Educated agents try harder
When looking to invest your hard earned dollars in real estate you want expert representation from your agent. For most people a real estate investment is the largest of a lifetime so getting it right is critical. Some transactions are more complicated than others and often even seasoned agents need guidance or advice. Admitting that they need advice is tantamount to being educated and responsible and is a good sign you have a caring agent.
The state of Idaho requires all agents and brokers to have ongoing training. That training consists of four required hours and 16 elective hours for those in business longer than two years. The kinds of training your agent is electing to attend may be of interest to you. If, for example the agent consistently takes courses about how to better market themselves or how to make a better listing presentation, the training may not be a real benefit to you.
One way to know the types of training an agent has is to look at the alphabet soup that follows their name; GRI, ABR, etc., etc. These designations require specialized training that goes well beyond the state requirements.
For example, (GRI) Graduate Realtor Institute is a designation that is obtained by completing a minimum of 90 hours of coursework covering subjects in contract law, professional standards, technology, sales and marketing, finance and risk reduction. Many of these topics are not studied by those only meeting their required continuing education.
Other courses that may earn credit toward this designation include property valuation, real estate law, ethics, arbitration and other courses that make your agent brighter and therefore more capable of offering exceptional service. Of course classes in these areas are available to those not seeking the designation so although your agent may not have “GRI” behind their name, they may have taken some critical courses.
Education is a given, but to become a broker experience is also required. If you are working with a new agent it is important to know that they have open communication with their broker for help with those more difficult transaction challenges. While the average agent assists in three to five transactions annually, most brokers will see that many in a day.
Knowing that your real estate agent is a Realtor is something we feel is important as Realtors take an oath to perform their work ethically. Our 17 article Code of Ethics can be viewed by anyone at realtor.org and will be good reading for any who might be feeling short changed by the level of service they are receiving.
Our “Code” requires performance that exceeds most state’s legal requirements for performance and allows our membership the opportunity to police ourselves. We use this code to enforce our philosophies and protect the public from unethical conduct. Any errors in judgment that lead to ethics violations are usually rewarded with a requirement for more education.
Ask your Realtor what the abbreviations on their business card mean. It is likely you will discover that your agent has made a commitment to education that reflects the commitment they will make to you.
Trust an expert…call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.
Kim Cooper is a real estate broker and the spokesman for the Coeur d’Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d’Alene Association of Realtors, 409 W. Neider, Coeur d’Alene, ID 83815 or by calling (208) 667-0664.