What is the NAR?
The National Association of Realtors (NAR) is the professional trade organization for people who sell real estate. To belong to the NAR, realtors must pay an annual membership fee, take training courses and can choose to attend an annual NAR conference. Members of NAR receive updated realty information through magazines, and through their local NAR organization, making them, on the whole, more informed sellers of real estate than those who are not members of the NAR.
What are NAR designations? The NAR gives out certain designations to member realtors who have taken courses, and have had workplace experience in specified areas in real estate. Listed below are some of the NAR designations, and what type of specialization the realtor with this designation has.
Accredited Buyer Representative (ABR): If you are buying a home, finding a realtor with the ABR designation will be beneficial. A realtor with this designation has had coursework that focuses on the legal and other aspects of working with a client. Someone with this designation must also have real-life experience representing a buyer.
Certified International Property Specialist (CIPS): If you are from outside the United States and moving to the United States , or if you are from the United States , but moving out of the country, you should find a Certified International Property Specialist. They speak more than one language, and are taught the needs of persons moving into foreign countries.
Certified Residential Specialist (CRS): Planning on buying or selling a home? You want the help of someone with this NAR designation! This is the “PhD. of residential real estate.” This designation requires, among other things, 10 years of residential real estate experience.
Certified New Homes Sale Professional (CSP): Looking at newly built homes? Does your realtor have a CSP designation? The courses required for this designation, helps the realtor become an expert in home building, new home cost, and the differences in selling a new home vs. a pre-owned home.
Graduate Realtor Institute (GRI): Most realtors have the GRI designation, which simply means t the realtor had at least 90 hours of course work covering buying and selling a home.
Leadership Training Graduate (LTG): To receive this designation, a realtor must give several hours of volunteer service, and show personal and professional growth.
Senior Real Estate Specialist (SRES): A realtor with a SRES designation had training specializing in working with clients who are older than 55.
Is there a difference between a real estate agent and a realtor?
Yes. Real estate agents do not belong to the NAR. Therefore, they do not have any NAR designations. Real estate agents do not receive the national and local training a realtor (who does belong to the NAR) has. Both can help you when it comes to buying or selling a home. A realtor has more training. A specialized realtor with one or more NAR designations may know things a real estate agent would not or does not know.
By Clint Hunter