We have all seen the alphabet soup behind Realtors names, CRS, GRI, ABR, etc... Some of these designations take a good deal of time and money to obtain. For example the Certified Residential Specialist (CRS) requires a number of courses along with 25M in transactions. They want their members to be educated as well as have the experience in the field. Obviously someone that has the CRS or GRI designation knows how to do a BPO or CMA. Both of these organizations now offer classes in short sales and REO's. The question is do you think the banks or servicing companies look at these designations with favor?
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I'm in REO and I don't have any designation. I do not agree with others that you have to have expreienced with REO. There has to be your first REO, and then you get experience. Once you get REO listings then you can prove how good you are.
You need to research alot inorder to get into REO or BPO's. Just read this forum or others and you will get tons of information.
Good Luck!!!
I have been licensed since 1972 and do not have any designations and it has not affected my business. Some banks (and people) are impressed by these designations but in all reality, they are looking for experienced REO agents that are familiar with REOTrans, Resnet, etc. and who are members of REOMAC, Five Star and NRBA. Attending classes will benefit you in short sales but it will not give you the REO experience, and asset companies and banks no longer have the time to train new agents so they prefer using "seasoned" REO agents.
No, No, No, I don't think they care about these non REO related designations. Now, with that being said, I don't think any "real" REO designations exist out there. My point is, I am not sure the alphabet soup gets you anything more than the prestige, honor, ego, etc.....
Now, if someone could come up with a REO designation that was a true achievement to obtain, not just because you spent a lot to get it but, because it truly tested abilities and ensured quality then we may be talking about a designation that was worth something but, even then, the designation must be recognized as a standard and sought after by not only Realtors but by Asset Managers, Pre-Marketers, Loss Mitigation Officers and Banks as well.
Hopefully, in the next 6-9 months...REOPro will be able to offer such a designation. I am working on it....lol
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You need to research alot inorder to get into REO or BPO's. Just read this forum or others and you will get tons of information.
Good Luck!!!
Now, if someone could come up with a REO designation that was a true achievement to obtain, not just because you spent a lot to get it but, because it truly tested abilities and ensured quality then we may be talking about a designation that was worth something but, even then, the designation must be recognized as a standard and sought after by not only Realtors but by Asset Managers, Pre-Marketers, Loss Mitigation Officers and Banks as well.
Hopefully, in the next 6-9 months...REOPro will be able to offer such a designation. I am working on it....lol