Throughout the month of November, the Center for REALTOR(R) Development-along with the National Association
of REALTORS(R) (NAR) and all of its affiliated Institutes, Societies and
Councils-celebrate official NAR credentials. If not already explained
explicitly, official NAR credentials are called either "designations"
or "certifications." But what's the difference between the two?
For veteran Realtors(R), the answer is probably in their bones, in the fabric of their being-they just "know." But for the newer Realtors(R) among us, or those who have not yet had the opportunity to ask, the essential difference between them is dues.
In order to obtain a designation, you need to complete required coursework and/or fulfill specific requirements, and sometimes pay a nominal application fee when you apply (note that many designations require no application fee).
Once approved, you'll need to pay dues on a recurring schedule in order to keep the credential active. If you do not continue to pay the dues for your designations, they will lapse, and you may need to apply again or pay a re-instatement fee to get them back.
Below is the schedule of dues renewal for the specific NAR designations tied to the online designation courses offered at Center for REALTOR(R) Development:
Accredited Buyer's Representative(R) (ABR(R)) - First year free, second year prorated, third year $110, with a 5 percent discount if paid online before end of the year
Accredited Land Consultant (ALC) - One-time initial application fee of $75, annual dues $445
Certified International Property Specialist (CIPS) - One-time initial application fee of $75, first year prorated, subsequent years $220, billed annually in Quarter 4
Certified Residential Specialist (CRS) - One-time initial application fee of $75, annual dues $195
NAR's Green Designation (GREEN) - First year free, subsequent years $98.50
Seniors Real Estate Specialist(R) (SRES(R)) - First year free, subsequent years $99
For veteran Realtors(R), the answer is probably in their bones, in the fabric of their being-they just "know." But for the newer Realtors(R) among us, or those who have not yet had the opportunity to ask, the essential difference between them is dues.
In order to obtain a designation, you need to complete required coursework and/or fulfill specific requirements, and sometimes pay a nominal application fee when you apply (note that many designations require no application fee).
Once approved, you'll need to pay dues on a recurring schedule in order to keep the credential active. If you do not continue to pay the dues for your designations, they will lapse, and you may need to apply again or pay a re-instatement fee to get them back.
Below is the schedule of dues renewal for the specific NAR designations tied to the online designation courses offered at Center for REALTOR(R) Development:
Accredited Buyer's Representative(R) (ABR(R)) - First year free, second year prorated, third year $110, with a 5 percent discount if paid online before end of the year
Accredited Land Consultant (ALC) - One-time initial application fee of $75, annual dues $445
Certified International Property Specialist (CIPS) - One-time initial application fee of $75, first year prorated, subsequent years $220, billed annually in Quarter 4
Certified Residential Specialist (CRS) - One-time initial application fee of $75, annual dues $195
NAR's Green Designation (GREEN) - First year free, subsequent years $98.50
Seniors Real Estate Specialist(R) (SRES(R)) - First year free, subsequent years $99
Seller
Representative Specialist (SRS) - First year free, subsequent years $99
The reason for the annual dues is designations offer substantial value-added benefits which have costs associated with them in order for the program to maintain them on behalf of its members. Some of these benefits include:
The reason for the annual dues is designations offer substantial value-added benefits which have costs associated with them in order for the program to maintain them on behalf of its members. Some of these benefits include:
- Free educational webinars
- Digital resources, forms and toolkits
- Networking and referral opportunities, private social media groups
- Consumer videos and promotional items, customizable marketing
materials
- Member newsletters and premium access to industry research and
reports
- Acknowledgement and differentiation at key sites and portals such
as REALTOR.org and realtor.com(R)
- Educational credit or discounts toward other education and
credentials
Like designations, certifications are also
specialized credentials for Realtors(R). The benefits they offer hold high
value, but are not as extensive as those for designations. For this reason,
maintaining a certification requires only an application fee and continued
membership in NAR, but no annual dues.
This doesn't mean that the benefits associated
with certifications aren't valuable-they are! It's just that in most cases they
are not as extensive or resource-intensive for the program to maintain. The
benefits included with certifications are a subset of those listed above for
designations, and most often include webinars and e-newsletters.
Once you have a certification, the only way you can "lose" it is if you let your NAR membership lapse. Even then, once you re-instate your membership, you should be able to re-instate your certification at the same time. For reference, below are the application fees for the specific NAR certifications tied to the online certification courses offered at Center for REALTOR(R) Development:
Once you have a certification, the only way you can "lose" it is if you let your NAR membership lapse. Even then, once you re-instate your membership, you should be able to re-instate your certification at the same time. For reference, below are the application fees for the specific NAR certifications tied to the online certification courses offered at Center for REALTOR(R) Development:
- Short Sales &
Foreclosure Resource(R) (SFR(R)) - $175.00
- Resort & Second-Home
Property Specialist (RSPS) - $194.50
- Pricing Strategy Advisor
Certification (PSA) - $179.00
- Military Relocation
Professional (MRP) - $195.00
- At Home with Diversity(R)
(AHWD(R)) - $49.00
- NAR's e-PRO(R)
Certification (e-PRO(R)) - $110.50
To celebrate Designation Awareness Month, during the month of November, all online designation and certification courses offered in the online format through the Center for REALTOR(R) Development at onlinelearning.REALTOR are 20 percent off their regular price.
For more information about Designation Awareness Month, please click here.
www.CashBuyersLists.com
Like, Comment and Share
