investment is by paying too much for the properties they buy. Paying too much and locking up all the funds in the erred property deal will leave you with no money to redeem yourself.
5. Leaving out the groundwork. Not doing your homework could be a costly mistake if you were a real estate investor. Every field of business needs sufficient amount of homework to be done, and real estate investment is no exception. Learn the fundamentals and then venture into investing in properties.
6. Throwing caution to the winds. Investors have to exercise a certain degree of caution and take earnest efforts while making a deal. New investors often fail in this regard and sign a deal without doing adequate research on the property.
7. Miscalculating money flow. Investors whose strategy is to buy, hold and rent out properties need to ensure sufficient cash flow for maintenance. Property managers could be expensive and the owner has to incur more expenses such as mortgage, taxes, insurance, advertising costs etc. Investors have to allocate their budget such that all these expenses are taken care of, or end up having their asset turn into a liability.
8. Lowering the volume. A larger volume of deals or transactions helps in increasing the profits by reducing the impacts of marginal deals.
9. Getting trapped in your own deal. Having more number of options at hand for the property you buy is a wise strategy. This helps one to be prepared for fluctuations in the real estate market. Plans to rent out the house could go awry when the rental market slumps. Having alternative plans helps you cut down losses and tackle unexpected situations.
10. Making incorrect estimates. People who plan to rehab their house need to check if they will still reap the benefits at double the time that they had estimated. This ensures they do not miscalculate and lose money on the deal.
Flooring Provides with High Performance System
Monday, March 21st, 2011Resin bonded flooring provides a high performance system which will undoubtedly meet your specifics for different types of flooring requirements. It is steadily gaining world-wide popularity, especially in the U.S. and U.K. It can be suitable for a wide array of service conditions, from regular foot traffic to constant heavily loaded hard plastic-wheeled trolleys, all the way to severe fork lift truck impact and frequent heavy duty vehicle passage. This category of flooring is a natural winner during floor selection process because it is considered by many to be satisfactorily long-lasting.
If you are considering resin bonded flooring as a stand-out option for your home or industrial improvement projects, it would be very beneficial if you would be able to take the time out to look for contractors who are specialists in resin surfaces, several of these companies are located in the U.K. and they are definitely catering to customized resin bonded flooring, as well as resin bound paving. These contractors carry out domestic or commercial paving services and they would surely be able to furnish you with all the necessary information regarding the general durability description and typical thickness of resin bonded flooring which will best suit your needs and that are readily available in the market.
Commercial paving service manufacturers in the U.K. can produce a variety of decorative resin bonded flooring effects, which can be achieved by incorporating colored particles or flakes in the surface. Slip resistant and anti-static or conductive versions that are mainly used for resin bound paving can also be requested or acquired from industry specialists in resin surfaces located all across the U.S. and U.K.
There is no doubt that most people will normally choose resin bonded flooring over any other material because of the quality of the product. It is also evident that both commercial and domestic paving service contractors are quite happy to take advantage of the versatility of resin bonded flooring or resin bound paving in terms of design and the numerous usable functions where it may be applied.