The following are three of the advanced Realtor designations recognized by the National Association of Realtors (NAR).

In every industry, there are those who operate on a higher, more professional level. For residential real estate, these are the CRS's — Certified Residential Specialists. 

Only five percent of all Realtors in the country have earned the CRS designation. This small, distinguished group, however, is involved in 25% of all real estate transactions, according to the Council of Residential Specialists.

How are they different?

CRS's voluntarily adhere to elevated standards of real estate practice. They achieve this through seminars and regular meetings. Toni Sherman, 1999 President of the Council, lists five reasons home buyers and sellers should specifically work with a CRS:

 Ethics.Every CRS designee is required to maintain membership in the National Association of Realtors and to abide by its strict code of ethics. All Realtors can be called agents, but not all agents are Realtors.

 Experience. To achieve the CRS designation, every Realtor must have significant experience and volume of real estate transactions. With each passing year, the requirements become more demanding.

A focus on home buying and selling. To help make the home buying and selling process more rewarding, every CRS designee must have a proven track record in the business, as well as advanced education in related areas such as finance and marketing.

Technology expertise. The training available to CRS designees includes an emphasis on technology and its applications in the real estate business.

An ability to maximize profits and minimize costs. Every CRS is trained to help clients understand the local market, screen prospective buyers and sellers, negotiate in the best interests of the client, and, ultimately, ensure a successful home purchase or sale.

At the cutting edge

CRS's are leaders into the new frontier of residential real estate. One example is consulting as an option for buyers and sellers. In some situations, it makes more sense to hire a qualified professional on an hourly basis than to pay a much higher lump sum. 

Three years ago, I attended a CRS luncheon where consulting was the educational topic. As a result of that meeting, I was able to use the information to better serve my consulting clients.

The Ph.D. of real estate

The CRS shield is the residential real estate industry's most advanced "degree". It is the sign of experience, knowledge and success. It means someone took the time and made the effort to be better.

Short for Certified Real Estate Brokerage Manager, it is awarded mainly to those who own or manage a company or office. Fewer than 1 percent of all Realtors in the nation hold this designation. I earned a CRB when I was vice president and manager of a large residential brokerage. 

To qualify for a CRB, I completed five rigorous courses, each lasting three to four days. For some, we had all-day classes followed by group projects in the evening. The format has subsequently been modified.

The fifth class, known as the "capstone" event, was, by far, the most fascinating part of my CRB experience. The group, approximating one hundred individuals, was divided into teams of about a dozen members each. We were provided with a computer simulation of a real estate company, including a roster of agents, income and expense reports, and numbers of branch offices and employees.

We were given limited time to choose a leader, divide job responsibilities and make important strategic decisions, each of which would influence not only the direction and prosperity of our "company," but all the other companies as well. Frequent computer printouts kept us informed about how our operation was doing relative to all the others. The impact of our decisions was immediately apparent. 

Only three per cent of Realtors nationwide are ABR designees.

Obtaining the designation requires experience in closing residential sales and the satisfactory completion of several extensive courses. Those who have earned the ABR have a unique perspective on the buying process. Buyers who work with an ABR notice the difference.

Before starting your home search and committing to a particular Realtor, it is wise for you to know about Buyer Brokerage. Buyers in our area have generally not heard of a Buyer's Broker, the Accredited Buyer Representative (ABR) designation that is associated with it, or the numerous benefits related to Buyer Representation. By definition, a Buyer Representative will take the time to listen to your needs and review the buying process before showing you property.

According to a 2001 National Association of Realtors (NAR) survey, 46% of buyers nationwide who worked with a real estate professional opted to have their own Buyer Representative. Despite the fact that Buyer Brokerage is common in other parts of the U.S., it has been slow to catch on here.

Although it is routine for sellers to sign a listing agreement with a broker when putting their home up for sale, local buyers rarely have a similar contractual arrangement with their agent.

• It shows you the agent is taking the relationship seriously. As a buyer, you will have someone working diligently for you.

• Your willingness to have a written agreement is an indication that you are earnest about buying.

• From the beginning, it clarifies the critical agency relationship between you and your Realtor. This is especially important with regard to "dual agency." Customarily, this is not done until right before the buyer is ready to sign a purchase contract. It is better for you to do it much earlier.

• Your agent has more flexibility to act on your behalf. You will be shown all properties, including For Sale By Owners (FSBOs), listed homes with commissions perceived by selling (buyer's) agents as too low, and new homes or condos that do not "cooperate" with other brokers. Without a Buyer Broker agreement, it is doubtful agents will show you these types of properties as they are unlikely to get paid.

• It specifies the Buyer Repre-sentative's duties and obligations as well as yours. You will receive a copy of the two-page "Buyer Inspection Advisory" at the outset, rather than just before making an offer.

• It explains how compensation to the agent will work.

Your greatest hesitation in signing a contract may be the prospect of being obligated to an agent you just met. This is handled by adding a statement to the Buyer Broker contract that either party (agent or buyer) may cancel the agreement at any time with 24-hour's written notice.

Buyers who flit back and forth between Realtors end up with less service and protection. If you want an excellent agent, you need to be willing to commit.

Final thoughts

It can take many years and thousands of dollars to receive a designation. Realtors who have earned one or more designations evidence a sincere commitment to their industry and to better serving their clients. 

The desire for continuous self-improvement is something that separates the most diligent agents from the others. One unmistakable mark of a real estate professional is reflected by the designation letters after his or her name. 

Choosing the right agent to work for you is critical. It is a decision that could have an impact for many years to come. Those who have earned the letters deserve your respect and your business.

Related Articles: Deciphering Those Letters (an excerpt of which was included here) Consultant or Agent and Buyer Representation Makes Sense (an excerpt of which was included here) .