What do those terms and initials mean after a REALTOR's® name?
To use the term "Broker" in Texas, an individual must have 900 hours of training in excess of the hours required for salesman's training and must pass a rigorous state examination. The individual must also have practiced as a licensed real estate agent for at least two years.
(Graduate REALTOR® Institute) An individual using this designation has taken all the institutes required courses, including three, one-week courses covering such topics as marketing, contracts, counseling, law and ethics. They must also have passed an exam upon completion of each segment. Fewer than 10% of REALTORS® nationwide have this designation.
(Certified Residential Specialist-The next step after the G.R.I.) The REALTORS® National Marketing Institute awards this designation only to those who complete all required C.R.S. courses, sell a certain volume, complete elective requirements, sell a certain volume, complete elective requirements and pass exam on all courses. Courses cover residential marketing, investments, taxes and the systems and methods used by the top selling agents around the country. The C.R.S. designation is the highest designation for residential real-estate and has been earned by less than 3% of the more than 600,000 REALTORS® in the United States.
(Certified Relocation Specialist)The prestigious Employee Relocation Council, an institute supported by most of the top 500 companies in the United States, awards this designation. To receive this designation must meet years of service requirements and pass a difficult comprehensive on all aspects of employee-relocation. Less than 1% of the more than 600,000 REALTORS® in the U.S. have achieved this designation. For a list of C.R.P. REALTORS® in your area, see the National Index of Relocation Professionals or contact the Dallas Real Estate Relocation Resource.
Buyer Broker, Buyer Representative, Buyer Agent
These terms indicate that the REALTOR® represents and is the agent for the buyer. the agent is obligated by written agreement to protect the buyers interest and negotiate the best price possible. Despite this arrangement the agent may still collect a fee from the Seller.