REALTORS® are focusing more on training to help them better meet the needs of clients in a housing market with unique challenges, according to the 2011 National Association of REALTORS® Member Profile.
The survey shows strong growth in professional training among members - 35 percent currently hold at least one out of six certifications in specialized training, up from 24 percent in 2010 and 16 percent in 2009. The most popular area of training for NAR members, driven by the large share of distressed homes on the market, is the Short Sales and Foreclosures Resource Certification, held by 21 percent of REALTORS®, up from 12 percent in 2009.
In addition to using technology daily or nearly every day (72 percent use smartphones with Internet access and 62 percent have their own website), NAR members are acquiring designations. Thirty-six percent of REALTORS® have obtained at least one professional designation, up from 34 percent in 2010. These designations give NAR members additional expertise in a variety of topics, helping them serve the specialized needs of their clients. The most popular designation is GRI (Graduate REALTOR® Institute), held by 21 percent of respondents; ABR® (Accredited Buyer Representative®), 13 percent; CRS® (Certified Residential Specialist®), 10 percent; and Seniors Real Estate Specialist (SRES®), 6 percent.
At the Silicon Valley Association of REALTORS® (SILVAR) attendance in designation and other classes is up this year, according to SILVAR President Gene Lentz. In addition to designation courses, the local trade association offers members classes on short sales, staging, even training on using the iPad in their business.
"Our members realize that this is a different and challenging market, with greater demands from buyers and sellers. We are pleased they are taking the opportunity to enroll in classes that will benefit them and their clients," says Lentz.
The typical NAR member is 56 years old, works 40 hours per week and has 12 years of experience; 57 percent are women, who account for 50 percent of brokers and 63 percent of sales agents. Most members are sales agents: 57 percent; 28 percent are brokers, 17 percent broker associates. Eight out of 10 members work as independent contractors for their firms.
Ninety-one percent of REALTORS® are homeowners; 43 percent own at least one investment property, and 16 percent own at least one vacation home. REALTORS® are also active in the political process – 92 percent voted in the last national election and 85 percent voted in the last local election. They are well-educated, with 48 percent holding at least a bachelor's degree; 15 percent are fluent in other languages.
The study's results are representative of the nation's REALTORS®, who account for more than half of the approximately two million active real estate licensees in the U.S. Lentz notes, "Not all real estate agents or brokers are REALTORS® — there is a difference. A REALTOR® is held to an even higher standard of conduct than other real estate professionals."
A REALTOR® is a licensed real estate agent or broker who is a member of National Association of REALTORS®. The "REALTOR®" designation is used by real estate agents and brokers who must adhere to a strict Code of Ethics and actively pursue continuing education to increase their professionalism and skill.
"The Code of Ethics sets REALTORS® apart from other real estate licensees. If a local association of REALTORS® finds a REALTOR® in violation of the Code of Ethics, disciplinary action can be imposed," added Lentz.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.