A REALTOR® is a licensed real estate agent who is a member of the National Association of REALTORs® (NAR) a membership organization of some 720,000 real estate agents in the United States. In Canada, the corresponding professional organization is the Canadian Real Estate Association (CREA). A licensed real estate agent does not have to be a member of NAR or CREA to practice real estate.
In real estate, a broker has earned a broker's license. Many brokers own their own real estate office and are "brokers of record," with other real estate agents "hanging their license" under the broker of record. About 40 percent of RE/MAX Associates have earned their broker's license.
Real Estate Designations
- ABR - The Accredited Buyer Representative designation indicates a real estate agent specializing in representing buyers in the real estate transaction. The ABR is conferred by the Real Estate Buyer's Agent Council (REBAC).
- CCIM - The highest designation of commercial specialists is the CCIM, Certified Commercial Investment Member, conferred by the Commercial Investment Real Estate Institute of NAR.
- CRB - The Certified Real Estate Brokerage Manager designation, conferred by the Real Estate Brokerage Managers Council, identifies brokers who have taken an extensive array of courses oriented toward enhancement of brokerage management skills.
- CRP - The Certified Relocation Professional certification is conferred by the Employee Relocation Council (E-R-C). The designation denotes relocation professionals who specialize in relocation and who pass the demanding requirements of E-R-C. RE/MAX has about 70 percent of all real estate CRPs in the United States.
- CRS - The Certified Residential Specialist designation, offered through NAR, denotes an agent who specializes in residential real estate. Only about 3 percent of the members of NAR have earned this designation, while more than 16 percent of RE/MAX Associates have their CRS.
- GRI - Only about 9 percent of all REALTORs® have earned the designation Graduate of the REALTOR® Institute. About 26 percent of RE/MAX Associates have completed this advanced course of study and earned their GRI.
- LTG - The Leadership Training Graduate designation recognizes members of the Women's Council of REALTORs® who have achieved a superior level of leadership expertise through education and experience.
- RRS - The Registered Relocation Specialist designation is the Canadian equivalent to the Certified Relocation Professional designation in the United States. An agent holding the RRS designation has proven experience in assisting corporate and government transferees in their destination and departure cities.
In addition to the professional designations described above, which are among the most frequently held designations in the industry, there are numerous other specialized designations held by RE/MAX Associates, including:
- AACI - Accredited Appraiser Canadian Institute
- ACCI - Associate Canadian Condominium Institute
- ALC - Accredited Land Consultant
- AMO - Accredited Management Organization
- ARM - Accredited Resident Manager
- CAPM - Certificate in Advanced Property Marketing
- CBR - Certified Buyers Representative
- CEA - Certificate of Estate Agency
- CGA - Certified General Appraiser
- CIPS - Certified International Property Specialist
- CPM - Certified Property Manager
- CRA - Canadian Residential Appraiser
- CRE - Counselor in Real Estate
- CREA - Certified Real Estate Appraiser
- CRSS - Certified Real Estate Securities Sponsor
- CSP - Certified Sales Professional
- FRI - Fellow of the Real Estate Institute
- FRICS - Fellow Royal Institute Chartered Surveyors
- GAA - General Accredited Appraiser
- MAI - Member of the Appraisal Institute
- MVA - Market Value Appraiser
- RI - Professional Division
- RM - Residential Member
- SIOR - Society of Industrial and Office REALTORs®
- SRA - Senior Residential Appraiser
- SREA - Senior Real Estate Analyst
- SRS - Specialist in Real Estate Securities