Yesterday I was called by a client who was extremely excited that she got her ABR. The first question I asked is “Does having that or any designation get you more business-does it increase your bottom line?” Her response…..”Stephen-buyers and sellers want to know that they are working with a Realtor that has invested in their education-so yes it does get me more business.”
But really does it?
I can understand that the education that comes with the designation is valuable but what about the designation itself?
I am not a Realtor so what I see is from the outside looking in, that doesn’t mean that I am right or correct, it’s just my opinion.
Here is where the uncomfortable conversation starts.
I think there is a cottage industry of companies that are lining up to sell Real Estate professionals designations. But does the designation actually get you more business? Does it increase your bottom line?
We are all consumers in some way or fashion and as a consumer I wonder if a Realtor’s designations or anyone’s designations for that matter translate into more business. Does it make a buyer or seller more likely to call you? If you took your Toyota in for service, do you really care if the mechanic is TBV certified? Do you even know what TBV means? I don’t think the consumer says “Oh look honey, lets pick this REALTOR or that mechanic because he/she is a ABR or TBV. Why? Because they have absolutely no idea what it means. More importantly, they have no idea what it means to them….what is the benefit to them? Remember: What’s In It For Me?
Everything I have read leads me to believe that consumers usually are finding the area they would like to live in on the Internet, then the property, then the Realtor. When they go to the Internet, they are not looking for a Realtor, they are looking for property. When it’s time to find a Realtor, they will often pick the first one they come across to make their home ownership goals a reality.
There are tons of designations out there available to REALTOR’s: ABR, GRI, CRS, CDPE, ABRM, ALC, CCIM, CIPS, CIM, CRB, CRE, GAA, GREEN, PMN, RCE, SAA, SRES, SIOR, AHWD, E-PRO, REPA, RSPS,SFR, TRC the other day I even saw a designation for social media! If I don’t know what most of these designations mean and you probably don’t either….does the consumer? So I ask again, Is there any value for designations? Does it increase your bottom line?
In my opinion, the only designation that means anything to the consumer is the one that doesn’t even exist. I.P.P.S. or I Provide Phenomenal Service. This is a designation that consumers would surely look for, especially since real estate is a SERVICE industry.
I have an idea,…how about a new designation the “I Provide Phenomenal Service”. The “I.P.P.S.” designation would let everyone know that you are the creme of the crop in what you do. That you have the stamp of approval from other buyers/sellers that have worked with you. That you can be counted on to do as you say. Sounds like basic requirements to be in business today, sadly it’s not.
What should the basic requirements be? 90 hours of classroom instruction? Service school? A proven record of delivering on past commitments? Letters of recommendation from past clients? A high score from a secret shopper? Written Test? Bootcamp?
By the way, since I appear to be on a rant I will go one further……When the consumer see’s “Top Producer”, “Multi-million dollar producer” “Presidents Circle”etc. on someones business card or marketing,…Does It tell them that its more about YOU than THEM?
Does anyone really care that someone was a “Top Producer 2003″, it’s 2010!
About the only one that I see that has some value is the GRI, as it teaches a Realtor how to do a business plan and marketing plan.
Remember, the number 1 complaint in the real estate industry (Realtors, Escrow, Title, Lending) is lack of communication. In a service occupation like real estate many fail to provide the most basic service….Communication.
What do you think…..Are designations in real estate important? Do they mean anything? Do they increase your bottom line?
By the way….I made the TBV designation up, so don’t go around looking for a TBV certified mechanic…
Stephen Garner YTU, JUY, MHF, U-Pro, YTV. MCX, MP3, KGB, FBI,

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