Do Designations Equal Success?

Tony,

Very relevant posting. The Mortgage Business is coming across the same issues with CMPS etc. You make a very good case for it, but I can see where you're coming from on the other side.

On a side note, you were missed at the Blogging Conference. Hope you can make it to the next one.

Thanks,
Shailesh

Tony-

I recently wrote about real estate designations in a post called Is Your Professionalism Killing Sales.

I bashed on the designations a tad. But in all sincerity it was as a device to put focus on where it matters.Sales.

My point was that in the end professional or unprofessional is somewhat of opinion more than some designation can provide (so long as ethics are maintained).  In other words designations cannot give one sales. I don't believe anyone sees an acronym next to a name and goes with that agent. It may help. But the good sales man without the acronym has a battery of other marketing to win the contract.

Certainly a designation can help, but I fear while many go after the letters, the "rich" go after the listings and sales.

I personally do not know any top producer ( I mean top 1/4% in the US) that carries a designation. We both know a lady we call Queen Bee that has Zero Designations and resents any affiliation to be in NAR for that matter. She is personally the most successful Realtor I have ever known in my time as an agent and as a vendor. I think her cleints would call her fantastically professional.

what would YOU suggest to a new licensee with no background in real estate with regards to how to build their business most effectively and efficiently?

I am in the licensing phase now - I am scheduled to take the state exam on July 31.

I am very interested in the advanced desginations since I was planning on obtaining the

I simply feel that the additional education you get with these designations is invaluable. Am I wrong?

Irene-

My advice and this is what older Tim would tell Younger Tim when I first got in the biz, go find the top 5 producers in your market or neighboring markets. Do what you can to befriend them. Spend the money you are about to spend on your designations, and offer that for two + hours of Mr. Or Mrs. Top producers time. Take him or her to lunch. Have your questions ready. Fire away. Make them your mentor.

Ask for continuing help from them, even for a cut if you think they will take it seriously. Ask them what they would do -in specifics- if they were you. Suck a plan of action out of that mega producer.

Unless that person teaching designation school can match the advice that the person you take to lunch I know whereI would be spending my time and cash.

I certainly believe in the saying, "Knowledge is Power." After all, I was a former educator. Wait a minute, I'm still an educator. I educate/consult with clients daily. I have learned so much from the designations that I have earned and am currently working towards. I can say, based upon my experience that there is a direct correlation with revenue and designations. 

I remember when I received my "ABR" designations. A few of my collegues and I had set goals within our business plan to achieve the designation. We had heard about the very nice program here. I was so thrilled when I received it. I really enjoyed the classes. The instructors gave some great ideas and other agents really felt at ease and ready to share.

 One day, I was in the office on a call-in and I was explaining to the prospective buyer the educational experience I received from earning the designation, as well as the benefits to him. There were a couple of agents who overheard my conversation and made some silly, unprofessional comments. Well, needless to say, I got the guy's business and 10 houses later I am still working with him! And those unprofessional agents, let's just say they are not doing so well now.

No doubt, if you are dedicated, professional and goal driven. You will succeed no matter what. However, if you do not view real estate as a BUSINESS you will be faced with some serious obstacles. Just as there are those who graduate from college and never utilize what they have learned or achieved, there will be those who do so with real estate designations.

However, one thing that the designations point out: Agents that undergo such educational opportunities are investing in their practice.  The designations surely make receiving new business easier. I got a call Friday from an agent I met while taking a CRS course out of town. His clients are relocating to my area and he wanted to refer them to me. I know many of us who do have designations receive many referrals and likewise use our network of designees to refer others as well.