What's In A Name? MLS, NAR, ABR
I try to talk in a straight forward way. I want to give honest, direct, simple answers to people. Not because my audience or my clients aren't "smart" enough, but because I always appreciate a simple, direct answer to my questions.Sometimes we get so used to our own industry jargon, that we forget that other people might not know what we mean.
Here are some of the common acronyms that are used in real estate:
MLS - stands for Multiple Listing Service
Definition: The Multiple Listing Service (MLS) (also Multiple Listing System or Multiple Listings Service) is a database which allows real estate brokers representing sellers under a listing contract to widely share information about properties with real estate brokers who may represent potential buyers or wish to cooperate with a seller's broker in finding a buyer for the property. The MLS combines the listings of all available properties that are represented by brokers who are both members of that MLS system and of NAR or CREA, (the National Association of Realtors in the US or the Canadian Real Estate Association).
NAR - stands for the National Association of Realtors
Definition: The National Association of Realtors (NAR), whose members are known as Realtors (rē(ə)ltər; -ˌtôr), is North America's largest trade association representing over 1 million members (as reported in 2006), including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. NAR also functions as a Self Regulatory Organization for real estate brokerage.
ABR - stands for Accredited Buyers Representative
Definition: The ABR designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYERS AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS who met the specified educational and practical experience criteria.
GRI - stands for Graduate, Realtor Institute
Definition: This is a professional designation for those who have graduated from the Realtor Institute, also associated with the National Association of Realtors. REALTORS with this designation have completed a comprehensive education program in residential real estate.
Alphabet Soup: ABR, CRS, GRI, ePRO, NAR .....
What does this mean to you as a consumer?
It's a good place to start when you are looking for an agent to work with. Those agents that have taken the time to further their real estate education, often times are the same agents that strive for a higher level of service for their clients.
Jim Starwalt
Thinking of making a move? Log onto my website at
www.StarHomeFinders.com and search the Multiple Listing Service from over 150,000 homes for sale. Registering is quick and easy!Jim Starwalt, Broker Associate RE/MAX Center, Phone: 847-548-2625 Jim@StarHomeFinders.com
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